What's the Best Currency to Take to Tanzania in 2024?
Byron Mühlberg
Guide
Monito's Managing Editor, Byron has spent several years writing extensively about financial- and migration-related topics.
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Read moreAre you travelling to Tanzania and wondering which currency you should take there? Tanzania uses the Tanzanian shilling, meaning that, except in tourist establishments, airports, or hotels, you normally won't be able to use major currencies like the US dollar or British pound to pay your way.
To pay while you're in Tanzania, you'll either need to buy Tanzanian shilling banknotes before or during your trip, use your credit card, or use a low-cost multi-currency debit card like Revolut's or Wise's travel cards.
In a rush? Here are our recommendations for how to pay in Tanzania if you're...
- from the UK: Revolut's debit Mastercard
- from the USA: Chime's VISA debit card
- from Canada: KOHO's debit Mastercard
- from the EU, Australia, or Singapore: Revolut
- wanting local banknotes: ChangeGroup
In this short guide, we'll discuss what's the best currency to take to Tanzania, how you should pay when you're there, and what your cheapest options are to avoid paying hefty exchange rate charges.
Key Facts About Currency in Tanzania
💹 Currency in Tanzania | Tanzanian shilling |
---|---|
💲Currency Symbol | TSh |
🔠 Currency ISO-3 Code | TZS |
💵 Banknote Denominations | TSh 1,000, TSh 2,000, TSh 5,000, TSh 10,000, TSh 20,000, TSh 50,000 |
🪙 Minor Unit | Cent |
💳 Ways to Pay in Tanzania | Cash, Debit/Credit Card |
💷 Best Travel Card From the UK | |
💶 Best Travel Card From the EU | |
💵 Best Travel Card From the USA | |
💵 Best Travel Card From Canada | |
💴 Best Travel Card From Australia | |
⚕️ Best Travel Insurer | |
✈ Best Flight Aggregator | |
🛂 Best Visa Application Service |
Best Currency to Take to Tanzania
Overview of Currency in Tanzania
As we saw earlier, the currency in Tanzania is the Tanzanian shilling.
As the official legal tender in Tanzania, it's the sole currency recognized by the Tanzanian government, and you can use it to settle all financial obligations in the country, from paying for your hotel stay, to the entrance fee at the Serengeti National Park, to a bite to eat in Arusha Village.
Best Currency to Take to Tanzania
Because it's the local currency and because you won't have any trouble buying goods with it, the best country to have on hand and spend while visiting Tanzania is, unsurprisingly, the Tanzanian shilling.
However, if you're taking another currency along with you, the US dollar is a safe bet, as it's highly exchangeable at banks and currency exchange offices in Tanzania, even if it's neither official nor used ubiquitously across the country.
You can check out the prevalence of a few of the most popular tourist currencies in Tanzania below:
US dollars in Tanzania
US dollars aren't accepted in Tanzania, but you can sometimes pay with dollars at the airport, hotels, or shops and restaurants at major tourist establishments. Note that US dollar banknotes printed before 2009 might be refused. If you're from the USA, we recommend using Chime's debit card, which charges no foreign exchange fees, to make low-cost card payments while travelling in Tanzania. However, out-of-network ATM withdrawal fees and over-the-counter advance fees may apply.
British pounds in Tanzania
You cannot use British pounds to pay while visiting Tanzania. However, you can withdraw lira from Tanzanian ATMs or exchange your pounds for shillings at a local bank or currency exchange office. If you're from the UK, we recommend using Revolut's travel debit card, which has market-low currency exchange charges.
Euros in Tanzania
You cannot use euros to pay while visiting Tanzania. However, you can withdraw lira from Tanzanian ATMs or exchange your pounds for shillings at a local bank or currency exchange office. If you're from the European Union or EEA, we recommend using Revolut's debit card, which charges no foreign exchange fees, to make low-cost card payments while travelling in Tanzania.
Although Tanzanian shilling is the best currency to use and the US dollar can be helpful at times too, exchanging currencies in the form of cash almost invariably leads to poor exchange rates for tourists (we've seen as high as 20% commissions, although the average is between 5% and 15% of the amount exchanged).
For this reason, it's generally a better idea to use your credit or debit card to pay at local points of sale wherever possible or (if cash is urgently needed) to withdraw some money from a local ATM. This will let your card provider handle the conversion, which is usually, although not always, a better deal than bringing foreign currency into Tanzania and exchanging it there. However, as we'll see below, a conversion-friendly debit card is the best choice of all!
ChangeGroup
ChangeGroup is a viable option If you need physical Tanzanian shilling in cash in hand before your flight abroad to Tanzania. When it comes to popular currency pairs like GBP to EUR, ChangeGroup maintains a low FX markup of approximately 2.2%.
For less common currency pairs like GBP to Turkish lira, however, their rates may be comparable to those offered by traditional services, hovering around 15%. This is why we tend to recommend Revolut and Wise for less common currencies.
