Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Send money to Chad
Sending cash is the fastest way to get money to your recipient.
Updated . What changed?
Online money transfer companies will typically be your cheapest option to send money to Chad, but cash delivery can have your money there in a few hours. Converting US dollars to Central African XAF franc doesn’t have to be expensive, so keep the process simple by comparing your money transfer options.
How much does it cost to send money to Chad? Compare your options
Best ways to send money to Chad
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Chad. Some offer cash pickup in as little as a few minutes, while others transfer to bank accounts.
1. Digital money transfer servicesCompanies like XE and Remitly specialize in foreign currencies, making them some of the most cost-effective ways to send money to Chad. Most offer transfers directly to your recipient's bank account in Chad, 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 transfersServices like World Remit and MoneyGram allow you to transfer cash for pickup at a local branch in Chad— 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. BanksThe 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 Chad.
- 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 ChadLet's say you need to send $1,000 to family in Chad. 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 = 540.284 XAF||1 USD = 541.917 XAF||1 USD = 514.458 XAF|
|Transfer speed||1-2 days||Minutes||2-5 days|
The bank option ends up being the slowest and gets the smallest amount of money to your recipient in Chad. A digital transfer sends the most, which is XAF$38,687 more than the bank. For speed, a cash transfer can typically have your transfer to Chad in as little as 15 minutes. Make sure there's a cash pickup location near your recipient before sending.
How to send money to Chad online
Sign up and send money to Chad with a digital money transfer specialist in four steps:
- 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.
- 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 Chad.
- Confirm transfer details. Double-check your payment method, expected fees and destination.
- Save your receipt. Record your receipt's confirmation number to track the progress of your transfer to Chad. Some money transfer providers send a text or email when your transfer is complete.
Get the most out of your money transfer to Chad
Weigh costs and fees against convenience to best compare money transfer providers that send to Chad. Consider:
- 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 Chad.
- 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 Chad.
- 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 Chad or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.
How to send money to Chad without a bank accountIf 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 transferWhen urgency trumps cost to get your money to Chad 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.
What to watch out for
Sending money to relatives or family members in Chad may be subject to taxes on the money transfer and certain documents may be required.
Taxes on transfers to Chad
In general, any large transfers being sent from the US to Chad should be filed with the IRS to avoid any penalties.
Documents needed to receive money in Chad
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.
Sending your hard-earned money to Chad 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 Chad, 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 Chad.
Can I use PayPal in Chad?PayPal offers service in Chad, but sending money from the US to Chad through PayPal may incur additional fees. Read about PayPal in our guide to find out if PayPal is your best choice for a money transfer to Chad.
More guides on Finder
How to separate your finances during divorce
Ways to protect your assets and what you need to know about marital debt.
Tax guidelines and regulations for large money transfers to Hong Kong
Sending a large money transfer to Hong Kong? Learn about laws and required documentation before you transfer.
Palantir reports $289.4M in Q3 revenues, up 52% year-over-year
We sat in on Palantir’s earnings call to find out how the company is doing, what losses it’s facing and what you need to know about the new administration.
How do international money orders work?
Using international money orders to send money overseas? Learn about better options.
What is DeFi? Beginner’s guide to decentralized finance
Confused about DeFi? Find out how it works in this easy-to-read guide.
What is a letter of demand?
Learn what a Letter of Demand is, when to use it and what to include to make it as effective as possible. Find out where you can download free templates.
What is a partnership agreement?
Thinking about a partnership agreement for your small business? See when you need it, how it impacts operations and where to find a template.
16+ retailers with same-day delivery
Whether you need groceries, clothing, flowers or a specific type of battery, here’s how to get what you need today. Plus, see delivery costs.
How do we pick the top money transfer services?
Our top picks are our selection of the best money transfer services, based on our extensive research and market experience. Here’s how we choose them.
Penny stocks and how to invest in them
Learn what they are, how to find them and what you need to know before investing in them.