Find the best exchange rates and most convenient transfer solutions when you need to send money to Norway.
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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.
Neil Sends Money to NorwayNeil is traveling through America on a year-long road trip with two friends. With his 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 would 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 to 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. Since Neil has planned ahead, he decides to go with the larger amount so his girlfriend can really celebrate her birthday in style.
What are my options to send money to Norway?
- Bank transfers. A bank-to-bank transfer is a secure method of sending money overseas, but it can be costly when you aren’t exchanging major currencies.
- Online money transfer providers. Money transfer companies are another secure way of sending money to Norway. They often have lower fees and better exchange rates.
- 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.
How to send money to Norway
- Compare your money transfer options in the table above.
- Click Go to site and register with the provider.
- Start a transaction, supply your recipient’s information and pay for your transfer.
- Save your tracking number or receipt to check the progress of your transfer.
Foreign exchange rates explained
Exchange rate is used to determine how much one country’s currency is worth when converted to the currency of another country. The US dollar is strong against the Norwegian krone, which means you’ll be able to get more krones per dollar spent. As of September 2018, that amount was about 8.14 NOK per 1 USD. However, this number is flexible and may change daily based on inflation, interest rates and overall economic stability of the two countries.
Emergency cash transfers in Norway
If you find yourself in the unfortunate situation where you need to send an emergency cash transfer to Norway, you should be able to find a company that can get your funds to your recipient within minutes. Just be warned that you’ll need to pay extra for an quick transfer. This means higher fees and less favorable exchange rates. 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
Your recipient may need to pick up cash when you transfer money to Norway, and that means they face some extra risks. Discuss locations where a transfer may be safer to ensure your recipient doesn’t become a target for theft when collecting their funds.
- 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.