Photo Creds: WorldAtlas
This article is purely informative, so please excuse the blunt style of writing that will ensue.
We are going to take a look at a couple of different options one has to send money back to Jordan, taking into account new technologies that are making remittance sending easier and faster.
For a price comparison, we will use the example of sending $1000 from the US to Jordan and see how these different services compare.
Disclaimer: The fees and costs shown below are the ones that the GrowHome team found on these companies’ websites. They are definitely subject to change, and we encourage to look into them further before sending your money. We are just presenting different options for you to choose from.
It is also important to note that the Jordanian Dinar (JOD) is currently pegged to the American Dollar (USD) at a rate of 0.708992 JOD per USD. This rate is set in stone and has been for some time. Most of these services make money by changing the exchange rate and keeping the difference, so be wary of the “exchange rates” they offer.
World Remit
This new service is rapidly becoming a big player in the remittances world; its easy to use and the high-tech platform allows money transfers between hundreds of countries, including Jordan.
There are two ways one can send money to Jordan through World Remit.
- Cash pick-up
- Sending $1000 will end up costing you $1014.99
- Cash is typically available in minutes.
- Here is a list of the available pick-up locations. Recipients can pick up their money from Saudi Exchange or Al-Alami bank.
- Maximum is $5,000 per transfer
- What info World Remit needs from your recipient: full legal name, address, mobile number, sending reason, and email (optional)
- What should recipients show when picking up their money: Valid photo ID, Quote “World Remit” and 8 digits transaction reference number sent to recipient and sender by World Remit.
2. Bank Transfer
- Takes 1–3 business days
- Sending $1000 will end up costing you $1014.99
- You can transfer to every major bank in Jordan.
Xoom
Xoom is the service PayPal put in place for international money transfers.
Xoom has a service to send money to Jordan; here’s the info you need to know. You receive the money in JOD, so don’t be surprised by those different calculations.
Cash pick-up
- 63 pick up locations, listed here
- By sending $1,000, you will receive 680.60 JOD
- Money should be available in minutes.
- You can send the money directly from your PayPal account (but it won’t arrive in your recipient’s PayPal account)
XE Money Transfer
- A currency conversion platform that lets you send money abroad through them.
- Only supports bank transfers, no cash pickups.
- One of the best-rated services for security and reliability.
- XE Money Transfer, with 39.75 USD for the transfer fees and a good USD-JOD conversion rate (their current exchange rate is 1 USD = 0.7005 JOD)
- Read a more in-depth analysis on XE money here.
Western Union
- Probably the biggest and best-known one.
- Cash pick up only.
- List of pick-up locations in Amman.
- They also have many other pick-up locations in other cities, click this link to find the ones in the city you’re sending to.
- Send $1,000, receive 651.50 JOD
- Send up to $5,000
- You can also deposit cash at a Western Union store in the US instead of sending it online. Not possible with World Remit or Xoom.
MoneyGram
- Cash pick-up only; once again, here’s a list of pick-up locations in Amman. You can refine your search to find out pick-up locations in the city you’re sending money to.
- For $1,000 sent, $14.99 fee for sending through debit/credit card, and $4.99 fee for sending directly through a bank account.
Ria Money Transfer
- Send $1,000 receive 702.40 JOD, but fees might also apply.
- Only cash pick-ups.
- Daily limit of $2,999.99. Depends on which US State you’re sending from.
- More information on Ria. Written by one of their competitors, TransferWise, but still good information.
Bonus
If you want to compare different international money transfer services, whether it be for sending money to Jordan or elsewhere, check out Monito. They provide in-depth and useful reviews of all the major international money transfer providers.
We hope this article was useful to you. If you have any comments, or any other suggestions that our readers might find useful, please feel free to include them in the comments!
Who are we?
GrowHome is a platform connecting diasporas to entrepreneurs back home. On GrowHome, diasporas can collaborate, mentor, and fund entrepreneurs carrying out the real change in their home countries. We empower diasporas to have a real impact by contributing the financial and intellectual resources they’ve learned abroad to innovators back home.
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