The Cheapest and Best Way to Send Money to South Africa

There are several options for sending money abroad to South Africa. While banks and services like Wise offer money transfers, they often come with high fees and poor exchange rates. A dedicated international money transfer provider like Fivewest provides the cheapest and best way to send funds.

Banks typically charge very high fees for international wire transfers, ranging from $40-$50 per transaction. They also don't provide great exchange rates since they build in their own profit margin. Services like Wise can be cheaper than banks, but their exchange rates are not as competitive as a specialist provider.

With Fivewest, transfers only cost a small fixed fee per transaction. Exchange rates are checked daily against major banks and Wise to ensure customers always get the top rate. This can save you up to 5% compared to alternatives. There are also no hidden charges.

Payment options are flexible with Fivewest. You can pay via bank transfer, debit card, credit card or electronic wallets like Apple Pay and Google Pay. Bank transfers are recommended as they incur the lowest fees, while credit cards attract the highest fees.

One of the best features of Fivewest is the ability to set rate alerts and lock-in rates when currency markets are favorable. This enables you to maximize your transfer amount compared to just sending at the current rate. Wise does not provide forward rate locking.

For convenience, the Fivewest app and online platform make sending money abroad to South Africa fast and secure. Transfers are generally received within 2-3 days. You also get dedicated account support for any questions or transaction management needs.

In summary, while banks and Wise offer money transfer services, the dedicated specialization and better exchange rates of Fivewest provide the cheapest and best way to send money to South Africa. Sign up for free today and save on your next international transfer.