Senegal is one of West Africa’s leading remittance recipient countries, driven by a large diaspora in France, Italy, Spain and the United States. Sending money to Dakar, Thiès, Touba or Saint-Louis has become simple and fast thanks to online services and mobile money, but fees and exchange rates vary significantly from one provider to another. Here is a data-driven comparison, based on official fee schedules and World Bank data, for sending money to Senegal in 2026.
Key point: the West African CFA franc (XOF) is pegged to the euro at the fixed rate of 1 € = 655.957 XOF. For a transfer denominated in euros from the euro zone, there is therefore no exchange rate risk: what truly differentiates services are the fixed fees, any margin on the rate, and the time it takes for funds to become available.
The CFA franc (XOF), a currency pegged to the euro
The CFA franc used in Senegal is issued by the Central Bank of West African States (BCEAO) and pegged to the euro at the fixed rate of 655.957 XOF per 1 €, guaranteed by the French Treasury. In practice, a transfer of 500 € mechanically corresponds to 327,978.50 XOF at the official rate. A good provider should display a rate close to this parity; a significant deviation from 655.957 reveals a hidden exchange margin built into the displayed rate.
Also worth noting: since late 2025, Senegal has applied a tax on mobile money transfers, the TTA (taxe sur les transferts d’argent), at a rate of 0.5% of the transaction amount, capped at 2,000 FCFA per transaction. Created by law n°2025-17 of 27 September 2025, it is collected by the mobile money operator on transfers, payments and withdrawals. It is added on top of the operator’s fees and also applies to transfers received into a mobile wallet.
Comparison table of services (2026)
| Service | Indicative fees | Delivery time | Receiving method |
|---|---|---|---|
| Remitly | Mobile wallet: 1.90 € · Bank deposit: 3.90 € · Cash pickup: 3.90 € · first transfer free | Minutes (mobile wallet) to 3-5 business days (bank deposit) | Wave, Orange Money, bank deposit, cash pickup, Poste Finance |
| WorldRemit | ≈ 6.99 € (sending 200 €) to ≈ 9.99 € (sending 500 €); total cost ≈ 4.91% to 2.81% | ≈ 90% of transfers in a few minutes; bank deposit in 1-2 business days | Mobile wallet, bank deposit (XOF), cash pickup |
| Western Union | First transfer free; transfers to Wave < 1 € thereafter; no currency conversion fees | Minutes (cash pickup or wallet); 1-5 business days (bank account) | Cash pickup, bank account, Wave wallet |
| Wave (mobile money) | Send: 1% capped at 5,000 FCFA; receiving and cash withdrawal free (+ TTA 0.5% capped at 2,000 FCFA) | Instant (Wave wallet) | Wave wallet |
| Bank (SWIFT transfer) | ≈ 12.50 € to 25 € sending fee + exchange margin + receiving fees (≈ 10-20 €) | 2-5 business days | Bank account transfer |
| Taptap Send | 2.00 € from France · welcome bonus on first transfer | Minutes | Orange Money, Wave, Wizall/Proximo, bank withdrawal |
| LemFi | 0 € transfer fees · competitive rate | Minutes | Mobile money, bank account |
| Paysend | Fixed fees (≈ 1.50-1.99 €) · first transfer fee-free via referral | Minutes | Debit card, bank account, mobile wallet |
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Great deal — LemFi: send money to Senegal with LemFi, zero transfer fees and a competitive rate, received in minutes via mobile money. New users: enter code AXELF3HH when signing up to receive the welcome bonus.
Great deal — Paysend: send money to Senegal with Paysend, fixed fees and real-time exchange rate. Your first transfer is fee-free via the referral link below.
Remitly: the simplest option for mobile money
Remitly applies a displayed rate of 1 EUR = 655.96 XOF on the France → Senegal corridor, very close to the official parity. Fees depend on the delivery method: 1.90 € to a mobile wallet, 3.90 € to a bank deposit or cash pickup. The first transfer is free for new customers. On the receiving end, Remitly delivers to Wave, Orange Money, a bank account deposit, cash pickup, or a Poste Finance point. Delivery to a mobile wallet is near-instant, while a bank deposit can take three to five business days depending on the option chosen.
