How to send money to Sierra Leone in 2026: dollars to a currency account with no exchange, leones to an account or a mobile wallet
Since 2022 Sierra Leone has counted in new leones, and since March 2025 it has stated prices inside the country only in them. In 2026 we explain converting old leones, a currency account for a non-resident, wallets, instant payments, tax, land leases and papers for the bank.
In short
- The central bank reference rate on 7 October 2026 is 22.93 new leones per dollar.
- 1 new leone = 1,000 old ones, and prices inside the country have been in leones since March 2025.
- A currency account is opened for both a resident and a non-resident.
- In the provinces a foreigner is given a land lease of up to 50 years with a 21-year extension.
In detail
In 2026 money in Sierra Leone is received on a dollar currency account, on a leone account and on a mobile wallet. A bank opens a currency account for both a resident of the country and a non-resident. The Bank of Sierra Leone reference rate on 7 October 2026 is 22.93 new leones per dollar, and since March 2025 prices inside the country have been stated in leones.
| How to receive | Checked on 8 October 2026 | Currency | What to tell the sender |
|---|---|---|---|
| Currency account at a bank | works | dollars with no exchange | the bank's international code and the account number |
| Leone account | works | new leones at the market rate | the same details |
| Mobile wallet | works | leones only | the phone number and the holder's name |
| Instant transfer between banks and wallets | works since 13 February 2025 | leones | the account or phone number |
Checked on 8 October 2026. The Bank of Sierra Leone weighted average reference rate on 7 October 2026 is 22.9333 leones per dollar, 25.6735 per euro and 30.3602 per pound sterling.
Old and new leones: how to count the transfer amount
Since 1 July 2022 the country has used the new leone: 1,000 old leones became 1 new one. Old banknotes stopped being legal tender after 31 December 2023. If family quote a price in old leones, divide it by 1,000: 229,330 old leones is 229.33 new ones, or $10.
Under the 2024 amendments to the central bank law, published on 13 March 2025, prices in deals inside the country are stated in leones. So rent in Freetown is paid in leones, and dollars from the currency account are exchanged for the payment.
Dollars on an account at a Freetown bank: who can open one
Both residents and non-residents hold currency accounts at commercial banks in Sierra Leone. The account is funded by a transfer from abroad or from another currency account. Since December 2020 currency can be held with no upper limit.
The country has no international account number: the sender is given the recipient bank's international code and the account number, whose length differs from bank to bank. Want to keep dollars at the bank and send leones to family? A manager will suggest the order and the currency for each purpose.
A transfer to a wallet and the central bank's instant payments
The Bank of Sierra Leone itself owns the national payment switch. Since 13 February 2025 its instant payment service has moved money between banks and mobile wallets, and since 1 April 2025 all such payments inside the country go through it. A wallet is held in leones only.
Under the central bank's 2025 rules a money transfer company pays out money straight away and converts it at the current market rate. A large sum is credited to an account or wallet, and a small one the recipient collects in the way that suits them.
Tax in Sierra Leone: 182 days and 15% on interest
Under the 2000 Income Tax Act a resident is someone who has spent more than 182 days in the country within 12 months or lives in the country permanently. A resident pays tax on worldwide income, a non-resident on income from Sierra Leone. The bank withholds 15% on deposit interest. The 2022 National Investment Board Act guarantees an investor the transfer abroad of after-tax profit, dividends and proceeds from the sale of a business in any freely convertible currency.
Leasing land in Freetown and the provinces: terms by law
In Freetown and the Western Area a foreigner takes land and housing on lease; a lease longer than 21 years is made with a licence from the board under the 1966 law, and it is then registered. In the provinces the customary land law has been in force since 2022: a foreigner is given a lease of up to 50 years with a 21-year extension, and up to 15,000 hectares for one project.
For a hotel on the coast or a farm in the provinces, rent and investments are transferred to the company's account. A manager will go through the project and the path of the money up to the lease agreement.
How many papers a bank in Freetown will ask for
Banks check clients under the 2024 anti-money laundering law, which created an independent financial intelligence agency, and the Bank of Sierra Leone supervises them under the 2019 Banking Act. In 2026 the documents depend on the amount:
| Amount | The bank's question | Document |
|---|---|---|
| Up to $10,000 | to whom and why | the purpose: family, study, medical treatment |
| $10,000 - $100,000 | where the money comes from | a bank statement, a salary certificate |
| From $100,000 | the origin of the money and the project | a property sale contract, a lease with a licence, company documents |
A transfer for a project goes through with no pauses when the pack is gathered before sending. We compare countries for moving with capital on the capital relocation page.
We will help you send money to Sierra Leone
An amount in old leones instead of new ones, dollars sent to a wallet, a lease longer than 21 years with no licence - mistakes like these cost more than the fee. We will help you avoid them: we will choose the currency and account, prepare documents for the bank in Freetown and carry out the transfer through licensed partners until it is credited.
Details and cost are with a manager in the chat: everything depends on the amount, the currency and the purpose of the transfer to Sierra Leone.
Sierra Leone's neighbours and diaspora countries
- Guinea: the northern neighbour with a floating franc.
- Liberia: the eastern neighbour, where the US dollar is in use.
- The United Kingdom: long-standing ties and transfers in pounds.
- Ghana: an English-speaking country on the same coast.
- Nigeria: the largest economy in West Africa.
- The Gambia: the dalasi and $872.1 million of transfers in 2025.
Choosing a country to live in with your money is on the capital relocation page.
FAQ
How many old leones are there in one new leone?
Can a non-resident open a dollar account at a bank in Sierra Leone?
What tax does a bank in Sierra Leone withhold on deposit interest?
For how long is land leased to a foreigner in the provinces of Sierra Leone?
We will suggest the best way to send your money
We will choose a transfer method for your amount and country, prepare the documents on the origin of the money for the bank, make the transfer through licensed partners and follow it until the money is credited. Ask your question in the chat - the manager will suggest the best terms and the cost. The legal side with banks and government bodies is handled by Murblz specialists and locally licensed partners.
Details and cost are with the manager in the chat. Describe your situation and we will reply right away.
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