How You Can Send Money to Ethiopia Securely

Information verified correct on February 23rd, 2017

Ethiopia

Compare exchange rates and transfer options to find the cheapest transactions when you need to send money to Ethiopia.

Located in the Horn of Africa, Ethiopia boasts an intriguing archaeological history and is home to around 100 million people. If you ever want to send a money transfer from Australia to this landlocked African nation, there are plenty of ways to do so.

Before you choose a transfer method, however, it’s essential that you compare the options at your disposal to see which one is the most affordable.

Compare Money Transfer Services

Rates last updated February 23rd, 2017

Enter your details to speak to a foreign exchange expert

By submitting this form, you agree to finder.com privacy policy
Ofx Logo

Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.

With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:

  • Buying property abroad
  • Emigrating
  • Regular overseas payments
  • Risk management
  • Forecasting

Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
Wyre International Money Transfers
No transfer fees for finder... No transfer fees for finder.com readers. Make transfers with Bitcoin.
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
World First Foreign Exchange
Exclusive offer: $0 transfer fee ... Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 100 currencies.
USD 500 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
WorldRemit International Money Transfers
Use promo code FREE to ... Use promo code FREE to send your first transfer for no fee, to over 110 countries for bank-to-bank deposit, cash pickup or mobile top-up.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
Go to site More
TransferWise International Money Transfers
Enjoy high maximum transfers into ... Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
OFX International Money Transfers
Send safe... Send safe, no-limit transfers with no fees and competitive exchange rates.
USD 150 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
Payoneer International Money Transfers
Ideal for worldwide business payments ... Ideal for worldwide business payments to more than 200 countries and 150 currencies.
USD 20
Online
Rates are always
changing, click to check
your price today
Go to site More
RIA Money Transfer
No fees for bank account ... No fees for bank account transfers and cash pickup at 240,000 locations in 130+ countries.
3 - 5 days
Online
Rates are always
changing, click to check
your price today
Go to site More
HiFX International Money Transfers
Transfer money into 20 currencies ... Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.
USD 100 2 days
Online
Rates are always
changing, click to check
your price today
Go to site More
Moneycorp Exchange Experts
Full-service specialist offering competitive exchange ... Full-service specialist offering competitive exchange rates on personal international money transfers.
USD 50 1 day
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
TorFX International Money Transfers
No hidden fees and a ... No hidden fees and a best rate guarantee for 60 global currencies.
USD 150 1 day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
Wells Fargo Bank
While more expensive than other ... While more expensive than other options, securely send money to 13 Latin American and Asian countries.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
More

Have we missed anything in the comparison table? Tell us

  • If the provider quotes a different rate to the one above please let us know

Banks versus money transfer companies

One convenient option when you need to send money overseas is to ask your bank to take care of the transaction. But while banks certainly present a convenient option when it comes to international money transfers, their services are far from affordable. Banks are known for their high transaction fees and terrible exchange rates, so you can usually find a cheaper option by looking elsewhere.

When hunting around for a provider to help you send money overseas, consider the services offered by specialist online money transfer companies. These companies trade in high volumes of foreign currency, allowing them to offer much better exchange rates than the banks. They also charge lower transaction fees, allowing you to save money whenever you send funds overseas.

Case Study: Anne Sends Money to Ethiopia

Anne’s friend Jonathan lives in Ethiopia and is in desperate need of money to pay for repairs to his car. Anne offers to send him $1,000 as quickly as she can, and she looks around to find a company that offers urgent cash transfers. Since her bank doesn’t support exotice currencies, she compares two specialist companies offer this service, she compares their exchange rates and fees to see which one offers the superior deal.

As you can see in the table below, Anne can save AUD $15 in transfer fees by using the second transfer company and also send an extra 6 ETB to Jonathan.

