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Send money to Zambia
Do you need to send funds to Zambia from the US? These tips will help you save money.
Although it might seem like a complicated process, sending money from the US to Zambia doesn’t have to be difficult or expensive. If a friend or family member needs money quickly, you can use a money transfer service to convert your US dollars into Zambian kwachas. You’ll likely get a better interest rate and less fees, saving you money and getting more funds to your recipient in Zambia.
Send money to Zambia 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 Zambia
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 Zambia
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Zambia. Some offer cash pickup in as little as a few minutes, while others transfer to bank accounts.
1. Digital money transfer servicesCompanies like Wise and Ria specialize in foreign currencies, making them some of the most cost-effective ways to send money to Zambia. Most offer transfers directly to your recipient's bank account in Zambia, 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 WorldRemit and Remitly allow you to transfer cash for pickup at a local branch in Zambia— 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 Zambian kwacha 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 Zambia.
- 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 ZambiaLet's say you need to send $1,000 to family in Zambia. Here's what you might face as far as fees and exchange rates as of March 16, 2021.
|Digital money transfer service||Cash transfer||Bank transfer|
|Fee||$0||$4||$25 + additional correspondent bank fees|
|Exchange rate||1 USD = 22.038 ZMW||1 USD = 21.928 ZMW||1 USD = 20.937 ZMW|
|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 Zambia. A digital transfer sends the most, which is ZMW$1,625 more than the bank. For speed, a cash transfer can typically have your transfer to Zambia in as little as 15 minutes. Make sure there's a cash pickup location near your recipient before sending.
How to send money to Zambia online
Sign up and send money to Zambia 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 Zambia.
- 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 Zambia. Some money transfer providers send a text or email when your transfer is complete.
Get the most out of your money transfer to Zambia
Weigh costs and fees against convenience to best compare money transfer providers that send to Zambia. Consider:
- Exchange rates. The USD–ZMW relationship fluctuates, so using a service that allows you to lock in exchange prices may help you save money down the line if the Zambian kwacha 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–ZMW 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 Zambian kwachas you're sending to Zambia.
- 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 Zambia.
- 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 Zambia or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.
How to send money to Zambia 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 Zambian kwachas without a bank account.
Emergency cash transferWhen urgency trumps cost to get your money to Zambia 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.
Zambia's exchange rates explained
Banks and money transfer companies use exchange rate to calculate how much Zambia's currency is worth when converted to USD. The USD-ZMW relationship can change daily based on global economic stability, interest rates, inflation and more.Today's exchange rate USD to ZMW
What to watch out for
Sending money to relatives or family members in Zambia may be subject to taxes on the money transfer and certain documents may be required.
Taxes on transfers to Zambia
In general, any large transfers being sent from the US to Zambia should be filed with the IRS to avoid any penalties.
Receiving money in Zambia:
- 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 Zambia 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 Zambia.
Sending your hard-earned money to Zambia 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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