Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
How to send money to the Ivory Coast
Take advantage of low fees and competitive exchange rates when sending money to the Ivory Coast.
If you’re sending money to Côte d’Ivoire, you’ll have several choices available to you.
Compare your options to find the one that’s best for you and see if you can save money on your next international transfer to the Ivory Coast.
How much does it cost to send money to the Ivory Coast? Compare your options
The table below shows how much a transfer may cost with different services. Enter the details of your transfer in the table below and it will run the numbers to bring back the costs.
Step-by-step: How to send money to the Ivory Coast
- Compare transfer services and choose the option that works best for you.
- Go to the service’s website and create an account.
- Provide the details of your transfer, including the amount and who you want to send to.
- Double check to ensure all the information is correct, then confirm the transaction and make your payment.
What’s the best way to send money to the Ivory Coast?
There are several different options for sending money to the Ivory Coast. The main ones include:
Let’s crunch the numbers: Sending R5,000 to the Ivory Coast
The table below shows how the costs and transfer speeds can vary between different options when transferring R5,000 to the Ivory Coast. Our example will be using a cash transfer service and a money transfer company.
In this case, the money transfer service is delivering funds to the recipient’s mobile money wallet.
|Cash transfer||Money transfer service|
|Exchange rate||1 ZAR = 32.07 XOF||1 ZAR = 29.68 XOF|
|Transfer speed||Within minutes||Within a day|
|Overall||XOF14,559.50 more||XOF14,559.50 less|
In this case, using the transfer service will net the recipient almost XOF14,559.50 more (over R400) while being only slightly slower.
How long will it take to send money to the Ivory Coast?
How long it takes to send funds to the Ivory Coast depends largely on whether there are any bank transfers involved in the process, as each of these might add one or two days. Sending money to mobile or a cash pick-up provider will be the fastest option.
Emergency cash transfer
If you want to send money to the Ivory Coast as fast as possible, you might want to use a cash transfer service. By paying with cash at an agent in your location and having the recipient pick it up as cash, it can arrive almost immediately.
How to send money to the Ivory Coast without a bank account
If you don’t have a bank account, you can still pay with cash at transfer service agent locations.
Your recipient can similarly pick up cash without a bank account. Your recipient may also be able to receive funds through their mobile money account, or as credit on their mobile, without having a bank account.
What to watch out for
According to the GSM Association’s 2018 mobile state of the industry report, the Ivory Coast is one of the mobile money hubs of the world. It’s estimated that around a third of the country’s residents have a mobile money account.
There is also a range of local initiatives to digitise payments, which has further increased uptake. According to the same report, more than 99% of students in the Ivory Coast now pay their school fees with mobile money payments, for example.
This infrastructure can help make it faster, easier and cheaper to send money to the Ivory Coast, which can make it worth shopping around for a better deal.
Documentation you’ll need to send money to the Ivory Coast
You’ll need to provide several pieces of information when sending money to the Ivory Coast. This includes:
- Identification. You will often need to provide some details of yourself and your contact information, as well as some identification such as a driver’s licence.
- Transfer amount. This is how much you want to send in ZAR or how much XOF you want your receiver to get.
- Recipient’s details. You’ll need the recipient’s details, as well as the correct information for them to receive their funds, which will vary depending on the transfer method.
- Reason for sending the money. You will often need to provide a reason for sending the money.
What to compare to get the best deal
There are several different elements to consider when comparing transfer services. Some of the main ones include:
- Fees and exchange rates. Pay attention to both the fees and exchange rate the service is quoting you. This can vary quite a lot from provider to provider.
- Transfer speed. How long will it take? Does your recipient need it immediately, which will be more expensive, or are they okay to wait a few days?
- Payment and delivery options. You may have several payment options, including cash, card or bank transfer. Your recipient may also have different ways of collecting the funds including bank deposit, cash pick-up or mobile money.
- Customer service. Make sure you know how to get in touch with the transfer service’s customer service team in case something goes wrong.
Foreign exchange rates explained
Foreign exchange rates are how much of one currency you get for another. In this case, it will be how many West African CFA francs (XOF) you get for your local money.
Different services will have different exchange rates and it can be worth looking for the one that offers the best rate. This will typically be whichever is closest to the mid-market rate.
Cash pick-up locations in the Ivory Coast
More guides on Finder
How to buy Robinhood stock from South Africa
Robinhood is expected to go public, here’s what you need to know if you’re looking to buy in from South Africa.
What are bonds and how do you buy them?
You could receive a higher return with a government bond compared to a savings account without significantly increasing your risk.
Review: Mama Money international money transfers
Your guide to international transfers with Mama Money, including exchange rates, fees and how to register an account.
Review: Shoprite international money transfers
If you want to send money overseas with Shoprite, check out our review of the transfer times, fees and exchange rates on offer.
Review: Hello Paisa international money transfers
Your detailed review of transfer times, exchange rates, fees and safety when you send money overseas with Hello Paisa.
Review: FNB international money transfers
Your detailed review of the transfer methods, exchange rates and fees available when you send money overseas with FNB.
Review: Bidvest Bank international money transfers
If you want to make an international payment with Bidvest Bank, check out our review of transaction costs, registration and safety first.
Review: Absa international money transfers
If you want to send money overseas with Absa, check out our guide to the transfer options, fees and exchange rates available.
Review: Standard Bank international money transfers
Your guide to fees, exchange rates and processing times when you send an international payment with Standard Bank.
Review: Nedbank international money transfers
A detailed review of the fees, exchange rates and processing times that apply when you send money overseas with Nedbank.
Ask an Expert