This line of questioning just got me going on an investigative roll.
Here is what I found, thus far.
I am looking at sending a small amount R1000.
For large amounts I may just keep using that bank for certainty sake.
Todays posted exchange 8.8869 online.
(I know the rate is semi false but its a baseline because no one will give you that exchange rate really.)
Costs are with exchange included where possible.
Moneygram
exchange 8.536936
Fee: $15.00
COST: 19.61
World Remit
Exchange 8.72295883
Fee: $3.99
COST: $6.10
Paypal
Can not send RAND
Can send CAD at zero fee
Who knows what the receiver gets dinged
Hidden costs CC rates of at least 2.5% plus their exchange
COST: Who knows.
Bank
Outgoing .2% of the amount just because they are a bank
Min Fee: $15.00
Communication Charge: $10.00
They could not even tell me an exchange rate, its the weekend.
You can guess at least 2.5% min though.
COST: $30.85
