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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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.
Pay no fees when you send money abroad with Simplii Financial.
Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds to Jamaica with our money transfer partners.
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.
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.
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.
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 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 service||Cash transfer||Bank transfer|
|Fee||$0||$5||$50 + additional correspondent bank fees|
|Exchange rate||1 CAD = 106.15 JMD||1 CAD = 102.640 JMD||1 CAD = 101.550 JMD|
|Transfer speed||1-2 day||Minutes||2-5 days|
|Amount received||JMD 106,150||JMD 102,640||JMD 101,550|
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.
Sign up and send money to Jamaica with a digital money transfer specialist in four steps:
Weigh costs and fees against convenience to learn how to compare money transfer providers that send money to Jamaica to best meet your needs:
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.
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.
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.
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.
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.
To send money to Jamaica from Canada, you’ll need documentation and details that include:
To pick up money in person, documentation can include:
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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Pay zero fees for safe and secure money transfers to over 120 countries.
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