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How to send money to Montenegro

Here’s how to send a quick, affordable and secure money transfer to Montenegro.

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There are lots of companies and banks that offer money transfers to Montenegro, and by comparing exchange rates and fees, you can find the best deal for your next transfer.

Compare international money transfers to Montenegro

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 60 1 day HKD 0.00 0.105 EUR
1,051
Skrill能令你輕鬆匯款至多個熱門目的地,可是要留意其加上的手續費。 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 0.105 EUR
1,045
以透明的匯率,低收費及低最低金額的網上服務作匯款。 TransferWise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details
SGD 1 1 day HKD 48.00 0.105 EUR
1,050
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。 SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
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USD 5 1 - 2 days HKD 25.00 0.104 EUR
1,042
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。 CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
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USD 50 1 day HKD 35.00 0.105 EUR
1,051
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。 InstaReM offers simple 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 0.104 EUR
1,039
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。 WorldFirst sends 60+ currencies at competitive rates with no fees. If you find a better eligible quote, WorldFirst will beat it.
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USD 1 Within an hour HKD 20.00 0.105 EUR
1,049
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,。 WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups. Go to site Show details
USD 100 1 day HKD 15.00 0.104 EUR
1,037
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。 OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
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GBP 5,000 1 - 2 days HKD 0.00 0.104 EUR
1,039
可匯款至20+個國家,無手續費。 CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace. Go to site Show details
USD 2,000 1 day HKD 0.00 0.104 EUR
1,039
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。 TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
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Compare up to 4 providers

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

What’s the best way to send money to Montenegro?

Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Montenegro. 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 WorldRemit and OFX specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s Montenegrin bank account, often in as little as a day or two.

Cash transfers

Services like MoneyGram and Western Union allow you to transfer cash for pickup at a local branch in Montenegro— often in 15 minutes. While it’s a fast way to send money, you’ll pay for the convenience in weak exchange rates and high fees.

Banks

Montenegro uses the euro. The euro is a popular currency, so your local bank may be able to exchange them. If your bank supports the euro, beware of high fees and wide margins on the exchange rate compared to digital and other options when sending a wire transfer to Montenegro.

Let’s crunch the numbers: Sending $10,000 to Montenegro

Let’s say you need to send $10,000 to family in Montenegro. Here’s what you might face as far as fees and exchange rates as of 13 Dec, 2020.

Digital money transfer serviceCash transferBank transfer
Fee49.80 HKD8.00 HKD$65 + additional correspondent bank fees
Exchange rate1.00 HKD = 0.106295 EUR1.00 HKD = 0.1055 EUR1 HKD = 0.09282 EUR
Transfer speed1 dayMinutes2-5 days
Amount received1,057.66 EUR1,054.57 EUR922.15 EUR
Verdict
  • Best value
  • Fastest
  • Slowest and most expensive

The bank option ends up being both the slowest and gets the smallest amount of money to your recipient in Montenegro. If you go with the digital money transfer service, your recipient ends up with 135.51 EUR 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 Montenegro in as little as an hour. Confirm there is a cash pickup location near your recipient before sending.

How to send money to Montenegro online

Sign up and send money with a digital money transfer specialist in four steps:

  1. 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.
  2. Provide transfer details. Submit your recipient’s contact information and pick a delivery method. If transferring to a bank, you’ll need their Montenegrin bank account information.
  3. Confirm transfer details. Double-check your payment method, expected fees and destination.
  4. Save your receipt. Record your receipt’s confirmation number to track the progress of your transfer to Montenegro. Some money transfer providers send a text or email when your transfer is complete.

What are the ways that I can send money to Montenegro

  • Bank transfers. Many major banks will allow you to send money to Montenegro.
  • Money transfer providers. Providers like CurrencyTransfer 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. Electronic payment giant PayPal allows you to send money from the HK to Montenegro.
  • Checks and money orders. Although not a quick option, you could send an international check overseas, obtained from your bank or HK Post.

How to get the most out of your money transfer to Montenegro

Weigh costs and fees against convenience to learn how to compare money transfer providers that send to Montenegro to best meet your needs:

  • Exchange rates. The HKD-EUR relationship fluctuates often, so using a service that allows you to lock-in exchange prices may help you save money down the line if the euro rises against the HK 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 HKD-EUR 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 euros you’re sending to Montenegro.
  • 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 Montenegro.
  • 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 Montenegrin 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 Montenegro

When urgency trumps cost to get your money to Montenegro 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 Montenegro without a bank account

Cash transfer services can help you if you’re unbanked or marginally banked. 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.

Montenegro’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. Montenegro’s exchange rate is flexible compared to the HK dollar, and the HKD-EUR relationship typically changes daily. Factors that influence the exchange rate include interest rates, economic stability and inflation.

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Updated: 25 Feb 2021 16:19:21 UTC

Documents needed for sending to and receiving money in Montenegro

To send money to Montenegro from Hong Kong, you’ll need government-issued ID and other documents, while documents needed to pick up money in Montenegro may differ by company.

Documents to send money from Hong Kong

To send money from HK to Montenegro, you’ll need documentation and details that include:

  • Identification. Most services require a driver’s license, passport or other government-issued ID.
  • Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal checks.
  • Recipient information. Submit your recipient’s name as it appears on their ID, along with their phone number and Montenegrin bank account information.

Documents to receive money in Montenegro

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. An Montenegrin Passport, Montenegrin ID or similar official ID that is valid in the EU 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.

Bottom line

Sending your hard-earned money to Montenegro 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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