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Looking for the best way to send money from New Zealand to family, friends or businesses in Montenegro (or even to your own overseas bank account)?
Don't head straight to your NZ bank – compare specialist money transfer services instead. They nearly always offer better EUR exchange rates and lower fees, so for the same amount of New Zealand dollars you send, your recipient will receive more euros.
Of the companies we've compared, TorFX is among the cheapest, with competitive exchange rates and fees starting from $0. Need a really fast transfer? Xe can get money to your recipient in Montenegro within minutes.
Bank transfers are typically the cheapest way to get your money to Montenegro. TorFX and Xe have some of the lowest bank transfer fees of the brands we've compared.When you're hunting down the cheapest ways to send money to Montenegro, it's more important to look at the overall cost of your transfer. This has a couple of elements:
Some providers may charge the mid-market rate but add fees on top. Others may have very low fees but apply a markup on the exchange rate. This means it is important to compare exactly how many euros your recipient will end up with.
Many online providers can offer transfers to Montenegro within minutes, although you're likely to pay a premium for the convenience.Here are some of the fastest average transfer speeds to Montenegro:
Actual transfer times from New Zealand to Montenegro can depend on several different factors including transfer amount, payment method and currency.
The safest way to get your money to Montenegro is to use a provider registered with New Zealand's industry regulator, the Reserve Bank of New Zealand (RBNZ). All of the companies we've compared in our table are overseen by a local regulator and comply with the relevant laws and regulations in both New Zealand and Montenegro.
A great way to dive deeper is by reading our extended reviews of each transfer service and researching first-hand customer feedback on Trustpilot and similar platforms.
If you need to make a sizable money transfer to Montenegro, consider using a provider such as TorFX or OFX to benefit from its expertise in handling larger transfer amounts.Using a large transfer specialist can have the following advantages:
To send money to Montenegro, you'll need the necessary documentation, your recipient's details and a way to pay.
Nikola is working in New Zealand as a film producer and he stays in regular contact with his elderly parents back home in Montenegro. His parents need some funds to help pay off a mortgage, so Nikola plans to send them $2,000 from New Zealand.
He decides to compare a bank and a money transfer specialist to see which one can save the most money on his transaction.
|Bank||Money transfer company|
|Exchange rate||1 NZD = 0.55 EUR||1 NZD = 0.56 EUR|
|Transfer method||Bank account deposit||Bank account deposit|
|Processing time||2 - 5 working days||Next day|
|Amount received||1,102.55 EUR||1,121.35 EUR|
The money transfer company enables Nikola to send an extra €18.81, which is transferred straight to his parents' Societe Generale Bank Montenegro account.
When choosing a money transfer provider to send money from New Zealand to Montenegro, it's important to consider the cost, how you want your recipient to receive the funds and the turnaround time. Here are other features to review:
Compared to a month ago, the New Zealand dollar is a little stronger against the euro. Currently $5,000 is equivalent to €2,821.00, whereas a month ago, $5,000 was equivalent to €2,807.00. That's an increase of 0.5% over the past month.
But compared to a year ago, the New Zealand dollar is weaker against the euro. A year ago, $5,000 was equivalent to €3,047.00. That's a decrease of 7.42% over 12 months.
What's more important, however, is where the strength of the New Zealand dollar against the euro goes from here – which is harder to call. But whichever way it goes, shopping around has the potential to get you more euros for your New Zealand dollars and can help you get the best out of any market conditions.
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