- FX Margin: 2.2% - 28.7%, varies by currency pair
- Home Delivery: For a fee
- Cash Pick Up: Free
- Guaranteed Buyback: For a fee
- Availability: UK, USA, Australia, Germany, France, Austria, Spain, Denmark, Sweden, Finland
How to Pay in Tanzania
When it comes to paying your way in Tanzania, you'll have the following three options broadly speaking:
Method 1: Cash
As we mentioned earlier, cash is an important medium of exchange in Tanzania. Pretty much all shops, restaurants, and commercial establishments around the country will accept Tanzanian shilling banknotes, and we recommend having some on hand when you travel. Foreign cash can be purchased before your trip from your bank in your home country, or during your trip at a local Tanzanian bank or currency exchange office or (most affordably) from an ATM.
Note that in Tanzania, currency exchange offices normally go by the name money changers, so if you want to exchange your home currency for Tanzanian shilling, be on the lookout for signage with this name.
- Cash prevalence in Tanzania: Very prevalent
- Cost to exchange: 5% - 15% on average
Method 2: Credit Card
Although cash is king in Tanzania, credit and debit cards issued by major global providers like VISA and Mastercard are commonly accepted too. If your card is issued by American Express, Diner's Club, or another card company, there's a good chance they'll also be accepted in Tanzania, but we recommend checking with your bank or card provider directly to make sure that Tanzanian shilling currency conversion is indeed supported, and that card machines and ATMs in Tanzania commonly support cards of this type.
- Card prevalence in Tanzania: Very prevalent
- Cost to exchange: 2% - 5% on average
Method 3: Travel Debit Card
Just like credit cards, prepaid debit cards (which are also normally issued by VISA or Mastercard) provide an excellent way to pay while visiting Tanzania, the main difference being that you normally pay lower fees and exchange rates. Depending on where you live, you'll probably have options from your bank or a third-party provider to use a commission-free debit card or a multi-currency card which can help you dodge high Tanzanian shilling conversion costs, including DCCs.
According to our analysis of dozens of providers, the top two options for travelling to Tanzania, in general, are the following:
Revolut
Revolut is an excellent option for paying in Tanzania. Its all-in-one mobile finance app and debit card offer competitive exchange rates to the Tanzanian shilling and low fees. What's more, you can easily manage everything through your money through Revolut's user-friendly app.
- Monthly fee: $0
- Card type: Mastercard debit
- Card payment cost in Tanzanian shilling: 0.5% - 1.5%
- Cash withdrawal fee: 0% - 2%
- Tanzanian shilling balance: No
- Tanzanian shilling bank details: No
Wise Account
The Wise Account is another great option for paying in Tanzanian shilling. It gives you the lowest possible currency exchange rates with complete transparency and no hidden fees. It also allows you to hold and manage over 50 currencies in one account and provides fast and secure cross-border money transfers at a fraction of the cost of traditional banks.
- Monthly fee: $0
- Card type: VISA debit
- Card payment cost in Tanzanian shilling: 0.5% - 1.5%
- Cash withdrawal fee: 0% - 2%
- Tanzanian shilling balance: Yes
- Tanzanian shilling bank details: No
Wise and Revolut are excellent options that are available in many countries around the world. However, depending on where you live, you might have access to better deals still. We go over a few of them below:
United Kingdom
United States
- Chime®: Best all around; no fees for non-USD transactions.
- Revolut: Best all-around spending app.
- Wise: Best for foreign currency spending and holidays.
Canada
- KOHO: No foreign transactions fees on Extra or Everything plan.
- Wise: Best for foreign currency spending and holidays.
European Union
FAQ About Currency in Tanzania
What's the best currency to take to Tanzania?
The best currency to take to Tanzania is the local currency, the Tanzanian shilling. US dollars are also highly exchangeable at local banks and currency exchange offices. However, instead of converting physical banknotes, the cheapest way to pay in Tanzania is to use a multi-currency travel debit card like Revolut or Wise.
Should I exchange my currency before traveling to Tanzania?
Generally, we don't recommend exchanging currency before travelling to Tanzania. Although having some Tanzanian shilling cash on hand can be helpful, we recommend drawing some from an ATM once you've arrived in Tanzania using a prepaid multi-currency card like Revolut to avoid the hidden currency exchange fees.
Is it better to use credit cards or cash when traveling abroad?
It depends on the country you're visiting and the expenses you will have. Credit cards are widely accepted in many countries, including Tanzania, and can offer benefits such as rewards points and fraud protection. However, some places may only accept cash, especially in more rural areas. It's a good idea to have both cash and credit cards on hand and to research the best way to access your money while travelling.
How do I avoid exchange fees when traveling to Tanzania?
The best way to avoid currency exchange fees when travelling to Tanzania is to pay using a multi-currency travel debit card like Revolut or Wise. This way, you can make low-cost conversions to the Tanzanian shilling every time you tap your card or withdraw cash. Other excellent debit cards that don't charge conversion fees include Revolut in the UK and Chime in the US.
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