How to send money to Bosnia and Herzegovina

Online transfers between the U.S. and Bosnia and Herzegovina don’t have to be expensive — compare your options to avoid fees.

Need to send money to Bosnia and Herzegovina? It doesn’t have to be a complicated or expensive process. In this guide you’ll learn how to compare the transfer fees and exchange rates of the options available to you to get the best deal.

From bank transfers and online transactions to options that allow recipients to collect your funds within minutes, sending an international money transfer to Bosnia and Herzegovina is quick and easy.

WorldRemit International Money Transfers

WorldRemit International Money Transfers

Send money to 110+ countries for bank deposit, instant e-wallet, mobile top-up or cash pickup at 30,000+ agent locations worldwide.

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  • Low upfront fees and exchange rates.
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  • Get cash to family and friends in minutes.

    Compare money transfer services to Bosnia and Herzegovina

    Select your currency and transfer amount, and compare the fees, rates and transfer times of different providers.

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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
    • Emigrating
    • Regular overseas payments
    • Risk management
    • Forecasting

    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Services Amount Received Description CTA Details
    World First Foreign Exchange
    USD 1,000 1 day USD 0.00 1.725 Online BAM 8,624 Exclusive offer: $0 transfer fee
    No-limit transfers with competitive exchange rates for more than 100 currencies.
    Go to site View details
    WorldRemit International Money Transfers
    USD 1 Within an hour USD 3.99 1.726 Online, Bank Account to Bank Account, Cash Transfer BAM 8,622 Use promo code FREE to send your first transfer for no fee, to over 110 countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site View details
    Western Union Money Transfers
    USD 1 Same day USD 20.00 1.716 Online, Phone, Agent, Bank Account to Bank Account, Cash Transfer BAM 8,545 Big name in easy money transfers, with cash pickup at more than 500,000 locations worldwide. Go to site View details
    Do you send money often? Track this rate with tailored alerts direct to your inbox

    Compare up to 4 providers

    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 exchanges the money into your desired currency, and then sends the money to your recipient in another country — in this case, Bosnia and Herzegovina.

    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

    We use our banks to take care of all our other financial needs, so surely we should use them when we need to send an international money transfer, right? Not necessarily. While major U.S. banks offer money transfer services, they usually present less competitive exchange rates coupled with high transfer fees.

    You can often save money by using the services of a dedicated money transfer company. These providers specialize in handling overseas money transfers, offering attractive exchange rates and affordable transfer fees. This translates to big savings for you.

    Case Study: Emina send money to Bosnia and Herzegovina

    After emigrating to the U.S. and becoming a successful doctor, Emina wants to send money to her family back in Bosnia and Herzegovina. She approaches her bank to make the transfer but quickly learns this is an expensive way to make an international money transfer. So she compares the services of two specialist money transfer providers.

    Money transfer service 1Money transfer service 2
    Exchange rate$1 = 1.783 BAM$1 = 1.76 BAM
    Transfer fee$45$3.99
    Amount received for $500 846.50 BAM 876. 01 BAM
    Transfer time24 hours1 to 2 business days
    Transfer optionsOnline, in personOnline
    Difference29.51 BAM

    As you can see, although money transfer service 1 offers a better exchange rate, money transfer service 2′s lower transfer fee makes it the better deal. Weigh the transfer fee and exchange rate carefully to make sure you’re getting the best deal.

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    How do I compare transfer companies when sending money to Bosnia and Herzegovina?

    Here’s how to make sure you get the best value when sending money to Bosnia and Herzegovina.

    • Exchange rates. Some services offer a lower fee, while others offer a better exchange rate. The idea is to find the combination that gives you the best all-over deal.
    • Pick-up methods. Money can be deposited directly into the recipient’s account or the recipient can collect the funds in person at a designated pick-up point.
    • Fees. Some services charge a transfer fee as well as a fee to convert your dollars into the local currency. Keep in mind that transfers to Bosnia and Herzegovina can be expensive.
    • Turnaround time. Transfer time differs from service to service, but most guarantee delivery within two to three business days.
    • Transfer methods. Most services facilitate transfers online, via telephone or in person at a branch.
    • 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.
    • Minimum transfer amounts. Most money transfer services usually have a minimum amount you can send, usually between $10 and $50.
    • Customer service. A good, reliable customer service department is essential. If you can’t get the information you need from the reference or tracking number, customer service should be able to answer your questions.
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    Foreign exchange rates explained
    The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it will yield more money when exchanging it in a country with a weak currency. For example, in December 2016, the U.S dollar was worth approximately 19 Mexican pesos. However, most countries’ exchange rates are flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.

    What are my options for sending money to Bosnia and Herzegovina from the U.S.?

    • Bank transfers. Although it’s the more expensive option, some major banks offer wire transfers to Bosnia and Herzegovina.
    • Money transfer providers. Online providers like WorldFirst and WorldRemit can help you transfer money quickly and easily.
    • Transfer companies with cash pickup. Providers like Western Union and MoneyGram offer this service — your recipient can sometimes pick up the cast within minutes.
    • PayPal. You can send money abroad using your PayPal account.
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    Emergency cash transfers in Bosnia and Herzegovina

    You might need to send an emergency cash transfer to Bosnia and Herzegovina — for example, if a friend traveling through the country loses their wallet. When you need to transfer funds urgently, your fastest possible transfer will often be your most expensive option. Carefully review the exchange rate and transfer fee against your needs so that you understand exactly how much it will cost you.

    Back to topFind a money transfer location near you

    Tips for picking up cash in Bosnia and Herzegovina

    Whether picking up funds in Bosnia and Herzegovina or anywhere else around the world, take a few simple safety precautions to prevent yourself becoming a target for thieves.

    • Call ahead. Learn the company’s business hours and choose a safe time to pick up your cash. Daylight hours are best.
    • Bring a friend. Carrying money when alone can be dangerous. Ask a friend to come along.
    • Deposit your money immediately. The likelihood of losing your money to theft or simple carelessness grows the longer you have it with you. Go straight to a bank and deposit your cash as soon as possible.
    • Keep your cash hidden. Place your money in your purse or wallet before leaving the office. Carrying cash out in the open could make you a target.

    What are the steps to send money to Bosnia and Herzegovina?

    Whether you send money through your bank, a money transfer provider or any other option, you’ll need to first register for an account with a provider, supplying your name, address, contact details, proof of ID and information about your selected payment method.

    Keep a record of any transaction reference number you receive so that you can review the progress of your transfer.

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