How to send money to Latvia

Send money to Latvia without the hassle and stress.

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Transferring money between Hong Kong and Latvia isn’t difficult, but if you’re not sure what service to use, it can be more expensive that it has to be. Our guide will cover how to get the most euros out of your dollar and how you can reduce the large fees charged by banks.

Compare money transfer services to Latvia

Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds to Latvia with our money transfer partners.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 60 1 day HKD 0.00 0.108 EUR
1,084
Skrill offers easy transfers to many popular destinations, but keep an eye out for added fees Go to site Show details
USD 10 1 - 2 days HKD 90.00 0.109 EUR
1,078
以透明的匯率,低收費及低最低金額的網上服務作匯款。 Make online transfers with transparent exchange rates, low fees and low minimum amounts. Go to site Show details
USD 5 1 - 2 days HKD 25.00 0.108 EUR
1,075
新客戶可享有首三個月無限次免手續費匯款。New customers get 3 months of unlimited free transfers.
可用15+種貨幣匯款,享有超越銀行的匯率以及快速轉賬時間。 Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
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SGD 1 1 day HKD 48.00 0.109 EUR
1,083
你首兩次港幣$15,000或以下的匯款,手續費全免。Pay no fees on your first two transfers, up to HK$15,000.
象徵式收費以及中間價匯率,可匯款至高達30多個國家。 Transfer money to over 30 countries with nominal fees and the mid-market exchange rate.
Go to site Show details
USD 50 1 day HKD 35.00 0.109 EUR
1,084
快捷又簡單的國際匯款服務,大部分匯款收取固定的0.5%手續費。部分貨幣更不設保證金率。 Quick and simple international money transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies. Go to site Show details
USD 1 1 day HKD 0.00 0.107 EUR
1,072
非Finder客戶將獲得較昂貴的匯率。 Better exchange rates for Finder customers.
可用超過130種貨幣匯款。 Send money in more than 130 currencies.
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USD 1 Within an hour HKD 20.00 0.108 EUR
1,082
提供現金提取、銀行戶口之間轉賬與及Airtime匯款選擇的網上匯款服務,。 An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
USD 100 1 day HKD 15.00 0.107 EUR
1,070
非Finder客戶將獲得較昂貴的匯率。 Better exchange rates for Finder customers.
可用45種貨幣匯款。 Send money in 45 currencies.
Go to site Show details
GBP 5,000 1 - 2 days HKD 0.00 0.107 EUR
1,072
可匯款至20+個國家,無手續費。 Transfer money to 20+ countries with no transaction fees. Go to site Show details
USD 2,000 1 day HKD 0.00 0.107 EUR
1,072
TorFX保證提供最佳的匯率。需受條款約束。TorFX guarantees to match any competitor's exchange rate.
以30種貨幣匯款到全球。登記後,將會有一個客戶經理提供支持和引導。Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

How do international money transfers work?

An international money transfer allows you to send money to a recipient overseas. Generally, a transfer involves you providing funds to a bank or an independent transfer provider, which then sends the money to your recipient in another country — in this case, Latvia.

This can be done in person, over the phone, through a mobile app or online. You can use cash, a credit or debit card, or transfer funds from your bank account, which will then either be deposited into your recipient’s bank account or mobile wallet, or made available as cash for them to pick up at a location in their country.

Banks versus money transfer companies

You might think the best place to go when you need to send an international money transfer is to your bank. While your bank can certainly help you send money to Latvia, however, they won’t do it cheaply. High fees and low exchange rates are hallmarks of international transfers through banks, so you’re better off looking elsewhere for a more cost-effective solution.

Specialist money transfer companies are the best place to start. These companies, such as OFX and WorldRemit, offer fast, secure and much more affordable transfers to Latvia and around the world. Their fees are usually lower than the banks’, their exchange rates higher and the transactions can be handled from the comfort of your own home.

Foreign exchange rates explained

Finding a good exchange rate is of the utmost importance when transferring money to Latvia. This is because the euro is traditionally strong against the dollar, meaning your dollar will be worth less than one euro. However, this rate is flexible based on global economic stability and inflation. The amount a dollar is worth in euros changes on a daily basis.

How to compare transfer companies when transferring money to Latvia

By comparing a few elements of your transfer, you can ensure that you get the cheapest deal for your needs.

  • Exchange rates. Nearly all providers skew exchange rates for a profit. Compare the rate you’re offered to the mid-market rate — the rate banks and transfer services use when they trade among themselves — and look for the smallest margin between them.
  • Transfer fees. Find out whether the provider charges a flat fee or a percentage of your transfer. If you’re sending a large amount, ask whether you qualify for a fee-free transfer.
  • Payment and delivery options. Some transfer companies allow you to pay with a credit card online, by phone or through an app. Others offer agent locations for cash payments and pickups. Also ask how your recipient can receive your funds: bank account, cash pickup, mobile wallet and more.
  • Transfer speeds. If it needs to be there fast, companies like Western Union and MoneyGram allow for quick cash pickups, often in minutes. If you have more time, you’ll get better rates and fees with an independent provider.
  • Transfer limits. Your best option might depend on how much you want to send. For large transfers, weigh the best exchange rate — especially since providers encourage large transfers by offering low fees. For smaller amounts, consider the fees you’ll pay on top of the exchange rate.
  • Flexible transfer options. Ask whether you can schedule payments ahead of time or protect your transfer against market fluctuations with a limit order or forward contract.
  • Customer support. Most companies offer customer service by Internet chat, phone, in person or by email. Make sure help will be available if you need it.
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How to send money to Latvia

  1. Compare money transfer companies in the table above.
  2. Click Go to Site and register with the provider.
  3. Create your account, including your bank account information.
  4. Enter your recipient’s personal information and preferred method of pickup–bank account transfer or cash.
  5. Complete the transaction and pay.
  6. Save your tracking number to follow up on the progress of your transfer.

How safe is a money transfer?

When you use a reputable provider, your funds are tracked until in the hands of your recipient. There are multiple protections in place that require banks, credit unions and money transfer companies to disclose all fees and give you 30 minutes to cancel a transfer before it has been completed.

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How can I send money to Latvia?

  • Bank transfers. Most major banks in Hong Kong will allow you to send money to Latvia since they use a highly-traded currency.
  • Money transfer providers. Providers like Ria and TransferWise can help you quickly and easily transfer your money online.
  • Providers with cash pickup. Western Union and MoneyGram allow you to send funds for cash pickup at agent locations.
  • PayPal. You can transfer funds from your PayPal into the account of another user in Latvia.
  • Checks and money orders. Although not a quick option, you could send an international check overseas.
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Emergency cash transfers in Latvia

Although it’s completely possible to find a money transfer service that can quickly wire funds from your account in Hong Kong to someone else in Latvia, this is often the most expensive option. Unless it’s a true emergency–like a relative having an overdue bill–you’re better off finding a company that takes a couple of days rather than hours. Not only will it cost less in fees, but your recipient in Latvia will also receive more euros.

Picking up cash

Whether picking up funds in Riga or somewhere else in Latvia, you should take a few simple safety precautions to prevent yourself from becoming a target for thieves.

  • Call ahead. Learn the company’s business hours and choose a safe time to pick up your cash.
  • Bring a friend. Having someone with you while you’re picking up cash can help. Two sets of eyes are better than one, and you’ll be able to spot a potential threat faster.
  • Deposit your money immediately. The longer you walk around with a large amount of money, the more likely you are to lose it. Put it in your bank account or a safe at home as soon as possible to reduce the potential for loss.
  • Keep your money hidden. Store your money somewhere on your person, not in a purse or bag.

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