Every year, millions of people from South Africa transfer money back home to help their families with living expenses, improve their quality of life and boost the domestic economy. Many of them live and work in the UK.
Consequently, many in this community seek a fast and easy way to send money to South Africa. But, they are looking for options other than banks since wiring funds via banks is both time-consuming and quite expensive. Hence, here below we’ll introduce three online remittance providers for helping to send money to South Africa.
Remitly
The main reason for Remitly’s popularity is it’s ease of use. Remitly users wire fnds to a wide range of countries, including South Africa.
However, like many remittance providers, Remitly isnt entirely transparent regardng its transfer fees. In fact, there’ve been complaints about the fact that more than 30% of Remitly’s transfer fees are hidden in the exchange rate margin. Plus, Remitly may take up to five days to send money to South Africa due to its outdated structure.
Azimo
You cannot talk about online remittance and not mention Azimo, a reliable brand indeed. Azimo users have access to flexible payment methods and many pick-up locations. Thanks to the user-friendly interface, you can easily sign up on the platform and send money.
The biggest downside to Azimo’s operation is it takes around five days to send money to South Africa. Plus, it provides unfavorable exchange rates and doesn’t optimally support users in their time of need.
Lycaremit
Lycaremit is among the few remittance providers with a solid customer base in South Africa. Lycaremit users can quickly sign up and send money to South Africa in just two days, thanks to the easy-to-use platform.
Competitive, transparent fees and favorable exchange rate margins are only some of the reasons for Lycaremit’s popularity. In addition, all transactions are fully protected with RSA 256-bit technology.
Bottom Line
Sending money from the UK to countries outside Europe can be a hassle. Banks charge hefty fees for simple transfers, and many online providers don’t support countries like South Africa.
Therefore, you must find a reliable provider to send money to South Africa while paying minimum fees and obtaining sensible margins. Luckily, you don’t have to look far because Lycaremit fits the description exactly. Hence, please don’t hesitate and register with us right now.
