Best way to send money to Liberia | finder.com

How to send money to Liberia

Compare your options and find a great deal when you need to send money from the US to Liberia.

Making a money transfer doesn’t have to be an expensive process. By comparing your options and finding the right company, you can save on fees and receive an exchange rate that gets your recipient the most Liberian dollars.

World First Foreign Exchange

World First International money transfers

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Because World First is a trusted partner of finder.com, you can send your money transfer overseas for free.

No fees: There is no online transfer fee for all finder.com customers.

  • Enjoy competitive exchange rates.
  • Spot contracts, forward contracts and limit orders are available.
  • Receive weekly updates on market exchange rates.

    Compare money transfer services to Liberia

    Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds to Liberia with our money transfer partners.

    I want to send

    to

    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
    USD 1 Within an hour USD 3.99 130.387 LRD 651,416 Use promo code FINDER to send your first transfer at no fee to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
    USD 1 1 day USD 8.00 126.255 LRD 630,263 Easily transfer cash to more than 350,000 locations around the world. Go to site Show details
    USD 1 3 - 5 days - - No fees for bank account transfers and cash pickup at 240,000 locations in 130+ countries. Go to site Show details

    Compare up to 4 providers

    How do international money transfers work?

    An international money transfer allows you to send money to a recipient overseas. You’ll provide funds to an independent transfer provider, which will then exchange your money to the currency of your choice before sending it along to your recipient.

    You can complete the process in person, online or over the phone, and you can pay for it with cash, card or through your bank account.

    Banks versus money transfer companies

    Unfortunately, many US banks don’t offer international money transfers to Liberia, in part due to political instability in the country in previous years and also due to Liberia’s association with the blood diamond trade. This means that specialist money transfer companies are the best place to start. These companies, such as OFX and WorldRemit, offer fast, secure and much more affordable transfers to Liberia and around the world. Their fees are usually lower than those from a bank, their exchange rates higher and the transactions can be handled from the comfort of your own home.

    Foreign exchange rates explained

    Exchange rates are influenced by economic stability and inflation. When one country’s currency is strong, it yields more when exchanged for a weaker currency. Since the Liberian dollar (LRD) is traditionally weak against the US dollar (USD), you’ll be able to get more Liberian dollars for every dollar you send. As of February 2018, this amount averaged 130.26 LRD per 1 USD.

    How to compare transfer companies when transferring money to Liberia

    By comparing a few elements of your transfer, you can ensure that you get the cheapest deal for your needs.

    • Exchange rates. Nearly all providers skew exchange rates for a profit. Compare the rate you’re offered to the mid-market rate — the rate banks and transfer services use when they trade among themselves — and look for the smallest margin between them.
    • Transfer fees. Find out whether the provider charges a flat fee or a percentage of your transfer. If you’re sending a large amount, ask whether you qualify for a fee-free transfer.
    • Payment and delivery options. Some transfer companies allow you to pay with a credit card online, by phone or through an app. Others offer agent locations for cash payments and pickups. Also ask how your recipient can receive your funds: bank account, cash pickup, mobile wallet and more.
    • Transfer speeds. If it needs to be there fast, companies like Western Union and MoneyGram allow for quick cash pickups, often in minutes. If you have more time, you’ll get better rates and fees with an independent provider.
    • Transfer limits. Your best option might depend on how much you want to send. For large transfers, weigh the best exchange rate — especially since providers encourage large transfers by offering low fees. For smaller amounts, consider the fees you’ll pay on top of the exchange rate.
    • Flexible transfer options. Ask whether you can schedule payments ahead of time or protect your transfer against market fluctuations with a limit order or forward contract.
    • Customer support. Most companies offer customer service by Internet chat, phone, in person or by email. Make sure help will be available if you need it.

    Case Study

    Tony wants to send money to his sister Janine, who is completing volunteer work in Liberia but has run out of money. His bank doesn’t offer transfers to Liberia, so Tony seeks out two cash pickup transfer companies to see which one offers the best deal when transferring $1,000 from the US to Liberia.

    Money transfer company 1Money transfer company 2
    Exchange rateUS dollarsUS dollars
    Transfer fee$40$25
    Transfer methodCash pickup transferCash pickup transfer
    Processing time10 minutes10 minutes
    Amount received (in USD)$1000$1000

    Tony is only able to send US dollars. He decides with to go with the second transfer company since he’ll save $15 on the transfer fee.

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    How to send money to Liberia

    1. Compare your options in the table above.
    2. Click Go to Site once you’ve made your decision.
    3. Create your account and enter your recipient’s information.
    4. Pay for your transfer.
    5. Save your tracking number and receipt.

    Once your transaction is complete, make sure it gets to your recipient on time.

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    What are the ways that I can send money to Liberia

    How safe is a money transfer?

    Reputable money transfer providers will track your funds until they’re in the hands of your recipient.There are federal protections in place that require banks, credit unions and money transfer companies to disclose all fees upfront and give you 30 minutes to cancel a transfer.


    Emergency transfers

    Emergency transfers are expensive because of the quick turnaround time. Exchange rates will be worse, and it’s often better to have your recipient wait a day or two if at all possible so you save money on fees and they receive more Liberian dollars.

    Picking up cash

    Take a few simple safety precautions to prevent yourself becoming a target for thieves.

    • Call ahead. Learn the company’s business hours and choose a safe time to pick up your cash. Daylight hours are best.
    • Bring a friend. Carrying money when alone can be dangerous. Ask a friend to come along.
    • Deposit your money immediately. The likelihood of losing your money to theft or simple carelessness grows the longer you have it with you. Go straight to a bank and deposit your cash as soon as possible.
    • Keep your cash hidden. Place your money in your purse or wallet before leaving the office. Carrying cash out in the open could make you a target.
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    Bottom line

    Overseas money transfers are easy no matter which method you choose, but knowing how to compare your options gives you a leg up in terms of cost, rates and transfer speeds.

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    US International Money Transfers Offers

    Important Information*
    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 FINDER to send your first transfer at no fee to 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 100+ currencies.

    TransferWise International Money Transfers

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

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