How to Send Money to Togo Cheaply

Information verified correct on January 23rd, 2017

togo

Want to send a fast, affordable and secure international money transfer to Togo? Here’s how to do it.

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 Togo doesn’t have to be expensive. Compare the transfer fees and exchange rates of the many options available to you to get the most West African CFA francs for your dollar.

From bank transfers and online transactions to options that allow recipients to collect your funds within minutes, sending an international money transfer to Togo is easy. However, do your research and shop around for the best available deal..

Banks versus money transfer companies

We use our banks to take care of all our other financial needs, so surely we should use them when we need to send an international money transfer, right? Not necessarily. While major U.S. banks offer money transfer services, they usually present less competitive exchange rates coupled with high transfer fees.

You can often save money by using the services of a dedicated money transfer company. These providers specialize in handling overseas money transfers, offering attractive exchange rates and affordable transfer fees.

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
Go to site More
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
Go to site More
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
Go to site More
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...
Rates are always
changing, click to check
your price today
Go to site More
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
Go to site More
Case Study: Nick Sends Money to Togo

Nick has relocated to the United States with his wife and kids to work, but when his parents back home in Lomé get into financial trouble he is only too happy to help. He promises to send them $1,000 to help pay off their debts but, rather than taking the disappointing exchange rate offered by his bank, he shops around and finds two money transfer companies willing to offer a much more affordable transaction.

Money transfer company 1Money transfer company 2
Exchange rate$1 USD = $585.060 XOF$1 USD = $570.195 XOF
Transfer fee$0$16
Transfer methodCash pickup or bank account depositCash pickup
Processing time1 hour for cash pickup, 3-4 business days for bank deposit10 minutes
Amount received (in XOF)$585,060 XOF$570,195 XOF

As you can see, Nick can send almost $15,000 XOF extra (and avoid paying a transfer fee) if he uses the first company.

How to compare transfer companies when transferring money to Togo

  • Exchange rates. How high (or low) is the company’s exchange rate when compared to the competition?
  • Fees. How much will you have to pay per transfer, and does this amount differ based on the amount you send or the transfer method you select?
  • Transfer methods. What do you need to do to place a transfer? Can you visit a website, make a phone call, visit a branch or use a smartphone 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?
  • Turnaround time. How long will the transfer take from the moment you hand over the cash to the moment your recipient can access the funds?
  • Minimum limit. If a minimum transfer limit applies, how high is it? Is there a maximum transfer limit?
  • Pickup methods. Can your beneficiary collect the cash from a transfer agent, or will they need to wait for it to be deposited into their bank account?
  • Customer service. Can you rely on phone, email and online customer support if you ever need help?
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Foreign exchange rates explained
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it will yield more money when exchanging it in a country with a weak currency. For example, in December 2016, the U.S dollar was worth approximately 19 Mexican pesos. However, most countries’ exchange rates are flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.[/fin_did_you_know

Options for sending money to Togo from America

  • Bank transfers. Transfer the funds from your American bank account to a bank account in Togo.
  • Online money transfer providers. Companies like TransferMate can help you send secure and affordable transfers.
  • Money transfer companies with cash pickup options. Western Union and MoneyGram offer fast and secure transfers, with the cash available for pickup from agent locations throughout Togo.
  • Checks. Ask your bank about how to send a check overseas.
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Emergency cash transfers in Togo

You’ve just had an urgent phone call from your family in Togo — they need money as soon as possible to settle a debt. Happily, sending an instant transfer is quite easy, but you will have to pay more for the privilege. Higher fees and poor exchange rates apply to emergency transfers, so make sure you closely check all the details of any transaction before you commit to it. This will prevent any nasty surprises when you realize you’ve paid much more than you wanted to.

Back to topFind a money transfer location near you

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Tips for picking up cash in Togo

  • Avoid cash pickup locations in unsafe areas.
  • Ask a friend to join you when you go to pick up the cash.
  • Don’t display your cash in public.
  • Don’t carry a large amount of cash around in your wallet – deposit it with your bank or in a hotel safe.
  • Stay aware of your personal security at all times.
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How to send money to Togo

The first step when sending a transfer is to provide a bit of information about yourself – name, contact information, address, etc. A valid form of photo ID, such as a driver’s license or a passport, will also be required.

Once that’s done you can provide details about your recipient (name, contact details) and your transaction, including the amount and currency you are transferring and where you wish to send it.

You can then pay for your transaction by cash, bank deposit, credit card or debit card, depending on the company you choose. Keep track of any reference number you are given so that you can check on the progress of your funds.

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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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