Send money to Cameroon
Want to send money to Cameroon or receive money in Cameroon? Money transfer to Cameroon is easier nowadays.
Western Union, MoneyGram, MoneyLineUK are amongst the very popular Cameroon money transfer operators.
They partner with several local banks and Cameroon Post Office ( CAMPOST ) to provide money transfer services to the entire nation of Cameroon.
Also available is the traditional option of bank wire transfer. Here you will learn more about Cameroon money transfer services - rates and fees.
Facts: |
| In 2006 Africa received 7% of the US$ 250 billion in worldwide money transfer. South America received 35%. |
Money Transfer
There are many ways to carry out Cameroon money transfers. The well known worldwide money transfer giants are Western Union and MoneyGram. Smaller players include MoneyLineUK, Emoneysender and Express Exchange.
WesternUnion and MoneyGram are very popular and cover the entire nation of Cameroon.
Western Union with its seven agent representatives: six banks and the seventh being Cameroon Post Office ( Campost ), holds an enviable position in this market. Western Union for all practical purposes covers the entire nation and can be access from anywhere in Cameroon.
The others are mostly confined to the major commercial cities of Douala and Yaounde.
Express Exchange provides many services as do regular banks: Cashing of Cheques, exchange of foreign currencies and others. Branches are mostly in Bamenda, Buea, Douala, and Yaounde.
Also available is the very cheap,very secure, with excellent exchange rates but very slow tradition bank wire transfer method. For $15 to $50 you can transfer any another of money from one bank account overseas to another overseas account in an unrelated bank, up to the federal mandated limits. Takes from 7 to upwards of 30 days to clear.
Facts: |
| You Save 1% Using Western Union Services. If time is not a factor save even more thann 2%. send money via bank wire transfer service |
| Money Transfer Operators | Fees per US$ 500 | Exchange Rate Comparison (%) | Coverage of Cameroon | Ease of Using the Service |
| MoneyGram | $11.00 | 448.530121 (0%) | 114 Cities & Towns | Good. Funds send 10 minutes |
| Western Union | $10.50 | 452.1158878 (0.8%) | Nationwide. Any bank or CAMPOST | Excellent. In minutes. |
| Wire Transfer | $15 - $50 (any amount) | 457.91 (2.1%) | Any bank account accepting such | Very slow. 7 - 30 days |
| MoneyLineUK | ?? | ?? | COMECI & Union Bank only | Same day |
| EmoneySender | ?? | ?? | 137 Cities | Same day |
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