Quarterly cost of sending 200 USD worth of remittances towards South Africa 2011-2023
Remitting towards South Africa incurred an average cost of roughly 6.6 percent over the course of 2023, a decrease when compared to the previous year. The cost of sending money to the African country was at its highest in 2013, and generally declined before decreasing significantly at the end of 2021. The source adds that incoming remittances to South Africa were more expensive than the average for the G20 countries, which was estimated at 5.62 percent for sending money worth 200 U.S. dollars.