Everything you need to know
Benin Currency
Travelling to or living in Benin? Managing your money shouldn’t be stressful. With TransferGo, you can send, spend, and exchange money affordably — so more of your money goes where it matters.
Use the GoCard in Benin
Open a UK bank account with us and get a GoCard for smarter spending in Benin. Pay in local shops, use ATMs globally, and enjoy contactless payments—all with zero hidden fees. Everything is managed from the app. Available only to UK and EU residents.
What is the currency in Benin?
The official currency of Benin is the West African CFA franc , which it shares with several neighbouring countries
The CFA franc replaced the French West African franc in 1945 and has remained the currency of Benin since its independence. It is pegged to the euro, providing stability across the region.
XOF, CFA
Banknotes
CFA1,000
CFA2,000
CFA5,000
CFA10,000
Coins
CFA1
CFA5
CFA10
CFA25
CFA50
CFA100
CFA200
CFA500
Popular CFA Franc BCEAO pairings
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X
Z
How to spend money in Benin
Cash is the primary method of payment, especially in markets, taxis, and rural areas. In larger cities like Cotonou, some hotels and restaurants accept cards, but it’s best not to rely on them. Mobile money services are becoming more common for local transfers and payments.
Tips for exchanging money in Benin
Exchange money at banks or authorised bureaux for fair rates.
ATMs are available in cities but not always reliable.
Carry small denominations for everyday purchases.
Always pay in CFA francs for the best value.
With TransferGo, you can spend directly with your GoCard—avoiding extra bank charges.
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Frequently asked questions
What is the official currency used in Benin?
The West African CFA franc (XOF).
What is the official currency used in Benin?
Symbol: CFA | Code: XOF
Can I use my home currency in Benin?
No, CFA francs are required.
How can I use my GoCard in Benin?
Just activate it in the app and start spending—online or in stores.
Is it better to use cash or card when spending in Benin?
Cash is essential; cards are limited to a few businesses.
Are credit or debit cards widely accepted in Benin?
Only in major hotels and some shops in Cotonou.
Are there ATMs available in Benin, and are there withdrawal limits?
Yes, in cities, but services can be inconsistent.
Can I use a GoCard in Benin?
Yes! You can use your GoCard for spending, withdrawing, or managing your money—with fair rates and no hidden fees.