Things You Can Do to Send Money to Seychelles with Exceptional Results

Seychelles

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 island nation, Seychelles is located in the Indian Ocean, off the east coast of Africa; a tourist hotspot for Canadians searching for a tropical paradise, complete with white sand beaches, topaz waters, lush hills and a sublime laid-back tempo. While Seychelles is beautiful, it’s also expensive, since most everything is imported, with the exception of locally caught fish, certain fruits and vegetables and a couple of local brews, including the much-loved SeyBrew Beer and Takamaka Rum.

When it comes to sending money to Seychelles, Canadians have a virtual smorgasbord of suitable options. So how do you make sure you choose the right service for you? Look for one that offers the most return on your dollar, with better exchange rates and lower transaction fees.

Compare Money Transfer Services

Rates last updated February 19th, 2018
Name Product Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received Description
Exclusive: World First International Money Transfers
USD 1,000
1 day
Online, Phone
Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade only.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.
Exclusive: OFX (Ozforex) International Money Transfers
USD 150
1 day
Online, Phone, Agent
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
Citibank Plus Everyday Account
$0
Same day
Online, Phone, Agent, Bank Account to Bank Account
A transaction account with free transfers to any country and no foreign transaction or international ATM withdrawal fees.
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

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Banks versus money transfer companies

Banks can help you send money from Canada to destinations all around the globe – but that doesn’t mean that they should be your go-to. While banks trade at the mid-market rate, they also jack up the exchange rates when completing transactions for clients and, in many cases, charge exorbitant fees. What does this mean? It’s often worth your time and energy to compare your options.

When it comes to transferring funds overseas, many Canadians opt for online transfer services, specialized in offering safe and affordable international transfers. Since these companies trade in large volumes of currency every day, they are better-positioned to offer competitive exchange rates with lower fees than the bank.

Case Study: Sue Sends Money to the Seychelles

Sue needs to send $1,000 to her son Pete, who is on holiday in Seychelles. Pete’s wallet fell overboard on a snorkeling trip and he needs some fast cash to hold him over in the interim. Sue knows that her bank will overcharge on exchange rates, not to mention take several days to complete the transfer. She decides to compare 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 1Money transfer company 2
Exchange rate1 CAD = 9.068054 SCR1 CAD = 9.1915 SCR
Transfer fee$25$70
Transfer methodCash pickup transferCash pickup transfer
Processing time10 minutes10 minutes
Amount received (in SCR)9,068.059,191.50
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How do I compare transfer companies when transferring and receiving money via the Seychelles?

Sue learned a lot from her inquiry into her money transfer options. When comparing services, look for the following features and rates to find the one that offers the most value.

  • Competitive exchange rates. Track down the best rates. While official rates are set, financial institutions can make adjustments to cover their costs, which means more money out of your pocket. Exchange rates can have a big impact on your bottom line and it pays (quite literally) to do your homework.
  • Minimal fees. Look for flexible fees. The bank charges a standard fee on all transfers regardless of the amount. Money transfer services have flexible fees that vary according to the amount being transferred. Simply plug in different cash amounts to see how much your fee is going to be with each service.
  • Various transfer methods. Discover your options. Depending on your circumstances, you may prefer a bank account to bank account transfer rather than a cash pickup. Figure out your limitations, and then choose the right fit for you.
  • Fast transfer times. Don’t get left behind. Money transfer services have faster processing times (most completed within one business day). For regularly scheduled payments the bank is an option, but in case of an emergency, your friendly neighborhood transfer service is your best bet.
  • Suitable transfer amounts. Know your limits and play within them. Some services have a minimum and maximum amount that can be sent with each transaction. Make sure to do your homework.
  • Reliable customer service. Hold reputation in high regard. When transferring money frequently, ensure peace of mind by using a reputable service that will connect you with an agent immediately if there’s a problem with pick-up.
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How do I send money to the Seychelles from Canada?

  • Canadian Banks. Many Canadian banks can facilitate overseas transfers online, but most cost more than a dedicated international money transfer service.
  • Money Transfer Services. Most money transfer services offer lower exchange rates and fees. Just make sure they offer a cash pick-up option in Seychelles so that you don’t run into problems on the receiving end.
  • Cash pickup transfer companies. Western Union and MoneyGram both have several cash pickup locations in Seychelles.
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    Emergency cash transfers in Seychelles

    If time is of the essence and you need to send money to Seychelles in a pinch, search for a cash pick-up option like MoneyGram or Western Union, who can complete transactions in as little as 10 minutes. With this type of service, higher transaction fees and lower exchange rates often apply, so just make sure you know what you’re agreeing to before you sign on the dotted line. Once the money is send, the recipient just needs to present with their passport at the appropriate pick-up location to collect funds.

    Cash pickup locations in Seychelles/ Western Union/MoneyGram branches in the Seychelles

    With scores of locations in Canada and Seychelles, Western Union and MoneyGram can offer fast and convenient cash transfers between the two countries. You’ll typically need to provide a reference number, transfer details and some identification when picking up cash.

    Western Union

    MoneyGram

    • Pick up at Kingsgate House or Savings Bank (Mahe Orion Mall) in Victoria. For pick-ups in Anse Boileau, try Mason’s Xchange (Victoria Revolution Avenue) or UAE Exchange (Independance Avenue).
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    Tips for picking up cash in Seychelles

    If you do plan to visit Seychelles, the Government of Canada recommends that you exercise a normal degree of caution. That being said, if you need to go to an agent to pick up cash, avoid travelling alone and return to your hotel to stow cash in a safe place before continuing on with the rest of your day.

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