What’s the best way to send money to Congo-Brazzaville?
There are several different ways of getting money to Congo-Brazzaville. What’s best will depend on what you and the recipient are looking for.
Money transfer services. Money transfer services can be one of the most cost-effective choices, with delivery options including both bank transfers and mobile money, and highly competitive exchange rates.
Cash transfers. This can be a quick option if you need to send money in a hurry, but it does come at a higher cost.
Banks. Bank transfers are reliable, but can also be slow and expensive compared to other options. The recipient will also need to have a bank account.
Let’s crunch the numbers: Sending €1,000 to Congo-Brazzaville
The table below shows an example of how much it costs to send a money transfer to Congo-Brazzaville with two different services. You can see the difference between options and how much you can save on a transfer by comparing carefully.
Cash transfer service
Online money transfer service
1 EUR = 646.3011 XAF
1 EUR = 655.96 XAF
2 working days
Total CFA francs received
By choosing one money transfer service over the other your recipient can get around XAF9,000 more in Congo, thanks to more favourable rates.
The downside is that, in this case, the transfer would take longer.
What’s the fastest way to send money to Congo-Brazzaville?
The fastest way to send money to the Republic of Congo will typically be cash transfers or mobile money services.
The advantage of mobile money over cash pick-ups is that they can be immediately sent to someone anywhere in the country, rather than requiring the recipient to go to a pick-up location. The downside is that the recipient will need to have a mobile money account with a participating provider.
Emergency cash transfer
Services such as MoneyGram or Western Union can let you send emergency cash transfers to the Republic of Congo for pick-up in locations around the country. However, the recipient will need to travel to the pick-up location and the agent’s store will need to be open at the time, which might delay pick-up.
For instant 24-hour delivery anywhere in the Republic of Congo, a mobile money transfer might be more suitable. Note that your payment method can also affect transfer speeds. For an immediate transaction, you may have to pay the money transfer service with cash or card instead of a bank transfer.
How to send money to Congo-Brazzaville without a bank account
If you don’t have a bank account you can still use a money transfer service with agent locations near you, to pay with cash.
If the recipient doesn’t have a bank account, you can still send money to them for cash pick-up, or with a mobile money service.
Instant transfers are often more expensive. As such, it can be worth opting for a slightly slower transfer if you’re not in a major hurry.
Some services will let you send money in 1-2 business days at a considerably lower cost than others.
Documentation you’ll need to send money to Congo-Brazzaville
There are several different types of documentation and information you’ll typically be required to provide when sending money overseas.
Personal identification. You will need to provide some personal details, such as your name and address, and may need to present supporting identification such as a driver’s licence or passport.
Recipient information. Transfer services will also typically require you to provide information on the recipient. You will naturally need to provide details such as their mobile number for a mobile money transfer, or bank details for a bank account transfer, but may also need to give their name and other information.
Transfer details. You will need to give some details about the transfer. The desired currencies and amount will be required, but some services might also ask you to provide a reason for the money transfer and other details.
What to compare to get the best deal
Cost is one of the main factors to look at when comparing money transfer services, but it’s composed of both the fees and the exchange rate, so you’ll have to look at both. And beyond cost, other factors can be just as important.
Factors to consider when comparing money transfer services include:
Fees. This is how much the transfer service charges in straightforward fees.
Exchange rates. This is how much of one currency you get in exchange for another. This can be even more important than the fees.
Transfer speed. How long will the transfer take?
Payment options. Make sure you have suitable payment options. If you’re looking to pay with cash, for example, you will need to find a provider that supports this.
Delivery methods. How does the recipient want to get the money? This can also affect the transfer speed.
Customer service. Make sure your money transfer service has a suitable customer service presence in case something goes wrong.
Foreign exchange rates explained
The exchange rate refers to what one country’s currency is worth in another currency. In this case, it’s how much Central African CFA franc you get from one euro. If you want to get the best value for money, make your transfer when the EUR is strong compared to the XAF.
Andrew Munro is the cryptocurrency editor at Finder. He was initially writing about insurance, when he accidentally fell in love with digital currency and distributed ledger technology (aka “the blockchain”). Andrew has a Bachelor of Arts from the University of New South Wales, and has written guides about everything from industrial pigments to cosmetic surgery.
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