Send Money to Jamaica: Best Money Transfer Services | Finder Canada

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Send money to Jamaica

Transferring money to loved ones on this Caribbean island can be a breeze.

To get a better deal when you want to transfer money to Jamaica, go for a specialist money transfer service over your local branch. You’ll often end up saving a lot more on fees and exchange rates.

Send money to Jamaica with Simplii

Pay no fees when you send money abroad with Simplii Financial.

  • Send money to over 120 countries
  • Competitive exchange rates
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Compare international money transfers to Jamaica

Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds to Jamaica with our money transfer partners.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
CAD 1 Same day CAD 0.00 116.981 JMD
584,906
XE has fast transfers with no fees and a range of foreign currency tools. Go to site Show details
CAD 10 Within an hour CAD 1.99 116.276 JMD
581,148
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Go to site Show details
CAD 0 Within an hour CAD 3.99 117.099 JMD
585,027
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

What’s the best way to send money to Jamaica?

Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Jamaica. Some offer cash pickup in as little as a few minutes, while others seamlessly transfer to bank accounts. Sending money through PayPal or your bank is also an option, but you’ll typically face higher fees and weaker exchange rates when going that route.

Digital money transfer services

Companies like XE specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s Jamaican bank account, often in as little as a day or two.

Cash transfers

Services like MoneyGram and Western Union allow you to transfer cash for pickup at a local branch in Jamaica— often in 15 minutes. While it’s a fast way to send money to Jamaica, you’ll pay for the convenience in weak exchange rates and high fees.

Banks

Jamaican dollars are not a popular currency, but your local bank may be able to exchange them. If your bank supports Jamaican dollars, beware of high fees and wide margins on the exchange rate compared to digital and other options when sending a wire transfer to Jamaica.

Let’s crunch the numbers: Sending $1,000 to Jamaica

Let’s say you need to send $1,000 to family in Jamaica. Here’s what you might face as far as fees and exchange rates as of October 1, 2020.

Digital money transfer serviceCash transferBank transfer
Fee$0$5$50 + additional correspondent bank fees
Exchange rate1 CAD = 106.15 JMD1 CAD = 102.640 JMD1 CAD = 101.550 JMD
Transfer speed1-2 dayMinutes2-5 days
Amount receivedJMD 106,150JMD 102,640JMD 101,550
Verdict
  • Best value
  • Fastest
  • Slowest and most expensive

The bank option ends up being both the slowest and gets the smallest amount of money to your recipient in Jamaica. If you go with the digital money transfer service, your recipient ends up with JMD 4,600 more than the bank offers. If speed is crucial, a cash transfer can typically have your transfer to Jamaica in as little as 15 minutes, just make sure there is a cash pickup location near your recipient before sending.

How to send money to Jamaica online

Sign up and send money to Jamaica with a digital money transfer specialist in four steps:

  1. Sign up for a free account. Pick a provider and sign up for a free online account using your contact information, proof of ID and preferred payment method.
  2. Provide transfer details. Submit your recipient’s contact information and pick a delivery method. If transferring to a bank, you’ll need their Jamaican bank account details.
  3. Confirm transfer details. Double-check your payment method, expected fees and destination.
  4. Save your receipt. Record your receipt’s confirmation number to track the progress of your transfer to Jamaica. Some money transfer providers send a text or email when your transfer is complete.

What are the ways that I can send money to Jamaica

  • Bank transfers. Many major Canadian banks will allow you to send money to Jamaica.
  • Money transfer providers. Providers like Ria and Wise can help you quickly and easily transfer your money online.
  • Providers with cash pickup. Western Union and MoneyGram allow you to send funds for cash pickup at agent locations.
  • PayPal. Electronic payment giant PayPal allows you to send money from Canada to Jamaica.
  • Cheque and money orders. Although not a quick option, you could send an international cheque overseas, obtained from your bank.
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How to get the most out of your money transfer to Jamaica

Weigh costs and fees against convenience to learn how to compare money transfer providers that send money to Jamaica to best meet your needs:

  • Exchange rates. The CAD-JMD relationship fluctuates often, so using a service that allows you to lock-in exchange prices may help you save money down the line if the Jamaican dollar rises against the Canadian dollar.
  • Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger CAD-JMD exchange rate.
  • Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the number of Jamaican dollars you’re sending to Jamaica.
  • Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to Jamaica.
  • Sending limits. Comparing prices for one large transfer instead of many small transfers is typically easier, so picking the service you use based on how much you’re sending is a valid strategy for saving money.
  • Transfer methods. Whether you want money sent to a Jamaican bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.

Emergency cash transfer

When urgency trumps cost to get your money to Jamaica quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.

How to send money to Jamaica without a bank account

Cash transfer services can help you if you’re unbanked or marginally banked. If you don’t have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.

Jamaica’s exchange rates explained

The exchange rate determines how much one country’s currency is worth in another country’s currency, in this case how many Jamaican dollars your Canadian dollars are worth when you send money to Jamaica. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. Jamaica’s exchange rate is flexible compared to the Canadian dollar. Because both are relatively stable, global currencies, the CAD-JMD relationship typically doesn’t make sharp movements. Factors that influence the exchange rate include interest rates, economic stability and inflation.

Track how the Jamaican dollar trades against the Canadian dollar in our historical rate chart.

Today’s exchange rate CAD to JMD

1
0
Updated: 10 Apr 2021 19:08:09 UTC

Can you Venmo Jamaica?

No. Venmo, Cash App, Zelle and similar services are all restricted mostly to the US. Cash App and Venmo do not work between Jamaica and Canada. You’ll need to use a dedicated money transfer service, a bank transfer, a PayPal transfer or something similar to send money to Jamaica. Use our comparison table above to see what your transfer to Jamaica could cost.

Documents needed for sending to and receiving money in Jamaica

To send money to Jamaica from Canada, you’ll need government-issued ID and other documents, while documents needed to pick up money in Jamaica may be different by company.

Documents to send money from Canada

To send money to Jamaica from Canada, you’ll need documentation and details that include:

  • Identification. Most services require a driver’s license, passport or other government-issued ID. Some services allow you to send transfers without ID, but they may require your SIN.
  • Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal cheques.
  • Recipient information. Submit your recipient’s name as it appears on their ID, along with their phone number, Jamaican bank account and routing number.

Documents to receive money in Jamaica

To pick up money in person, documentation can include:

  • Transfer number. The person sending you money can forward the transfer’s confirmation details — called a PIN, a MTCN, a reference number or a tracking number, depending on the company.
  • Government-issued ID. A Jamaican Passport, Jamaican ID or similar official ID may be required to pick up your transfer.
  • Amount sent. You may need to know how much was sent, usually within 10% of the total.
  • Sender’s information. Take along your sender’s full name, the sending country and their address, if known.

Bottom line

Sending your hard-earned money to Jamaica shouldn’t cost a fortune. Compare money transfer companies that specialize in foreign transactions for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.

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