Do You Have What It Takes Send Money to Montenegro Like A True Expert?


Researching your transfer options is the best way to save money when you need to send an international funds transfer to Montenegro.

Situated on the shores of the Adriatic Sea, Montenegro is famous for its medieval history, spectacular mountains and picture-postcard coastline. The Balkan nation was once a part of Yugoslavia and is home to a population of more than 620,000 people.

If you need to send money from Australia to Montenegro, do your bank balance a favour and shop around for the most affordable and convenient transfer option you can find.

When you need to send an overseas money transfer, you might think that the best way to complete the transaction is via your bank. But while banks certainly offer a convenient option, they don’t offer a cheap one — the low exchange rates and high fees they offer simply work out to be too costly.

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Rates last updated December 11th, 2017

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Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.

With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:

  • Buying property abroad
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Transfer Speed Services Min. Transfer Amount Online Transfer Fee Rate Amount Received
ANZ Access Advantage Account
Send money safely to over ... Send money safely to over 60 countries in as little as two days. Available to those with an ANZ bank or credit card account.
2 days
AUD 0 Rates are always
changing, click to check
your price today
TorFX International Money Transfers
TorFX guarantee to beat any ... TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in 45 currencies. Once registered, you'll be assigned an Account Manager who can provide support and guidance.
1 day
AUD 200 Rates are always
changing, click to check
your price today
Go to site More
Exclusive: OFX (Ozforex) International Money Transfers
Exclusive offer: Discounted exchange rates ... Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
1 day
AUD 250 Rates are always
changing, click to check
your price today
Go to site More
Exclusive: WorldFirst International Money Transfers
Exclusive offer: $0 transfer fee ... Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.
1 day
AUD 2,000 Rates are always
changing, click to check
your price today
Go to site More
HiFX International Money Transfers
Make your first transfer for ... Make your first transfer for free
Send money in more than 40 currencies.
2 days
AUD 50 Rates are always
changing, click to check
your price today
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Compass Global Markets International Money Transfers
Send money overseas in at ... Send money overseas in at least 140 currencies.
1 day
AUD 1,000 Rates are always
changing, click to check
your price today
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Banks versus money transfer companies

Instead of sending funds through your bank, compare your options to see whether you can find a more affordable deal from a specialist money transfer company, such as OFX or CurrencyFair. These providers trade high volumes of foreign currency and can therefore offer much better exchange rates than the banks. They also charge lower fees, so doing a quick comparison between transfer providers can save you a whole lot of cash.

Case Study: Ivan Sends Money to Montenegro

Ivan’s wife Karina stayed behind in Montenegro while Ivan was posted to Australia to work for six months. With the bills piling up at home, Ivan wants to send his wife $1,000 to help her take charge of the family finances. Instead of taking the rubbish exchange rate offered by his bank, Ivan decides to compare two specialist money transfer companies to see if a better deal might be available.

As the comparison table below shows, while the first transfer company can save Ivan AUD $3 in transfer fees, the better exchange rate offered by the second company allows him to send almost €20 extra.

Money transfer company 1Money transfer company 2
Exchange rate1 AUD = 0.6067 EUR1 AUD = 0.6266 EUR
Transfer fee$0$3
Transfer methodOnline bank account transferOnline bank account transfer
Processing time1-3 days1-3 days
Amount received (in EUR)€606.70€626.60
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How do I compare transfer companies when transferring and receiving money via Montenegro?

  • Exchange rates. Check the company’s website to see what exchange rates they offer. How do those rates compare to the provider’s competitors?
  • Transfer fees. Make sure you’re aware of all the hidden fees and charges that apply when you send a transfer. Some companies charge no fees while others will slug you $60 or $70 in some cases, so comparing your options is essential.
  • Transfer methods. Some companies offer online or in-branch transfers only, while others also provide over-the-phone and mobile app transfers.
  • Transfer options. Can you place forward contracts and limit orders to get a better exchange rate? Is there an option to set up repeat transfers so you can save yourself time?
  • Minimum and maximum limits. If there are limits on the amount the company allows you to send per transaction, will those limits hinder your transfer plans?
  • Processing times. How long will it take until your beneficiary can access the money you send?
  • Pickup options. While some companies provide online bank account transfers, others offer transfers with a cash pickup option.
  • Customer service. Check out the company’s reputation when it comes to delivering prompt and helpful customer service. If you ever need assistance with a transaction, will you be able to quickly access the help you want?
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How do I send money to Montenegro from Australia?

  • Specialist transfer providers. Companies such as OFX and CurrencyFair offer fast and affordable overseas transfers.
  • Cash pickup transfer companies. Have a look online to see if there’s a Western Union cash pickup location close to your recipient in Montenegro.
  • Bank transfers. Compare the cost of sending the transfer via your bank with using a specialist transfer provider.
  • International cheques. A safe but slow option is to post an international cheque to Montenegro.

How do I receive money from Montenegro in Australia?

  • Specialist transfer providers. Compare transfer providers to see which ones offer transfers from Montenegro to Australia.
  • Cash pickup transfer companies. Western Union has multiple cash transfer locations in Australia and Montenegro.
  • Bank transfers. Your loved one in Montenegro could send a transfer from their bank account to your Australian bank account.
  • International cheques. International guaranteed cheques are another transfer option but they can be quite time consuming.
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Emergency cash transfers in Montenegro

When you need to get money to a friend or loved one in Montenegro as quickly as possible, an emergency cash transfer is the way to go. Some companies offer overseas transfers that can be completed within minutes, which is extremely convenient, but make sure you’re aware that these types of transfers will cost you more. High transaction fees and lower exchange rates usually apply, so review the full cost of a transaction before you commit yourself.

Cash pickup locations in Montenegro/ Western Union branches in Montenegro

Western Union operates a substantial cash transfer network that includes several locations in Montenegro. Some popular pickup locations are listed below – make sure you’ve got photo ID and a transaction reference number handy when you go to collect funds.

Western Union


  • Posta Crne Gore Doo
    Trg OruzjaKotor Posta Stari Grad Kotor, 85330 +381-11-3300300Open 7:30am to 8pm Monday to Saturday
  • Komercijalna Banka Ad Budva
    Trg Oruzja Bb Kotor,85330 +381-11-3300300Open 8am to 4pm Monday to Friday, 8am to 12pm Saturday


  • Posta Crne Gore Doo
    Bulevar S Kovacevica Bb Gintas Podgorica, 81000 +381-11-3300300Open 9am to 10pm Monday to Saturday, 9am to 8pm Sunday
  • Posta Crne Gore Doo
    Bratstva I Jedinstva BbPosta 8 Podgorica, 81000 +381-11-3300300Open 7:30am to 8pm Monday to Friday, 8am to 7pm Saturday
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Tips for picking up cash in Montenegro

Regardless of whether you’re in Montenegro or Melbourne, it always pays to take a few simple safety precautions when picking up cash:

  • Only visit a transfer agent in a safe location
  • Avoid high-crime areas and avoid displaying your cash in public
  • Take a friend along with you to act as a deterrent to thieves
  • Don’t carry the money around with you for any longer than is necessary
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What are the steps to send money to Montenegro?

Although the transfer process varies from one provider to the next, you will usually have to:

  1. Sign up for an account. This is free to do online when you provide your full name, proof of ID and contact details.
  2. Enter your transaction information. The second step is to provide full details of the transaction you are planning. This includes the amount you’re sending, where you’re sending it to and in which currency.
  3. Finalise your transaction. Check over the details of your transaction and if you’re happy with the exchange rate and fee you will receive, pay for your transfer. Most providers also offer an online tracking service so you can check when your transfer has been completed.
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