You might need to send money to Botswana to transfer your pension or salary payments; maybe you need to send pula to cover instalments on a property purchase, or perhaps you just want to send money to friends and family in Botswana.
Whatever your reasons for doing so, it is well worth researching how you will send money to Botswana.
You have three main options: Banks, foreign exchange brokers and Money Sending Bureaus.
Money Sending Bureaus can be useful if your recipient in Botswana does not have access to a bank account.
But the per-transfer fees imposed by these establishments - sometimes as much as 15 per cent - can make this an unnecessarily costly way to send pula to Botswana.
You might want to enquire with your local bank regarding their money transfer services.
Unfortunately, banks also tend to impose per-transfer fees, but these are unlikely to be as high as those of the bureaus.
However, if you want to avoid these all together then a foreign exchange broker could be the best way for you to send money to Botswana.
RationalFX can guarantee you a low fee service when you send money to Botswana with us.
We also have a great currency exchange rate available on the pula and while this will not be the market rate, it is one of the most competitive available to consumers.