Send Money To Iraq Efficiently

Iraq

Discover your options for transferring funds to Iraq.

There may be many different reasons why you need to send money overseas from Canada to Iraq. Whether you have to transfer emergency funds to help a family member or pay bills to cover business expenses, there are a few reliable and convenient ways to get money to Iraq. Some Canadian banks do not allow transfers to Iraq so look for money transfer services that provide speedy and affordable services.

International money transfer products and services that allow transfers to Iraq

Rates last updated May 25th, 2018
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
Citibank Plus Everyday Account
AUD 10
Same day
Online, Phone, Agent, Bank Account to Bank Account
A transaction account with free transfers to any country and no foreign transaction or international ATM withdrawal fees.
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.

Compare up to 4 providers

Banks vs money transfer services

Exchange rates for different currencies fluctuate with the economy. Banks and other money transfer companies typically offer to send your money overseas at a less competitive rate. While specialist money transfer companies generally provide better exchange rates, they may offset the costs with higher fees. Banks typically offer low exchange rates and can often charge high fees as well. Compare your options to discover how you can save money when transferring funds overseas from Canada to Iraq.

Case study: Abdel’s Canadian transfer

Abdel was temporarily transferred from the company he works for in Iraq to their offices in Canada six months ago. He would like to continue adding funds to his savings account back home and has decided that he will send payments to his account whenever possible. His bank in Canada does not allow transfers to Iraq, so he must use other means. To find out about money transfer options, he compares two popular money transfer companies.

Money transfer Service 1Money transfer service 2
Exchange rate1 CAD = 895.02 IQD1 CAD = 883.92 IQD
Transfer TimeWithin minutes.Within minutes.
Transfer feeCAD$50 is charged. There should be no charge to the recipient when picking up the money.CAD$70 is charged. There should be no charge to the recipient when picking up the money.
Amount received in Iraqi Dinar for CAD1,000Recipient will get IQD895,020Recipient will get IQD883,920
Hidden chargeApproximately IQD8,303 are lost in the exchange rate difference.Approximately IQD19,403 are lost in the exchange rate difference.

With Abdel’s first option he saves $20 with fees and his family will receive 11,100 Dinar more, depending on whether they are charged to convert funds to the Dinar. Keep in mind some providers will send money to Iraq in USD and the currency must be converted on arrival. This means the money is subject to two exchange rates. With frequent changes in exchange rates, it’s sensible for Abdel to check the rates every time he is preparing to make a transfer.

How to compare transfer companies when sending money to Iraq

Due to political issues, options for sending money to Iraq from Canada are quite limited. Many companies will send funds in USD to Iraq. This will mean you will lose twice as much money to the exchange rate. Consider the following when transferring money to Iraq from Canada:

  • Exchange rates. This is where you will want to focus your attention since poor exchange rates can often be hidden by offering cheap transfer fees. Take a look at the average exchange rate for your currency pair and then compare different transfer companies too see what they offer. Some transfer providers will also send USD to Iraq from Canada, subjecting the money to two different exchange rates (CAD to USD, then USD to IQD).
  • Fees. There can be a substantial fee associated with a money transfer, especially to certain regions of the world. Sending money to Iraq from Canada will likely have high fees. Fee costs will change in relation to the amount of money you are sending, making it important to compare companies. Some companies charge zero fees, but these may be difficult to find when sending money to Iraq specifically.
  • Turnaround time. This is an important consideration if your recipient needs the money immediately. Check online to see if a tracking service is offered so you know when the funds are available for pick-up.
  • Transfer methods. If you plan on sending money often, it may be in your best interest to look into online methods. Many transfer companies have branches you can use, but some will also allow you to transfer the money directly from your bank account using an online site. This option may save you money, as sending cash may be more expensive.
  • Transfer amount limits. Keep in mind that with any provider there is going to be a limit, not only on the amount you may transfer at one time, but also on the amount you may transfer in a single day. These types of regulations are in place for your own protection. Some companies also have minimum amounts that you can send.

