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How to send money to Oman
Here’s how to send a quick, affordable and secure money transfer to Oman.
When you’re looking to send money to someone in Oman, you have more options than you might think to convert your South African rands to Omani rials. From banks to dedicated money transfer companies, you can get the most per rand by comparing rates and knowing the fees you may be charged.
Compare money transfer services to Oman
What’s the best way to send money to Oman?
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Oman. Some offer cash pickup in as little as a few minutes, while others seamlessly transfer to bank accounts.
Can I send money to Oman through PayPal?
Yes, PayPal supports accounts in Oman for buying, selling and sending money. Beware of higher transfer fees and poor exchange rates if using PayPal to send money to Oman from South Africa. Read our PayPal review to learn how to get started.
Digital money transfer services
Companies like Currencies Direct and Wise specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s Oman bank account, often in as little as a day or two.
Services like WorldRemit allow you to transfer cash for pickup at a local branch in Oman — 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. Western Union also operates in Oman, but always double-check Western Union’s prices when sending to Oman to make sure you aren’t paying too much in fees.
Oman rials are not a popular currency, so your local bank may not be able to exchange them. If your bank supports Oman rials, beware of high fees and wide margins on the exchange rate compared to digital and other options when sending a wire transfer to Oman.
Let’s crunch the numbers: Sending R10,000 to Oman
Let’s say you need to send R10,000 to family in Oman. Here’s what you might face as far as fees and exchange rates as of OCt 17, 2020.
|Digital money transfer service||Cash transfer||Bank transfer|
|Fee||R0||R60||R250 + additional correspondent bank fees|
|Exchange rate||1 ZAR = 0.021 OMR||1 ZAR = 0.021 OMR||1 ZAR = 0.019 OMR|
|Transfer speed||1-2 day||Minutes||2-5 days|
|Amount received||OMR 210||OMR 208.74||OMR 185.25|
The bank option ends up being both the slowest and gets the smallest amount of money to your recipient in Oman. If you go with the digital money transfer service or cash transfer service, your recipient ends up with OMR 24 more than the bank offers.
How to send money to Oman online
Sign up and send money with a digital money transfer specialist in four steps:
- Sign up for a free account. Pick a provider and sign 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 Oman bank account details.
- 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 Oman. Some money transfer providers send a text or email when your transfer is complete.
How to get the most out of your money transfer to Oman
Weigh costs and fees against convenience to learn how to compare money transfer providers that send to Oman to best meet your needs:
- Exchange rates. The ZAR-OMR relationship doesn’t fluctuate often, but using a service that allows you to lock-in exchange prices may help you save money down the line if the Oman rial rises against the South African rand.
- 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 ZAR-OMR 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 pesos you’re sending to Oman.
- 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 Oman.
- 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 an Oman bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.
Emergency cash transfer
When urgency trumps cost to get your money to Oman 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.
How to send money to Oman without a bank account
Cash transfer services can help you if 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 cash without a bank account.
Oman’s exchange rates explained
The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. Oman’s exchange rate is fairly fixed compared to the South African rand. Because of this, the ZAR-OMR relationship typically remains relatively stable. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Documents needed for sending to and receiving money in Oman
To send money to Oman from South African, you’ll need government-issued ID and other documents, while documents needed to pick up money in Oman may be different by company.
Documents to send money from South Africa
To send money from SA to Oman, you’ll need documentation and details that include:
- Identification. Most services require a driver’s license, passport or other government-issued ID.
- Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal checks.
- Recipient information. Submit your recipient’s name as it appears on their ID, along with their phone number and Oman bank account information.
Documents to receive money in Oman
To pick up money in person, documentation can include:
- Transfer number. The person sending you money can forward the transfer’s confirmation details — called a PIN, a MTCN, a reference number or a tracking number, depending on the company.
- Government-issued ID. A Oman Passport, Oman ID or similar official ID may be required to pick up your transfer..
- Amount sent. You may need to know how much was sent, usually within 10% of the total.
- Sender’s information. Take along your sender’s full name, the sending country and their address, if known.
What to watch out for
Sending money to relatives or family members in Oman may be subject to taxes on the money transfer, the money may be subject to taxes but it depends on a lot of variables. Keep in mind that exchange control regulations state that individuals are only allowed to send up to R1 million per year out of South Africa, and up to R10 million a year in investments.
Sending your hard-earned money to Oman 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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