WorldRemit: fixed fees displayed upfront
WorldRemit offers transfers to Senegal at a displayed rate of 1 EUR = 655.96 XOF. According to the World Bank’s Remittance Prices Worldwide database (France → Senegal corridor), a transfer of 200 € shows fees of approximately 6.99 €, representing a total cost of 4.91% of the amount sent; for 500 €, fees rise to approximately 9.99 €, or 2.81% of the amount. The total cost therefore decreases proportionally as the amount sent increases. WorldRemit states that 90% of transfers to Senegal are transmitted to its local partners within a few minutes, and that a bank account deposit is generally credited within one to two business days. Bank account transfers are processed in XOF only.
Western Union: a large branch network and offers to Wave
Western Union covers Senegal through a branch network for cash pickup, bank account deposits, and the Wave wallet. On the France → Senegal corridor, Western Union does not apply currency conversion fees: its revenue comes from the exchange rate, which remains an estimated rate displayed before sending. The first transfer is free, and transfers to a Wave wallet cost less than 1 € from the second transfer onward. Cash pickup or delivery to a mobile wallet can be completed within minutes; a bank account deposit generally takes one to five business days. As a reference point, on the United Kingdom → Senegal corridor, Western Union displayed a rate of 1 GBP = 755.6573 XOF.
Wave, Orange Money and Free Money: local mobile money
Wave is the dominant mobile money service in Senegal. Its fee structure is straightforward: sending money costs 1% of the amount, capped at 5,000 FCFA, receiving is free, and cash withdrawal at an agent is free. It is this free withdrawal policy that forced established operators to lower their prices. For comparison, Orange Money applies a transfer fee of 0.8% and a bank-to-wallet transfer fee of 0.8% capped at 500 FCFA, while Free Money rounds out the local offering. However, bear in mind that the TTA of 0.5% (capped at 2,000 FCFA) applies to mobile money transactions, including received transfers. In practice, receiving an international transfer directly into a Wave or Orange Money wallet remains free for the recipient, who only pays the tax where applicable.
Bank transfer (SWIFT): reliable but more expensive
Sending money to a Senegalese bank account via a SWIFT transfer remains a safe option, but generally the most expensive. French banks charge sending fees of approximately 12.50 € (CCF) to 25 € (BforBank), to which are added an exchange commission and a margin on the exchange rate, followed by receiving fees charged by the Senegalese bank, often in the range of 10 to 20 €. The transfer time is generally two to five business days. A SWIFT transfer is most justified for large amounts where mobile money reaches its limits, or when a bank receipt is required.
How to choose the right service?
- Small amount to a loved one (≤ 500 €): favour delivery to a mobile wallet (Wave or Orange Money), the cheapest option with Remitly (1.90 €) and often free on the first transfer.
- Cash pickup required: compare Western Union (dense branch network, first transfer free) and Remitly (3.90 €).
- Large amount to a bank account: bank deposit via Remitly or WorldRemit (XOF) is cheaper than a standard SWIFT transfer, which accumulates sending fees, exchange margin and receiving fees.
- Urgent transfer: mobile wallets (Wave, Orange Money) and cash pickup offer availability within a few minutes.
- Check the rate before sending: with a fixed parity of 655.957 XOF per 1 €, any displayed rate significantly below this signals an exchange margin; compare the final amount received in XOF, not just the displayed fees.
Frequently asked questions
Which is the cheapest service for sending money to Senegal?
For a transfer to a mobile wallet, Remitly is often the cheapest at 1.90 € in fees (and free on the first transfer). WorldRemit displays fees of approximately 6.99 € for 200 € and 9.99 € for 500 €. A SWIFT bank transfer is generally the most expensive, as it combines sending fees (≈ 12.50-25 €), an exchange margin and receiving fees.
How long does it take for money to arrive in Senegal?
To a Wave or Orange Money wallet, money arrives within a few minutes. Cash pickup at Western Union or Remitly can also be available within minutes. A bank account deposit generally takes one to five business days, and a SWIFT transfer two to five business days.
What exchange rate applies for euros to the CFA franc (XOF)?
The CFA franc (XOF) is pegged to the euro at the fixed rate of 655.957 XOF per 1 €. Operators such as Remitly and WorldRemit display a rate close to this (655.96 XOF). Western Union applies an estimated rate displayed before sending with no separate conversion fees. A TTA tax of 0.5% (capped at 2,000 FCFA) additionally applies to mobile money transactions in Senegal.
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