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Send money to Rwanda

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

Sending money to Rwanda doesn’t have to be complicated or expensive. By taking the time to compare different money transfer companies that work with an exotic currency like the Rwandan franc, you can save on fees and get money to your recipient quickly. Just keep an eye out for exchange rates — the amount your recipient receives depends on it.

Compare money transfer providers who service Rwanda

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.
Remitly
Within minutes
From $0
SPECIAL OFFER ✓ Free transfers and better exchange rates available for new customers

View details
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
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.
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Compare up to 4 providers

Best ways to send money to Rwanda

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

1. Digital money transfer services

Companies like Ria and XE specialize in foreign currencies, making them some of the most cost-effective ways to send money to Rwanda. Most offer transfers directly to your recipient's bank account in Rwanda, 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 Remitly allow you to transfer cash for pickup at a local branch in Rwanda— 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 Rwandan franc 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 Rwanda.
  • 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 Rwanda

Let's say you need to send $1,000 to family in Rwanda. Here's what you might face as far as fees and exchange rates using today's rate of 1 USD = 972.130 RWF.
Digital money transfer service Cash transfer Bank transfer
Fee $0 $0 $25 + additional correspondent bank fees
Exchange rate 1 USD = 969.214 RWF 1 USD = 967.269 RWF 1 USD = 923.524 RWF
Transfer speed 1-2 days Minutes 2-5 days
Amount received RWF$969,214 RWF$967,269 RWF$900,435
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 Rwanda. A digital transfer sends the most, which is RWF$68,778 more than the bank. For speed, a cash transfer can typically have your transfer to Rwanda in as little as 15 minutes. Make sure there's a cash pickup location near your recipient before sending.

How to send money to Rwanda online

Sign up and send money to Rwanda 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 Rwanda.
  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 Rwanda. Some money transfer providers send a text or email when your transfer is complete.

Get the most out of your money transfer to Rwanda

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

  • Exchange rates. The USD–RWF relationship fluctuates, so using a service that allows you to lock in exchange prices may help you save money down the line if the Rwandan franc 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–RWF 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 Rwandan francs you're sending to Rwanda.
  • 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 Rwanda.
  • 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 Rwanda or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.

How to send money to Rwanda 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 Rwandan francs without a bank account.

Emergency cash transfer

When urgency trumps cost to get your money to Rwanda 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.

Rwanda's exchange rates explained

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

Today's exchange rate USD to RWF

1
0
Updated: 13 May 2021 12:59:15 UTC

What to watch out for

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

Taxes on transfers to Rwanda

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

Required information

Receiving money in Rwanda:

  • 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 Rwanda 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 Rwanda.

Bottom line

Sending your hard-earned money to Rwanda 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.

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4 Responses

    Default Gravatar
    EddyMarch 20, 2019

    Is it possible to transfer money from India to Rwanda ??
    If yes is there any documents required ??

      Avatarfinder Customer Care
      johnbasanesMarch 21, 2019Staff

      Hi Eddy,

      Thank you for reaching out to Finder.

      An international money transfer allows you to send money to someone in Rwanda by exchanging your US dollars for Rwanda francs. You can choose to work with a bank, independent money transfer company or other provider, which will convert your money and deposit it in your recipient’s bank account or make the cash available for pickup. There is no document required in sending unless it is a large sum of money. The money transfer company or bank will inform you beforehand of the documents you would need to complete in case this happens.

      Cheers,
      Reggie

    Default Gravatar
    YunkungApril 19, 2017

    Can you transfer money from Cameroon to Rwanda using mtn mobile money?

      Avatarfinder Customer Care
      HaroldJuly 6, 2017Staff

      Hi Yunkung,

      Thank you for your inquiry.

      Yes there are lenders that offers money transfer services from Cameroon to Rwanda. Next, you can go to the section “Compare money transfer providers who service Rwanda” to compare the different offers. You can select your preferred money transfer company based on your personal requirements.

      I hope this information has helped.

      Cheers,
      Harold

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