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Cabo Verde gets a lot of visitors, but if you're just sending money to the islands instead of going in person, it's still worth comparing options to make sure you're getting the best deal.
This guide explains what to look for when sending money to Cape Verde and how to compare your options.
The table below shows how much it may cost to send money to Cape Verde with different services. Simply enter your transfer details in the table, and it will crunch the numbers.
The best option depends on what you're looking for in a transfer. The main options include the following:
A range of services can deliver money to Cape Verde in different ways, including to bank accounts, for cash pick-up and as mobile airtime.
You can send money for pick-up at a cash transfer agent in Cape Verde. This will often be one of the fastest ways of sending money.
You can send money transfers to Cape Verde directly through a bank, although some banks may not be able to help, and it can be more expensive than other options.
The table below shows how much it costs to send $1,000 to Cape Verde with two different money transfer services, so you can see how exchange rates and fees come together to make up the total cost.
Transfer service 1 | Transfer service 2 | |
---|---|---|
Fee | $25 | $9 |
Exchange rate | 1 AUD = 66.3415 CVE | 1 AUD = 66.7114 CVE |
Transfer speed | Within minutes | Within minutes |
Total escudos received | CVE64,683 | CVE66,111 |
Receiver gets | CVE1,428 less | CVE1,428 more |
Both transfers are almost identical, except one will cost almost CVE1,500 (roughly $20) less overall.
Today's exchange rate AUD to USD
How long it takes to send money to Cape Verde depends on your transfer method. Generally, it will be slowest whenever you have to make a bank deposit or withdrawal on either end of the transfer.
As such, the fastest options will usually be cash transfers and mobile money payments, which can be available in just minutes.
Services such as MoneyGram can let you send money for a cash pick-up. But if you want it to be available immediately, you'll have to be mindful of agent opening hours and how long it will take the recipient to get to the pick-up point.
For instant 24-hour delivery, you can use other options, such as sending mobile airtime to the recipient in Cape Verde.
If you don't have a bank account, you can still send money to Cape Verde by using a service which lets you pay in cash through local branches, such as Western Union.
And if you have a suitable mobile money account, you can send money directly to the recipient's mobile money account.
Mobile money, either through your own account or through a third party such as WorldRemit, can be one of the most practical ways of sending money to Cape Verde, but it may not be suitable for larger transfers.
Depending on how much you're sending, you may have to look for other options such as money transfer services that can make a deposit to the recipient's bank account.
The escudo is pegged to the euro at a rate of 1 EUR = 110 CVE. This means that the Cape Verdean escudo moves at the same rate as the euro. This has been in place since the late 1990s, where it was pegged against the Portuguese escudo. So while CVE is the main currency in Cape Verde, some of the larger hotels will accept euros.
To send money to Cape Verde, you'll typically need to provide the following information:
To find the best deal, remember to look at both the fees and the exchange rates. But if you're looking for something in particular, it may be worth prioritising those over cost.
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