Tips To Send Money To Rwanda Much Better While Doing Other Things

Information verified correct on December 11th, 2016

shutterstock_RwandaSend money to Rwanda, one of the 10 fastest growing economies of the world.

Rwanda is a country that has suffered huge losses, especially during the political and economic turmoil of the 1990s. Since those turbulent years, Rwanda has won itself a position on the top 10 list of fastest growing economies in the world.

According to the Australian Department of Foreign Affairs and Trade (DFAT), Rwanda offers prudent fiscal and monetary policies and average annual economic growth in excess of 8% over the last decade.

Despite these growth spurts, poverty is still a huge problem in Rwanda, and economic aid from Australia can help turn this around.

Rates last updated December 11th, 2016
Description Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
World First Foreign Exchange for Online Sellers
World First Foreign Exchange for Online Sellers
Open bank accounts in the UK, US, Canada and Eurozone and sell on more marketplaces while reducing the cost of repatriating earnings. Buy goods from China and sell them in the USA. AUD 250 2 days Online, Phone, Agent Go to site More
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
Exclusive: World First Foreign Exchange
Exclusive: World First Foreign Exchange
Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.
AUD 500 2 days Online, Phone Go to site More

Each year, Australia imports $1.2 million worth of coffee from Rwanda, and the two countries trade a total of about $5 million in services.

Money transfer company comparisons for sending money to Rwanda

Celia and her family immigrated to Australia from Rwanda in the early 1990s. She was a young girl at the time and finished her education in Australia, but has now been working for a couple of years. After yearning to return to Rwanda for a couple of years now, Celia has gotten into touch with an uncle who will be able to help her with the transition back to Rwanda. She wants to set up basic cash flow for when she is there. She has drawn up the table below to compare her options.

Money transfer company AMoney transfer company B
Exchange rateAUD$1 = 549.672 RWFAUD$1 = 520.324358 RWF
Transfer feeAUD$10 if transfer is under AUD$10,000AUD$25
Amount of RWF received in Rwanda for 1,000 AUD549,671.54 RWF520,324.36 RWF
Transfer time2 to 4 days10 minutes
Transfer optionsPhone, online account, mobile appPhone, online, agent location
Difference in RWF+ 29,347.18 RWF- 29,347.18 RWF
Back to top

How did Celia compare transfer companies?

  • Exchange rates. The Rwandan franc is weaker than the Australian dollar. When doing comparisons, don’t only go off marginal exchange rate differences, also look at what the actual buying power is.
  • Pickup methods. Money can be received in a supported bank account or be picked up at a MoneyGram, Western Union or Xpress Money agent location in the towns listed below. Stick to main cities when picking up cash and research pickup options in the areas you will specifically move around in.
  • Fees. There aren’t huge fee differences when you send money to Rwanda. Cash transfer is a great option for emergencies and won’t result in high fees.
  • Bank to bank benefits. Bank to bank relationships between Rwanda and other international locations isn’t listed on most Australian bank websites. Citibank supports the RWF currency but requires a branch visit.
  • Turnaround time. The turnaround time ranges from minutes to days and usually has marginal cost differences.
  • Transfer methods. The transfer methods that can be used include online transfers through a registered online account, phone, mobile apps and agent or branch locations.
  • Transfer options. Depending on the service used, your transfer options may include recurring payments, spot contracts, market orders, once-off payments and booked rates.
  • Minimum/maximum transfer amounts. Minimum and maximum transfer amounts are important not only on the sending end but also on the receiving end. If you plan to send a large amount, phone the agent ahead of time to confirm availability of funds. Minimum amounts can be as low as $10 or over $10,000.
  • Customer service. Customer service is extremely important when visiting countries with a history of political or economical instability. Use email support as much as possible so that you have a record of your queries.

How will you send and receive money between Rwanda and Australia?

