Sending money to Tunisia is easy, though you have fewer options than you would for many other international countries. This isn’t a significant problem, and you will be able to find a good service that fits your needs. This guide will find various money transfer services that support sending money to Tunisia. They offer competitive fees and fast processing times.
Tunisia is in the process of liberating its economy from heavy oversight and regulation. Therefore, there has not been a huge growth over the last decade. Overall, the economy of Tunisia can be described as developing and lower-middle-income.
The official currency of Tunisia is the Tunisian dinar, and at the time of writing, 1 TND is worth 0.34 USD. They have a GDP of $45.4 billion, ranked 93rd in the world. They export many goods, and their primary industries include clothing, agricultural products, chemicals, and electrical equipment. Their biggest export partners are France (29%), Italy (16.5%), and Germany (12.6%).
The developing economy of Tunisia is slowly allowing more financial services to be offered, which includes specialist transfer providers. By the end of this guide, you will see that many are currently operating, which makes sending money to Tunisia safe and cheap.
We understand that setting up your first money transfer to Tunisia can be overwhelming. The process is easier and faster than you might think. Below is a 3 step process that you can use for any specialist transfer provider that you find.
The choice of money transfer options for sending money to Tunisia is extensive. The available options depend on the service you are using and where you are located in the world. Here is a list of commonly used options that are available to many money transfer customers.
Bank transfers: sending money to Tunisia with banks is widely supported. Some of the top Tunisian banks include state owned Société Tunisienne de Banque (STB), Banque de l’Habitat (BH) and Banque National Agricole. The transfer time is around 2-7 business days, depending on the currency used and the amount sent. Specialist transfer companies offer faster processing speed.
Furthermore, the fees associated with bank wires are expensive at around $20-$50 per transfer. The high cost means that you will need to send large amounts of money for the deal to be favorable.
Balance transfers: using money transfer companies, you can send money with a balance transfer. These involve sending money from the sender’s eWallet to the recipients. The fees are low with such transfers and fast processing speeds. Companies like Wise provide instant processing speeds for most transfers. When they get held up, a notification system is in place to keep both parties informed of the progress.
Most balance transfers require a minimal amount of recipient details to process. Most companies allow you to enter a nickname or recipient email address to send money. In contrast, bank transfers require more details, so the transactions take longer.
Cash pickup: money transfer companies like WorldRemit provide cash pickup services, which is a good choice for recipients without a bank account. The sender can make a payment, and the recipient has to visit a physical location to get the cash. They will need to bring a photo ID and possibly the transaction reference number. The number of pickup locations depends on the service that is used to send money. Also, the speed of transfer is instant, which means the recipient can pick up the funds right away.
Home delivery: this is another method that is ideal for users who do not have a bank account. The recipient will get physical cash delivered at their home address by a transfer service. The coverage area depends on the local availability. Time taken to deliver cash is typically within two days, and there is a fee for the service.
Mobile app: using a mobile app to send money is fast and convenient. You will need to visit the App Store or Google Play to download and install the app. Mobile apps are available for banks and money transfer services. Not all of them offer international money transfers, so you need to check the features list.
Also, read the user reviews to get an idea of what to expect from a mobile app. They will give you a feeling of quality and if sending money is an easy process. The best mobile apps for sending money have a score of at least 4.0 out of 5.
Card payments: one of the most accessible methods of sending money is via card. That is because most people have a credit or debit card with popular companies like Visa or MasterCard. The processing time for this payment is instant, but there is a fee of around 1.5-3%. This can result in huge fees when making large transfers.
In this section, we will share the process of actually sending money using different methods. This list is just an example of the most commonly used methods, and many more exist for you to learn.
To successfully send money to a recipient in Tunisia from other countries you will need to acquire personal details. The specific detail you need depends on the type of money transfer you are making.
Bank transfers require the most details, which makes them relatively slow. However, when sending to the same recipient a 2nd time, the details may autofill. You will need to provide the recipient’s name, bank account, routing number, SWIFT code, and bank address. The specific details vary based on the bank to which you are sending from and to.
