7 Best International Money Transfer Apps in Ethiopia

Thanks to digital remittance apps and services, sending money internationally has never been faster and easier. If you plan to send money to Ethiopia, you have many international money transfer services. 

In this guide, we’ll cover 7 of the best international money transfer apps in Ethiopia. Each remittance service has its features and strengths, which you must consider before settling on one. 

Ideally, consider factors like the transfer cost, app availability, and transfer speed.

The Best International Money Transfer Apps in Ethiopia

Here are the top 7 best ways to transfer money internationally, which you should consider for your transfers to Ethiopia. 

1. Remitly

This popular platform is considered by many to be the best money transfer app in terms of speed and convenience. Remitly is known to provide fast and secure transfers to more than 145 countries worldwide.

Remitly gives you various collection methods, including home delivery, cash pickup, bank transfer, or mobile money. The availability of these methods depends on the country you’re sending the money to, so ensure you confirm before choosing one. 

Each collection method has its advantages, so your choice depends on your needs at the time. Typically, bank transfers take relatively longer to process but are better for sending large sums of money. 

Remitly also offers different payment methods, including bank transfer or debit/credit card. Paying via credit or debit card is relatively faster, which is great for when the money is needed urgently. 

Another feature of the Remitly app is that it lets you see live exchange rates and set alerts to help you take advantage of great rates. You can also track your transfers and communicate with customer support in several languages through the app. 

The fees charged for international transfers will depend on the currency and country. The payment method, collection method, and speed of delivery are also considered when determining the fees to be paid. 

Remitly’s competitive exchange rates and low fees make it one of the cheapest ways to transfer money to Ethiopia and many other countries. 

2. Western Union

Western Union is one of the pioneer legacy platforms and is still a solid choice for making international transfers. As one of the big names in the remittance industry, Western Union has a vast network of agents in over 200 countries and territories. 

Depending on the destination, Western Union allows you to send money via bank deposit, cash pickup, or mobile money transfer. You can fund the transaction via bank transfer or credit/debit card. 

Western Union has both physical agent locations and a convenient app you can use to set up transactions from wherever you are. With the app, you can also view live exchange rates, the applicable transfer fees, and the estimated delivery time before you complete the transaction. 

Western Union allows you to start the transfer on the app, lock in the exchange rate, and pay for the transaction in cash at an agent location. Moreover, you can track your transfers from the app, set up repeat payments for convenience, and even make international bill payments. 

As one of the longest-serving international money transfer services, Western Union is a reliable partner for all your remittance needs. 

3. Wise

Wise is one of the most affordable ways to send money internationally. One of the app's best features is it allows you to manage over 40 different currencies in one account. 

You can download the Wise app from the App Store or the Google Play Store. Registering for an account is a quick and simple process that should take a few minutes to complete. You’ll be asked to provide your details plus some documents for verification before your request is accepted. 

Once you have a functional account, you can use the Wise app to send and convert between currencies conveniently. With the Wise app, you can make transfers to over 80 countries, including Ethiopia. 

Wise’s mid-market exchange rate and relatively low and transparent fees make it one of the most affordable digital remittance services. There are no hidden costs. You can review everything before finalizing the transaction. 

The Wise app keeps you updated with estimated arrival times and notifications so you can track your transfers. 

4. TransferGo

TransferGo is another top choice for sending money to Ethiopia and several other countries. It is an affordable and reliable platform that facilitates the transfer of billions of dollars every year. 

TransferGo offers very competitive pricing, although it does charge exchange rate fees, unlike some digital remittance services. The platform also has an easy-to-navigate app you can use to make transactions conveniently. 

Moreover, aside from digital remittance, TransferGo offers services for other money-related needs such as paying bills, covering emergencies, paying rent or mortgage, or paying business suppliers. 

TransferGo has a transparent fee structure that you can review before making any transaction. First, it charges a flat fee that depends on how fast you want the money delivered. Secondly, TransferGo charges a margin of between 0.2% to 2.2% on top of the mid-market rate. 

You can sign up for a TransferGo account by providing the following details:

• Full name
• Mobile phone number
• Email address
• Nationality
• Date of birth
• Physical address

Ensure you provide accurate information to avoid unnecessary delays. For instance, the bank account or card information you add later should match your residency address. Once your TransferGo account is up and running, you can set up your transfer by following the prompts on the dashboard.

If your first transfer exceeds £900 or its equivalent in any other currency, you must verify your identity by providing documents like a national ID card, passport, or driver’s license. 

5. XE Money Transfer

You can also choose XE to make direct deposits to your recipient’s bank account. This platform facilitates international money transfers to over 200 countries and territories globally. 

It’s important to familiarize yourself with the fees charged before choosing XE as your transfer method. XE’s transfer fees depend on how you’re paying for the transfer, plus a markup added to the mid-market rate. 

To arrange a transfer, you’ll first send your payment to XE using your debit or credit card or via wire transfer. XE then passes the money on, after changing it to the local currency, to your recipient. 

When the transaction is confirmed, XE shows you the estimated delivery time. Most transactions are completed on the same day XE receives the money from your bank. As such, you must always factor in the time it takes for the money to be sent from your bank to XE, which will depend on your bank’s speed. 

You can set up your XE account online and verify your identity by providing identification documents. Once your account is active, you can start making transfers immediately. You can use the XE app to track your transfers. 

6. Paysend

Paysend is a UK-based international money transfer platform that was launched in 2017. It facilitates fast and affordable remittance services for both individuals and businesses. You can sign up for a free Paysend account and make your first transfer within minutes. 

While the platform is based in the UK, it offers transfers to more than 100 countries across the globe. It offers various transfer methods and charges fixed, transparent fees displayed upfront. Paysend is also known for its speed, with some transfers arriving instantly depending on the transfer method. 

Aside from the upfront fee charged for the transfer, Paysend also adds a margin to the mid-market exchange rate. The app shows you all these fees upfront so you can review everything before confirming the transfer. 

You can send money via Paysend through their website or by downloading the Paysend app. In both cases, you’ll have to create your account first, which is a simple process that takes a few minutes. 

In most cases, Paysend transfers are delivered to your recipient instantly, but it can take up to 3 business days for the money to arrive. 

7. WorldRemit

WorldRemit is a fast, secure, and affordable way to make international money transfers to over 150 countries worldwide. It’s one of the best digital remittance platforms, especially for sending small sums to friends and family. 

WorldRemit has no transfer minimums and offers various delivery methods, including bank transfer, mobile money transfer, cash pickup, and even airtime top-ups. You can make these transfers through the WorldRemit website or mobile app. 

The platform adds a markup to the mid-market exchange rate, but it charges relatively low fees, and you can review all the costs upfront before making the transfer. Moreover, the app employs cutting-edge technology security measures to protect your money. 

With the exceptional services offered by the platform, you can count on WorldRemit for your international money transfer needs. 

Given the sheer number of international money transfer services available, it can be overwhelming to pick one. Hopefully, this list of the 7 best international money transfer apps in Ethiopia has helped narrow down your search. 

It’s beneficial to compare your options by looking at factors like speed, convenience, and related fees. This way, you get the best value for your money. Use Monito’s real-time comparison engine to compare your options: