Enjoy safe, secure and affordable transactions when you need to send money to Lesotho.
Completely surrounded by South Africa, the landlocked country of Lesotho covers just 11,500 square miles. The country gained its independence from Great Britain in 1966, and the United States was one of the first countries to establish an embassy in Maseru (the capital) following that time. The US and Lesotho have enjoyed positive and friendly relations ever since, with the US providing humanitarian aid and assistance in the ensuing decades.
There are plenty of options to choose from if you need to send money to Lesotho, including banks and specialist money transfer companies. You just need to shop around to find the best deal.
Banks versus money transfer services
If you’re thinking about sending money to Lesotho via your bank, think again. Sure, your bank can easily send international wire transfers all around the world, but you’ll have to pay a high transfer fee (usually from $25 to $75) for the privilege. Banks also offer dismal exchange rates on international transfers, so you can usually do your hip pocket a big favour if you consider a specialist money transfer company.
These companies don’t spread themselves across a wide range of products and services like the banks; they specialise in sending money internationally and can therefore offer far superior exchange rates. They also charge lower transfer fees and offer secure transfers, allowing you and your beneficiary to enjoy a better financial deal.
Blessing is spending two years studying and working in the United States, and she wants to send part of the money she has saved back home to her parents in Lesotho. But when she sees that the low exchange rate offered by her bank will eat a big chunk out of her $1,000 transfer, she approaches two money transfer companies to see if they can offer a cheaper transfer.
|Money transfer company 1||Money transfer company 2|
|Exchange rate||1 USD = 13.28 LSL||1 USD = 13.17 LSL|
|Transfer method||Cash pickup||Cash pickup|
|Processing time||10 minutes||1 hour|
|Amount received (in LSL)||13,280 LSL||13,170 LSL|
As you can see, Blessing can send an extra 110 Lesotho Loti and also save USD $ 9 in transfer fees by using the first company to handle her transfer.
How to compare transfer companies when transferring money to Lesotho
- Exchange rates. How does a company’s exchange rate compare to the rate offered by other transfer providers? Does the rate come with a high transfer fee attached?
- Fees. How big a fee will you have to pay each time you send a transfer? Can you avoid fees altogether by transferring a large amount, for example $5,000?
- Transfer methods. Can you use a mobile app to place transfers? Does the company provide branch locations close to you? Can you place transfers online or over the phone?
- Transfer options. Can you only place one-off transfers or are there more flexible options available to help you save money or time?
- Turnaround time. From the time you pay for your transaction, how long will it take for your funds to arrive in your recipient’s wallet or bank account?
- Minimum transfer amount. Will you need to exceed a minimum transfer limit for each transaction and will it be convenient for you to do so?
- Pickup methods. How can your beneficiary access the funds you send: from their bank account or by picking up cash from a transfer agent?
- Customer service. Can you rely on phone and/or email support if you have a query about a transaction? Is there an online help centre?
How to send money to Lesotho from America
- Bank transfers. Transfers between banks are a secure but expensive transfer method.
- Online money transfer providers. Companies like TransferMate offer online transfers to Lesotho.
- Money transfer companies with cash pickup options. MoneyGram and Western Union offer transfers to agent locations throughout Lesotho.
- Checks. Check with your bank to find out how much it will cost and how long it will take to send an international check.
Emergency cash transfers in Lesotho
If you need to send an urgent transfer to Lesotho — maybe you need to help out a friend who is travelling through Lesotho and has had their wallet stolen — you shouldn’t have any trouble finding a company that can send secure, instant (or thereabouts) transfers. A word of warning, though: these emergency transfers do cost more than regular ones, with high fees and low exchange rates both common features. Take a few moments to check all the details of your transfer and calculate exactly how much it will cost you before you part with your cash.Back to topFind a money transfer location near youBack to top
Tips for picking up cash in Lesotho
- Confirm the transfer agent’s address before visiting
- Only visit an agent in an area that is safe
- Visit a transfer agent in daylight hours if possible
- Ask someone to accompany you to provide added security
- Don’t display your cash in public and don’t carry large sums around for long
- Deposit the funds in your bank account or in a safe place ASAP
How to send money to Lesotho
Regardless which company you choose to handle your transfer, you’ll need to provide certain details before you can send funds anywhere. These include:
- Your name, address and contact information
- A valid form of photo ID, such as your driver’s license or passport
- The name and contact details of your beneficiary
- Where you wish to send your transfer
- The amount of money you wish to transfer and the currency in which it will be sent
Once you’ve supplied all the relevant details you can pay for your transfer. You will then receive a transaction reference number which you can use to check up on the progress of your funds.