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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.
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.
Here are the directions to send money to Benin:
The best way to send money to Benin depends on your situation. The main options include the following:
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.
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 | |
---|---|---|
Fee | $20 | $14.99 |
Exchange rate | 1 AUD = 394.441 XOF | 1 AUD = 399.199 XOF |
Transfer speed | Instant | Next day |
Amount received | XOF189,332 | XOF193,616 |
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 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.
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.
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.
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.
When sending money to Benin, you'll need to provide the following information:
When sending money to Benin, look at the following factors to find the best option for your needs.
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.
Today's exchange rate AUD to XOF
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