The best way to transfer money in Ethiopia is by online money transfer services, it is fast and very simple, it is the leading in payment security, it can be done in a smartphone, tablet or a computer.
Types of options to send MoneyBank transfer-Sending money in Ethiopia can be done via banks, Ethiopian banks can safely transfer your funds to any specific place you desire with certain transfer charges Online money transfer services-its better than the banks they offer affordable transfers, this can be easily and quickly done at home. Providers with cash pickups- There are certain trusted funds providers i.e western union and money gram they receive money online and give cash to your recipient. It always costs more than the online transfer varying from where you are transferring from. Paypal transfers-In Ethiopia and many countries currently many use paypal to transact funds, paypal transfer rates are better than those of the banks they are done online where money is sent using a transfer wire to your paypal account. International money order-it costs little higher than electronic funds transfer.
Restrictions on receiving money. There are regulations that do not permit foreign payments of goods that are harmful to human consumption. Non residents of Ethiopia are allowed to open accounts but with limited amount be deposited. There is no Ethiopian resident allowed to have a foreign bank account without the authorization of the Ethiopian national bank
Process to sent money. Look for any participating western union agent location that is nearby. complete the form you are given filling in the required questions and choose the pick up cash. Give the agent the form you filled and the amount you are to transfer. keep safe the receipt given
Economic trend of Ethiopia. With a population of 99.4 million and a population growth of 2.5% in the year 2015 Ethiopia's GDP trend has grown, the current GDP is 619.14USD, the GDP growth is 11.20% per annum, during year 2003/2004 and the year 2008/2009 period, placing Ethiopia among the best performing economies in Africa.
Their main bank is the National Bank of Ethiopia.
Get funds to your recipients in Ethiopia? To ensure that your recipients get their money quickly and without any hassle it makes sense to choose an online transfer. When you do this you will be assured that your money transfer to Ethiopia will go smoothly and that the funds will reach your recipient instantly. This is much faster than waiting for a bank to process a bank to bank transfer, which was a person's only safe option to send a friend or loved one in Ethiopia money, up until a few years ago.
Take advantage of a currency converter for Ethiopia
Not only will you feel safe in the knowledge that your transaction will go smoothly when you use an online exchange broker you can also take advantage of a free currency converter. You can use this to see the currency rate Ethiopia currency is adhering to. Ethiopia uses the Birr as their unit of currency and up until 1979 this was called the Ethiopian dollar. So when it comes to checking the rate of exchange on any given day looks for the Ethiopian Birr.
Transfer any time to Ethiopia
Another advantage of using an online exchange broker is that you can transfer money to Ethiopia at any time. There is no waiting for a bank or other financial institution to open. You can just go online and log into your account and arrange your exchange in just a few minutes. Even if you need to transfer money in the middle of the night it is possible using this method.