How to Save on Fees and Send More Money to Montenegro

Information verified correct on January 20th, 2017

Montenegro

Here’s how to send a quick, affordable and secure money transfer to Montenegro.

When you need to get money to a loved one overseas, the last thing you want to have to deal with is navigating a potentially complicated and expensive process. Sending money from the United States to Montenegro doesn’t have to be expensive. Compare the transfer fees and exchange rates of the many options available to you to get the most euros for your dollar.

From bank transfers and online transactions to options that allow recipients to collect your funds within minutes, sending an international money transfer to Montenegro is easy. However, do your research and shop around for the best available deal.

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Rates last updated January 20th, 2017

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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 Services Online Transfer Fee Rate Amount Received
Payoneer International Money Transfers
Send Mass Payments To Your ... Send Mass Payments To Your Payees Worldwide
USD 20
OnlinePhone
Rates are always
changing, click to check
your price today
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WorldRemit International Money Transfers
An online money transfer service ... An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
Go to site More
World First Foreign Exchange
Exclusive offer: $0 transfer fee ... Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.
USD 500 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
Transferwise International Money Transfers
Make online transfers in a ... Make online transfers in a range of currencies and enjoy high maximum transfer amounts.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
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HiFX International Money Transfers
Transfer money between 20 currencies ... Transfer money between 20 currencies and enjoy scheduled regular transfers. No fee for transfers over US $5,000.
USD 100 2 days
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
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Currencies Direct International Money Transfers
$0 online transfer fee that ... $0 online transfer fee that you can access 24/7.
USD 100 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
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OFX International Money Transfers
Exclusive offer: Special exchange rates ... Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com exclusive exchange rates and $0 transfer fee on all transfers.
USD 150 1 day
OnlinePhoneAgentInternational Money Order...
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changing, click to check
your price today
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TorFX International Money Transfers
TorFX guarantee to beat any ... TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply
USD 150 1 day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
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Banks versus money transfer companies

Instead of sending funds through your bank, compare your options to see whether you can find a more affordable deal from a money transfer company, such as OFX or CurrencyFair. These providers trade high volumes of foreign currency and can therefore offer much better exchange rates than banks. They also charge lower fees, so doing a quick comparison between transfer providers can save you a whole lot of cash.

Case Study: Ivan Sends Money to Montenegro

Ivan’s wife Karina stayed behind in Montenegro while Ivan was transferred to the U.S. to work for six months. With the bills piling up at home, Ivan wants to send his wife $1,000 to help her take charge of the family finances. Instead of taking the poor exchange rate offered by his bank, Ivan decides to compare two money transfer companies to see if a better deal might be available.

As the comparison table below shows, while the first transfer company can save Ivan $3 in transfer fees, the better exchange rate offered by the second company allows him to send more euros and get it there more quickly.

Money transfer company 1Money transfer company 2
Exchange rate1 USD = 0.936 EUR1 USD = 0.945 EUR
Transfer fee$0$3
Transfer methodOnline, phoneOnline
Processing time2 days1 day
Amount received (in EUR)936 EUR942 EUR
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How do I compare transfer companies when sending money to Montenegro?

  • Exchange rates. Check the company’s website to see what exchange rates they offer. How do those rates compare to the provider’s competitors?
  • Transfer fees. Make sure you’re aware of all the hidden fees and charges that apply when you send a transfer. Fees vary from provider to provider, so comparing your options is essential.
  • Transfer methods. Some companies offer online or in-branch transfers only, while others also provide over-the-phone and mobile app transfers.
  • Transfer options. Can you lock in an ideal exchange rate now and transfer the money later, known as a forward contract? Does the institution offer limit orders, which allows you to take advantage of changing market conditions by executing the money transfer when a certain exchange rate is met? Can you schedule recurring payments?
  • Minimum and maximum limits. If there are limits on the amount the company allows you to send per transaction, will those limits hinder your transfer plans?
  • Processing times. How long will it take until your beneficiary can access the money you send?
  • Pickup options. While some companies provide online bank account transfers, others offer transfers with a cash pickup option.
  • Customer service. Check out the company’s reputation when it comes to delivering prompt and helpful customer service. If you ever need assistance with a transaction, will you be able to quickly access the help you want?
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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 Montenegro from the U.S.?

  • Specialist transfer providers. Companies such as OFX and CurrencyFair offer fast and affordable overseas transfers.
  • Cash pickup transfer companies. MoneyGram and Western Union are the world’s two largest providers of this service.
  • Bank transfers. Compare the cost of sending the transfer via your bank with using a transfer provider.
  • International checks. A safe but slow option is to mail an international check to Montenegro.
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Emergency cash transfers in Montenegro

When you need to get money to a friend or loved one in Montenegro as quickly as possible, an emergency cash transfer is the way to go. Some companies offer overseas transfers that can be completed within minutes, which is extremely convenient, but make sure you’re aware that these types of transfers will cost you more. High transaction fees and lower exchange rates usually apply, so review the full cost of a transaction before you commit.
Find a money transfer location near you

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What are the steps to send money to Montenegro?

Although the transfer process varies from one provider to the next, you will usually have to:

  1. Sign up for an account. This is free to do online when you provide your full name, proof of ID and contact details.
  2. Enter your transaction information. The second step is to provide full details of the transaction you are planning. This includes the amount you’re sending, where you’re sending it to and in which currency.
  3. Finalize your transaction. Look over the details of your transaction, and if you’re happy with the exchange rate and fee you will receive, pay for your transfer. Most providers also offer an online tracking service so you can check when your transfer has been completed.
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Tips for picking up cash in Montenegro

Regardless of whether you’re in Montenegro or the U.S., it always pays to take a few simple safety precautions when picking up cash:

  • Only visit a transfer agent in a safe location.
  • Avoid high-crime areas and avoid displaying your cash in public.
  • Take a friend along with you to act as a deterrent to thieves.
  • Don’t carry the money around with you for any longer than is necessary.
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US International Money Transfers Offers

Learn about our information service
WorldRemit International Money Transfers

An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.

OFX International Money Transfers

Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com exclusive exchange rates and $0 transfer fee on all transfers.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.

Transferwise International Money Transfers

Make online transfers in a range of currencies and enjoy high maximum transfer amounts.

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