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The Gambia is the smallest nation on the African mainland. It is also amongst the continent’s most densely populated countries. Given that this narrow strip of land falls on both sides of the Gambia River, agriculture and fisheries play important roles in its economy, so does tourism.
The total merchandise trade between these two nations during 2014-2015 stood at $84,000, which included imports and exports.
Australia’s exports of services to The Gambia during the same period touched the $1 million mark. Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.International Money Transfer Offer
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Lamin Dibba came to Australia as a student. After he completed his college education, he found a suitable job that let him remain in Australia. Since his parents continue living in The Gambia, he wishes to start sending them some money. He figures he can afford sending around $1,000 once every couple of months.
The Australian bank he has an account with does not carry out fund transfers to The Gambia, given its exotic currency. Lamin turns online to compare money transfer companies, and this is what he finds.
| Money transfer service 1 | Money transfer service 2 | |
|---|---|---|
| Exchange rate | $1 = GMD26.5109 | $1 = GMD27.42305 |
| Transfer fee | $0 | $13.99 |
| Amount received for $1,000 | GMD26,510.90 | GMD27,039.40 |
| Transfer time | 1-2 days | Instant |
| Transfer options | Bank account | Cash pickup |
| Difference of | GMD528.50 |
While the second money transfer company charges a fee for its services, it results in Lamin’s father getting more money.
Since his father lives close to a cash pickup centre, choosing to go with it seems like an obvious choice. Going forward, Lamin intends comparing his options before each transfer.
Since there are numerous money transfer companies to choose from, it is important that you compare them across different parameters.
You can send money to The Gambia from Australia in different ways.
Receiving money from The Gambia in Australia presents multiple options.
If you end up losing your wallet when you’re in The Gambia, make sure you report your credit and debit cards as lost or stolen immediately. You can think then about getting some emergency money in different ways.
Western Union and MoneyGram have a number of cash pickup centres in The Gambia. When visiting any of these centres to collect cash, take a reference number and a valid form of ID such as your passport or driver’s license with you. If you plan on collecting a large sum, call the centre in advance to confirm availability of funds. Here are some Western Union and MoneyGram cash pickup location in The Gambia.
When you’re in The Gambia you should lookout for suspicious behaviour, as you would normally do in Australia. There have been instances of crime against tourists, which include muggings at beaches after dark as well as theft from hotel rooms and vehicles. Passport thefts are not uncommon.
Remain watchful of pickpockets on ferries and in crowded market areas. Don’t carry large sums of money or jewellery to the beach.
Bear in mind that this country still remains a largely cash-based economy. ATMs in The Gambia can be unreliable. Not all hotels accept traveller’s cheques.
The steps you have to follow and the details you have to provide depend on the method you choose.
The Australian Government provides scholarships to some Gambians, which the Gambian government duly appreciates. These two nations are also looking at collaborating significantly in the realm of agriculture, with Australia also keen to assist in the development of mining within The Gambia.
