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.
Send Money to Ethiopia with WorldRemit
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Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
Banks versus money transfer companies
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 Sends Money to Ethiopia
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.
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.
Cash pickup locations in Ethiopia/ Western Union/ MoneyGram branches in Ethiopia
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.
Aba Mella Branch Hican BuildingUmmar Semetar Street Addis Ababa, 12947 +251-11-1557649Open 2am to 7pm Monday to Saturday
Abinet Branch Abinet Area Gibe Commercial Center Sub City Lideta P O Box 12947 Addis Ababa, +251-11-2781307Open 2am to 7pm Monday to Saturday
Allay Badey Around Ashewa AreaInfront Of Cigarettes Market Dire Dawa, 19963 +251-254-110532Open 12:40am to 3pm Monday to Saturday
CBE Dire Konnel Dire Dawa Location Konnel Dire Dawa, +251-251-113066Open 7am to 4pm Monday to Friday, 7am to 11am Saturday
Awash Bank Around Addisu Gebeya Belay Zelek RoadAddis Ababa,111268100Open 8am to 7pm Monday to Saturday
OIB Addis Ababa911713598Open 8am to 6pm Monday to Saturday
CBE - Lege Oda Dire Dawa, 68252110327Open 8am to 7pm Monday to Thursday, 24 hours Friday to Sunday
CBE - Kefira Kefira AreaDire Dawa,251110115Open 8am to 6pm Monday to Saturday
Tips for picking up cash in Ethiopia
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:
Only visit a transfer branch in an area where you feel safe
Keep your cash hidden – don’t display it in public
Take a friend along to provide extra security
Don’t carry a large sum of money around with you for any longer than necessary
You’ll need to check the exact money transfer process with the transfer company you choose, but you will generally need to:
Register for an account. Accounts are usually free to sign up for and you can do this online. You will need to supply your full name, contact information, proof of ID and bank account details.
Enter your transaction details. The next step is to enter all the relevant transaction information, including how much money you’re sending and in what currency. You’ll also need to specify who will be receiving the transfer.
Finalise the transaction. After reviewing the cost of your transaction, it’s time to finalise and submit your transfer request. Most companies also provide an online tracking service so that you know when your funds have been delivered.
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
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