Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

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Transfer money

Sending money from TANZANIA to RWANDA

Data collected on: Nov 18, 2023-Dec 12, 2023
TZS | USD
Firm
Payment instrument
Access point
Sending network coverage
Transfer speed
<em>Transfer Speed</em> has been standardized in six broad categories.
Receiving method
Disbursing network coverage
Fee
Exchange rate margin (%)
The exchange rate margin is the cost resulting from the fact that the firm applies a rate that is different from the market reference rate. The margin is the percentage difference between the market reference rate and the exchange rate actually applied to the transaction.
Total cost (%)
The total cost of sending a remittance transfer includes: the fee charged to the sender plus the exchange rate margin.
Total cost (TZS)sort descendingTotal cost (USD)sort descending
The total cost of sending a remittance transfer includes: the fee charged to the sender plus the exchange rate margin.
Firm
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
0.000.00
Exchange rate margin (%)
2.38
Percentage difference between market reference rate 0.50 and exchange rate charged 0.492.38
Total cost (%)
2.382.38
Total cost (TZS)sort descendingTotal cost (USD)sort descending
7,723.104.76
Firm
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
0.000.00
Exchange rate margin (%)
2.38
Percentage difference between market reference rate 0.50 and exchange rate charged 0.492.38
Total cost (%)
2.382.38
Total cost (TZS)sort descendingTotal cost (USD)sort descending
7,723.104.76
Firm
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Bank branch
Sending network coverage
High
Transfer speed
Receiving method
Bank branch
Disbursing network coverage
Medium
Fee
0.000.00
Exchange rate margin (%)
2.71
Percentage difference between market reference rate 0.49 and exchange rate charged 0.482.71
Total cost (%)
2.712.71
Total cost (TZS)sort descendingTotal cost (USD)sort descending
8,793.955.42
Firm
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Bank branch
Sending network coverage
High
Transfer speed
Receiving method
Bank branch
Disbursing network coverage
Medium
Fee
0.000.00
Exchange rate margin (%)
2.71
Percentage difference between market reference rate 0.49 and exchange rate charged 0.482.71
Total cost (%)
2.712.71
Total cost (TZS)sort descendingTotal cost (USD)sort descending
8,793.955.42
Firm
Tigo
Firm type: Mobile Operator
 
Payment instrument
Access point
Mobile phone
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
2,250.001.39
Exchange rate margin (%)
10.08
Percentage difference between market reference rate 0.49 and exchange rate charged 0.4410.08
Total cost (%)
10.7710.77
Total cost (TZS)sort descendingTotal cost (USD)sort descending
34,948.6521.54
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
15,204.009.37
Exchange rate margin (%)
15.74
Percentage difference between market reference rate 0.49 and exchange rate charged 0.4115.74
Total cost (%)
20.4320.43
Total cost (TZS)sort descendingTotal cost (USD)sort descending
66,295.3540.86
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
24,185.2814.91
Exchange rate margin (%)
15.77
Percentage difference between market reference rate 0.49 and exchange rate charged 0.4115.77
Total cost (%)
23.2223.22
Total cost (TZS)sort descendingTotal cost (USD)sort descending
75,348.9046.44
Firm
KCB Bank
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
140,360.0086.51
Exchange rate margin (%)
15.97
Percentage difference between market reference rate 0.49 and exchange rate charged 0.4115.97
Total cost (%)
59.2259.22
Total cost (TZS)sort descendingTotal cost (USD)sort descending
192,168.90118.44
Firm
KCB Bank
Firm type: Bank
 
Payment instrument
Access point
Call Center
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
140,360.0086.51
Exchange rate margin (%)
15.97
Percentage difference between market reference rate 0.49 and exchange rate charged 0.4115.97
Total cost (%)
59.2259.22
Total cost (TZS)sort descendingTotal cost (USD)sort descending
192,168.90118.44
Firm
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
 
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
243,747.00150.23
Exchange rate margin (%)
12.69
Percentage difference between market reference rate 0.49 and exchange rate charged 0.4312.69
Total cost (%)
87.8087.80
Total cost (TZS)sort descendingTotal cost (USD)sort descending
284,911.00175.60
Firm
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
 
