Mukuru money transfer (UK): fees and how to send money

Want to send money to Africa or Asia? It could be slow and expensive using your bank, so an online money transfer service could be a better alternative.

One of the options available is Mukuru, a remittance company which specialises in transfers to Africa. It was founded in the UK in 2004, but has partnerships all over the world and operates in more than 50 countries.¹

But is it the right option for you? Find out everything you need to know about Mukuru money transfer here in this handy guide. We’ll put the provider through its paces on fees and exchange rates, currencies and countries, transfer limits and security.

We’ll also throw in an alternative - a financial services provider Wise. You can send money to Africa with Wise for low fees and at the mid-market exchange rate, which could potentially save you some cash.

Learn more about sending money to Africa with Wise

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

What is Mukuru money transfer?

Mukuru works similarly to other online money transfer services. Once you’ve signed up for an account, there are two ways you can use Mukuru to send money. The first is the secure Mukuru website, while the second is a dedicated mobile app (available for both Android and Apple devices).

You can send a payment to a recipient’s bank account or mobile wallet, depending on availability in the country you’re sending to.

But you can also send cash for instant collection, which is one of the main reasons that people use Mukuru. It’s convenient, super fast and very useful if you’re sending to someone who doesn’t have a bank account.

What currencies Mukuru supports?

Mukuru supports transfers to around 30 countries throughout Africa and Asia.² Let’s take a look at the full list of supported countries and currencies:

Country	Currency
Bangladesh	Bangladeshi taka (BDT)
Botswana	Botswana pula (BW)
Cameroon	Central African CFA franc (XAF)
China	Chinese yuan (CNY)
Côte d'Ivoire	West African CFA franc (XOF)
DR Congo	US dollar (USD)
Eswatini	Swazi lilangeni (SZL)
Ethiopia	Ethiopian birr (ETB)
Germany	Euro (EUR)
Ghana	Ghanaian cedi (GHS)
Hungary	Euro (EUR)
India	Indian rupee (INR)
Ireland	Euro (EUR)
Italy	Euro (EUR)
Kenya	Kenyan shilling (KES)
Lesotho	Lesotho loti (LSL)
Lithuania	Euro (EUR)
Malawi	Malawian kwacha (MWK)
Mozambique	Mozambican metical (MZN)
Nigeria	US dollar (USD)
Poland	Euro (EUR)
Portugal	Euro (EUR)
Romania	Euro (EUR)
Rwanda	Rwandan Franc (RWF)
South Africa	South African rand (ZAR)
Tanzania	Tanzanian shilling (TZS)
Uganda	Ugandan shilling (UGX)
Zambia	Zambian kwacha (ZMW)
Zimbabwe	US dollar (USD)

How to send money with Mukuru from the UK?

It’s pretty easy to use Mukuru to send money from the UK. The first step is to sign up for an account, which you can do on the Mukuru website as long as you’re a UK citizen/resident over the age of 18.

There are three different account types, each with their own requirements. These are:³

• Lite - sign up with just your name, mobile number and identity number
• Core - provide the above, along with proof of ID and address
• Max - provide the above, plus proof of the source of funds (such as recent bank statements).

The benefit of choosing Core or Max is that you’ll be able to increase your transfer limits - we’ll look at that in a moment.

Once you’re signed up, you can send money on the Mukuru website or by downloading the mobile app. You’ll need a few key details, such as the recipient’s bank details or nearest cash collection location.

Mukuru works with payout partners in multiple countries, including banks, mobile phone companies and financial services providers. Find out more about how to receive money with Mukuru here.

Are there any transfer limits with Mukuru?

Mukuru does have some transfer limits. It all depends what account type you’ve signed up for.

The basic Lite account has the lowest limits, with Max the highest (as you’d guess from the name). The more information you can provide to verify your identity, address and source of funds, the more you’ll be able to send. This is likely due to government regulations about sending money.

