Are you or your loved one planning on sending money to Zimbabwe from the UK? You might want to check out this new interesting offer from Wiremit Money Transfer. They are giving you a little something extra to make your transfer go further – a US$10 bonus on all transfers from the UK to Zimbabwe! That means your recipient gets an extra $10 on top of whatever you send.

Quick heads-up: Wiremit Money Transfer isn’t the same as WorldRemit (another remittance service). Make sure you’re on the right website!

This promotion comes at a time when remittances are playing a bigger role than ever in Zimbabwe’s economy. The government recently reported an 18% jump in remittances, reaching $494 million in the first quarter of 2024 alone. It just goes to show how important diaspora contributions are to supporting family and friends back home.

How to Get the Bonus?

To take advantage of this offer, simply enter the promo code “SEND10” when you are setting up your transfer on Wiremit’s website. The extra $10 is added automatically, and there are no extra fees for you or the recipient.

What’s the Catch (or Is There One)?

This looks like Wiremit’s way of making a splash in the competitive world of remittance services. Offering incentives like this is a common strategy to attract new customers and build a name for themselves.

Getting Your Money to Zimbabwe with Wiremit:

Wiremit offers a few different ways for your recipient to access the funds:

Cash Pickup: They can swing by one of Wiremit’s partner agents across Zimbabwe and collect the cash directly. This is likely to be the most common and preferred option as there are no extra fees when collecting the money.
Bank Deposit: You can choose to have the money deposited straight into a Zimbabwean bank account. Zimbabwean banks make their money from charging fees and the government also has the infamous IMT tax. Make sure you do your research before choosing this option.
Mobile Money: Wiremit might also have mobile money transfer options, which means the money arrives instantly in their mobile wallet. Generally, Ecocash does not charge you if you cash out money received from the Diaspora but again cash is the safest option.

Things to Keep in Mind When Choosing a Remittance Service:

While a $10 bonus is always nice, do not forget to consider these other important factors before making your decision:

Exchange Rates: Shop around and compare the exchange rates offered by different providers to make sure you are getting the most bang for your buck.
Fees: Double-check if there are any transfer fees involved, as these can vary between services.
Transfer Speed: How quickly does the money need to arrive? Some services are faster than others. Most service providers including Wire Remitt and Mukuru offer instant transfers though so this is not a big deal.
Customer Service: It’s always a good idea to choose a service with a reputation for reliable and helpful customer support.

Bottom Line:

Wiremit’s $10 bonus is a welcome perk for anyone sending money to Zimbabwe from the UK. But as with any financial decision, it’s smart to weigh all your options and choose the service that best fits your needs and priorities.