If you’re looking for the best possible deal when you send money to Seychelles, compare your transfer options and search for the best exchange rate.
An archipelago comprising 115 islands, The Seychelles are found off the coast of East Africa. With beautiful beaches, stunning coral reefs and unspoilt marine reserves, it makes a great destination for tourists from all over the world.
If you need to send money from Australia to Seychelles, make sure you hunt around to find the most affordable deal. If you don’t, the transaction could cost you a whole lot more than necessary.
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With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:
- Buying property abroad
- Regular overseas payments
- Risk management
Banks versus money transfer companies
Banks can help you send money from Australia to destinations all around the globe – but they don’t do it cheaply. Banks offer some of the lowest exchange rates on the money transfer market and also charge fees of around $20 to $30, so it’s often worth your while to compare your options and see if a cheaper transaction may be available.
One potential cheaper option is a specialist money transfer company. These companies have grown in popularity in recent years and they are experts when it comes to offering safe and affordable international transfers. Because they trade such huge volumes of currency every day, these companies offer much better exchange rates than the banks, and often charge lower fees as well.
Sue needs to send $1,000 to her son Pete, who is on holiday in Seychelles. Pete lost his wallet overboard on a snorkelling trip and needs some extra money as fast as Sue can send it. Sue knows that her bank will offer a dismal exchange rate and then take a couple of days to complete the transfer, so she compares two well-known cash pickup transfer companies to see if she can find a more suitable deal.
As you can see from the table below, while the second company offers a superior exchange rate, using the first company allows Sue to save $45 in transfer fees.
|Money transfer company 1||Money transfer company 2|
|Exchange rate||1 AUD = 9.068054 SCR||1 AUD = 9.1915 SCR|
|Transfer method||Cash pickup transfer||Cash pickup transfer|
|Processing time||10 minutes||10 minutes|
|Amount received (in SCR)||9,068.05||9,191.50|
How do I compare transfer companies when transferring and receiving money via the Seychelles?
- Exchange rates. Exchange rates can differ substantially between providers and make a huge difference to the value for money you receive. Look for the provider that regularly offers better rates than its competitors.
- Transfer fees. How much will you need to pay in fees each time you send a transfer? Can you avoid paying fees when you send a large amount?
- Transfer methods. Does the company offer a transfer method that is convenient for you, such as online or in-branch transfers?
- Transfer options. Can you schedule repeat payments in advance rather than manually lodging a transfer request each time? Are there transfer options such as limit orders available to help you get the exchange rate you want?
- Minimum and maximum limits. Check the minimum and maximum limit the company applies to each transaction and make sure they suit your needs.
- Processing times. While come companies take multiple business days to process transfers, others can complete transactions within 10 minutes — but you usually have to pay more for rapid transfers.
- Pickup options. Will the money be sent as a bank account transfer, cash pickup transfer or via another method?
- Customer service. Check how customer support is offered (online chat, phone, email) and whether the company has a good reputation for dealing with customer complaints.
How do I send money to the Seychelles from Australia?
- Specialist transfer providers. Shop around to see which online transfer companies send money to Seychelles from Australia.
- Cash pickup transfer companies. Western and Union and MoneyGram both have several cash pickup locations in Seychelles.
- Bank transfers. Compare your bank’s exchange rates and fees with those offered by other providers.
- International cheques. If you’re not in a hurry, you could consider posting an international guaranteed cheque.
How do I receive money from the Seychelles in Australia?
- Specialist transfer providers. Start researching to find a specialist online transfer company that will let you send money from Seychelles.
- Cash pickup transfer companies. Search online to find your nearest Western Union or MoneyGram cash pickup location.
- Bank transfers. Your friend or family member in Seychelles could send money from their bank account to your Australian bank account.
- International cheques. You could ask your loved one to post a cheque to Australia.
Emergency cash transfers in Seychelles
If time is of the essence and you need to send money to Seychelles as quickly as possible, cash pickup transfer companies can complete transactions in as little as 10 minutes. Before you send a cash transfer, however, make sure that you review just how much the transaction is going to cost you. Higher fees and lower exchange rates often apply, so know what you’re agreeing to before you part with any money.
Cash pickup locations in Seychelles/ Western Union / MoneyGram branches in the Seychelles
With scores of locations in Australia and Seychelles, Western Union and MoneyGram can offer fast and convenient cash transfers between the two countries. While there are some popular cash pickup locations listed below, you can search for your nearest location through the Western Union or MoneyGram website. You’ll also need to have the details of your transaction and photo ID ready when you go to collect funds.
- Double Click Exchange
A Block Unity House VictoriaMahe SeychellesVictoria, Mahe+248-325540Open 8:30am to 6:30pm Monday to Friday, 8:30am to 4:30pm Saturday and 9am to 2pm Sunday
- Double Click Exchange
Stc HypermarketBois De RoseVictoria, Mahe+248-2519577Open 8am to 7pm seven days a week
- Anse Aux Ping
Shop No 03, Chalam BuildingAnse Aux Ping,+248-2636788Open 8am to 9pm seven days a week
- Double Click Exchange
Providence BranchProvidence, Mahe+248-2636787Open 8am to 10pm seven days a week
Kingsgate HouseVictoria,294083Open 8:30am to 3pm Monday to Thursday, 8:30am to 3:30pm Friday, 8:30am to 11:30am Saturday
- Savings Bank
MaheOrion MallVictoria,00248294000Open 8:30am to 2:30pm Monday to Friday, 8:30am to 11am Saturday
- Masons Xchange
VictoriaRevolution AvenueMahe,4288893Open 9am to 4:30pm Monday to Friday, 9am to 12pm Saturday
- UAE Exchange
Independence Avenue103 Capital City BuildingVictoria, 15864423000Open 8:30am to 4:30pm Monday to Friday, 8:30am to 12:30pm Saturday and Sunday
Tips for picking up cash in Seychelles
The Department of Foreign Affairs and Trade only recommends that Australian visitors to the Seychelles exercise normal safety precautions, so keep the following basic tips in mind when picking up cash.
- Take a friend with you and avoid any dodgy areas
- Keep the money hidden and never display it in public
- Don’t carry the funds on your person for any longer than is absolutely necessary — deposit them into your bank account as soon as possible
What are the steps to send money to Seychelles?
- Sign up for an account. Many online transfer companies will require you to sign up for a free account, but this may not always be necessary. However, you will need to provide your name, address and contact details.
- Enter your transaction information. The next step is to provide all the details of your transaction, including where you are sending your money, in what currency, and the amount to be transferred.
- Pay for your transfer. If you’re happy with the exchange rate and transfer fee on offer, pay for your transfer and keep any receipt so that you can track your transfer.