Send Money to Somalia

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 Somalia

Send Money Transfer to Somalia

Transfers to Somalia are heavily restricted. Most banks have pulled out over terrorism and money laundering concerns. Barclays which had been the main conduit of money transfer pulled out in 2014 effectively ending the ability to transfer money to the country. Transfers from the US were possible thanks to a small number of operating systems but Barclay’s withdrawal has threatened these too. Barclays has launched its own money transfer service in partnership with Western Union but it has only one branch in the country. Most Somalians rely on the black market and unregulated Hawalas.

Bank Note System
Banknotes: 5, 10, 20, 50, 100, 500, 1000 Somali Shillings

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