When you want to send some cash to your peeps in Prague or a few bucks to your bros in Brno, you surely don’t want to deal with a lot of hassle and expense. Sending money from the United States to Czech Republic doesn’t have to be expensive if you compare the transfer fees and exchange rates of the options available to you. That’s right, Czech out a variety of providers and you can get the most korunas for your dollar.
Send money to the Czech Republic with CurrencyTransfer
Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Get the best foreign exchange rates available from this online marketplace
Fast 1-2 day delivery to bank accounts
Price-match guarantee if you find a better price elsewhere
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, Czech Republic. 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
Marek is a second-generation Czech-American. Recently his brother and sister-in-law moved back to the Czech Republic after both accepted positions in a prominent law firm in Prague. Marek has just become an uncle and would like to send cash as a gift for his new niece. He has the choice between two money transfer providers.
How do I compare transfer companies when sending money to the Czech Republic?
When comparing transfer services for getting money to the Czech Republic, it’s important to consider the following factors:
Exchange rates. The aim is to find a service that combines low fees and competitive exchange rates. This may impact on the delivery time, but your choice depends on how urgently the money needs to get to your recipient.
Pick-up methods. Depending on what best suits the recipient, you can choose to have the money deposited directly into their bank account or have them collect it at the agency.
Transfer methods. Can transfers be placed online, over the phone, by visiting a branch and/or by using a mobile app?
Turnaround time. Some services can get the money to its destination within minutes, while others can take up to five business days. Often you incur a higher fee for faster delivery.
Minimum transfer amounts. Most transfer services specify a higher minimum amount when sending to certain countries.
Customer service. Is help available when you have a question regarding a transaction? Compare the availability of customer support options and hours.
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. The Czech Republic’s exchange rates is flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.
You might need to send an emergency cash transfer to the Czech Republic— 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.
Zero fees on your first THREE money transfers
Send money with WorldRemit using the code '3FREE' and pay no fees on your first three money transfers
Julia Cameron is a writer and editor who has experience in finance, mergers and acquisitions, content marketing and immigration law. She has a passion for interior design and an affinity for Old Florida, where she lives with her family.
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