7+ best ways to send money to the Central African Republic | finder.com

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Send money to Central African Republic (CAR)

Your options will be limited, but you can still get competitive rates.

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The Central African Republic is not a popular transfer destination, which means you’ll have fewer providers to choose from. But you can still save money by using a transfer specialist instead of your bank.

Restrictions on sending money to the Central African Republic

The Central African Republic is subject to international sanctions. As a result, you may be required to provide additional information when sending money there, and some transfers may be restricted.

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Enter the amount you want to send and select Calculate to compare minimums, turnaround and fees. Select Go to site to sign up and send money.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 1 Same day USD 0.00 548.114 XAF 2,740,569 XE has fast transfers with no fees and a range of foreign currency tools. Go to site Show details
$10 Within an hour USD 1.99 539.58 XAF 2,696,824 Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Go to site Show details
$1 Within an hour USD 3.99 548.279 XAF 2,739,207 WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups. Go to site Show details

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

Best ways to send money to the Central African Republic

Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to the Central African Republic. Some offer cash pickup in as little as a few minutes, while others transfer to bank accounts.

1. Digital money transfer services

Companies like Remitly and XE specialize in foreign currencies, making them some of the most cost-effective ways to send money to the Central African Republic. Most offer transfers directly to your recipient's bank account in the Central African Republic, often in as little as a day or two.
  • Why? Digital money transfer services are cheaper because they exist online and don't have as many employees or physical locations.

2. Cash transfers

Services like World Remit and Western Union allow you to transfer cash for pickup at a local branch in the Central African Republic— often in 15 minutes. While it's a fast way to send money, you'll pay for the convenience in weak exchange rates and high fees.
  • Why? Picking up cash is more expensive because more people are involved.

3. Banks

The Central African CFA franc may be offered by your bank, but beware of high fees and wide margins on the exchange rate. Compare bank transfers to digital services and other options before sending a wire transfer to the Central African Republic.
  • Why? Banks offer money transfers as a secondary service so don't strive to offer competitive prices.

Let's crunch the numbers: Sending $1,000 to the Central African Republic

Let's say you need to send $1,000 to family in the Central African Republic. Here's what you might face as far as fees and exchange rates as of March 4, 2021.
Digital money transfer service Cash transfer Bank transfer
Fee $0 $4 $25 + additional correspondent bank fees
Exchange rate 1 USD = 541.958 XAF 1 USD = 543.596 XAF 1 USD = 517.011 XAF
Transfer speed 1-2 days Minutes 2-5 days
Amount received XAF$541,958 XAF$541,427 XAF$504,086
  • Best value
  • Fastest
  • Slowest and most expensive

The bank option ends up being the slowest and gets the smallest amount of money to your recipient in the Central African Republic. A digital transfer sends the most, which is XAF$37,872 more than the bank. For speed, a cash transfer can typically have your transfer to the Central African Republic in as little as 15 minutes. Make sure there's a cash pickup location near your recipient before sending.

How to send money to the Central African Republic online

Sign up and send money to the Central African Republic with a digital money transfer specialist in four steps:

  1. Sign up for a free account. Compare and pick a provider before signing up for a free online account using your contact information, proof of ID and preferred payment method.
  2. Provide transfer details. Submit your recipient's contact information and pick a delivery method. If transferring to a bank, you'll need their bank account details in the Central African Republic.
  3. Confirm transfer details. Double-check your payment method, expected fees and destination.
  4. Save your receipt. Record your receipt's confirmation number to track the progress of your transfer to the Central African Republic. Some money transfer providers send a text or email when your transfer is complete.

Get the most out of your money transfer to the Central African Republic

Weigh costs and fees against convenience to best compare money transfer providers that send to the Central African Republic. Consider:

  • Exchange rates. The USD-XAF relationship fluctuates, so using a service that allows you to lock in exchange prices may help you save money down the line if the Central African CFA franc rises against the US dollar.
  • Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger USD-XAF exchange rate.
  • Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the amount of Central African CFA francs you're sending to the Central African Republic.
  • Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to the Central African Republic.
  • Sending limits. Comparing prices for one large transfer instead of many small transfers is typically easier, so picking the service you use based on how much you're sending is a valid strategy for saving money.
  • Transfer methods. Whether you want money sent to a bank account in the Central African Republic or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.

How to send money to the Central African Republic without a bank account

If you don't have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up Central African CFA francs without a bank account.

Emergency cash transfer

When urgency trumps cost to get your money to the Central African Republic quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.

The Central African Republic's exchange rates explained

Banks and money transfer companies use exchange rate to calculate how much the Central African Republic's currency is worth when converted to USD. The USD-XAF relationship can change daily based on global economic stability, interest rates, inflation and more.

Today's exchange rate USD to XAF

Updated: 05 Mar 2021 22:36:10 UTC

What to watch out for

Sending money to relatives or family members in the Central African Republic may be subject to taxes on the money transfer and certain documents may be required.

Taxes on transfers to the Central African Republic

In general, any large transfers being sent from the US to the Central African Republic should be filed with the IRS to avoid any penalties.

Documents needed to receive money in the Central African Republic

To pick up money in person, documentation may include:

  • Transfer number. The person sending you money can forward the transfer's confirmation details — called a PIN, a MTCN, a reference number or a tracking number, depending on the company.
  • Government-issued ID. A passport or similar official ID may be required to pick up your transfer.
  • Amount sent. You may need to know how much was sent, usually within 10% of the total.
  • Sender's information. Take along your sender's full name, the sending country and their address, if known.

Bottom line

Sending your hard-earned money to the Central African Republic shouldn't cost a fortune. Compare money transfer companies that specialize in foreign transactions for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.

Frequently asked questions

What documents are needed to send money from the US?

To send money from the US to the Central African Republic, you'll need documentation and details that include:

  • Identification. Most services require a driver's license, passport or other government-issued ID. Some services allow you to send transfers without ID, but they may require your SSN.
  • Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal checks.
  • Recipient information. Submit your recipient's name as it appears on their ID, along with their phone number, bank account and routing number information in the Central African Republic.

Can I use PayPal in the Central African Republic?

PayPal does not offers service in the Central African Republic. Instead, compare money transfer options that allow you to send money to the Central African Republic.

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