Powerful Tips To Help You Send Money To Mozambique Better

Information verified correct on December 7th, 2016

Mozambique

A guide on sending money to Mozambique the easy way.

With a coastline of 2,470 km facing the Indian Ocean, Mozambique can give Australia a run for its money with its diverse and fascinating beach experiences ranging from tropical, wild, adventurous and world class. Since 2001, Mozambique has showcased one of the most consistently high Real Gross Domestic Product (GDP) growth rates in the world of above 7% Real GDP, with impressive growth in sectors like tourism, natural resources that include gas and oil, and agriculture.

Mozambique ranks Australia as its 20th highest source for imports which accounts for about 0.7% of its total imports. The total merchandise trade, imports and exports included, is almost AUD$0.5 million, with the trade in services much higher at AUD$43 million in total. Australia also has an investment of AUD$29 million in Mozambique.

Rates last updated December 7th, 2016
Description Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
Western Union International Money Transfers
Western Union International Money Transfers
Send money online to friends and family around the world with Western Union. AUD 1 Same day Online, Phone, Agent, Bank Account to Bank Account, Cash Transfer, International Money Order Go to site More
WorldRemit international money transfers
WorldRemit international money transfers
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. AUD 0 Within an hour Online, Bank Account to Bank Account, Cash Transfer Go to site More

Compare different money transfer companies for sending money to Mozambique

Jonathan is a businessman in the gas and oil industry and has recently heard about the niche opportunities in Mozambique regarding these industries. Should there be potential in this industry in Mozambique, he might open necessary local bank accounts and work through a Paypal service to get money there.

As a second option, he compares different companies for sending money to bank accounts and for cash pickups in Mozambique. He uses a comparison amount of AUD$1,000 and gets the following data below.

Money transfer company AMoney transfer company B
Exchange rate1 AUD = 34.46095 MZN1 AUD = 32.3642 MZN
Transfer fee10 AUD (if under 10,000 AUD)70 AUD
Amount of MZN received in Mozambique for 1,000 AUD34,460.95 MZN32,364.23 MZN
Transfer time2 to 4 daysMinutes
Transfer optionsOnline, phoneOnline, phone, agent
Difference in MZN
  • 2,096.72 MZN
  • 2,096.72 MZN
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View the variables that Jonathan used to compare companies in sending money to Mozambique

  • Exchange rates. The exchange rate between Mozambique and AUD has seen a consistent weakening of the MZN currency with recent dips due to political unrest that affected the economy. These changes can be quicker to reflect on some company services compared to others.
  • Pickup methods. The pickup methods to use when receiving money in Mozambique can be through a bank account, either by receiving money to it, or by withdrawing from a Paypal account. Cash pickup is available when using MoneyGram and Western Union.
  • Fees. Fees are higher for cash pickups than for bank account transfers and usually also become less when amounts sent are higher due to a lower input cost necessary.
  • Bank to bank benefits. There are no bank to bank account benefits, although there are free service factors when using Paypal to Paypal based transfers.
  • Turnaround time. The turnaround time can range from minutes to days. Short turnaround times like 10 minutes when using MoneyGram or Western Union will result in higher fees but are ideal for emergency cash transfers. Generally, a bank account will take a longer amount of time of about two work days, but could take up to five days.
  • Transfer methods. The transfer methods include phone, online accounts, mobile app and agent locations.
  • Transfer options. For the available companies, transfer options include once-off payments, forwarded contracts, regular payments, and market orders. These are a great collection of options to cover both emergencies or a business setup as in the case of Jonathan’s needs.
  • Minimum and maximum transfer amounts. The minimum amounts range from zero to AUD$1,000 and maximums can range between a daily or maximum or weekly maximum.
  • Customer service. The customer service options include phone and email support and also a live chat option in the case of World First Foreign Exchange that could help immediate queries to be resolved.
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How can you send money to Mozambique from Australia?

