Send money to Benin | finder.com

How to send money to Benin

A cash transfer is the fastest option — but not the cheapest.

Last updated:

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

Compare your options to send money to Benin based on fees, exchange rates and transfer times.

Compare transfer providers for Benin

Enter your transfer amount in the space provided to estimate your transfer cost with different providers.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 1 Within an hour USD 0.00 593.013 XOF 2,965,063 Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
USD 1,000 1 day USD 0.00 592.179 XOF 2,960,895 No-maximum limit transfers with competitive exchange rates for 100+ currencies. 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.

Learn more about

Step-by-step: How to send money to Benin

  1. Choose your transfer service and go to its website.
  2. Create or sign into an account with that service.
  3. Enter the details of your transfer, including the recipient and the amount.
  4. Confirm the details and make your payment.

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

The best way to send money to Benin depends on your situation. The main options include the following:

Blue icon representing money transfers Image: Infogram

Money transfer services

There are a number of online money transfer services that combine options such as cash pickup, bank account transfers and mobile money to deliver flexible and cost-effective transfers.

Picture not described: BlueCoinsCashIcon_Infogram_94x62.png Image: Infogram

Cash transfers

Cash transfer services and pickup points are widely available in Benin.

Picture not described: BlueBankIcon_Infogram_62x56.png Image: Infogram

Banks

You may be able to send money to Benin through your bank, although the costs can be high.

Let’s crunch the numbers: Sending $500 to Benin

The table below shows how much it can cost to send money to Benin with different transfer services.

Transfer company A Transfer company B
Fee $11.99 $0
Exchange rate 1 USD = 565.3383 XOF 1 USD = 553.4175 XOF
Transfer speed Next day Next day
Amount received XOF275,890.74 XOF276,708.75
Overall XOF818.01 less XOF818.01 more

In this situation, the two transfer companies are pretty close, coming within less than US$2 of each other. But if you needed your transfer to get there even faster, you could also pay a little more to get a cash pickup.

How long will it take to send money to Benin?

How long it takes to send money to Benin depends on which transfer method you use.

Cash pickup and mobile money are usually instant, but any time there’s a bank transfer involved, it can take several days longer.

Emergency cash transfer

If you want to send money in a hurry, you can send money to be picked up at locations around Benin with services such as WorldRemit, Western Union or MoneyGram.

How to send money to Benin without a bank account

It’s often cheaper to have money sent to your recipient’s bank account with a money transfer service, but if your recipient doesn’t have one, you can still send a cash transfer or a mobile money delivery.

If you don’t have a bank account, you can still pay with cash at a money transfer agent location or send money through your own mobile money app.

What to watch out for

The West African CFA franc (XOF) used in Benin is pegged to the euro at a fixed rate. As such, the exchange rates you get will vary depending on what the USD/EUR exchange rate is doing.

Documentation you’ll need to send money to Benin

When sending money to Benin, you’ll need to provide the following information:

  • Personal details and identification. You’ll need to give your name, address and proof of identity.
  • Transfer details and why you’re sending the money. You will typically be required to enter the reason for transferring the money, among other details such as the amount and the currencies.
  • Recipient’s details. You will have to provide the recipient’s details so the money can find its way to the right person. If you want it delivered to the recipient’s bank account, you’ll also need to get their banking details.

What to compare to get the best deal

When sending money to Benin, compare:

  • Fees. How much are you being charged in flat fees?
  • Exchange rates. How many CFA francs are you getting for your US dollars?
  • Transfer speed. How long will the transfer take?
  • Payment options. Can you pay by cash or card? Do you have to make a bank transfer?
  • Delivery methods. How can the recipient get their money? Options include mobile money, cash pickup and bank transfer.
  • Customer service. Can the money transfer service help out in case something goes wrong?

Foreign exchange rates explained

The exchange rates are how much of one currency you get for another and different transfer services will charge very different amounts through varying exchange rates.

To find out how good your quoted exchange rates are, compare them to the USD/XOF mid-market rates you can find online.

Today’s exchange rate USD to XOF

Cash pickup locations in Benin

Bottom line

Using an online transfer provider to deposit money directly into your recipient’s account is usually the cheapest option, but if you need the money to arrive instantly you can order a cash pickup for a little more. To get the best deal on your next overseas transfer, compare money transfer providers before getting started.

Image source: Getty Images

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site