Let’s take a look at the limits for each account type:

• Lite - send a maximum of £600 a month
• Core - send a maximum of £4,000 a month
• Max - send more than £4,000 a month.

Is it safe to transfer money with Mukuru?

It’s always important to check out security features before sending money internationally, especially when you’re doing it online. You need to make sure your money, details and transfers are protected.

The good news is that Mukuru seems to take safety seriously. For starters, the company is regulated by the Financial Conduct Authority (FCA) in the UK.

It also uses something known as Safeguarding to protect your money. This means it keeps your money in accounts that are completely separate to its own business accounts. These accounts are held with trusted UK banks.⁴

Mukuru also uses a range of security measures, such as 3D Secure authentication for debit/credit card payments.⁴

It’s also important that you take steps to keep yourself safe when sending money online. Avoid sending to anyone you don’t know, and report anything suspicious to the service provider as soon as you spot it. It’s also a good idea to choose a secure password for your account, and avoid sharing it with anyone.

Fees and rates for sending money with Mukuru

Now we come to the important part - how much does it cost to send money with Mukuru?

There are two key things to consider, the upfront transfer fee and the exchange rate. It’s easy to focus solely on the fee, but the exchange rate is just as crucial. It can make a bigger difference to the overall cost of the transfer than you may realise.

Let’s take a look at how Mukuru stacks up on both fees and rates.

Transfer fees

Like many other providers, Mukuru charges you an upfront transfer fee to send money to Africa or Asia.

This fee varies depending on a few factors, such as where you’re sending to, the currency and the amount. The delivery method, such as bank transfer, mobile top up or cash collection, will also influence the cost.

To give you an idea of the cost, here are a few example fees live on the Mukuru website right now:⁵

Amount and destination	Delivery method	Transfer fee
Send £100 to Ghana	MTN top-up	£0.99
Send £250 to India	Cash collection	£4.99
Send £500 to South Africa (ZAR)	Bank top-up	£6.89

• Fees correct as of 06.06.23

Another great feature of the Mukuru website and app is that you can check the fees for your transfer at any time.

Simply go to the Check Rates page and enter the destination, along with the amount you want to send and delivery method (choose from a list of available options). You’ll see the fee and the live exchange rate too.

Exchange rate

As we’ve mentioned, the exchange rate really matters when sending money internationally. Your pounds will need to be converted to the local currency, and the rate determines how much of your money actually reaches the recipient.

Many remittance companies such as Mukuru are likely to add a margin onto what is known as the mid-market exchange rate (also called the interbank rate). This is thought of as one of the fairest rates you can get.

By adding their own margin onto this rate, Mukuru can make money from the transfer. But unfortunately, it makes it more expensive for you. More money is lost in currency conversion, and your recipient gets less (or you have to send more so that they receive the intended amount).

Not every provider adds this margin to the rate though. Send money to Africa, Asia or worldwide with Wise and you’re guaranteed the mid-market rate, every time. There are no markups, hidden charges or monthly subscription fees.

Just like with Mukuru, you’ll see the fee and the rate upfront with Wise, so you’ll know exactly how much the transfer will cost before going ahead.

And if you’re jetting off abroad any time soon, there’s even a Wise card for convenient, low-cost spending abroad, including in many African and Asian nations.

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees. Country restrictions apply.See countries where the Wise Card is supported.

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And that’s pretty much it - all the essentials you need to know about sending money with Mukuru money transfer in the UK. We’ve covered everything from fees and exchange rates to countries, currencies and transfer limits.

Mukuru is a great option for making fast cash payments or mobile top ups to Africa, Asia and Europe too. You can use the Mukuru website or its dedicated mobile app, whichever works best for you.

Just make sure to compare those fees and exchange rates carefully, as there could be a cheaper option out there.

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Sources used:

1. Mukuru - Our story
2. Mukuru - Home
3. Mukuru - How to send money with Mukuru
4. Mukuru - Frequently asked questions
5. Mukuru - Check rates

Sources last checked on date: 06-Jun-2023