Quickly send money from Canada to Botswana, and save on transfer fees.
In recent years, there has been a growing need for affordable and fast ways to send money between Canada and the African nation of Botswana. While some Canadian banks may allow international money transfers to Botswana, the banks tend to charge high transfer fees, give poor exchange rates and take three to five days to send the funds.
Specialist transfer service companies have emerged on the market in the last few years. These companies send large sums of money around the world daily, allowing them to charge lower transfer fees and give better exchange rates than the banks can.
If you’re looking to send money to Botswana, read our guide to discover more information.
Compare money transfer services in the table below
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Should you use a bank or money transfer company when sending money to Botswana?
Sam wants to send some money to his sister who is travelling through Botswana. She has spent more money than she thought she would and needs around $1,000 Canadian dollars to get her through the rest of her trip without tightening her budget.
Although Sam knows he can send an international transfer through his bank, he decides to create a comparison table between his Canadian bank and the services of a specialist money transfer company. You can see the results of his comparison in the table below, showing what his sister will receive in the local currency, Botswana pula.
| International Money Transfer | Canadian Bank | |
|---|---|---|
| Exchange rate | CAD$1 = 7.14 BWP | CAD$1 = 7.01 BWP |
| Transfer fee | CAD$13.99 | CAD$25 |
| Amount of money received in BWP | BWP7,137 | BWP7,010 |
| Transfer time | One to two days | Three to five days |
| Transfer options | Online | Phone, online, in person |
| Difference | +BWP127 | –BWP127 |
As you can see, Sam can send his sister over BWP127 more and can save CAD$11 on transfer fees if he chooses the specialist money transfer service. Furthermore, the money will arrive much faster than the turnaround time the bank offers.
Consider the following factors when comparing money transfer services
- Exchange Rates. Botswana has one of the most competitive exchange rates in Africa when compared to the US and Canadian dollars. It is possible to receive US dollars as well as Botswana pula. You can exchange the USD for BWP at a local exchange bureau in Gaborone or Francistown. Compare the exchange rate a company is offering with the fees they charge to get an idea of how much your transaction will cost you.
- Pick-up Methods. International transfers can be made to a bank account or to a branch location for cash pick-up.
- Fees. Compare the fees charged by different service providers. Some companies will completely waive the transfer fee if you send a large sum of money at one time, usually around the $10,000 mark.
- Turnaround Time. The turnaround time varies greatly depending on the company. Some providers can send the money within a matter of minutes, while others may take between one and five business days.
- Transfer Methods. Depending on the service, transfer methods generally include online, bank account to bank account, in person or via the phone.
- Transfer Options. Some companies allow you to secure an exchange rate in advance or set up recurring payments in order to save you time.
- Minimum/Maximum Transfer Amounts. Each company has its own minimum and maximum limits. Some companies may have no limits, while others may set specific limits.
- Customer Service. With so many available services, customer service can often be the deciding factor. Always choose a reputable company and customer service team to handle your money. Methods of contact may include phone, in person, online chat and/or via email.
How can you send money to Botswana from Canada?
- Money transfer services. You can send money to Botswana using services like WorldRemit, TorFX and FairFX. You must create an account online with the company in order to send money overseas.
- Cash pick-up services. Companies like MoneyGram and Western Union offer cash pick-up services. You can send money online or in person at a Western Union branch, and have the money available just minutes after you lodge the transfer. Transfers via MoneyGram must be sent in person at a branch in Canada, and much like Western Union, the money will be available within minutes.
- Banks. Your Canadian bank may allow international money transfers to Botswana. Log on to your online banking and search for Botswana in the international money transfer section.
- PayPal. You can use the services of PayPal to send and receive money in most countries around the world. Both you and your recipient must have PayPal accounts in order to use the service.
- International money draft. Visit your bank to get an international cheque and mail it overseas. Also known as “snail mail”, this is the slowest way to send money overseas and can also be quite pricy.
What options do you have to receive money from Botswana in Canada?
- Money transfer services. Check to see which companies allow you to send money overseas to Canada. Companies like FairFX and TorFX will likely allow this transfer.
- Cash pick-up services. MoneyGram and Western Union have cash pick-up locations across major cities in Botswana. Use their services to send money to Canada.
- Banks. A bank in Botswana may allow international money transfers to Canada.
- PayPal. You can use the services of PayPal to send and receive money in most countries around the world. Both you and your recipient must have PayPal accounts in order to use the service. They are free and quick to setup online.
- International money draft. Visit your bank to get an international cheque and mail it to Canada. This is the slowest way to send money overseas.
Can you receive an emergency cash transfer in Botswana?
You’ll need to visit a store-front location of either MoneyGram or Western Union to pick up emergency funds. Both of these companies allow for cash pick-up, which can be retrieved within minutes of the transaction being sent.
Keep in mind emergency transfers tend to incur higher fees than transfers that take a couple of days to arrive. If you need emergency money however, overlooking the fees may not be an issue.
Moneygram and Western Union cash pick-up locations in Botswana
Western Union
Gaborone
- Amex Botswana Airport Junction
Plot 50351 Airport Junction Mall, Unit 12Gaborone, Gaborone+267-3133637Monday to Friday, 9am to 5pm, Saturday, 9am to 1:30pm, Sundays are closed - Botswana Poste
River Walk Mall, Zeerust RoadGaborone,+267-3700052Monday to Friday, 9am to 5pm, Saturday, 9am to 1:15pm, Sundays are closed
Francistown
- City Business Services
Unit 31 Nzwazi Complex, Francistown,+267-2440023Monday to Friday, 8am to 5:30pm, Saturday, 8am to 1pm, Sunday, 10am to 11am
MoneyGram
Gaborone
- Maven Enterprises Limited – The Villager
4921 Unit 3, Maratadiba Road Plot, Gaberone3170855Monday to Sunday, 9am to 6pm - CSS Bureau De Change – Game City
Shop 11U Game shopping centre, Gaborone3165340Monday to Friday, 9am to 7pm, Saturday, 9am to 4pm, Sunday 12am to 12am
Francistown
- UAE Exchange – Francistown branch
42 Galo Centre unit, Francistown2495009Monday to Friday, 9am to 6pm, Saturday, 9am to 3pm, Sunday 12am to 12am
Tips for picking up cash in Botswana
Sending money to Botswana is fairly simple. Botswana has a reputation for being one of the most peaceful countries in Africa, but it’s still advisable to double-check the area where you’ll be picking up money. Always pick up money in the daytime and try to take someone with you for support. Never flash your cash around and avoid public transportation with large sums of money. Put your cash in a safe place as soon as possible.
What are the steps to send and receive money between Botswana and Canada?
- Sending money for a cash pick-up:
- Have the correct details of your recipient on hand. You’ll need to spell their full name correctly.
- Register for an account online or visit a branch in person to send the money.
- Input the details of your recipient, how much money you would like to send, the destination of the money and the type of currency you want to send.
- Send the transfer and provide your recipient with the transaction reference number.
- You’ll likely be provided with a transaction number which you can use to track the transfer.
- Sending money to a bank account:
- You’ll need the full details of your recipient, including their name, address, contact details and banking details.
- Visit your bank branch, call them or log in to your online banking.
- Input your recipients details, alongside their bank account number and branch number. You must know their bank’s SWIFT/BIC code. If sending money to Canada, you will need to know the transit code of your recipient’s bank.
- Input the amount and type of currency you’d like to send and lodge the transfer.
- You’ll likely be provided with a transaction number which you can use to track the transfer.