Money transfer company 1Money transfer company 2
Exchange rate1 AUD = 14.401 ETB1 AUD = 14.407 ETB
Transfer fee$40$25
Transfer methodCash pickup transferCash pickup transfer
Processing time10 minutes10 minutes
Amount received (in ETB)14,401 ETB14,407 ETB

Back to top

Questions I should ask myself when transferring and receiving money via Ethiopia

  • Exchange rates. What sort of exchange rates does the company offer? How do they compare to those offered by other providers?
  • Transaction fees. How much will you be charged in fees each time you send an international transfer? Can you avoid fees by sending a larger amount of money?
  • Transfer methods. Can you place transfers online, in a branch, over the telephone and/or through a mobile app?
  • Flexible options. Can you set up a regular payment schedule to save you time in the future? Can you place limit orders or forward contracts to secure a better deal?
  • Transfer time. How long will it take for the money to arrive to your recipient? Processing times typically range from a few minutes to several working days.
  • Minimum transfer amounts. Are there any minimum or maximum transfer limits that apply to each transaction? Will they regularly affect your transfer requirements?
  • Pickup options. Will the funds be available to be collected in cash, be sent to your recipient’s bank account or transferred in some other way?
  • Customer service. If something ever goes wrong with a transaction or you have a question about the company’s services, will you have quick and easy access to customer support?
Back to top

How do I send money to Ethiopia from Australia?

  • Specialist money transfer providers. Start researching now to find out which international money transfer providers allow you to send money to Ethiopia.
  • Cash pickup transfer companies. Western Union and MoneyGram are the two largest cash pickup transfer companies in the world.
  • Bank transfers. Bank transfers are a convenient option but are typically quite costly.
  • International cheques. An old-school transfer method is to post an international guaranteed cheque to your beneficiary.

How do I receive money from Ethiopia in Australia?

  • Specialist money transfer providers. Specialist online transfer companies offer better exchange rates and lower fees than the banks.
  • Cash pickup transfer companies. Choose a cash pickup transfer company that offers affordable transactions and a pickup location close to you.
  • Bank transfers. Bank transfers are another option when receiving money from Ethiopia, but shop around to see just how affordable they are.
  • International cheques. Check with your bank to find out how much it costs to cash an international cheque.
Back to top

Emergency cash transfers in Ethiopia

In certain circumstances you may need to send a cash transfer from Australia to Ethiopia as quickly as possible. If you find yourself in this situation, make sure you’re aware that emergency international cash transfers usually cost more than standard online transfers. Thanks to low exchange rates and increased fees, you’ll pay more for your transfer than you would in normal circumstances – so review the details and cost of your transaction before you hand over your money.

Back to topFind a money transfer location near you

Tips for picking up cash in Ethiopia

The Department of Foreign Affairs and Trade advises Australians to reconsider their need to travel to Ethiopia. If you wish to visit the country nonetheless and you need to pick up a cash transfer while there, keep the following tips in mind:

  • Only visit a transfer branch in an area where you feel safe
  • Keep your cash hidden – don’t display it in public
  • Take a friend along to provide extra security
  • Don’t carry a large sum of money around with you for any longer than is necessary
Back to top

What are the steps to send money to Ethiopia?

You’ll need to check the exact money transfer process with the transfer company you choose, but you will generally need to:

  1. Register for an account. Accounts are usually free to sign up for and you can do this online. You will need to supply your full name, contact information, proof of ID and bank account details.
  2. Enter your transaction details. The next step is to enter all the relevant transaction information, including how much money you’re sending and in what currency. You’ll also need to specify who will be receiving the transfer.
  3. Finalise the transaction. After reviewing the cost of your transaction, it’s time to finalise and submit your transfer request. Most companies also provide an online tracking service so that you know when your funds have been delivered.
Was this content helpful to you? No  Yes

Ask a Question

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

Disclaimer: At finder.com we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com privacy policy.

US International Money Transfers Offers

Learn about our information service
HiFX International Money Transfers

Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.

WorldRemit International Money Transfers

Use promo code FREE to send your first transfer for no fee, to over 110 countries for bank-to-bank deposit, cash pickup or mobile top-up.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 100 currencies.

TransferWise International Money Transfers

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

feedback