Top 10 Cheapest Ways To Transfer Money From South Africa To UK (2023)

There are usually reasons to transfer money from one country to another. Nevertheless, it is a big deal to many people due to the huge fees and stress attached. But it doesn’t have to be so. There are now several cool ways to transfer money beyond borders. Technology has indeed promoted effectiveness and efficiency.

There are actually several ways to transfer money from South Africa to UK. Some of which are not too recommended – because of the high commission fees usually paid (and even the stress). In this article, however, I explore ten cheap ways to transfer money from South Africa to UK. Let’s get started:

Cheapest Ways To Transfer Money From South Africa To UK

1. Wise (formerly Transferwise)

It is believed that Wise offered a platform that not only made it easy to send money abroad but is one of the cheapest out there. Made by the folks that created Skype, you can make use of Wise to transfer money from South Africa to the United Kingdom. You should ensure to have a checking account in the UK, where you’re sending money.

It should be noted that the conversion rates the service uses are the official exchange rates that Google states. This means you will be working with official rates. Before opting for a transfer service, one of the things you should note is their conversion rate. But it’s cool with Wise, as you will get the best rate possible. The money being transferred with Wise will be in the destination account in 2-3 days.

2. Xe

Similar to Wise, this is also a popular platform for international transfers, which can be utilized to transfer money to someone in the UK from South Africa. Their website is even used to search for the exchange rate between any two currencies you desire. Meaning, you can do this with the Rand and Pounds before doing your transfer. Quite simple.

It should be added too that to calculate the cost of the transfer, one will have to first to open a free account with Xe.

3. CurrencyFair

 If you are familiar with Wise, then you should have no issues with CurrencyFair, as they operate similarly. You can opt for this platform to send money to the UK without bothering about paying much commission fees – it is pretty cheap (the platform simply charges around 0.35% of the total value).

4. Azimo

Here is another superb way you can make use of to transfer money from South Africa to UK. It can be used via the internet, easily through its phone app. Azimo is a big company that is rated excellent by many users. They are active in so many countries around the world.

If you want the person in the UK to receive the money as quickly as possible, in less than one hour, you should use this service then. They also work 24 hours a day, 7 days a week. 

5. TransferGo

 The company is one of the most popular money transfer companies you can see around. They have a reputation in this sector, are available in over 50 countries, and can be recommended too. Their platform gives you a variety of transfer options and fees. As a sender, you can power the transfer via a debit card or credit card, or from your bank account.

With TransferGo, you can also make quick transfers that will go through in less than 30 minutes. This is one of the areas that gives TransferGo an edge over several other options out there. It should also be noted that they offer economical transfers, with lower rates too. As you will see when you use the platform, everything is just very simple

6. WorldRemit

You should have probably come across WorldRemit before now. It is another huge company with a platform that can be used to transfer money from overseas. Their service is available in over 150 countries in different places in the world and you can make use of their system to make your transfer easily.

One of the things that should be noted about WorldRemit is that they work with low service and exchange rates. This is one of the advantages attached with innovative companies of this sort in this sector. You can send money to the UK without headaches, easily done without paying too much in commission.

7. PayPal

Let’s assume you are just coming across all the platforms above. It is however very unlikely that you are not aware of what Paypal is and represents. The platform is actually one of the most popular ways to make online payments, and it has been around for many years. But it’s not just all about this alone. People also make use of PayPal to send and receive money. Hence, we place the platform just here.

If you want to transfer money to the UK from South Africa, you can do so with PayPal too. PayPal is fast and secured too. 

8. Bitcoin

You can also use Bitcoin (or just any digital currencies you can use) to send money to the UK from South Africa. Bitcoin has been out there for some time now and is getting more accepted and famous. Using digital currencies to transfer money overseas comes with several advantages that have made things more effective and efficient. You don’t have to spend too much in commission fees, and you don’t have to wait for too long before seeing your transfer successful.

You can take advantage of trusted platforms like Binance and Coinbase to get digital currencies like Bitcoin. It is easy to sign up and get it done. Even if you are receiving these digital currencies in the UK, you can always easily convert them to local currency. 

9. Western Union

While there are now several other ways to transfer money from South Africa to UK with much ease, some people are still comfortable with the traditional Western Union. Hence, we have to highlight that you can actually still send money overseas with Western Union and still have a good experience doing so. 

Western Union has been around for many years now and is reputable too. The company has many agents around the world and are in partnership with tons of financial institutions. You can easily send and receive money to and from far distances, as far as it is done correctly. 

10. MoneyGram

If Western Union is here, then so be MoneyGram. MoneyGram is also traditional quite alright, it has the reputation and is very popular too. Many customers are comfortable with platforms and companies like MoneyGram, and that’s fine. You can also use MoneyGram to transfer money overseas, and it is one of the options for you if you want to send money to the UK from South Africa.

Related:

• How To Send Money From South Africa To Nigeria
• Best Ways Of Receiving Money From Overseas In South Africa
• How To Reverse EFT Payment On FNB

In conclusion, it is advisable that you avoid using banks when making attempts to transfer money overseas. To avoid spending too much, you should use any of the innovative platforms out there right now, and you should have a smooth experience in the process. While there are several platforms already that can do the job, you can start with any of the ones above on the list, since they already have big reputation and are safe to use too.