Best money transfer to Senegal • Cost, duration, comparison

Currently, you can send money to Senegal from over 145 countries across the world.

There are several money transfer companies that can assist in sending money to your loved ones in Senegal.

Some of these companies have competitive exchange rates exchange rate and even offer instant delivery of cash to your beneficiaries.

Comparison: Best Transfer Money to Senegal

Winner

Wise

First Transfer Free!

Wise is a very good provider for overseas transfers. The transfers are easy, convenient and secure. The most important thing is that the transfers are also much cheaper than with the bank.

Winner

transferGo

Send money very fast!

Save up to 90% compared to banks. No hidden costs. Large selection of countries.

Winner

currencyfair

Five Transfers Free!

A world-class customer service, very good exchange rates and permanently favorable transfers abroad and to Germany convince. Only downside is the small selection of countries.

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How can I send money to Senegal?

Senegal is also privileged to host several companies that can assist in money transfer from other parts of the world to Senegal.

To send money to Senegal you can either decide to do a bank to bank transfer or use the available online money transfer companies in Senegal.

Availability of the online transfer companies or ability to do a bank to bank transfer solely depends on the country where the sender of the money is coming from. Some of the providers that you consider using to transfer money to Senegal are; WorldRemit, TransFast, SmallWorld or even foreign exchange company like OFX.

Bank

The cost of sending money to African countries is comparably high. The government of Senegal also have strict policies to ensure that money transfer operators do not assist in laundry and delivery of money to terrorists.

These kinds of policies are associated with high administrative costs hence increasing the bank transfer costs since these banks are heavily taxed by the government therefore for them not operate under losses they have to increase bank transfer rates as compared to other parts of the world.

Money transfer provider

There are several reputable and reliable money transfer providers that can help you send money to Senegal either for free or at a cost.

Some of these providers are TransFast, WorldRemit, OFX, SmallWorld, and many others.

How much does it cost to transfer money to Senegal

The cost of money transfer depends on the money transfer provider that you decide to use to send money to your beneficiary in Senegal. Some providers do not charge transfer cost while others charge transfer costs depending on the amount of transfer and the country where the transfer is being initiated.

Just to highlight some few providers and what they are likely to charge you while transferring money to Senegal;
WorldRemit and TransFast will help you make your money transfers to Senegal free of Charge regardless of the amount you are transferring to Senegal.

Foreign exchange company like OFX will also offer you free money transfer cost to Senegal for any amount of transfer.

While other providers like SmallWorld will charge you depending on the amount you are transferring to your beneficiary.

For example for an amount between 50 USD-100 USD they will charge you 5.99USD
101-250 USD they will charge you 8.99USD
251-500 USD they will charge you 10.99USD.

Duration of a money transfer to Senegal

Duration of money transfer is an important factor to consider before sending money to your beneficiary. That’s why people prefer money transfer operators who have the shortest turnaround period.

Here is a list of operators and how long it will take for your beneficiary to receive the cash.

For TransFast and WorldRemit you have two different options to choose from. The option chosen will determine the duration that it will take for your beneficiary to receive the transfer.

For example for TransFast and WorldRemit if you choose cash pick-up at a certain agent location in Senegal your beneficiary will receive the transfer instantly. But you choose to transfer to bank account option your beneficiary will receive the transfer within 12-24 hours if they are using either credit or debit card or3-5 days for direct bank payment.

If you use OFX the receiver will get the transfer within 3-5 days.

If you use Small World your beneficiary will get the cash the same day or within 48 hours.

Conclusion on the money transfer to Senegal comparison

As you can see if you want to send money to Senegal you have a variety of options to choose from. The available companies offer competitive exchange rate, short turn-around with some providers like WorldRemit and TransFast offering free transfer cost for any given transfer of money made.

I believe this article has given you a clear insight into the best money transfer operator to Senegal.