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How to send money to Benin

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

Andrew Munro

Updated Apr 27, 2020

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

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Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
USD 1,000	1 day	USD 0.00	575.784	XOF 2,878,918	No-maximum limit transfers with competitive exchange rates for 100+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount USD 1,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, AZN, BGN, BND, CAD, CHF, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, JPY, KRW, KWD, LKR, MAD, MGA, MXN, MYR, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, RUB, SAR, SBD, SCR, SEK, SGD, THB, TOP, TRY, TWD, TZS, USD, VEF, VND, VUV, WST, XOF, XPF, ZAR Go to site Read the full review
GBP 1,000	1 - 2 days	USD 0.00	575.784	XOF 2,878,918	Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000). For larger transfers, get no transaction fees and no maximum send limits.	Go to site	Compare	Show details	Details Minimum transfer amount GBP 1,000.00 Transfer methods Online, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat Available currencies AED, AFN, ALL, AMD, ARS, AUD, AZN, BDT, BGN, BHD, BIF, BMD, BOB, BRL, BWP, CAD, CDF, CHF, CLP, CNY, COP, CRC, CZK, DJF, DKK, DOP, DZD, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GNF, GTQ, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, JPY, KES, KRW, KWD, KZT, LBP, LKR, LSL, MAD, MDL, MGA, MKD, MUR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SEK, SGD, SLL, THB, TND, TRY, TTD, TWD, TZS, UAH, UGX, USD, UYU, UZS, VND, WST, XAF, XCD, XOF, XPF, ZAR, ZMW Go to site Read the full review
USD 1	Same day	N/A	N/A	N/A	Offering no maximum and no minimum limit transfers with $0 fees.	Go to site	Compare	Show details	Details Minimum transfer amount USD 1.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AMD, AUD, BAM, BBD, BDT, BGN, BHD, BND, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EUR, FJD, GBP, GEL, GTQ, HKD, HNL, HRK, HUF, IDR, ILS, JMD, JOD, JPY, KES, KRW, KWD, KZT, LKR, LSL, MAD, MKD, MUR, MWK, MXN, MYR, NAD, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SZL, THB, TND, TOP, TRY, TTD, TWD, TZS, UGX, USD, VUV, WST, XCD, XPF, ZAR Go to site Read the full review
USD 2,000	1 day	N/A	N/A	N/A	$0 transfer fees with rates at never more than a 2% markup.	Go to site	Compare	Show details	Details Minimum transfer amount USD 2,000.00 Transfer methods Online, Phone Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email, Branch Available currencies AED, AUD, CAD, CHF, DKK, EGP, EUR, GBP, HKD, ILS, JPY, NOK, NZD, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review
USD 0	1 - 2 days	USD 1.99	569.968	XOF 2,848,703	Special offers like free transfers and better exchange rates available for new customers. Quick, affordable transfers around the world with both express and economy options.	Go to site	Compare	Show details	Details Minimum transfer amount USD 0.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options N/A Customer service Phone, Chat, Email Available currencies ARS, BDT, BGN, BOB, BRL, CLP, CNY, COP, CRC, CZK, DOP, EGP, ETB, EUR, GHS, GTQ, GYD, HNL, HRK, HTG, HUF, IDR, INR, JMD, KES, KMF, KRW, LKR, MAD, MXN, MYR, NGN, NIO, NPR, PEN, PHP, PKR, PLN, PYG, RON, RWF, THB, TND, TRY, TZS, UGX, USD, UYU, VND, XAF, XOF, ZAR Go to site Read the full review
USD 1	1 - 2 days	-	-		Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.	Go to site	Compare	Show details	Details Minimum transfer amount USD 1.00 Transfer methods Online Transfer options Regular payments, One off payments Customer service Phone, Chat, Email Available currencies AED, ARS, AUD, BDT, BGN, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, EUR, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, USD, UYU, VND, XOF, ZAR, ZMW Go to site Read the full review
USD 1	Within an hour	USD 3.99	579.157	XOF 2,893,473	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	Compare	Show details	Details Minimum transfer amount USD 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Email Available currencies AED, ALL, AMD, AOA, ARS, AUD, BAM, BBD, BDT, BGN, BHD, BIF, BOB, BRL, BWP, CAD, CDF, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, KES, KGS, KHR, KMF, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, MAD, MDL, MGA, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PHP, PKR, PLN, PYG, RON, RUB, RWF, SCR, SEK, SGD, SLL, SOS, SRD, THB, TJS, TND, TOP, TRY, TZS, UGX, USD, UYU, VND, WST, XAF, XCD, XOF, ZAR, ZMW, BYN Go to site Read the full review

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Learn more about

Best way to send
Transfer time
What to watch out for

What to compare
Cash pickup locations

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

Choose your transfer service and go to its website.
Create or sign into an account with that service.
Enter the details of your transfer, including the recipient and the amount.
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.

What services send emergency transfers?

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

Western Union
DOUNIAH VOYAGES AGENCE BAR TIT
Address: Avenue Marche Saint Michel, Cotonou, Littoral
Hours: Mon-Fri 8am to 8pm, Sat to Sun, 11am to 2.30pm
Phone: +229-96-286385
STOP EXCHANGE SARL
Address: 06 Bp 1560 Akpakpa Pk3 Cotonou, Carre 3 Akpakpa Cotonou, Cotonou, Littoral 00
Hours: Mon-Sun 8am to 8pm
Phone: +229-21339539

MoneyGram
BANK OF AFRICA BENIN – COTONOU – ZONGO
Address: Rue Capitaine Adjovi en Face Cabinet Sainte Anne D’ Afrique
Hours: Mon-Fri 7am to 6pm, Sat 8am to 2pm
Phone: 21315204
ETS CRUZ – COTONOU – STE RITA
Address: Quartier Ste Rita Non Loin Du Marche et Pres De L Eglise Cat
Hours: Mon-Fri, 7am to 9pm, Sat 7am to 7pm
Phone: 97202008

WorldRemit
ORABANK CALAVI
Address: Voie Inter-Etat A Coté De La Clinique Coopérative
Hours: Monday – Saturday: 08:00 to 17:00
Phone: +229 2136 2340
FINASSUR
Address: Immeuble Hage Ali Dantokpa
Hours: Monday – Saturday: 08:00 to 17:00
Phone: –
Western Union
AGENCE VITAL PORTO NOVO
Address: Maison Raima, Rue Paroise St Francois, Cotonou
Hours: Mon-Fri 8am to 6pm, Sat 8am to 1pm
Phone: +229-20-226449
ECOBANK IAMD MICROFINANCE
Address: Ouando Quartier Akonaboe, Residence Les Palmiers Lot100, Porto Novo, Oueme 229
Hours: Mon-Fri 8am to 7pm, Sat 9am to 3pm
Phone: +229-20-2472

MoneyGram
BANK OF AFRICA BENIN – OUANDO – OUANDO
Address: Porto Novo En Face De L’Hopital El Fatair
Hours: Mon-Fri 7am to 6pm, Sat 8am to 2pm
Phone: 20247676
RAN SERVICES PLUS – PORTO-NOVO
Address: Maison Chandjiekpon M. Arsene Quartier Dowa
Hours: Mon-Sun 7am to 8pm
Phone: 97323229

WorldRemit
ORABANK PORTO-NOVO
Address: Quartier Cachi Au Rond-Point
Hours: Monday – Saturday: 08:00 to 17:00
Phone: +229 2022 2266

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

Thank you for your feedback!

Andrew Munro

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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How to send money to Benin

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

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