Payment instrument
Access point
Call Center
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
243,747.00150.23
Exchange rate margin (%)
12.69
Percentage difference between market reference rate 0.49 and exchange rate charged 0.4312.69
Total cost (%)
87.8087.80
Total cost (TZS)sort descendingTotal cost (USD)sort descending
284,911.00175.60
Total Average Fourth Quarter 2023
32.6032.60
Total Average Third Quarter 2023
20.1020.10
Total Average
Fee
73,623.0345.38
Exchange Rate Margin (%)
9.929.92
Total Cost Percent (%)
32.6032.60
Total Cost (TZS) Total Cost (USD)
105,798.8065.21
Non-Transparent records
Bank account transfer Mobile money Cash
Less than one hour Same day
Bank account Cash Mobile wallet
Firm
Payment instrument
Access point
Sending network coverage
Transfer speed
Receiving method
Disbursing network coverage
Fee
Exchange rate margin (%)
Total cost (%)
Total cost (TZS)sort descendingTotal cost (USD)sort descending
Firm
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
24,330.0015.00
Exchange rate margin (%)
2.38
Percentage difference between market reference rate 0.50 and exchange rate charged 0.492.38
Total cost (%)
5.385.38
Total cost (TZS)sort descendingTotal cost (USD)sort descending
43,631.8026.90
Firm
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
24,330.0015.00
Exchange rate margin (%)
2.38
Percentage difference between market reference rate 0.50 and exchange rate charged 0.492.38
Total cost (%)
5.385.38
Total cost (TZS)sort descendingTotal cost (USD)sort descending
43,631.8026.90
Firm
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Bank branch
Sending network coverage
High
Transfer speed
Receiving method
Bank branch
Disbursing network coverage
Medium
Fee
28,709.4017.70
Exchange rate margin (%)
2.71
Percentage difference between market reference rate 0.49 and exchange rate charged 0.482.71
Total cost (%)
6.256.25
Total cost (TZS)sort descendingTotal cost (USD)sort descending
50,687.5031.25
Firm
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Bank branch
Sending network coverage
High
Transfer speed
Receiving method
Bank branch
Disbursing network coverage
Medium
Fee
28,709.4017.70
Exchange rate margin (%)
2.71
Percentage difference between market reference rate 0.49 and exchange rate charged 0.482.71
Total cost (%)
6.256.25
Total cost (TZS)sort descendingTotal cost (USD)sort descending
50,687.5031.25
Firm
Tigo
Firm type: Mobile Operator
 
Payment instrument
Access point
Mobile phone
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
5,250.003.24
Exchange rate margin (%)
6.08
Percentage difference between market reference rate 0.49 and exchange rate charged 0.466.08
Total cost (%)
6.736.73
Total cost (TZS)sort descendingTotal cost (USD)sort descending
54,580.3033.65
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
20,272.0012.50
Exchange rate margin (%)
15.74
Percentage difference between market reference rate 0.49 and exchange rate charged 0.4115.74
Total cost (%)
18.2418.24
Total cost (TZS)sort descendingTotal cost (USD)sort descending
147,926.4091.20
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
42,119.2825.97
Exchange rate margin (%)
15.77
Percentage difference between market reference rate 0.49 and exchange rate charged 0.4115.77
Total cost (%)
20.9620.96
Total cost (TZS)sort descendingTotal cost (USD)sort descending
169,985.60104.80
Firm
KCB Bank
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
140,360.0086.54
Exchange rate margin (%)
15.97
Percentage difference between market reference rate 0.49 and exchange rate charged 0.4115.97
Total cost (%)
33.2833.28
Total cost (TZS)sort descendingTotal cost (USD)sort descending
269,900.80166.40
Firm
KCB Bank
Firm type: Bank
 
Payment instrument
Access point
Call Center
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
140,360.0086.54
Exchange rate margin (%)
15.97
Percentage difference between market reference rate 0.49 and exchange rate charged 0.4115.97
Total cost (%)
33.2833.28
Total cost (TZS)sort descendingTotal cost (USD)sort descending
269,900.80166.40
Firm
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
 
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
243,747.00150.28
Exchange rate margin (%)
12.69
Percentage difference between market reference rate 0.49 and exchange rate charged 0.4312.69
Total cost (%)
42.7542.75
Total cost (TZS)sort descendingTotal cost (USD)sort descending
346,702.50213.75
Firm
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
 
Payment instrument
Access point
Call Center
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
243,747.00150.28
Exchange rate margin (%)
12.69
Percentage difference between market reference rate 0.49 and exchange rate charged 0.4312.69
Total cost (%)
42.7542.75
Total cost (TZS)sort descendingTotal cost (USD)sort descending
346,702.50213.75
Total Average Fourth Quarter 2023
20.1120.11
Total Average Third Quarter 2023
14.5514.55
Total Average
Fee
85,630.3752.79
Exchange Rate Margin (%)
9.559.55
Total Cost Percent (%)
20.1120.11
Total Cost (TZS) Total Cost (USD)
163,121.59100.57
Non-Transparent records
Bank account transfer Mobile money Cash
Less than one hour Same day
Bank account Cash Mobile wallet
Least Costly Corridors To Rwanda
Least Costly Corridors From Tanzania
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