Home / Best money transfer to Benin • Cost, duration, comparison

Best money transfer to Benin • Cost, duration, comparison

Best money transfer to Benin • Cost, duration, comparisonSending money to Benin is easy and easily accessible to everyone. Of course, you must take into account all kinds of factors so that you can send it with all the guarantees that banks or companies that are dedicated to this type of transactions can offer you. You should also know that it is not the same not does it take the same to carry out the transaction itself, but this is something that we will address in the next sections.

Therefore, you should know how to send money to Benin, whether it is by a bank or by a company of this type.

We must also make a comparison with guarantees that it fits all the requirements we have to make the shipment, for this we must take into account certain factors, so when we have chosen the company we can do that transaction.

In addition, the transfer will be as cheap as possible within minimum rates that will depend on the company or the bank with which we are working specifically. In addition, these rates are based on specific characteristics that we have, along with what the company offers us and that falls within our specific budget.

Comparison: Best Transfer Money to Benin

Winner

TransferWise reviews

TransferWise

First Transfer Free!

  • Transferwise is a very good provider for overseas transfers. The transfers are easy, convenient and secure. The most important thing is that the transfers are also much cheaper than with the bank.

Best-money-transfer-Currencyfair

currencyfair

Five Transfers Free!

  • A world-class customer service, very good exchange rates and permanently favorable transfers abroad and to Germany convince. Only downside is the small selection of countries.

TransferGo Reviews

transferGo

Send money very fast!

  • Save up to 90% compared to banks. No hidden costs. Large selection of countries.
Winner

Azimo Reviews

AZIMO

First Transfer Free!

  • Azimo is a very competent partner for the international transfer. Azimo has a large selection of countries and the transfers are safe and cheap.
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EUR

How can I send money to Benin?

Introduction

There are two main ways to carry out this money transfer, one of them is the bank and another is a company specialized in this type of transactions.

In order to carry out any transfer, you must keep in mind that you have to follow the following steps:

  • Create an account: whether you use a bank or a company of this type, you must create an account. You have to provide your name and identification.
  • Transaction details: you must provide details about the amount to transfer or the type of currency.
  • Details of the recipient himself: in this you should almost put the name, identification or bank account.
  • Finish the transfer: you must pay the fees or commissions to complete the process.

Bank

One of the possibilities to send money to Benin is a bank that can offer you this kind of services. It must be taken into account that transfers will depend on whether or not there is an agreement between the countries that send and those that receive to have a special treatment or not. In the event that this agreement does not exist, the transfer will be treated as an international transfer, so the commissions will be more expensive.

So we must take this into account to calculate the possible shipping price.

Money transfer provider

Another possibility is to send the money through a company specialized in international money transfers such as transfer companies.

There are many companies so we must take into account the needs of both the sender and the receiver to choose the best one.

The factors that you have to look for are the following:

  • Exchange rate: the value of the rate must be taken into account when making the transfer, since the higher the amount, the less money will be received by the recipient, so it is highly recommended to choose the one that charges us the least.
  • Fees: you should know the rates that companies charge you for making the transfer, this can end up in a small transfer being expensive when it did not have to be this way.
  • Transfer methods: you have several ways to make the transfer, one of them online, another one using the company’s application on your mobile and the other at the company’s own branch.
  • Transfer time: varies between companies and even between reception methods, so it can range from minutes to several days, so you must choose the one that suits you best.
  • Limits: on many occasions, companies require you a minimum or maximum transfer, so it is something to keep in mind.
  • Collection methods: you can choose different methods to collect your money. They range from entering a bank account, to home delivery, through cash delivery.

How much does it cost to transfer money to Benin

Shipping rates are what the company charges you for making the transfer itself to the country, Benin.

These rates will depend on the company we work with, the amount to be sent and the method of collecting that money.

That is why if we send for example 100 dollars from the United States to Benin, the rates that we will generally find are around 4 dollars, in this case regardless of whether it is done instantaneously or not, or if the collection method is for bank or cash account.

Duration of a money transfer to Benin

The time it takes for the transfer will depend on the collection method we have chosen, so in general, if the transfer is going to be collected in cash, it will be instantaneous, but if it is going to be made in a bank account it must be at least one day .

As for the bank account. It should be noted that in addition to the day it takes for the company to proceed to the deposit, you have to add the time it takes for the bank to process it, this moves in 2-3 business days approximately, because it is something you should have very much in mind if the receiver needs the money right away or not.

Conclusion

Therefore, we can send money to Benin in two very easy ways and that we have virtually at hand at all times.

One of them is through a banking entity that allows you to transfer internationally, although it is usually quite expensive and is the least used today. In most cases you pay more in commissions than the transfer really is.

The second way is through the transfer companies, which are specialized in sending money of this type. In this case, you have to make a good comparison of them according to some factors such as payment rates, the time it takes to make the transfer effective or the method of collection for the recipient among other variables.

So the fastest way to make that money transfer is undoubtedly through a transfer company.