- Send money online within minutes
- Large range of destinations
- Able to send to cash pickup locations
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Located in the Horn of Africa, Ethiopia boasts an intriguing archaeological history and is home to around 100 million people. If you ever want to send a money transfer from Australia to this landlocked African nation, there are plenty of ways to do so.
Before you choose a transfer method, it’s essential that you compare the options at your disposal to see which one is the most affordable.
One convenient option when you need to send money overseas is to ask your bank to take care of the transaction. While banks certainly present a convenient option when it comes to international money transfers, their services are far from affordable. Banks are known for their high transaction fees and terrible exchange rates, so you can usually find a cheaper option by looking elsewhere.
When hunting around for a provider to help you send money overseas, consider the services offered by specialist online money transfer companies. These companies trade in high volumes of foreign currency, allowing them to offer much better exchange rates than the banks. They also charge lower transaction fees, allowing you to save money whenever you send funds overseas.
Anne’s friend Jonathan lives in Ethiopia and is in desperate need of money to pay for repairs to his car. Anne offers to send him $1,000 as quickly as she can, and she looks around to find a company that offers urgent cash transfers. Since her bank doesn’t support exotic currencies, she compares two specialist companies offering this service, their exchange rates and fees to see which one offers the superior deal.
As you can see in the table below, Anne can save AUD $15 in transfer fees by using the second transfer company and also send an extra six ETB to Jonathan.
|Money transfer company 1||Money transfer company 2|
|Exchange rate||1 AUD = 14.401 ETB||1 AUD = 14.407 ETB|
|Transfer method||Cash pick-up transfer||Cash pick-up transfer|
|Processing time||10 minutes||10 minutes|
|Amount received (in ETB)||14,401 ETB||14,407 ETB|
In certain circumstances you may need to send a cash transfer from Australia to Ethiopia as quickly as possible. If you find yourself in this situation, make sure you’re aware that emergency international cash transfers usually cost more than standard online transfers.
Thanks to low exchange rates and increased fees, you’ll pay more for your transfer than you would in normal circumstances – so review the details and cost of your transaction before you hand over your money.Back to top
Western Union and MoneyGram both operate substantial cash pick-up transfer networks around the world. Some of their popular cash pick-up locations in Ethiopia are listed below. If you’re picking up cash, make sure you have photo ID and a transaction reference number handy.
The Department of Foreign Affairs and Trade advises Australians to reconsider their need to travel to Ethiopia. If you wish to visit the country nonetheless and you need to pick up a cash transfer while there, keep the following tips in mind:
You’ll need to check the exact money transfer process with the transfer company you choose, but you will generally need to:
MasterRemit allows you to transfer your money quickly in a range of currencies.
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Make simple and small transfers to the Philippines through the IREMITX app.
Pay 0% interest on balance transfers for the first 22 months with no balance transfer fee. Plus, get a $50 Kogan.com Credit when you meet the spend requirement with this exclusive offer for the Kogan Money Black credit card.
New customers use code AZIMO50 to get GBP 5 off when you transfer GBP 50+. Valid till 31 October 2021. T&Cs apply.
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.
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.
New customers get their first transaction for free with code FIRSTFREE. T&Cs apply.
Send money in minutes at competitive exchange rates with this Australian money transfer service.
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