Send money to Angola

Best way to transfer money to Angola

What’s the easiest, cheapest method of wiring money? Most people, looking for ways of sending cash, face similar questions. Like with any other country, Angola's financial sector is well-developed, with many financial institutions like banks, international money remittance services as well as mobile or online based remittance services to choose from. Truth is, despite the many options, it gets confusing when you're selecting the cheapest, easiest money transfer method.

How to send money

Interbank transfers, wire services, money orders, cash pickup points, debit and credit cards are among the popular methods that you can use when sending cash to your friends, family, or employees. That said, here are the common money remittance services.

1. Banks. For business customers, banks are a solidly reliable money transfer method for remitting bulk cash. Although banks are usually expensive, international banks with branches can be a good start.
2. Cash transfers. For emergency cash transfers, nothing beats the good old cash pick up.  You'll need to get a cash transfer service with agents in Angola. Cash pick up is a fast and convenient method of transferring money, only that it can get expensive when compared to online remittance services.
3. Online and mobile transfer services. Online-based cash remittance services are cheaper than most other methods. The good news is that Angola is home to many remittance services, so you'll have variety. They include WorldRemit, Skrill, to TransferWise, among others.

Which service to use

Before you embark on the process of sending money, its important to note that Angola is a cash-heavy economy. As such, many people prefer cash remittances as it’s fast and convenient. The other popular alternative is mobile money. To use mobile money services like e-kwanza, you should sign up for a mobile money account.

Before you wire money, you'll generally need documentation, regardless of the method you choose. These include;

1. ID; a driver's license or a passport.
2. Cash transfer details; the amount in Angolan kwanza or the USD and the reason behind the transfer.
3. Details of the recipient, including their name and location.
4. Transfer number generated by the money remittance service.

How much does it cost?

A transfer fee is part and parcel of cash remittances. That being the case, anyone transferring cash should consider the associated costs of doing so. That said, there's no size for all when it comes to sending dollars or kwanza. Each method has its costs, which will mainly be determined by the following.

• Forex rates; for bulk transactions, forex rates can be a huge expense.
• Fees; these constitute the main expense of sending cash.
• Speed; faster remittance options are usually costlier than slow methods.
• Delivery options; when sending cash to pick up locations, costs can be higher compared to wiring money directly to a bank account.

In general, the fastest cash transfer method in Angola is cash pickup. However, this method is costlier compared to online cash remittance services.

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