  • Money transfer services

You can use Compass Global Markets, MoneyGram, Western Union and World First Foreign Exchange to send money to Mozambique from Australia.

  • Banks

The Citibank Plus account supports the MZN currency, but a visit to a branch will be necessary to know whether it is only for card purchases in Mozambique or whether it supports an international money transfer to Mozambique.

  • Paypal

Paypal supports the Mozambique market, please see below in the article on the steps for a Paypal account holder to receive money in Mozambique.

How do you receive money from Mozambique in Australia?

  • Money transfer services - You can use Compass Global Markets, MoneyGram, Western Union and World First Foreign Exchange to send money to Australia from Mozambique.
  • Paypal - Verify whether the bank account in Mozambique supports uploading money to a Paypal account and then send money to a Paypal user in Australia or withdraw it to an Australian bank account.
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Emergency cash transfers to Mozambique are possible  

There are two companies available to use when you are in need of emergency cash. Both MoneyGram and Western Union have years of experience in delivering money transfers and will get you a cash transfer within minutes.

Use the agent locations, detailed below, as a starting point and work through customer support to see if your destination can also receive a cash transfer for you to pickup.

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Cash pickup locations in Mozambique when using MoneyGram and Western Union

MoneyGram

Maputo

  • Standard Bank Mozambique
    Av Mao Tse Tung No 559, Maputo, 1100
    2581490459
    Monday to Friday, 8am to 3pm, Saturday and Sunday, 12am to 12am
  • Standard Bank Mozambique
    Av 25 De Sept No 2614, Maputo, 1100
    2581327356
    Monday to Friday, 8am to 3pm, Saturday and Sunday, 12am to 12am

Beira

  • Standard Bank Mozambique
    Largo Do Metical No 14, Beira, 2100
    2583325095
    Monday to Friday, 8am to 3pm, Saturday and Sunday, 12am to 12am

Western Union

Maputo

  • Banco Intl De Mozambique
    Millenium Bim Amilcar Cabral
    Av. Amilcar Cabral Nr.
    Maputo, Maputo
    +2582-1-311096
    Monday to Friday, 8am to 3:30pm, Saturday and Sunday, closed
  • Expresso
    Bim Expresso Timor
    Maputo, Maputo
    +2582-1-306923
    Monday to Friday, 8am to 6pm, Saturday and Sunday, closed

Beira

  • Banco Intl De Mozambique
    Rua Major Sarpa Pinto 1134 B
    Beira Sede
    Beira, Sofala
    +258-23-329605
    Monday to Friday, 8am to 3pm, Saturday, 10am to 1pm, Sunday, closed
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Global tips for picking up cash in Mozambique

Tourists and foreigners are advised to move around with a high degree of caution in Mozambique. Avoid picking up cash in the dark and if possible, keep travel to daytimes. Serious cases of crime, which include sexual assault, robberies, petty theft and bag snatching, have been reported. It is wise to move in groups and pay close attention to your personal security when picking up cash.

Public demonstrations still occur in Mozambique and it is best to pick up cash in an area where these can be avoided in your travels.  Use the locations above as a starting point and choose your cash pickup location close to professional environments and tourism hotspots.

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What are the steps to send money to Mozambique?

Send money to a recipient using a money transfer service or cash pickup service:

  1. The recipients details (includes ID in some cases) for both types of services.
  2. The bank account details of the recipient for both types of services.
  3. The physical location or agent location where the recipient can pick up the money when it is a cash pickup service.
  4. The right amount and currency from where you are sending for both types of services.

If you are sending money to a bank account, the following details are important:

  1. The SWIFT / BIC details which details the branch and bank specifics to where you are sending the money.
  2. Account details of the recipient.
  3. Recipient’s basic details.
  4. Correct amounts and currency.

If you are using Paypal, you will need the following:

  1. You will need an account with Paypal in one of its supported markets.
  2. A bank account that is able to withdraw or upload money from and to your Paypal account.
  3. Be able to convert the currency in Paypal to your local currency or bank account currency.

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