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It wasn’t always easy to send and receive money across the Equator, but people all over Australia can rest assured it can be done in current times with a quick visit to a bank or money transfer service.
Although there are limited relations between Australia and Yemen, there are several reasons why it’s important to be able send and receive money between the two.
Both are founding members of the Indian Ocean Rim Association and, since 2009, “Australia has provided more than $21 million to Yemen in humanitarian assistance through UN agencies and the International Committee of the Red Cross” according to the Australian Department of Foreign Affairs and Trade.
Gill has always had a deep desire to visit the northern parts of Africa and the middle east due to its rich history. She did some research and compared two money transfer companies that offer her a cash pickup in Yemen.
She hasn’t been able to find any Australian banks that do international money transfers to Yemen and will use this as her final resources when she goes over. Below is a summary of her findings when using 1,000 AUD as the transfer amount.
Money transfer company A | Money transfer company B | |
---|---|---|
Exchange rate | 1 AUD = 145.358662 YER | 1 AUD = 148.6667 YER |
Transfer fee | 60 AUD | 70 AUD |
Amount of Yemeni Rial received in Yemen for 1,000 AUD | 145,358.66 YER | 148,666.68 YER |
Transfer time | Minutes | Minutes |
Transfer options | Online or branch transfer with a cash pickup at an agent. | Online or branch transfer with a cash pickup at an agent. |
Difference in YER |
|
Today's exchange rate AUD to YER
Because of the political uncertainty in Yemen, only one money transfer company can help you out if you want to send money to Yemen.
MoneyGram has been around for ages and will allow you to send and receive money in minutes but it will require a higher fee than standard money transfer services.
There are many agent locations that can be found on their international sites. A couple of the options in popular cities are listed later in the article.
When receiving cash, you will need to visit an agent in Australia with your government-issued ID. You'll also need to ask the sender for the tracking number (MTCN).
If you want the money deposited in your bank account, you will need to supply the sender with your BSB and account number. Be sure to notify the sender that they need to request this option specifically when starting the money transfer process.
Al Hadha Exchange Company - Sana’a - Taiz
Taiz street near Alawadhi Hospital, Sana’a
1628877
Open 24 hours Mondays to Sundays
Alkuraimi Islamic Microfinance Bank
Aser street, front of Saba Fon Co, Sana’a
967217870
Open Saturday to Thursday 8am to 9:30pm and 24 hours on a Friday
Alkuraimi Islamic Microfinance Bank
Al Mansoura, Aden, 0
2350295
Open 24 hours Mondays to Sundays
Although there are more than enough pickup locations in Yemen, it is important to make sure the area of pickup is in a busy area with a lot of people.
Foreigners usually stick out like a sore thumb, and going into a cash pickup agent means it’s pretty obvious you will be carrying cash with you.
It’s also advisable to have more than one copy of identification with you along with any tracking numbers on incoming transfers so that no one can scam you out of your money.
To pick up the cash in Yemen, you'll need:
This role is an important one for Australia as about 80% of Yemen’s population requires humanitarian assistance. The World Bank has remarked that from 2017, Yemen’s sources of oil and natural gas will start a steady decline.
This means that support and investment from countries where Yemen has existing economical established relations, like Australia, will play a vital role in improving infrastructure.
To support this, Yemen already has 20% of its budget allocated to this focus point. Furthermore, in 2014, the total Australian exports to Yemen came in at $400 million. These comprised mainly wheat products, as well as dairy and vegetable items.
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Hello,
I need to send money to Yemen . Can you tell me the safest way and best transfer company to use. Thank you.
Hi Russell,
Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?
The information above will suggest ways to send money to Yemen. You may read through the criteria given and see which ones benefit you most. It would be fees over turn around time or vice versa.
Please note that we’re a product comparison website and we hold no affiliation with any company we feature on our site. We provide general information on products to assist you in your buying decision process hence we cannot recommend product / service that is rightfully fit for you.
Hope this helps! Feel free to message us anytime should you have further questions.
Cheers,
Nikki