With almost 50,000 Canadians claiming Algerian descent, there are plenty of reasons to send money from Canada to Algeria. Whether you need to manage a portfolio of businesses expenses or want to send money home to family and friends living in the region, check out our handy guide to find the most competitive exchange rates and lowest fees on your next money transfer overseas.
The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.
Since the Algerian dinar (DZD) is listed as an exotic currency, many Canadian banks won’t facilitate money transfers to Algeria. Even those that do will likely charge much higher fees and offer less competitive exchange rates than dedicated money transfer services. If you’re looking for quick and affordable transactions to thousands of destinations around the globe, it pays to try a company like OFX or XE Money Transfer on for size to see how much money you can save.
Amel has received a full scholarship to study for her doctorate in psychology at the University of British Columbia. Since she’s an only child, she regularly sends money home to her parents, who run a small restaurant in Oran. Amel approaches her bank to facilitate a money transfer to Algeria but they don’t deal in Algerian dinar so she decides to compare two online money transfer providers to see which one offers a better deal. The comparison below is based on exchange rates in the fall of 2018, so check current rates before making your choice.
| Money Transfer Service 1 | Money Transfer Service 2 | |
|---|---|---|
Exchange rates | CAD$1 = DZD 88 | CAD$1 = DZD 89 |
Transfer fees | $25 | $10 |
Amount received (for $1,000) | DZD 88,000 | DZD 89,000 |
Transfer speed | 2 – 5 days | 1 – 2 days |
Options available | Bank-to-bank transfer | Bank-to-bank tranfer or cash pick-up |
Amel realizes that she can save DZD 1,000 (around $11) in the exchange rate with an additional $15 in fees with the second money transfer option. This means Amel will save $26 per transfer if she decides to send money regularly.
Some Canadian banks will allow you to send money to Algeria, however you will likely face sub-par exchange rates and high transfer fees. Other services that offer money transfers to Algeria include:
Safe ways to send emergency cash transfers to Algeria
Emergency money transfers can be sent from MoneyGram and Western Union and can be picked up in Algeria at multiple locations. Just beware that while these companies can be a lifesaver when you’re in a tight spot, they’re often more expensive than a bank-to-bank transfer. Major credit cards can also sometimes offer emergency cash to travelers (which is typically extended as a loan) or you may also be able to purchase a travel insurance policy to cover loss and theft while on vacation.
The Government of Canada recommends that Canadian travellers exercise a high degree of caution (as of 17 September 2018). Street crime such as robbery and theft can occur in larger cities, particularly after dark. If you do need to collect cash at an agent location, be sure to do so in a safe neighborhood before dark and in the company of a trusted friend. Avoid displaying signs of affluence or carrying large sums of cash and be cautious when withdrawing money from ATMs.
The basic steps you may need to follow when sending money to Algeria are outlined below.
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