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Send money to Qatar
Here’s how you can send an affordable international money transfer to Qatar.
Converting your Canadian dollars to an exotic currency like the Qatari riyal may not be an easy process, but you can make things easier by comparing your money transfer options. Rather than spend time and hard-earned money on expensive fees and a long processing period, check out a few ways you can save on fees and get a better exchange rate when you’re sending money from Canada to Qatar.
Compare money transfer services to Qatar
Use our comparison table to compare the rates and fees of a few money transfer companies that send to Qatar. Enter the amount you want to send and click Calculate to see what your transfer could cost.
How to send money to Qatar online
Sign up and send money with a digital money transfer specialist in four steps:
- Sign up for a free account. Pick a provider and sign up for a free online account using your contact information, proof of ID and preferred payment method.
- Provide transfer details. Submit your recipient’s contact information and pick a delivery method. If transferring to a bank, you’ll need their Qatari bank account information.
- Confirm transfer details. Double-check your payment method, expected fees and destination.
- Save your receipt. Record your receipt’s confirmation number to track the progress of your transfer to Qatar. Some money transfer providers send a text or email when your transfer is complete.
What are the ways that I can send money to Qatar
- Bank transfers. Some major Canadian banks will allow you to send money to Qatar.
- Money transfer providers. Providers like XE and CurrencyTransfer can help you quickly and easily transfer your money online.
- Providers with cash pickup. Western Union, Ria Money Transfers and MoneyGram allow you to send funds for cash pickup at agent locations.
- PayPal. Electronic payment giant PayPal allows you to send money from Canada to Qatar.
- Cheques and money orders. Although not a quick option, you could send an international cheque or money order overseas, obtained from your bank or Canada Post.
What’s the best way to send money to Qatar?
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Qatar. Some offer cash pickup in as little as a few minutes, while others seamlessly transfer to bank accounts. Sending money through PayPal or your bank is also an option, but you’ll typically face higher fees and weaker exchange rates when going that route.
Digital money transfer services
Companies like XE specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s Qatari bank account, often in as little as a day or two.
Let’s crunch the numbers: Sending $1,000 to Qatar
Let’s say you need to send $1,000 to family in Qatar. Here’s what you might face as far as fees and exchange rates as of October 30, 2020.
The bank option ends up being both the slowest and gets the smallest amount of money to your recipient in Qatar. If you go with the digital money transfer service, your recipient ends up with QAR 472 more than the bank offers. If speed is crucial, or your recipient wants to pick up cash, a cash transfer can typically have your transfer to Qatar in as little as an hour. Confirm there is a cash pickup location near your recipient before sending.
|Digital money transfer service||Cash transfer||Bank transfer|
|Fee||$0||$5||$50 + additional correspondent bank fees|
|Exchange rate||1 CAD = 2.7632 QAR||1 CAD = 2.6314 QAR||1 CAD = 2.4116 QAR|
|Transfer speed||1-2 day||Same day||2-5 days|
|Amount received||QAR 2,763||QAR 2,618||QAR 2,291|
How to get the most out of your money transfer to Qatar
Weigh costs and fees against convenience to learn how to compare money transfer providers that send to Qatar to best meet your needs:
- Exchange rates. The CAD-QAR relationship doesn’t fluctuate often, but using a service that allows you to lock-in exchange prices may help you save money down the line if the Qatari riyal rises against the Canadian dollar.
- Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger CAD-QAR exchange rate.
- Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the amount of Qatari riyals you’re sending to Qatar.
- Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to Qatar.
- Sending limits. Comparing prices for one large transfer instead of many small transfers is typically easier, so picking the service you use based on how much you’re sending is a valid strategy for saving money.
- Transfer methods. Whether you want money sent to a Qatari bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.
Emergency cash transfer to Qatar
When urgency trumps cost to get your money to Qatar quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.
How to send money to Qatar without a bank account
Cash transfer services can help you if you don’t have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.
Qatar’s exchange rates explained
The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. Qatar’s exchange rate is officially pegged to the USD, meaning it should always remain between 1 USD = 3.6385 QAR and 1 USD = 3.6415 QAR . Factors that influence the exchange rate include interest rates, economic stability and inflation.
Documents needed for sending to and receiving money in Qatar
To send money to Qatar from Canada, you’ll need government-issued ID and other documents, while documents needed to pick up money in Qatar may differ by company.
Documents to send money from Canada
To send money from Canada to Qatar, you’ll need documentation and details that include:
- Identification. Most services require a driver’s license, passport or other government-issued ID. Some services allow you to send transfers without ID, but they may require your SIN.
- Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal cheques.
- Recipient information. Submit your recipient’s name as it appears on their ID, along with their phone number and Qatari bank account information.
Documents to receive money in Qatar
To pick up money in person, documentation can include:
- Transfer number. The person sending you money can forward the transfer’s confirmation details — called a PIN, an MTCN, a reference number or a tracking number, depending on the company.
- Government-issued ID. A Qatari Passport, Qatari ID or similar official ID may be required to pick up your transfer.
- Amount sent. You may need to know how much was sent, usually within 10% of the total.
- Sender’s information. Take along your sender’s full name, the sending country and their address, if known.
What to watch out for
When you send money to family members in Qatar, the money may be subject to taxes but it depends on a lot of variables. In general, you won’t have to report any amount of money to the CRA that you transfer out of Canada. But it’s still a good idea to keep all records of transfers just in case.
Sending your hard-earned money to Qatar shouldn’t cost a fortune. Compare money transfer companies that specialize in foreign transactions for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.
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