How to send money to Iraq from Canada

The Iraqi Dinar is considered an exotic currency, making it difficult to find money transfer services and banks that are willing to conduct the transaction for you. You may want to consider the following company when transferring money from Canada to Iraq:

  • Western Union. Western Union is the most direct service for transferring money from Canada to Iraq. The company allows you to conduct transactions online or at one of their branches. Keep in mind that Western Union may send the funds for pickup in USD, meaning you will face two exchange rates.

Emergency cash transfers in Iraq

If you’re travelling in Iraq and find yourself in need of an immediate cash transfer from Canada, you have a couple of options available to you:

  • Money transfer companies. Travellers are able to pick up money at Western Union locations in other countries. You’ll need to have a valid passport or photo ID in order to get your money.
  • Credit card. If the credit card you used to pay for your travels is lost or stolen, check tosee if it had complimentary travel insurance. This option might provide you with essential cash until the card can be replaced.
  • Travel insurance. You should always buy travel insurance when booking a trip overseas. Depending on the type of insurance coverage you have, you may be eligible for cash in the event that you are the victim of a crime. Call your insurance provider for details if you are robbed or lose your wallet while travelling in Iraq.

Western Union cash pickup locations in Iraq

There are only a few cash pick-up locations in Iraq. Before visiting a location to get your cash, make sure that you have the money transfer reference number, the sender’s name and location, the amount sent and your passport. Call the location in advance to make sure your cash is available and to check that it’s open.

Baghdad

  • Airport Branch

    Baghdad Diplomatic Support Center Airport Area

    Baghdad, Baghdad

    +964-7903373003

    Open Sunday through Thursday from 8 A.M. to 3 P.M.

  • United Arab Money Transfer Co

    Almansoor District 609 St 18

    Baghdad, Baghdad

    +964-1-5430080

    Open Sunday through Thursday from 8.30 A.M. to 2:30 P.M.

Basrah

  • Basra Algeria Street

    Opposite Al Basra Airline

    Al Basrah, Al Basrah

    +964-770-4447268

    Open Monday 8 A.M. to 11 P.M. Sunday and Friday 12 A.M. to 11 P.M.

  • Iraqna Money Transfer

    Basrah 14 July St

    Al Basrah, Al Basrah

    +964-4-7709226060

    Open Monday 8 A.M. to 9 P.M. Sunday and Friday closed.

Tips for picking up cash in Iraq

The Canadian Government advises against all travel to Iraq and any regions controlled by the Kurdistan Regional Government. If you absolutely must make the trip, proceed with extreme caution when frequenting a financial institution to retrieve cash. Go to a well known location, such as the one inside Baghdad airport, and bring along a friend who is familiar with the area and local customs if possible. Take the money back to your hotel immediately and put your funds in a safe. Do not use public transportation, instead have your hotel call you a trusted cab driver.

How to send money to Iraq

Depending on the type of method you use to send your funds, you may need to take different steps and provide different information. If you are able to use an international bank to easily transfer funds, you will need to open an account with a Canadian bank that can be linked to or allows transfers to an Iraqi account. To do this you will typically need:

  • Account information. The account details for the bank account in Iraq. This will include the bank routing number and the account number.
  • Address. Your Canadian address as well as the recipient’s address in Iraq.
  • Passport. A copy of your passport and your valid working visa (if necessary).
  • Employment details. Some banks may require that you supply details about your current employment in Canada.

If using a Western Union money transfer, be prepared to provide:

  • Your name. Your full name and contact information.
  • Your recipient’s name. It’s imperative that the name you give matches the name on your recipient’s photo ID exactly, to avoid any problems.
  • The tracking number to your recipient. You will be given a tracking number for the transaction, which you will have to pass along to your recipient in order for them to be able to pick up the money. In some cases, a secret question can also be used to help confirm their identity.

As a Canadian, you are very limited with ways to send money to Iraq. Explore and compare the options that are offered to save you the maximum amount of money possible when transferring money from Canada to Iraq.

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