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Completely surrounded by South Africa, the landlocked country of Lesotho covers just 11,500 square miles. Once the British protectorate of Basutoland, Lesotho gained independence in 1966. Since then, Lesotho has become a member of the Commonwealth of Nations and maintained healthy relations with the United Kingdom. The UK is one of Lesotho’s main defence suppliers, as well as receiving investment from the UK to combat HIV/AIDS and fund infrastructure projects.
Sending money from the UK to Lesotho doesn’t have to be expensive. From bank transfers and online transactions to options that allow recipients to collect your funds within minutes, you’ll want to compare the transfer fees and exchange rates of the many options available to you to get the best deal.
If you’re thinking about sending money to Lesotho through your local bank, think again. While it will easily send international wire transfers all around the world, you’ll pay a high transfer fee of up to £50 for the privilege. Banks also typically offer dismal exchange rates on international transfers.
Do your wallet a favor by considering the services of a specialist money transfer company. These companies don’t spread themselves across a wide range of products and services like the banks. Instead, they specialize in sending money internationally and can therefore offer far superior exchange rates. With their secure transfers also come lower transfer fees, allowing you and your recipient to enjoy a better financial deal.
Blessing is spending two years studying and working in Manchester. She wants to send part of the money she has saved back home to her parents in Lesotho. But when she sees that the weak exchange rate offered by her bank will eat a big chunk of her £500 transfer, she approaches two money transfer companies to see if they can offer a better deal.
|Money Transfer Company A||Money Transfer Company B|
|Exchange rate||£1 = 15.9244 LSL||£1 = 15.7489 LSL|
|Transfer speed||10 minutes||1 hour|
|Transfer option||Cash pickup||Cash pickup|
|Total LSL received||7,962.20 LSL||7,874.45 LSL|
Blessing discovers that she can send an extra 87.75 Lesotho loti and also save £8 in transfer fees by using Money Transfer Company A.
You might need to send an emergency cash transfer to Lesotho — for example, if a friend traveling through the country loses their wallet. When you need to transfer funds urgently, your fastest possible transfer will often be your most expensive option. Carefully review the exchange rate and transfer fee against your needs so that you understand exactly how much it will cost you.Back to topFind a money transfer location near youBack to top
Whether picking up funds in Lesotho or anywhere else around the world, take a few simple safety precautions to prevent yourself becoming a target for thieves.
In general, to initiate an international money transfer, you’ll need to provide:
Once you’ve supplied your relevant details, you can pay for your transfer and receive a transaction reference number, which you can use to check up on the progress of your funds.
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