Even Better Ways To Send Money to Serbia

Information verified correct on December 7th, 2016

SerbiaIf you’re looking for new ways to send money to Serbia, start by comparing exchange rates, transfer fees and the kind of turnaround that best meets your needs.

Bordered by Hungary, Romania, Bosnia and Croatia, Serbia is a small country with a population of just over seven million. Serbia is a member of the United Nations and is currently a candidate for entry into the European Union.

Serbian immigration to Australia occurred in waves throughout the 20th century, particularly during and after the Second World War and the Yugoslav Wars. Serbian-Australians number around 350,000, most of whom are concentrated around Sydney, Melbourne and Perth. Cultural organisations like the Serbian Community Association of Australia and the Serbian Orthodox Youth Association help Serbian-Australians maintain links to Serbian culture, religions and traditions.

Banks versus money transfer companies

Andrej’s parents decided to move back to Belgrade after 25 years in Melbourne. They’ll be moving back to the family house, but it needs extensive renovation. Andrej, his sisters and their cousins want to help with expenses, so they’re looking for a quick, cheap way to send money to the Motherland.

Money transfer service 1Money transfer service 2
Exchange rate$1 = 0.61€$1 = 0.63
Transfer fee$0$3
Amount received for $500305€$312
Transfer time1 to 3 business days1 to 3 business days
Transfer optionsBy phone, onlineOnline
Difference$7

How do I compare transfer companies when transferring and receiving money via Serbia?

When considering money transfer options, it’s important to keep the following factors in mind.

  • Exchange rates. Besides what you pay for the transfer service, it’s important to choose a service that offers a competitive exchange rate.
  • Pick-up methods. Check with your recipient to see which pick-up method would suit them best, especially if they’re not mobile or far from a pick-up point.
  • Fees. Even if a service offers a competitive exchange rate, make sure that you aren’t being charged service or conversion fees for the transfer. Sometimes a good exchange rate is negated by additional fees.
  • Bank to bank transfers. If your recipient has a bank account with the same bank, you can effect a same-bank transfer, usually for no fee.
  • Turnaround time. Depending on how urgently your recipient needs the money, you can choose between services that offer instantaneous delivery (Western Union, for example) or those that make money available within one to three working days.
  • Transfer methods. The quickest way to send money is usually via online transfer, but you can also choose transactions handled over the phone, in person or through your bank.
  • Transfer options. Besides just once-off transfers, you can also choose to set up regular scheduled payments, forwards contracts and market orders.
  • Minimum transfer amounts. Some services require that you send a minimum amount, usually between $10 and $50. In some cases, fees are waived for transfers over a certain amount.
  • Customer service. It’s imperative that the money transfer service has a reliable and efficient customer service.
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How do I send money to Serbia from Australia?

Below are a few money-sending options to consider when sending money to Serbia.

  • Xendpay. This money transfer service will send money directly to your recipient’s bank account.
  • Western Union. Your recipient can collect the deposit at a Western Union agent or withdraw it from his or her bank account.
  • Banks. Sending money between banks usually implies higher fees, but if your recipient has a bank account within the same bank, the transfer will be effected without a fee.
  • Exchange4Free. This services facilitates bank-to-bank transfers for zero fees charged no matter the amount. Be sure to compare exchange rates and delivery time. You can effect a transfer online or by phone.

How do I receive money from Serbia in Australia?

In the same way that recipients in Serbia can access their deposits quickly and easily, sending money from Serbia to Australia is facilitated by a number of online transfer services.

  • Worldremit. This transfer service allows you to receive a transfer in Australia within 10 minutes of the transaction being effected. Recipients can collect their money at a MoneyGram pick-up point.
  • Paypal. One of the most recognisable and reliable money transfer services, Paypal facilitates instantaneous transfers between Paypal accounts and to bank accounts.
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Emergency cash transfers in Serbia

If you find yourself in an emergency while in Serbia, there are a few ways to have money sent to where you are.

  • Pick-up options. Transfer companies like Western Union and MoneyGram have pick-up points from which you can collect your deposit. Money is usually available within minutes of the transaction.
  • Online transfers. These money transfer companies facilitate quick transfers between bank accounts, usually within one to three business days.
  • Travel insurance. Your travel insurance policy will cover you for loss and theft while on holiday. Get in touch with your insurer, but make sure you’re eligible for cover before submitting a claim.

Cash pickup locations in Serbia/ Western Union / MoneyGram branches in Serbia

If you’re sending money via Western Union or MoneyGram, here are a few pick-up points from which to collect your deposit.

Western Union

  • Banca Intensa

    Vase Pelagica 48b
    Belgrade 11000
    +381 11 3300300
    Open Monday to Friday 9am to 4:30pm

  • Posta Srbije

    Vase Pelagica 48b
    Belgrade 11000
    +381 11 3300300
    Open Monday to Friday 8am to 2pm

  • Erste Bank AD

    Bul Oslobodjenja 76
    Bulevar Oslobodjenja Br 5
    Novi Sad 21000
    +381-11-3341190
    Open Monday to Friday 7:30am to 7pm,
    Saturday 8am to 1pm

  • Eldorado 6

    Bulevar Oslobodjenja 27
    Novi Sad
    +381-11-3334999
    Open Monday to Sunday 7am to 11pm

MoneyGram

  • Alpha Bank 106

    Vojvode Stepe 112
    Belgrade, 11010
    +381 11 2492880
    Open Monday to Friday 9am to 5pm

  • Sberbank Belgrade Ustanicka

    Ustanicka 264
    Belgrade, 11000
    +381 11 3049579
    Open Monday to Friday 9am to 5pm,
    Saturday 10am to 1pm

  • Alpha Bank 300

    Bulevar Oslobodijenja 30
    Novi Sad, 21000
    +381 21 4770248
    Open Monday to Friday 9am to 5pm

  • EFG 203
    TC Dalton Bul.oslobodjenja 95
    Novi Sad – Dalton, 21101
    +381 21 4725516
    Open Monday to Friday 9am to 5pm
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Tips for picking up cash in Serbia

While the Department of Foreign Affairs and Trade advises a normal degree of caution while in Serbia, the number of migrants entering the country can lead to delays on public transport and at the borders. While crime is relatively low, you should still be vigilant while travelling, especially if you’re collecting money from a pick-up point. Be sure to get there during opening hours and try to take someone along.

What are the steps to send money to Serbia?

Some online services require that you open an account before effecting a transfer. You’ll be asked to be supply the following:

    • Your contact details
    • Email address
    • Bank account information
    • Your recipient’s personal and bank account information

Once the transfer has been completed, you’ll receive a tracking number to use as reference when making enquiries.

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