Find the best exchange rates and most convenient transfer solutions when you need to send money to Norway from the United States.
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- Enjoy competitive exchange rates.
- Get even better exchange rates with forward contracts and limit orders.
- Receive weekly updates on market exchange rates.
Compare international money transfers to Norway
Banks versus money transfer companies
You could use your bank to send an international money transfer, but if you want to save money on the transaction you should look elsewhere. Banks offer unimpressive exchange rates and high fees for sending money overseas.
You can find a much better deal if you approach a dedicated money transfer company to send your funds overseas. These companies, such as OFX and WorldRemit, offer better exchange rates and much lower fees than banks, allowing you to lessen the financial impact of your international transfer.
Case Study: Neil Sends Money to Norway
Neil is traveling through America on a year-long road trip with two friends. With his Norwegian girlfriend’s birthday fast approaching, Neil wants to send a gift of $1,000 to her in Oslo. Instead of sending the funds with his bank, which wants to charge a $50 transfer fee, Neil compares the services of two money transfer companies to see which one comes out on top.
|Money transfer company 1||Money transfer company 2|
|Exchange rate||$1 USD = $8.02 NOK||$1 USD = $8.14 NOK|
|Transfer method||Cash pickup||Bank account deposit|
|Processing time||15 minutes||1-3 business days|
|Amount received (in NOK)||$8,020 NOK||$8,140 NOK|
As you can see, while the first company provides rapid transfers, the second provider allows Neil to send an additional $120 NOK to his girlfriend.
How to compare transfer companies when sending money to Norway
- Exchange rates. The rate of exchange greatly influences just how affordable your transaction is, so compare each provider’s rates with those offered by the competition.
- Fees. You’ll usually need to pay a fee to send your funds, although some companies offer no-fee transfers when you send large amounts.
- Transfer methods. Common transfer methods include online or in-branch transfers, while other companies also offer over-the-phone transfers and mobile apps.
- Transfer options. Some companies will allow you to place limit orders and forward contracts, which allow you to lock in an ideal exchange rate now and transfer the money later, and sometimes schedule recurring payments for the weeks and months ahead.
- Turnaround time. Processing times vary from instant transfers (allow 10-15 minutes) to transactions that take several working days.
- Minimum transfer limit. Some providers impose minimum transfer limits which could even be as high as $500 or $1,000 — not ideal if you just want to transfer a small amount.
- Pickup methods. Bank account transfers and picking up cash from a transfer agent are the two most popular ways your recipient can access the cash.
- Customer service. You need to know that help will be available if you ever need it, so compare the customer service options offered by each company.
How to send money to Norway from America
- Bank transfers. A bank-to-bank transfer is a secure method of sending money overseas.
- Online money transfer providers. You can find a selection of trusted online transfer providers at Finder.com.
- Checks. This option is a slow but reliable transfer method.
- Money transfer companies with cash pickup options. These companies offer the convenience of fast transfers and multiple pickup locations.
- PayPal. PayPal offers secure international money transfers to Norway.
Foreign exchange rates explainedThe 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 January 2018, the U.S dollar was worth approximately 8.38 Norwegian Krone. 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.
Live USD-NOK exchange rate
How to send money to Norway
You’ll need to provide a range of relevant details on order for a money transfer provider to process your transaction. These details include:
- Your full name and contact information.
- A valid form of photo ID; for example, a driver’s license or passport.
- Your recipient’s name and contact information.
- The amount of money you wish to send and in which currency.
After you have paid for your transfer you will be given a reference number that can be used to track your transaction.
Emergency cash transfers in Norway
If you find yourself in the unfortunate situation where you need to send an emergency cash transfer to Norway — perhaps to help out a traveling friend or family member who has run out of cash a long way from home — you should be able to find a company that can get your funds to your beneficiary within minutes.
Just be warned, however, that you will need to pay extra for an urgent transfer in the form of higher fees and decreased exchange rates. That’s why you should always take a minute to carefully read over the details of your transaction and make sure you’re fully aware of exactly how much it is going to cost.
Tips for picking up cash in Norway
- Phone ahead to confirm an agent’s location and hours of operation.
- Only visit transfer agents in areas where you feel safe.
- Don’t let strangers see your cash.
- Visit a transfer agent with a friend so as to discourage would-be thieves.
- Deposit the funds you pick up into your bank account as soon as possible.