Tips for Sending Money to Rwanda

Information verified correct on January 23rd, 2017

shutterstock_RwandaHere’s how to send a quick, affordable and secure money transfer to Rwanda.

When you need to get money to a loved one overseas, the last thing you want to have to deal with is navigating a potentially complicated and expensive process. Sending money from the United States to Rwanda doesn’t have to be expensive. Compare the transfer fees and exchange rates of the many options available to you to get the most Rwandan francs for your dollar.

Rates last updated January 23rd, 2017

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Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
Payoneer International Money Transfers
Send Mass Payments To Your ... Send Mass Payments To Your Payees Worldwide
USD 20
OnlinePhone
Rates are always
changing, click to check
your price today
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WorldRemit International Money Transfers
An online money transfer service ... An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
Go to site More
World First Foreign Exchange
Exclusive offer: $0 transfer fee ... Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.
USD 500 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
Transferwise International Money Transfers
Make online transfers in a ... Make online transfers in a range of currencies and enjoy high maximum transfer amounts.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
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HiFX International Money Transfers
Transfer money between 20 currencies ... Transfer money between 20 currencies and enjoy scheduled regular transfers. No fee for transfers over US $5,000.
USD 100 2 days
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
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Currencies Direct International Money Transfers
$0 online transfer fee that ... $0 online transfer fee that you can access 24/7.
USD 100 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
OFX International Money Transfers
Exclusive offer: Special exchange rates ... Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com exclusive exchange rates and $0 transfer fee on all transfers.
USD 150 1 day
OnlinePhoneAgentInternational Money Order...
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changing, click to check
your price today
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TorFX International Money Transfers
TorFX guarantee to beat any ... TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply
USD 150 1 day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
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How do international money transfers work?

An international money transfer allows you to send money to a recipient overseas. Generally, a transfer involves you providing funds to a bank or an independent transfer provider, which then sends the money to your recipient in another country — in this case, Rwanda. This can be done in person or oftentimes online. You can use cash or transfer funds from your bank account, which will then either be deposited into your recipient’s bank account are made available as cash for them to pick up at a location in their country.

Money transfer company comparisons for sending money to Rwanda

Celia and her family immigrated to the U.S. from Rwanda in the early 1990s. She was a young girl at the time and finished her education in America, but has now been working for a couple of years. Now that she is earning money, she would like to send $1,000 back home to the remaining family members there. She has drawn up the table below to compare her options.

Money transfer company AMoney transfer company B
Exchange rate$1 USD = $549.672 RWF$1 USD = $520.324358 RWF
Transfer fee$10 if transfer is under $10,000$25
Amount of RWF received in Rwanda for $1,000 USD$549,671.54 RWF$520,324.36 RWF
Transfer time2 to 4 days10 minutes
Transfer optionsPhone, online account, mobile appPhone, online, agent location
Difference in RWF+ 29,347.18 RWF- 29,347.18 RWF

How to compare transfer companies when sending money to Rwanda

When comparing your options, pay attention to these factors:

  • Exchange rates. How do each company’s exchange rates compare to the competition?
  • Fees. How much will you have to pay to send the transfer? Can you avoid a transfer fee if you send a larger amount?
  • Transfer methods. Can transfers be placed online, over the phone, by visiting a branch and/or by using a mobile app?
  • Transfer options. Can you lock in an ideal exchange rate now and transfer the money later, known as a forward contract? Does the institution offer limit orders, which allows you to take advantage of changing market conditions by executing the money transfer when a certain exchange rate is met? Can you schedule recurring payments, or does the company only provide one-off spot orders?
  • Turnaround time. Will the funds be available for your beneficiary in minutes, or will they take several working days to arrive?
  • Minimum transfer amount. What is the minimum transfer limit imposed by each company, and will this affect the size of your transfers?
  • Pickup methods. Can your beneficiary pick up the cash from their nearest transfer agent, or will the funds be deposited into their bank account?
  • Customer service. What sort of customer support is offered and during what hours can you receive assistance?.

What are my options for sending money to Rwanda

  • Money transfer services. The following companies can be used for an international money transfer: MoneyGram, Western Union, World First Foreign Exchange and Xpress Money. Visit a Moneygram and Western Union agent location to see if they have agent locations that send as well as receive funds.
  • Banks. Citibank supports the RWF currency but does not have any listed branches in Rwanda itself. Visit a Citibank branch to find out how you can send or receive money to and from a bank account in the RWF currency.
  • Paypal. Visit local banks in Rwanda to confirm which ones support uploading or withdrawing of funds to and from PayPal.
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How to send money to Rwanda through an independent transfer provider

When sending funds to Rwanda, you’ll be asked to provide the following information:

  • Your name, address, contact information and valid photo ID.
  • Your beneficiary’s name, address and information, along with their bank account info if the funds will be deposited in their bank account.
  • How much money you’re sending, in what currency and which country you’re sending it to.
  • If you are not using cash for this transaction, you will need to provide your banking info in order to have funds drafted from your account.

Once you have completed your transaction, you will be given a tracking number. Make a note of this number so you can monitor the progress of your money transfer.

Emergency cash transfers are possible within minutes to Rwanda

In the case of an emergency, you can send money to Rwanda through companies like Moneygram, Western Union and Xpress Money. Some of the agent locations are listed below.

Tips for picking up cash in Rwanda

When picking up cash in a foreign country, always have government-issued photo ID. Have the tracking or reference number handy.

Travel in groups and avoid traveling at night. Like its neighboring country Burundi, Rwanda is prone to severe civil unrest. Crime and violence are currently at high rates, and public demonstrations should be avoided at all costs.

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US International Money Transfers Offers

Learn about our information service
WorldRemit International Money Transfers

An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.

OFX International Money Transfers

Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com exclusive exchange rates and $0 transfer fee on all transfers.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.

Transferwise International Money Transfers

Make online transfers in a range of currencies and enjoy high maximum transfer amounts.

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