In this article, you'll discover whether Revolut works in Tanzania, explore some potential drawbacks if it is available, and consider the possibilities it offers. Stay tuned to find out more.
Does Revolut Work In Tanzania?
Revolut is not available in Tanzania. The financial services offered by Revolut, such as personal and business accounts, savings, investments, and international money transfers, are not accessible to users in Tanzania. This means that Tanzanian residents cannot sign up for or use Revolut's services.
While Revolut provides a Tanzanian Shilling travel money card for users traveling from the UK to Tanzania, this service is limited to travelers and does not extend to residents of Tanzania. Therefore, Tanzanian residents looking for similar financial services will need to explore other options available locally or regionally.
Fees and Charges for Using Revolut in Tanzania
Here are some general costs that users might encounter when using Revolut in Tanzania:
- Currency exchange fees: Subject to fair-usage limits and weekend markups.
- ATM withdrawal fees: Fee-free ATM withdrawals up to £200 for Standard and Plus plans, up to £400 for Premium plan, and up to £800 for Metal plan. Withdrawals beyond these limits are charged at 2% of the value of the ATM withdrawal or a minimum fee of £1 (whichever is greater).
- Transaction fees: No specific transaction fees for spending in Tanzanian Shillings, but currency exchange fees may apply if the transaction involves a currency conversion.
- Potential fees charged by ATM providers: These are fees that Revolut cannot prevent and may be charged by the ATM providers themselves.
Is Revolut the Best Option in Tanzania?
Even if Revolut were available in Tanzania, it might not be the best option for users due to several limitations and restrictions that could impact the overall user experience.
- Limited local support: Revolut does not have a physical presence or local customer support in Tanzania.
- Currency exchange fees: Subject to fair-usage limits and weekend markups, which can add up.
- ATM withdrawal limits: Fee-free withdrawals are capped, with additional withdrawals incurring a 2% fee.
- Potential ATM provider fees: Local ATM providers may charge additional fees that Revolut cannot control.
- Regulatory challenges: Revolut may face regulatory hurdles that could affect service reliability in Tanzania.
Alternatives to Revolut in Tanzania
1) OneSafe
OneSafe is a leading alternative payment solution in Tanzania, offering a range of features that make it a superior option. With simple onboarding, lower fees, and excellent customer support, OneSafe ensures ease of use and efficient financial operations. Its multi-currency support and seamless payment options cater to global needs.
OneSafe Reviews
Users have praised OneSafe as the best bank they have used, highlighting features like ACH, Crypto, Wire deposits, and Virtual cards. The platform is noted for its comprehensive support for most businesses, making it a preferred choice for many. While specific achievements or awards are not mentioned, the positive sentiment underscores OneSafe's effectiveness and reliability in financial operations.
2) Wise
Wise offers a robust alternative payment solution in Tanzania, featuring a multi-currency account, international money transfers, and a Wise debit card. Users benefit from competitive exchange rates, low fees, and secure transactions. The platform supports Tanzanian shilling, making it convenient for local and international financial activities.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 from 86 reviews. Users generally find the service easy to set up and use, but some have faced issues with government restrictions or transaction failures without notifications. Check out more Wise reviews here.
3) Paypal
PayPal offers a secure and efficient payment solution in Tanzania, allowing users to send and receive money globally. Key features include linking multiple cards, 24/7 fraud monitoring, and buyer and seller protection. These benefits make PayPal a reliable option for both personal and business transactions.
Paypal Reviews
PayPal has an overall rating of 4.4 out of 5 from 2,117 reviews. Users generally mention high transaction fees and issues with customer support. Check out more PayPal reviews here.
Frequently Asked Questions about Revolut in Tanzania
Is Revolut available for residents of Tanzania?
No, Revolut is not available for residents of Tanzania. They cannot sign up or use its services.
Can I use Revolut's travel money card in Tanzania?
Yes, but only for travelers from the UK. Tanzanian residents cannot use this service.
Are there any fees for using Revolut in Tanzania?
Yes, fees include currency exchange fees, ATM withdrawal fees, and potential ATM provider fees.
Does Revolut offer local customer support in Tanzania?
No, Revolut does not have a physical presence or local customer support in Tanzania.
What are the alternatives to Revolut in Tanzania?
Alternatives include OneSafe, Wise, and PayPal, which offer various financial services and support.
Begin Your Journey with OneSafe Today!
Choosing the right payment solution in Tanzania is crucial for seamless financial operations. While Revolut isn't available, alternatives like OneSafe offer robust features and local support. Explore OneSafe for efficient, low-cost transactions and excellent customer service. Sign up today to experience the benefits.
