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Send money to Togo
If you need to send money to Togo, our guide will help you learn how.
Whether you have a friend or family member who needs a little help or are sending money to a visitor, transferring money from the US to Togo can be a simple process. You can use a money transfer service or go through a bank, but be sure to shop around before you decide so you can get the best exchange rates.
Send money to Togo 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.
Compare money transfer services to Togo
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Best ways to send money to Togo
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Togo. Some offer cash pickup in as little as a few minutes, while others transfer to bank accounts.
1. Digital money transfer servicesCompanies like Ria and XE specialize in foreign currencies, making them some of the most cost-effective ways to send money to Togo. Most offer transfers directly to your recipient's bank account in Togo, 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 transfersServices like MoneyGram and Remitly allow you to transfer cash for pickup at a local branch in Togo— 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. BanksThe West African CFA 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 Togo.
- 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 TogoLet's say you need to send $1,000 to family in Togo. Here's what you might face as far as fees and exchange rates using today's rate of 1 USD = 545.270 XOF.
|Digital money transfer service||Cash transfer||Bank transfer|
|Fee||$0||$4||$25 + additional correspondent bank fees|
|Exchange rate||1 USD = 543.634 XOF||1 USD = 542.544 XOF||1 USD = 518.007 XOF|
|Transfer speed||1-2 days||Minutes||2-5 days|
The bank option ends up being the slowest and gets the smallest amount of money to your recipient in Togo. A digital transfer sends the most, which is XOF$38,578 more than the bank. For speed, a cash transfer can typically have your transfer to Togo in as little as 15 minutes. Make sure there's a cash pickup location near your recipient before sending.
How to send money to Togo online
Sign up and send money to Togo with a digital money transfer specialist in four steps:
- 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.
- 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 Togo.
- Confirm transfer details. Double-check your payment method, expected fees and destination.
- Save your receipt. Record your receipt's confirmation number to track the progress of your transfer to Togo. Some money transfer providers send a text or email when your transfer is complete.
Get the most out of your money transfer to Togo
Weigh costs and fees against convenience to best compare money transfer providers that send to Togo. Consider:
- Exchange rates. The USD–XOF relationship fluctuates, so using a service that allows you to lock in exchange prices may help you save money down the line if the West African CFA 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–XOF 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 West African CFA francs you're sending to Togo.
- 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 Togo.
- 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 Togo or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.
How to send money to Togo without a bank accountIf 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 West African CFA francs without a bank account.
Emergency cash transferWhen urgency trumps cost to get your money to Togo 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.
Togo's exchange rates explained
Banks and money transfer companies use exchange rate to calculate how much Togo's currency is worth when converted to USD. The USD-XOF relationship can change daily based on global economic stability, interest rates, inflation and more.Today's exchange rate USD to XOF
What to watch out for
Sending money to relatives or family members in Togo may be subject to taxes on the money transfer and certain documents may be required.
Taxes on transfers to Togo
In general, any large transfers being sent from the US to Togo should be filed with the IRS to avoid any penalties.
Receiving money in Togo:
- 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 Togo 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 Togo.
Sending your hard-earned money to Togo 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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