  • Money transfer services. The following companies can be used for an international money transfer: MoneyGram, Western Union, World First Foreign Exchange and Xpress Money. Visit a Moneygram and Western Union agent location to see if they have agent locations that send as well as receive funds.
  • Banks. Citibank supports the RWF currency but does not have any listed branches in Rwanda itself. Visit a Citibank branch to find out how you can send or receive money to and from a bank account in the RWF currency.
  • Paypal. Visit local banks in Rwanda to confirm which ones support uploading or withdrawing of funds to and from PayPal.
Back to top

Emergency cash transfers are possible within minutes to Rwanda

In the case of an emergency, you can send money to Rwanda through companies like Moneygram, Western Union and Xpress Money. Some of the agent locations are listed below.

Cash pickup locations in Rwanda using Western Union, MoneyGram and Xpress Money

Western Union

Kigali

  • Banque Commerciale Du Rwanda
    Bp 354 Boulevard De La RevolutionKigali, Kigali City 250
    +250-788302927
    8am to 9pm Thursday to Monday, 8am to 11:59pm Tuesday
    24 hours on Wednesday
  • Agaseke Bank Town
    Kigali, Nyarugenge 265
    +250-252593154
    7:30am to 5:30pm Monday to Friday, 9am to 1pm Saturday
    Closed on Sunday

Gisenyi

  • BK Rubavu Main Branch
    B.p 171Gisenyi
    +250-593154
    8am to 8pm Monday to Friday
    8am to 4pm Saturday, 8am to 7pm Sunday

MoneyGram

Kigali

  • Bravia Forex Bureau - Kigali
    Remera, Kigali, 28833
    788909597
    7am to 9pm Monday to Sunday

Kigali

  • Equity Bank Rwanda - #4002 - Kigali
    494, Grand Pension Plaza Building, Kigali
    784111280
    8am to 6pm Monday to Friday, 8am to 1pm Saturday
    24 hours on Sunday

Xpress Money

Kigali

  • Bank of Kigali - Nyamata Br
    611, Avenue de la Paix, Kigali, Bugesera, Eastern, Rwanda
    P:P. +250-25-25593100
    8am to 8pm, Monday to Sunday

Gisenyi

  • Bank of Kigali - Mahoko Br
    611, Avenue de la Paix, Kigali, Rubavu, Gisenyi, Rwanda
    P:P. +250-2525
    8am to 8pm, Monday to Sunday
Back to top

Tips for picking up cash in Rwanda

When picking up cash in a foreign country, always have government-issued photo ID. Have the tracking or reference number handy as well as the receipt for the original transaction.

Travel in groups and avoid travelling at night. Like its neighbouring country Burundi, Rwanda is prone to severe civil unrest. Crime and violence are currently at high rates, and public demonstrations should be avoided at all costs.

How will you go about the process to send money to Rwanda?

If you want to send money to Rwanda using Moneygram, Western Union or Xpress Money with one of their agent locations as a pickup option, make sure you have the following:

  • Details of the recipient
  • Details of the specific agent location so that you can phone ahead to confirm whether they have the correct amounts of the currency available
  • The amount and currency you would like to send
  • A registered account with the service you will be using

When you are sending money to a supported bank account in Rwanda, make sure you have the following:

  • Details of the bank and bank account number, including SWIFT BIC details
  • Correct amounts in the supported currency
  • Details of the recipient

Make sure to send a tracking or reference number and a copy of the receipt to the recipient. This information, along with government-issued photo ID will be required to pick up the transferred funds.

International Money Transfer Offers

Learn about our information service
TorFX International Money Transfers

TorFX guarantee to beat any competitor's exchange rate for a transaction
Conditions apply

Exclusive: World First Foreign Exchange

Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.

Exclusive: CurrencyFair International Money Transfers

Exclusive offer: 3 Free transfers (after your first transfer).
A peer-to-peer transfer service with a large range of currencies on offer.

FC Exchange International Money Transfers

No transfer fee via online, branch or phone when transferring more than £10,000 or equivalent.

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

Ask a question
feedback