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How to send money to Gambia

Are you looking for ways to send money to Gambia from the US? This guide will show you how.

When you need to get money to a loved one overseas, the last thing you want to deal with is navigating a potentially complicated and expensive process. Sending money from the United States to Gambia doesn’t have to be expensive. Compare the transfer fees and exchange rates of the options available to you to get the best deal.
From bank transfers and online transactions to options that allow recipients to collect your funds within minutes, sending an international money transfer to Gambia is easy. But do your research and shop around for the best available deal.
WorldRemit International Money Transfers

WorldRemit International Money Transfers

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    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
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    • Forecasting
    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Services Amount Received Description CTA Details
    USD 1 3 - 5 days - - Online, Phone, Bank Account to Bank Account, Cash Transfer No fees for bank account transfers and cash pickup at 240,000 locations in 130+ countries. Go to site Show details
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    Case study: Banks vs money transfer companies
    Lamin Dibba came to America as a student. After he completed his college education, he found a suitable job that let him remain in the U.S. Since his parents continue living in Gambia, he wishes to start sending them some money. He figures he can afford to send around $1,000 once every couple of months.

    The U.S. bank he has an account with does not carry out transfers to Gambia, given its exotic currency. Lamin turns to the internet to compare money transfer companies, and this is what he finds.

    Money transfer service 1Money transfer service 2
    Exchange rate$1 = GMD 26.5109$1 = GMD 27.42305
    Transfer fee$0$13.99
    Amount received for $1,000GMD 26,510.90GMD 27,039.40
    Transfer time1-2 daysInstant
    Transfer optionsBank accountCash pickup
    Difference ofGMD 528.50

    While the second money transfer company charges a fee for its services, it results in Lamin’s father getting more money because of the superior exchange rate.

    How do I compare transfer companies when sending money to Gambia?

    Since there are numerous money transfer companies to choose from, it is important that you compare them across different parameters.

    • The monetary aspect. Some service providers lure customers by offering highly competitive exchange rates or fee-free services. This can be a problem if a high fee accompanies a seemingly favorable rate, or if you get an unfavourable rate while not paying any fees. A simple way to pick the more lucrative option is to compare how much money the recipient stands to receive.
    • Ways to send money. If your bank permits fund transfers to Gambia, you can start the process in person, online or over the phone. Some money transfer companies operate out of stores and kiosks that you can visit to send money in person. Most let you carry out online transfers and some let you initiate the process over the phone as well.
    • Ways to receive money. Some prominent money transfer companies that provide money transfer services to Gambia from America only offer cash pickup as an option. However, you can find some international money transfer companies that let you transfer funds directly into Gambian bank accounts.
    • Methods. If you wish to send money to Gambia regularly, you can benefit from working with a company that lets you schedule automatic transfers based on a frequency of your liking. This takes away the need to go through the entire process repeatedly. Some money transfer companies also offer forward contracts and market orders.
    • Turnaround time. If you’re sending money that the recipient will collect from a cash pickup location, the transfer can go through almost immediately. If you’re sending money to a Gambian bank account, money transfer companies can take one to three days to complete the process. Banks tend to take longer.
    • Minimum limit. Some money transfer companies have minimum limits in place, which can vary from $500 to $1,000.
    • Customer service. Customer service of a money transfer company can play an important role, especially if you plan to send money periodically. Ideally, you should be able to contact a company representative over the phone and via chat, not just via email.
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    Foreign exchange rates explained
    The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it will yield more money when exchanging it in a country with a weak currency. For example, in December 2016, the U.S dollar was worth approximately 19 Mexican pesos. However, most countries’ exchange rates are flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.

    Ways of sending money to Gambia from America

    • Bank transfers. Some major banks offer wire transfers to Gambia.
    • Money transfer providers. Online providers like TransferWise and WorldRemit can help you transfer money quickly and easily. World First and OFX are both trusted partners of and are offering Finder readers an exclusive deal of $0 in fees.
    • Transfer companies with cash pickup. Providers like Western Union and MoneyGram offer this service — your recipient can sometimes pick up the cast within minutes.
    • PayPal. You can send money abroad using your PayPal account.

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    Tips for picking up cash in Gambia

    Whether you’re picking up cash in Gambia or any other country, take a safety-first approach. Use common sense, such as keeping your cash hidden and depositing it with your bank as soon as possible. Taking a friend along with you to collect the funds is also a good idea.

    Bear in mind that this country still remains a largely cash-based economy. ATMs in Gambia can be unreliable. And not all hotels accept traveler’s checks.

    What are the steps to send money to Gambia?

    The steps you have to follow and the details you have to provide depend on the method you choose.

    • To a bank account. You’ll have to provide details such as the recipient’s name, account number, bank’s name and bank’s SWIFT code. If sending money through a money transfer company, you’ll have to provide details of your bank account, debit card or credit card. The time the transfer takes to complete depends on the service provider you choose. You should get a reference number when you make the transfer, which you can use to track its progress at any stage.
    • To a cash pickup location. You’ll have to provide the recipient’s name as well as a desired cash pickup location. To make the payment, you’ll have to provide your bank account, debit card or credit card details. Once you make the transfer, you’ll get a reference number. Pass this on to the recipient. The transfer should take place almost instantly.
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