Sending Money to Jamaica: Which Service Costs Less?
Western Union vs MoneyGram vs Remitly vs Wise. A real-world cost comparison for common transfer amounts.
By Michael T for OurJa
Jamaica receives billions of dollars in remittances each year, making it one of the country's largest sources of foreign exchange. If you are in the diaspora sending money home, the service you use matters.
How to Compare Remittance Services
Most services advertise low or zero transfer fees, but make their money on the exchange rate markup. To compare accurately, check: (1) the transfer fee, (2) the exchange rate you're being offered vs the mid-market rate (Google 'USD to JMD' for the benchmark), and (3) how the recipient receives the money.
Provider Comparison: Sending US$200 to Jamaica
The figures below are based on typical market conditions in early 2026. Always check the actual rates on each provider's website at the time of your transfer.
| Provider | Transfer Fee | Exchange Rate Markup | Rating | Delivery |
|---|---|---|---|---|
| Wise | ~US$2-4 | Near mid-market | ★★★★★ Cheapest | Bank deposit (1-2 days) |
| Remitly | ~US$0-3.99 | Small markup | ★★★★ Very good | Bank deposit, cash pickup |
| Western Union | ~US$0-4.99 | Higher markup | ★★★ OK | Cash pickup same day, or bank |
| MoneyGram | ~US$0-4.99 | Similar to WU | ★★★ OK | Cash pickup, bank deposit |
| Boss Revolution | ~US$0 | Moderate markup | ★★★ Competitive | Cash pickup only |
Key Factors to Consider
Speed vs Cost
If speed matters, Western Union and MoneyGram offer near-instant cash pickup at agents across Jamaica (ScotiaBank, NCB, Bill Express, etc.). If cost matters more than speed, Wise consistently offers the best exchange rate for bank-to-bank transfers, though it can take 1-2 business days.
Bank Account vs Cash Pickup
Bank deposits are generally cheaper and more secure, but require your recipient to have a bank account. Cash pickup is available across hundreds of locations in Jamaica, including pharmacies, hardware stores, and supermarkets.
Mobile Wallets
Lynk (operated by NCB) and Moneywatch are gaining traction in Jamaica. Some remittance services are beginning to support direct-to-mobile-wallet transfers, convenient for smaller amounts and recipients without a bank account.
Tips for Getting the Best Rate
- Always check the mid-market rate on Google first ?? that is your benchmark
- Use Wise or Remitly for regular, non-urgent transfers
- For cash pickup, compare both Western Union and MoneyGram on the day, as rates fluctuate
- Transfer larger amounts less frequently to reduce per-transfer fees
- Some services offer better rates for first-time transfers ?? check for promo codes
- Avoid airport kiosks and hotel desks. Their rates are always worse
Tip: Your recipient should have their National ID when picking up cash. PICA-issued IDs, driver's licence, or passport are all accepted.
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