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While the Namibian dollar is the official currency, South African rands are widely accepted, and US dollars are also accepted in some places. Check with your recipient to find out which currency they need before starting a transfer.
An exchange rate is the value of one currency compared to another currency. These change constantly, so it’s worth checking them again every time you make a transfer.
Different companies will charge different exchange rates. A slight difference in the exchange rate can make a big difference in cost, especially on large transfers.
Let’s take a look at two different transfer companies. The first operates fully online and will deposit the money into your recipient’s bank account. The second option requires you to bring cash to an agent location in the US and have your recipient pick it up in Namibia.
Money transfer service 1 | Money transfer service 2 | |
---|---|---|
Exchange rate | 1 USD =14.5426 NAD | 1 USD =14.6610 NAD |
Fee | $2.99 | $7 |
Transfer speed | 1–3 days | Within minutes |
Total USD received | NAD$14,499.12 | NAD$14,558.37 |
Receiver gets | NAD$59.25 less | NAD$59.25 more |
In this case, it’s actually slightly cheaper to send cash, even though it has a higher fee. Your recipient ends up with about NAD$59.25 more, or about US$4. The price difference isn’t much, though, so if there wasn’t an agent location near you or your recipient it could be worth it to send a direct deposit.
It depends on your transfer method, the service used, how you’re paying for the transfer and how your recipient is collecting it.
As a rule of thumb, transfer stages involving bank transfers will typically be the slowest, while mobile money, cash payments and pickups are typically the fastest.
If you need to send cash to Namibia fast, there are a range of services able to facilitate an emergency cash transfer.
It can be available for pickup in just minutes. However, you’ll want to check that the pickup location is close enough for your recipient to easily get to it.
Which services send emergency transfers?
If you don’t have a bank account but still need to send money to Namibia, you can look for a cash transfer service in your location. These are widely available all over the world.
This can also suit recipients who don’t have a bank account, because they don’t need one to receive a cash transfer.
Faster transfers are often not the most cost-effective, and you may be able to find lower fees and better rates with a slightly slower transfer. By finding a slower transfer and planning appropriately, such as by making your deposit early in the day so it’s processed on the same day and sending the money on Monday so it doesn’t get stuck over the weekend, you may be able to get an affordable transfer in just a few days.
Pickpocketing and purse snatching happen everywhere, including in Namibia, so it’s a good idea to be cautious when picking up cash.
If you need to send money to Namibia, you have options. Start by finding out if your recipient needs a specific currency, and compare current rates for currencies accepted in Namibia if they don’t. And to get the best deal, you’ll also want to compare money transfer companies before getting started.
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