So you need to send money to South Africa? You have family in Cape Town who need help paying a bill. You need to send money to your own South African bank account. Or you need to pay for services from a business.
Whatever your reason for sending money to South Africa – you’ll want a money transfer service that’s fast, secure, easy to use and great value for money. WorldRemit can offer you just that. But let’s take a look at some of the other options open to you.
Money in South Africa
The rand is the currency of legal tender in South Africa. It’s divided into 100 cents. It was introduced in South Africa in 1961 (replacing the South African pound) when the country became a Republic. Until 1982, the South African currency had a value higher than the dollar, but it started to decline because of international pressure and sanctions imposed due to the South African policy of apartheid. Since then the rand has suffered several fluctuations in the exchange rate.
Today, the rand is weak against Western currencies, making travelling to South Africa less expensive than in Europe and North America. The best foreign currencies to take in cash are US dollars, euros or British pounds. Many of Africa's tourist attractions will only accept US dollars for their entry fees and tips.
The current South African rand coins and banknotes
Currently, there are 1, 2, 5, 10, 20 and 50 cents and 1, 2, and 5 rands in circulation. Plus, there are banknotes of 10, 20, 50, 100, 200 and 1,000 ZAR.
International bank transfer using your bank
If you want to send money to South Africa, the first convenient place you may think of is your bank. Banks can send money overseas for you, but be aware that their fees are often a great deal higher and their exchange rates are not as competitive as companies specialising in international money transfers. So it’s worth looking at the specialist alternatives.
High street agents
When it comes to using specialist money transfer companies, the vast majority of people still use high street money agents like Western Union.
Here’s how offline money transfers work:
- You travel to an agent on the high street, in a newsagent or at the Post Office.
- You don’t usually need to open an account. Simply hand over the funds you want to send and pay any fees.
- After paying you’ll get a reference number, which you’ll give to your recipient. With this you can then pick up the money you sent to the overseas branch or agency.
It’s worth noting that Western Union also has an online service to South Africa.
The disadvantages of going offline
- Inconvenience – you have to physically go to the shop to send money and are bound by their opening times.
- Expense – these services may be fast, but they can often charge high fees and don’t offer the best exchange rate.
Sending money online
The world has moved online and so have money transfers! There are now many international online money transfer services offering you fast, secure and convenient ways to send money to those you love thousands of miles away.
Here are some of the best companies sending money to South Africa.
With WorldRemit you can send money online to 150+ countries from 50 worldwide. Specifically to South Africa you can send money for cash pickup, bank transfer, mobile money and airtime top-up.
Here’s how it works
Using the website or app:
- Create an online account and login
- Tap in how much you want to send, how you want to send the money (cash pickup, bank deposit, Mobile Money or airtime top up) and where.
- Enter your recipient’s details.
How long does it take to send money with WorldRemit?
This depends on the service you’ve chosen. Bank transfers usually arrive in 0-2 business days. Money sent for cash pickup can be ready instantly at a Mukuru branch – your recipient will need a valid photo ID and the transaction reference number.
Is WorldRemit secure?
Yes. Industry-leading technology protects your money and ensures it arrives safely every time. WorldRemit is licensed by government regulators around the world, so you can be sure we meet the highest possible standards.
Read more: Is WorldRemit secure?
- We are super-convenient. It's so easy to send money back home with us, wherever and whenever you want.
- We offer great value for money. Based on the official World Bank data, we're on average 25% cheaper than Western Union, Moneygram and Ria.*
- You can really trust 5.7 million customers worldwide already do