There are a variety of reasons why you may choose to transfer money to Africa. Now the question is: how can you do it safely? Here are the five main ways you can do that. Keep in mind that the majority of these methods or services have a daily limit on how much money you can transfer.
Bank Transfer
This is most likely the simplest. However, it is only possible if you have a bank account in Africa. It’s straightforward. Get the recipient’s bank account information in Africa. Open a UK online bank account. Create a new African recipient in your profile and transfer the funds to their account. That’s all there is to it.
Write yourself a check
You can always write yourself a check if you still use checks. Simply write a check to yourself from your U.K. bank account. But don’t forget to make your African bank account the check’s receiver. Cash the check at a branch of your African bank.
Send via PayPal
PayPal is an online wallet and a digital payment service. Anywhere around the globe, you can send money to a PayPal account (as long as both parties have an internet connection). Make your own PayPal account and deposit funds into it. The money from your PayPal account can then be transferred to your African bank account. Pay attention to the directions on PayPal’s website. However, before you utilize their services, make sure to review their rates and costs to avoid any unpleasant surprises.
Use a third-party Transfer Service
Third-party transfer providers strive to provide you with a stress-free experience. Use MoneyGram, TransferMate, or Western Union, whichever you want. Visit their website or one of their physical locations. Fill up the blanks with your cash and destination information. Visit the African agent in person or have it collected on your behalf. After receiving the money, go exchange it for the currency of your choice. Keep in mind that they will charge a price for their services.
Withdraw from an ATM in Africa
You can also withdraw money from a participating ATM in Africa using your UK debit card. You will be able to withdraw money from an ATM that supports your bank if you have a bank account with them. Please keep in mind that foreign cash withdrawals are costly and may end up being more costly than some of the other options. However, if none of the other options are available, it is a viable option.
Top 3 Remittance Companies to Africa
International remittance has already been discussed as a means of sending money to Africa in this guide. If you decide to go with this route, here are three companies to consider.
Transferwise
Transferwise is easy to use, and they guarantee that no costs will be hidden from you. Open a free account with them, set up your transfer, tell them a little about yourself, supply the recipient’s information, double-check the recipient’s information and the amount, and complete the transfer.
Xoom
PayPal is one of the service providers used by Xoom. They intend to offer a one-stop-shop for international money transfers. They offer to deliver the money on the same business day it is sent to various African nations. Simply start a transfer with them, choose your options, and the funds are sent to you. It’s no-nonsense, no-frills, and simple to use.
Remitly
Remitly has two options for sending money to Africa. There are two options: Express and Economy. Express is the quickest option, although it does require a debit or credit card. The economy has the lowest fees, but sending money requires a bank account. Create a free Remitly account and select your preferred delivery method. Fill up the recipient’s name and payment information. Transfer it with a single click and keep track of it with smart email and text notifications. Your recipient will also be notified by email and text of the money transfer’s progress.
