Converting your money 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 spending 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 want 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 specialise 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 17 November 2020.
Digital money transfer service
€20 + additional correspondent bank fees
1 EUR = 4.32 QAR
1 EUR = 4.28 QAR
1 EUR = 4.08 QAR
Slowest and most expensive
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 242 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, though.
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 EUR-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 euro.
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 EUR-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, look for 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.
How to send an 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.
If you don’t have a bank account, you can still use cash transfer services to send money to Qatar. Similarly, a recipient can get the money with a cash transfer if they don’t have a bank account. These services are widely available around the world and although they’ll typically not be the cheapest available, they can be fast and convenient.
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. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Updated: 07 May 2021 13:18:07 UTC
Documents needed for sending to and receiving money in Qatar
To send money to Qatar from Ireland, 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 Ireland
To send money from Ireland to Qatar, you’ll need documentation and details that include:
Identification. Most services require a driver’s licence, passport or other government-issued ID.
Payment method. Your service may accept credit or debit cards, cash, bank accounts or 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.
It shouldn’t cost a fortune for you to send money to Qatar. Compare money transfer companies that specialise 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.
Zak Killermann is a writer at Finder. He’s ghostwritten hundreds of articles on fintech, finding his love for publication at St. Cloud State University. Traveling internationally for nearly half his life — and getting burned once by an OTC money exchange — Zak's vowed not to settle for anything short of the mid-market rate again.
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