Send Money to Guinea Bissau

Western Union
Margin Rate: 4%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
CurrencyFair
Margin Rate: 2%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
VoltrexFX
Margin Rate: 0.7%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
RationalFX
Margin Rate: 0.7%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated

Countries in Guinea Bissau

Send Money Transfer to Guinea Bissau

There are currently no restrictions in place limiting international money transfers to or from Guinea Bissau with the exception of a limit on cash withdrawals. The Guinean Bissau Franc (CFA) can in theory be freely converted to any foreign currency. The banking sector of Guinea Bissau is underdeveloped and fees are high. It is estimated that only 2% of the population has a bank account but if you are transferring funds to an individual with an account the wire transfer method is available. Only 25% of money in circulation is said to pass through the banking system.

If you want to send cash without using your bank account or if you do not have one yet, you can opt for a worldwide money transfer service via a Money Sending Bureau. These establishments are found in major cities around the world and can be found in Guinea Bissau. With this option however you will need to pay a significant commission on the transfer and it is worth looking around as fees can vary between just a few percent as high as 15% of the sum being sent. These institutions also often comparatively poor exchange rates so again the total costs need to be considered.

The procedure is however relatively simple: You take the money you would like to transfer to an office in cash. You have to fill in a form, pay the service fee, and show a valid ID. Alternatively, you can process your money transfer online. Once this procedure is done, the recipient can pick up the money at another office simply by showing his or her own ID. With the transaction number you receive, you can track the status of your transfer online.

Bank Note System
Guinea Bissau Franc (XOF) Banknotes: 500, 1000, 2000, 5000, 10000 Francs

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