How to Send Money to South Africa

How to Send Money to South Africa

If you were to google “how to send money to South Africa”, you would be faced with an extensive range of choices. 

From bank transfers to third-party providers, there is certainly no shortage of options – which is a welcome relief since South Africa hasn’t always enjoyed as great a range of products as other countries. 

However, not all of these money transfer opportunities to SA are easy to understand! 

Where one option may offer a speedy transfer, it may come with an unfavourable exchange rate. And once you’ve chosen what you think is a great way to send money home from the UK, you come unstuck when you read the small print and find that it’s costing you a lot more than you budgeted for. 

We can’t speak for all the money transfer options out there. What we can do, though, is to offer a simple explanation of how Mukuru assists you with a cost-effective way to send money from the UK to South Africa. 

Challenges of SA Consumers

It’s estimated that approximately 85% of South African adults now have a bank account, which is a sharp rise from just 54% a decade ago. Even so, that leaves around six million adults without a bank account, which makes it understandably tricky to conduct financial transactions. 

Additionally, a large percentage of the population lives on or below the breadline, which causes significant issues when food prices rise sharply (as they have done), transport costs increase, and those inevitable medical emergencies creep in.

If you don’t know someone who has emigrated to the UK, you are definitely in the minority. Statistics show that in 2020, South Africa lost just shy of a million nationals, most of which went to the UK or Australia. And while the annual average emigration rate has fluctuated, it’s clear that SA is losing around a million valuable, working-age individuals each year. Many of these hope to improve their lives and assist loved ones left behind. 

And that means sending money home. 

How to Send Money to South Africa 

If you’re looking for a safe, fast, and efficient way to get those much-needed funds to your family in a hurry – then we encourage you to explore Mukuru. This is how it’s done. 

Sign up with Mukuru

Download the Mukuru App from the Google Play Store, iOS App Store or App Gallery. Enter your details and verify your phone number. Once your details have been verified, you can start sending money straight away.

Check the exchange rates and fees

Visit our website and utilise our calculator to check our rates for different countries. Your first order will not incur a transfer fee, but it’s worth noting that documented Mukuru fees include the foreign exchange rate and transfer fees, so there are no surprises. 

Place your order

Follow the prompts on your app or on our website where you will need to input:

  • The country you wish to send money to
  • The receipt method
  • The amount you want to transfer
  • The name and cell number of the recipient
  • Your preferred method of payment

You will receive an SMS with an order number which is your reference for this transaction.

How much money can I send to South Africa?

Based on a successful KYC data check and identity verification, you can send up to £600 per month. If you need to send more, then you can increase your limits – find out how here

Sending and Receiving Money Is Fast and Easy With the Mukuru App

With the Mukuru app, sending and receiving money is fast and easy. You can send money to an account or to a person. The transfer is quick and secure!

If you choose cash pick-up as the method of delivery when sending funds, you’ll need to have your recipient’s phone number. Once they get the notification that they have received funds on their phone—and verify their identity—they can go to any one of our Pickup Points across South Africa and collect their cash which include:

  • Capitec
  • Bidvest
  • Investec
  • FNB
  • ABSA
  • Bank of Athens
  • Inter Africa Bureau de Change

Simple Sending with Mukuru

As you can see, sending and receiving money with Mukuru is fast, easy and safe. You can send money wherever in the world, including to your family and friends at home in South Africa. For more information, please visit our FAQ page and feel free to get in touch should you have any queries.

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