Find great exchange rates and pay minimal fees when you send an international money transfer to Moldova.
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Compare money transfer services to Moldova
How do international money transfers work?
Money transfers allow you to convert US dollars into a different currency and send it to someone overseas. Most companies have convenient websites and apps you can use to make your transfer, but there are also many that allow you to make a transfer over the phone or at a store. You’ll usually be able to pay in a variety of ways, including: cash, credit card, debit cards and bank account transfer.
Your recipient will be able to receive their funds as cash or directly into their bank account.
Banks versus money transfer companies
Banks can be useful for a variety of financial transactions, but you’re likely going to get a better deal when you choose a money transfer company. This is because banks charge high fees and offer their customers low exchange rates. If you want to send a large amount of money quickly, a transfer company will generally be your most efficient option.
Margaret Sends Money to Moldova
Margaret needs to send $1,000 to her son in Moldova — he’s enjoying a European vacation but is getting low on funds. She doesn’t want to settle for a poor exchange rate from her bank, so she decides to compare the prices of two money transfer providers to see which one offers the best value.| Money transfer company 1 | Money transfer company 2 | |
|---|---|---|
| Exchange rate | 1 USD = 16.50 MLD | 1 USD = 16.39 MLD |
| Transfer fee | $15 | $10 |
| Transfer method | Online, phone | Online |
| Processing time | 2 business days | 1 day |
| Amount received less he transfer fee | 16,500 MLD | 16,390 MLD |
Margaret opts to send money with the first transfer company because it offers a better rate and she can handle the higher fee.
How to compare transfer companies when sending money to Moldova
When you’re looking to compare money transfer companies, keep in mind the following points:
- Exchange rates. Small differences in exchange rates can make a big difference to the total amount of money you send, so check how each provider’s rates compare to the competition.
- Fees. Compare each company’s transfer fees to get a better idea of how much each transaction will cost. Some companies will also waive fees for large transfers.
- Transfer methods. Does the company offer multiple transfer methods, such as the ability to place transfers online and by visiting a branch?
- Turnaround time. Will the funds arrive in your recipient’s wallet in minutes, or will it be several days before they can access the cash?
- Minimum amount. What is the minimum amount you can transfer?
- Pickup methods. Some companies offer bank deposits only, while others will also allow you to make funds available as cash for collection from a transfer agent.
Foreign exchange rates explained
Exchange rate will impact how much your recipient will receive when you convert US dollars to Moldovan leu. In March 2018, the dollar was worth about 16.51 leu. This is because the dollar has traditionally been stronger against the leu. However, exchange rates are flexible, which means it can change from moment to moment.Options for sending money to Moldova from America
- Bank transfers. Check with your bank or credit union to find out how much it charges to send a bank transfer to Moldova and what your potential exchange rate will be.
- Online money transfer providers. There are multiple options when you want to send money through an online transfer company. Simply check our table above to find some reputable providers.
- Money transfer companies with cash pickup options. Western Union and MoneyGram have cash pickup branches throughout Moldova.
- Checks. You may consider sending a check, but this will be your slowest option, and you run the risk of it getting lost in the mail.
How to send money to Moldova
Although the transfer process varies depending on the company and transfer method you choose, you’ll typically need to follow these steps:
- Compare your money transfer options.
- Click Go to Site once you’ve made your decision.
- Create an account.
- Start a transfer to your recipient.
- Enter your recipient’s information and the amount you want to send.
- Pay for your transaction.
- Save your tracking number and receipt.
Tips for picking up cash in Moldova
Safety should be your top priority when you’re picking up cash in Moldova. Travel in daylight, preferably with a friend, and never take out large amounts of cash in public.
Emergency transfers to Moldova
If your recipient needs money as soon as possible, you’ll want to start an emergency transfer. These are possible, but it’s important that you closely examine the exchange rate you’re offered and the fee the transfer company is charging. Emergency transfers cost much more, so if your recipient can wait a day or two, you’ll both save money.
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