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There are a number of options when it comes to sending your money to Cameroon, but not all of them will give your recipient as many francs on the other end.
Compare your options before making a transfer to see how much money you might be able to save.
Your options for sending money to Cameroon from Australia
The table below lets you easily compare different options. Choose how much you want to send to Cameroon, and it will automatically calculate how much it may cost with different transfer services.
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Step-by-step: How to send money to Cameroon
- Compare your options for sending dollars to XAF and choose the one that's best for you.
- Go to the service's website and create an account.
- Enter the details of your transfer and make your payment.
What's the best way to send money to Cameroon?
You can look at different services depending on whether you want it fast, cheap or convenient.
Banks
You may be able to go to your bank to send money to Cameroon. It's convenient, but it will also be slow and expensive and you may not be able to get the desired currency.
Cash transfers
Some services let you send money to Cameroon for a cash pick-up. It's fast but expensive.
Money transfer services
An online money transfer with a specialist service is usually the best value for money, but it can be a bit slower.
Let's crunch the numbers: Sending $1,000 to Cameroon
Here's how much it would cost to send $1,000 to Cameroon with a cash transfer and with a money transfer service, so you can see how much a difference it makes.
Rates and fees are current as of 27 March 2019.
| Cash transfer | Money transfer service | |
|---|---|---|
| Fee | $9 | $3.99 |
| Exchange rate | 1 AUD = 393.787 XAF | 1 AUD = 401.495 XAF |
| Transfer speed | In minutes | 2-3 days |
| Amount received | XAF390,243 | XAF399,893 |
| Receiver gets | XAF9,650 less | XAF9,650 more |
Using a cash transfer service is faster, but also more expensive. By using an online money transfer service instead, your recipient would get XAF9,650 more on a transfer of $1,000.
What's the fastest way to send money to Cameroon?
If you want to send money to Cameroon as fast as possible, cash transfer services can get it there within minutes.
If you're in a hurry, but also want to save money, you can look for a high-speed online transfer option.
Emergency cash transfer
Emergency cash transfers are offered by services including Western Union and MoneyGram and can get your money to Cameroon in just a few minutes, although these are usually more expensive than bank transfers.
The recipient will have to pick it up from a specified location though, and it will usually have to be within business hours for the agent at the destination.
How to send money to Cameroon without a bank account
Neither you nor the recipient needs a bank account for you to send money to Cameroon.
You can pay with cash at MoneyGram or Western Union agents in Australia if you don't have a bank account.
If your recipient doesn't have a bank account, you can request a cash pick-up or choose other options such as a mobile airtime top-up, where you can remotely top up airtime on MTN and Orange phones.
What to watch out for
With the aim of making foreign investment easier, Cameroon enjoys a highly developed banking sector on top of its mobile money network and numerous cash pick-up agents.
Keep in mind that Cameroon's currency is pegged to the euro at a rate of 1 EUR = 655.957 XAF. This means that factors that affect the euro affect the Central African CFA franc (XAF) as well.
Documentation you'll need to send money to Cameroon
You will need to provide documentation to send money to Cameroon. This may include the following:
- Identification. You will need to have documents such as a driver's licence to show who you are.
- Transfer amount. You need to say how much you want to transfer and in which currencies.
- Recipient's details. You will also need to provide the recipient's details, such as their name.
- Reason for sending the money. In some situations, you will be required to say why you're sending the money.
What to compare to get the best deal
If you're having trouble deciding which money transfer service to use, here are some aspects to consider:
- Fees. How much does the service cost in upfront fees?
- Exchange rates. What kind of exchange rates are you getting? Better rates can save a lot of money.
- Transfer speed. How long will the transfer take to arrive? If you're in a hurry, you may want to look for a faster option.
- Payment options. Consider the different options for making your payment, such as by bank transfer or in cash, and make sure it works for you.
- Delivery methods. Does the recipient want a cash pick-up? A bank transfer? Mobile airtime top-up?
- Customer service. Where do you turn if something goes wrong, and are they able to help?
Foreign exchange rates explained
The foreign exchange rate is how much one currency is officially worth in another currency.By knowing the mid-market foreign exchange rate for your destination country's currency, you get a benchmark to consider when comparing quotes from different money transfer services.
Here are the current mid-market rates for Cameroon. See how close you can get with a money transfer service to find the best rates.
Cash pick-up locations in Cameroon
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