Getting a better deal when sending money to Estonia
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Compare money transfer services to Estonia
Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds to Estonia with our money transfer partners.
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.
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How to compare transfer companies when transferring money to Estonia
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.
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weak currency. Most countries’ exchange rates are flexible, which means they can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Work sent Laura Saar to the US, and she plans to live here indefinitely. While she’s here she needs to send $1,000 a month back home to be sure her aging parents have enough to get by comfortably. She compared two money transfer services to see which one giver the best rates to send money to Estonia.
|Big-name transfer provider||Online money transfer specialist|
|Exchange rate||1 USD = 0.8411 euro||1 USD = 0.8748 euro|
|Transfer speed||6 business days||4 business days|
|Transfer options||Bank account||Bank account|
|Total ALL received||841.12 euro||874.80 euro|
There’s a slight difference between the two services. The online money transfer specialist offers a better rate, giving her parents almost $34 more euro. And the transfer arrives two days earlier.Back to top
What are the ways that I can send money to Estonia?
- Bank transfers. Many major US banks will allow you to send money to Estonia.
- Money transfer providers. Providers like Ria and World First 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 US to Estonia.
- Checks and money orders. Although not a quick option, you could send an international check overseas, obtained from your bank or US Postal Service.
How to send money to Estonia
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.
Picking up cash
Whether picking up funds in Tartu, 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.
How safe is a money transfer?
When you use a reputable provider, your funds are safely tracked until in the hands of your recipient. There are <a href=”http://www.consumerfinance.gov/askcfpb/1507/what-are-new-federal-protections-consumers-who-send-money-internationally.html” target=”_blank” rel=”nofollow”>federal protections</a> in place that require banks, credit unions and money transfer companies to, for example, disclose all fees upfront and give you 30 minutes to cancel a transfer, assuming it hasn’t yet been picked up or deposited.
Emergency cash transfers in Estonia
You might need to send an emergency cash transfer to Estonia — maybe to help your family when they’re in need. 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
Overseas money transfers are easy, no matter which method you choose. But knowing how to compare your options gives you a leg up in terms of cost, rates and transfer speeds. An informed choice is your better choice.Back to top