How to send money to Benin
Sending money to Benin? Compare your options first to save money when you do.
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Benin isn't a large country, but there are still plenty of ways for your money transfer to find its destination.
Compare options when sending money to Benin to see if you can cut costs when you do.
How much does it cost to send money to Benin? Compare your options
The table below lets you sort through money transfer options and easily compare them. Just enter your transfer amount in the space provided, and it will calculate how much it may cost with different providers.
Learn more about
Step-by-step: How to send money to Benin
Here are the directions to send money to Benin:
- Choose your transfer service here and go to its website.
- Create or sign into an account with that service.
- Enter the details of your transfer, including the recipient and the amount.
- Confirm the details and make your payment.
What's the best way to send money to Benin?
The best way to send money to Benin depends on your situation. The main options include the following:
Money transfer services
There are a number of online money transfer services that combine options such as cash pick-up, bank account transfers and mobile money to deliver flexible and cost-effective transfers.
Cash transfer services and pick-up points are widely available in Benin.
You may be able to send money to Benin through your bank, although the costs can be high.
Let's crunch the numbers: Sending $500 to Benin
The table below shows how much it can cost to send money to Benin with different transfer services, so you can see how much of a difference there is when sending $500 to Benin, and how much you could save by comparing options.
|Cash transfer||Money transfer service|
|Exchange rate||1 AUD = 394.441 XOF||1 AUD = 399.199 XOF|
|Transfer speed||Instant||Next day|
|Overall||XOF4,284 less||XOF4,284 more|
By comparing transfer services, you can save money by choosing the cheaper one. In this case, your recipient can get another XOF4,284 (about $10) simply by comparing two options.
Not only does one have lower fees, but it also has better exchange rates, allowing you to save even more on larger transfers.
How long will it take to send money to Benin?
How long it takes to send money to Benin depends on which transfer method you use.
Cash pick-up and mobile money are usually instant, but anytime there's a bank transfer involved, it can take several days longer.
Emergency cash transfer
If you want to send money in a hurry, you can send money to be picked up at locations around Benin with services such as Western Union or MoneyGram.
How to send money to Benin without a bank account
It's often cheaper to have money sent to your recipient's bank account with a money transfer service, but if your recipient doesn't have one, you can still send a cash transfer or a mobile money delivery.
If you don't have a bank account, you can still pay with cash at a money transfer agent location or send money through your own mobile money app.
What to watch out for
The West African CFA franc (XOF) used in Benin is pegged to the euro at a fixed rate. As such, the exchange rates you get will vary depending on what the AUD/EUR is doing.
Documentation you'll need to send money to Benin
When sending money to Benin, you'll need to provide the following information:
- Personal details and identification. You will have to give your name, address and proof of identity.
- Transfer details and why you're sending the money. You will typically be required to enter the reason for transferring the money, among other details such as the amount and the currencies.
- Recipient's details. You will have to provide the recipient's details so the money can find its way to the right person. If you want it delivered to the recipient's bank account, you will also need to get their banking details.
What to compare to get the best deal
When sending money to Benin, look at the following factors to find the best option for your needs.
- Fees. How much are you being charged in flat fees?
- Exchange rates. How many CFA francs are you getting for your Australian dollars?
- Transfer speed. How long will the transfer take?
- Payment options. Can you pay by cash or card? Do you have to make a bank transfer?
- Delivery methods. How can the recipient get their money? Options include mobile money, cash pick-up and bank transfer.
- Customer service. Can the money transfer service help out in case something goes wrong?
Foreign exchange rates explained
The exchange rates are how much of one currency you get for another and different transfer services will charge very different amounts through varying exchange rates.
To find out how good your quoted exchange rates are, compare them to the AUD/XOF mid-market rates you can find online.
Cash pick-up locations in Benin
More guides on Finder
4 ways to keep your hard-earned cash safe
SPONSORED: Don’t let yourself become a victim of fraud or theft. Here are 4 easy ways to keep your money safer.
International money transfer services
Beat the banks, find the best exchange rates and avoid fees when you send money abroad from Australia.
iRemit international money transfers review
Make simple and small transfers to the Philippines through the IREMITX app.
How do international money orders work?
Using international money orders to send money overseas? Learn about better options.
Money Transfer Finder®
Our picks for the best ways to send money internationally.
How do we pick the top money transfer services?
Our top picks are our selection of the best money transfer services, based on our extensive research and market experience. Here's how we choose them.
Coronavirus: What to do if you can’t afford your car repayments
Can't afford your car loan repayments because of the COVID-19 pandemic? Here's what to do.
Sending money internationally during the coronavirus pandemic
Learn about how COVID-19 may affect the ways you transfer cash around the world.
SingX promo codes and discounts
If you’re looking to save some cash the next time you send money overseas, check out our up-to-date SingX promo codes.
Review: CurrencyTransfer account for online sellers
Learn more about CurrencyTransfer, a foreign exchange marketplace that could help your e-commerce business save on overseas payments.
International Money Transfer OffersImportant Information*
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
Ask an Expert