Mukuru Rates & Fee Calculator
Recipient Receives: 0.00
Total Transfer Fees: 0.00
Total You Pay: 0.00
Understanding Mukuru Money Transfer Rates
Mukuru is one of Africa's leading financial services platforms, primarily known for enabling fast and reliable cross-border money transfers. When sending money through Mukuru, users often need to navigate two primary costs: the exchange rate and the transfer fees.
How the Mukuru Exchange Rate Works
The exchange rate is the value of one currency compared to another. Mukuru sets its own exchange rates, which may differ slightly from the mid-market or "interbank" rate you see on Google. This difference, often called a "spread," is how many remittance services cover operational costs. To get the most accurate result, you should check the live rate on the Mukuru app or website before using this calculator.
Breakdown of Mukuru Fees
Mukuru fees are typically structured in one of two ways, depending on the corridor (the country you are sending from and to):
- Fixed Fees: A flat amount charged regardless of how much you send (e.g., R20 per transaction).
- Percentage-Based Fees: A fee calculated as a percentage of the total amount being sent (e.g., 5% of the principal).
Practical Example of a Mukuru Transfer
Imagine you are sending money from South Africa to Zimbabwe. You want the recipient to receive the equivalent of R1,000. If the Mukuru exchange rate is 1 ZAR = 1.00 (in a 1:1 USD scenario or mobile wallet credit) and the fee is 10%, the calculation would look like this:
- Principal Amount: R1,000
- Fee (10%): R100
- Total Paid by Sender: R1,100
- Recipient Gets: 1,000 units in the destination currency.
Tips for Using the Mukuru Rates Calculator
To ensure you get the most accurate calculation, always verify the current daily rate. Exchange rates fluctuate frequently due to global market conditions. Additionally, remember that different payout methods (cash collection vs. bank deposit vs. mobile wallet) might occasionally carry different fee structures or limits.