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 Mozambique

Need to send money to Mozambique? Here are your best choices for money transfer services.

Finding a bank that can convert your dollars to Mozambican metical can be difficult, but it’s not your only option. There are many ways, including dedicated money transfer companies, you can use to wire money to your recipient in Mozambique. Before you get started, compare the transfer fees and exchange rates of the many options available to you so you can get the best deal.

Send money to Mozambique with WorldRemit

WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.

  • No minimum transfers.
  • Wide range of destinations.
  • Competitive exchange rate.
Promoted

Compare money transfer services to Mozambique

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
XE
Within minutes
$3

View details
XE has fast transfers with low fees and a range of foreign currency tools.
WorldRemit
Within an hour
From $1.99

View details
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
loading

Compare up to 4 providers

Best ways to send money to Mozambique

Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Mozambique. Some offer cash pickup in as little as a few minutes, while others transfer to bank accounts.

1. Digital money transfer services

Companies like XE and Ria specialize in foreign currencies, making them some of the most cost-effective ways to send money to Mozambique. Most offer transfers directly to your recipient's bank account in Mozambique, 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 transfers

Services like WorldRemit and MoneyGram allow you to transfer cash for pickup at a local branch in Mozambique— 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. Banks

The Mozambican metical 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 Mozambique.
  • 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 Mozambique

Let's say you need to send $1,000 to family in Mozambique. Here's what you might face as far as fees and exchange rates as of March 16, 2021.
Digital money transfer service Cash transfer Bank transfer
Fee $0 $4 $25 + additional correspondent bank fees
Exchange rate 1 USD = 72.862 MZN 1 USD = 73.083 MZN 1 USD = 69.423 MZN
Transfer speed 1-2 days Minutes 2-5 days
Amount received MZN$72,862 MZN$72,791 MZN$67,687
Verdict
  • Best value
  • Fastest
  • Slowest and most expensive

The bank option ends up being the slowest and gets the smallest amount of money to your recipient in Mozambique. A digital transfer sends the most, which is MZN$5,175 more than the bank. For speed, a cash transfer can typically have your transfer to Mozambique in as little as 15 minutes. Make sure there's a cash pickup location near your recipient before sending.

How to send money to Mozambique online

Sign up and send money to Mozambique with a digital money transfer specialist in four steps:

  1. 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.
  2. 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 Mozambique.
  3. Confirm transfer details. Double-check your payment method, expected fees and destination.
  4. Save your receipt. Record your receipt's confirmation number to track the progress of your transfer to Mozambique. Some money transfer providers send a text or email when your transfer is complete.

Get the most out of your money transfer to Mozambique

Weigh costs and fees against convenience to best compare money transfer providers that send to Mozambique. Consider:

  • Exchange rates. The USD–MZN relationship fluctuates, so using a service that allows you to lock in exchange prices may help you save money down the line if the Mozambican metical rises against the US dollar.
  • Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger USD–MZN exchange rate.
  • 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 Mozambican meticals you're sending to Mozambique.
  • 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 Mozambique.
  • 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 Mozambique or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.

How to send money to Mozambique without a bank account

If 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 Mozambican meticals without a bank account.

Emergency cash transfer

When urgency trumps cost to get your money to Mozambique 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.

Mozambique's exchange rates explained

Banks and money transfer companies use exchange rate to calculate how much Mozambique's currency is worth when converted to USD. The USD-MZN relationship can change daily based on global economic stability, interest rates, inflation and more.

Today's exchange rate USD to MZN

1
0
Updated: 13 May 2021 18:23:18 UTC

What to watch out for

Sending money to relatives or family members in Mozambique may be subject to taxes on the money transfer and certain documents may be required.

Taxes on transfers to Mozambique

In general, any large transfers being sent from the US to Mozambique should be filed with the IRS to avoid any penalties.

Required information

Receiving money in Mozambique:

  • Transfer confirmation details like a transfer number, an MTCN, a reference number or a tracking number, depending on the company.
  • Government-issued ID like a passport or similar official ID may be required to pick up your transfer.
  • Sender's information. Take along your sender's full name, the sending country and their address, if known.

Sending to Mozambique from the US:

  • Proof of identification like a government-issued ID or your SSN number.
  • Recipient information like their name, address and bank account information in Mozambique.

Bottom line

Sending your hard-earned money to Mozambique 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.

More guides on Finder

Ask an Expert

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

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site