Cheapest Ways to Send Money from the USA to South Africa (2024)

Ways to send money from United States to South Africa

The best way to send money from United States to South Africa

Instarem is the best way to send money to South Africa from United States. This is based on cost, speed, and how easy it is to use.

We analyzed 13 providers that allow USD to ZAR transfers. Instarem emerged as the best option in 44.6% of searches.

How to send money from United States to South Africa

Follow these steps to send money between United States and South Africa

1. Choose your provider. Register with the provider of your choice by clicking on the link above.

2. Enter your details. Enter your details and provide any of the documents needed.

3. Start your transfer. Tell your provider that you'd like to send money from United States to South Africa, how much you'd like to send, and how you'd like to pay for your transfer. You'll also need to add your recipient's details.

4. Check the recipient's details. This is really important. It can be very difficult to reverse a transfer from United States to South Africa once it's been sent. Make sure all the details are correct before you submit.

5. Send the money. When you've checked the details, you can make the transfer.

The cheapest way to send money from United States to South Africa

The cheapest way to send money from United States to South Africa is OFX. On average, transfers from United States to South Africa with OFX cost $0, making them cheaper than their nearest competitor.

OFX has been the cheapest way to send money from United States to South Africa for the last three months, on average.

Just to make you aware, bankTransfer was the cheapest payment method.

The current mid-market rate between USD and ZAR is 18.922801. The rate the time you transfer will impact your overall cost. As an example, OFX has averaged -0.05% below the mid-market rate over the last three months, generally making sending money a little cheaper before fees.

Note: The cheapest way to send money isn't always the fastest

OFX is the cheapest way to send money from United States to South Africa, but make sure the timeframes work for you.

How the cost of sending money to South Africa from United States is calculated

The cost of sending money from United States to United States depends on several things, including:

The mid-market rate

The current mid-market rate between USD and ZAR is 18.922801. The rate the time you transfer will impact your overall cost. As an example, OFX has averaged -0.05% below the mid-market rate over the last 3 months, generally making sending money a little cheaper before fees.

The markup and fee

Providers will often charge a markup on the rate, fees, or both, for transfers between South Africa and South Africa. This is why Instarem is listed as our cheapest option - they offer the best combination of US Dollar to Rand rates (0.1) and fees (0).

Bank transfers from United States to South Africa

Bank transfers are the most common way of sending USD to South Africa as they are secure, reliable, and convenient.

If you want to send US Dollars to South Africa via bank transfer, XE has been the top rated provider in our comparison system for the last three months, recommended 40.5% of the time.

That’s because companies like XE bypass the SWIFT network and rely on their own digital network of banks, making transfers faster and cheaper. As an example, XE's transaction fees for US Dollars into South Africa have averaged at 0 for the last three months. This is significantly lower than the fees charged by banks.

Credit card payments from United States to South Africa

Credit card payments are quick, convenient, and typically more secure than other methods, thanks to backing by the issuing party. Some users may even be able to rack up reward points when making large transactions.

If you want to send US Dollars to South Africa with a credit card, Wise is your best option. They've been the top rated provider in our comparison system for the last three months, recommended 65.5% of the time.

Note: Beware of charges

Credit card payments are often classified as cash advances, which bring their own charges, as well as currency conversion and usage fees. Forgetting to pay your balance can also result in high interest charges, and can even damage your credit score.

Debit card payments from United States to South Africa

Debit card payments let you send money from the United States to South Africa with the similar convenience of a credit card, and there are usually no tax advance fees. That said, you might still face currency exchange fees, processing fees, and other expenses, making this a pricier option than a simple bank transfer.

If you want to send US Dollars to South Africa with a debit card, Wise is your best option. They've been the top rated provider in our comparison system for the last three months, recommended 65.5% of the time.

Finding the best exchange rate for USD to ZAR

The mid-market exchange rate changes daily, so timing your transfer can make a big difference to how many ZARs you can get for your USDs. The average US Dollar to Rand mid-market rate over the last month was 18.8875, with a low of 18.6075 and a high of 19.321.

For comparison, the best exchange rate for USD to ZAR right now is through Wise, at a difference of -0.08%.

How we find the best transfer deals from United States to South Africa

We’ve compared the cost, speed, and product offering of the top money transfer services (including WorldRemit) available between South Africa and United States. Or comparison tool compares providers based on live fees, rates, and transfer times to make sure you get the best deal available.

We also produce unbiased, detailed reviews of all the top money transfer companies for sending US Dollar to South Africa, helping you in making smarter, simpler choices. We pride ourselves on our objective reviews, maintaining complete independence in our analysis and ratings.

Take a look at our comprehensive editorial policy for more information about our dedication to integrity and transparency.