Cheapest way to send money from the eurozone to Senegal

FXMetrics editorial team · Updated · How we calculate

Euro senders in France, Spain, Italy, Germany and elsewhere can choose between banks, licensed money transfer operators and apps, and the exchange rate offered varies more than the headline fee. Below: what your recipient actually gets for 500 EUR, at today's mid-market rate.

Loading today's mid-market rate…

ProviderRecipient getsTotal costSpeedSite

Mid-market rates from the European Central Bank (via the Frankfurter API); currencies the ECB does not cover use ExchangeRate-API. Provider fees and markups are estimates from public pricing; always check the final quote. Methodology · Share this result

Payout options
Mobile money (Wave, Orange Money), bank accounts and cash pickup
Typical speed
Minutes to 2 business days (digital); 2–5 business days (bank wire)
Regulation in the eurozone
PSD2, authorised in a member state
Rate benchmark
ExchangeRate-API (not published by the ECB)

Who sends money from the eurozone to Senegal

Common senders: long-settled diaspora families, seasonal and care workers, students, and people supporting parents back home.

About this corridor

Senegalese communities in France, Italy and Spain send money that families receive mostly through Wave or Orange Money. Because the CFA franc is pegged to the euro at a fixed 655.957, this is one of the few corridors where you can see a provider's exchange-rate margin at a glance.

Worked example: sending 500 EUR

Using the ExchangeRate-API rate on 2026-10-08, 1 EUR = 655.96 XOF, our estimate model gives these results for sending 500 EUR:

ProviderEst. feeEst. receivedTotal cost vs mid-market
Wise3.89 EUR325,425 XOF2,554 XOF
Revolut1.50 EUR325,360 XOF2,619 XOF
Remitly0.00 EUR324,043 XOF3,936 XOF
Western Union4.46 EUR318,549 XOF9,430 XOF
Bank wire (typical)17.86 EUR308,357 XOF19,621 XOF

In this example Wise delivers roughly 17,068 XOF more than a typical bank wire. Rates move daily and providers change pricing, so treat this as an illustration from our model; the live calculator above and the provider's own quote are what count. See how we estimate.

Sending to Senegal: what to know

  • Payout options: mobile money (Wave, Orange Money), bank accounts and cash pickup.
  • Mobile money is how most families in Senegal receive money.
  • The CFA franc is pegged to the euro at 655.957 XOF per EUR, so any rate below that is the provider's margin.

Rules and limits

In the eurozone: EU payment institutions are regulated under PSD2 and must be authorised in a member state. SEPA makes transfers inside Europe cheap, but payments to China go via SWIFT or a provider's local payout network.

In Senegal: Payment services across the West African Economic and Monetary Union are regulated by the BCEAO (Central Bank of West African States).

How to pick the cheapest option

  1. Compare the amount received, not the fee. "Zero fee" offers usually hide their cost in the rate. How markups work.
  2. Small amounts: watch fixed fees. Large amounts: watch the markup.
  3. Avoid intermediary deductions. SWIFT wires can lose $10–30 in transit. Why.

Frequently asked questions

What is the cheapest way to send money from the eurozone to Senegal?

It depends on the amount and the day's pricing. This page calculates, at today's mid-market rate, how much XOF each provider delivers for 500 EUR; the top row is currently the cheapest by our estimate.

How much more does a bank wire cost for 500 EUR?

Using the reference rate on 2026-10-08, our model puts the gap at about 17,068 XOF versus the cheapest option. Rates and pricing change daily.

How can my recipient in Senegal receive the money?

Common payout options are mobile money (Wave, Orange Money), bank accounts and cash pickup. Availability differs by provider, so check before you send.

How long does it take?

Digital services usually take minutes to 1–2 business days; bank wires often take 2–5 business days.

Sources

Official pages checked on