When making a transfer, using cash pick up or home delivery services will require fewer details. In the case of cash pick-up, only the recipient’s name is required. For home delivery, you will also need to share the recipient’s address where they would like to get the physical cash.
To simplify the money transfer process, consider using balance transfers. They require the fewest details and allow for a level of anonymity. That is because you can send money to a recipient only using the email address. Services such as Wise offer a function where the recipient can be found by only entering their email address.
There are multiple ways of receiving money in Tunisia, and being aware of them will help you reduce fees and get funds faster. With the choices below, everyone can get money in a way that matches their preferences.
The information that is required to provide for receiving money depends on the transfer method. Recipients that want to get money straight to their bank account need to share the account numbers, bank name, bank address, personal name, and SWIFT code. Also, you can share the currency that you want to receive money in to help reduce conversion fees.
Fewer details are required when you are getting physical cash through home delivery or pick-up point. You will need to share your name and address for the former method. These methods are convenient for recipients that do not have a bank account or access to a money transfer service.
Money transfer services require a fewer number of details, which is convenient. Providing an email is typically enough to receive money with most companies. This is handy if you do not like to share personal details with others.
Receiving money in Tunisia requires you to document the activity with the tax authorities. The amount of tax you have to pay for receiving money from abroad depends on the reason for the transfers. If it is work or business-related income, then taxes need to be paid. You should document all transactions so that filling out documents is simple.
Hiring a tax accountant to complete your taxes is the best way to ensure that you are receiving money legally in Tunisia. Local tax accountants will understand the law like the back of their hands. They can guide you on when you do and do not have to pay taxes for international money transfers.
You may want to send money to Tunisia for many reasons. This section shares the different reasons that customers use money transfer services. They will clue you in on what you need to consider to ensure the transaction is completed successfully.
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We understand that you might be on the fence about using money transfer companies if you feel safe with banking. Therefore, in this section, we will show you why alternative specialist transfer services are the best way of sending money to Tunisia.
There are many top-tier money transfer services to choose from, and it can be overwhelming to narrow down the options. Therefore, this section provides the best three services that you should consider for sending money to Tunisia.
Wise is widely considered to be an industry-leading money transfer service. They offer numerous benefits, which include fast processing speeds, low fees, competitive FX rates, and transparency. Therefore, customers understand what fees they are being charged at every step of the process.
The several payment and cashout options provided by Wise ensure that users have flexibility. You can choose the method that matches your preferences and offers the best deal for your money transfer needs.
Xe is a top-tier transfer provider for customers that want to enjoy the best FX rates. The transparent rates can be viewed on the homepage so you can compare them with other companies. Also, the rates are live, so they are updated constantly throughout the day and night. Up to 170 countries are supported by Xe Money Transfer, and Tunisia is among them.
Multilingual access is provided in several languages to accommodate customers. These include English, French, Italian, Portuguese, Swedish, Spanish, Japanese, and Chinese. Also, the customer service department is quick to respond when you have problems using their features.
WorldRemit is known for its wide worldwide coverage of over 150 countries, and Tunisia is among them. They have more than 30,000 agent locations around the world, which provides access to cash pick-up delivery points. Also, you can get help from an employee in person.
The flexible payment options of WorldRemit allow you to send money in a way that matches your expectations. This includes mobile money, cash pick up, bank deposit, or credit card. Registering with WorldRemit takes just 5 minutes, and most money transfers arrive within 3 minutes.
The overall best way to send money to Tunisia is through Ria Money Transfer. For the sake of speed and overall cost efficiency, we recommend you use their faster option. With Ria Money Transfer’s fast option, your money should reach its Tunisian destination in a matter of minutes. Beyond this, the service they offer is well worth the price they ask you for. The wait times are very low, and while ease of use is a shortcoming for Ria Money Transfer, it’s far from the hardest platform to understand.
April is a trained journalist and the Content Editor for MoneyTransfers.com. She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she’s not writing about global remittances she can be found daydreaming about her next holiday abroad.