Thanks to modern technology, there are now plenty of safe, fast and cost-effective ways to send money to Jamaica from the UK.
How To Send Money to Jamaica from the UK
There is a large Jamaican community in the UK. According to the Jamaican High Commission, the total estimated figure is around 800,000 Brits living in the UK with Jamaican origin. Second only to the United States, the UK has the largest Jamican population living outside of Jamaica. As such, there is a high demand for financial services supporting money transfers between Jamaica and the UK.
Methods to Send Money to Jamaica from the UK
Sending Money to Jamaica via Online Money Transfer
There are many online services available for transferring funds to Jamaica. These tend to offer the best exchange rates. Services such as Azimo and WorldRemit are widely recognised for low transfer fees and the best exchange rate between the British Pound and the Jamaican Dollar.
Sending Money to Jamaica via PayPal
PayPal payments to Jamaica are supported by Xoom. However, this is not necessarily the most cost-effective option as Xoom makes a profit from the conversion. This means that it is not the best exchange rate available. They also charge an additional transaction fee.
Sending Money to Jamaica via Bank Transfer
Sending money to Jamaica directly from a UK bank account is rarely the best option. Not only do the exchange rates tend to be worse, they also charge some of the highest transaction fees on the market.
Sending Money to Jamaica via Western Union
Western Union is one of the most widely-used methods for international transfers. They offer the option of sending money online, via mobile payment or in person. The recipient can, in turn, receive the money directly into their bank account or can collect the cash. However, when collecting the money, the recipient will need to do a short registration. This involves sharing the details of the transfer, presenting a form of ID and sharing the unique Money Transfer Control Number (MTCN) of the transaction.
Can I Send Money to Jamaica via Cryptocurrency?
Cryptocurrency is technically legal in Jamaica although it is strongly advised against by the Jamaican government.
Can You Send Money to Jamaica For Free?
Money transfer services are nearly always subject to some form of transaction fee or conversion rate. However, many fees are extremely low. Remitly allows a zero-fee transaction for first time users.
How Long Does It Take to Send Money to Jamaica?
With online services, it has never been faster to send money from the UK to Jamaica. Remitly, WorldRemit and Western Union all offer same-day transactions. Bank transfers are always the slowest option at around 1-3 business days.
What Do You Need to Transfer Money to Jamaica?
For any online payments, you will need all relevant login details and possibly a card reader. Bank transfers typically require a form of photo ID as well as a valid payment method (debit or credit card). Often, the recipient will need to present ID in order to receive the funds.
Is it Safe to Send Money to Jamaica from the UK?
As with any online transaction, you should always be careful to check that the payments are legitimate. Look out for FCA approval which ensures that the accounts are safeguarded. Any legitimate company should have their FCA details readily available on their website. Always be especially careful when providing any confidential information such as passwords, particularly in phone and email correspondence.