How to send a fast, secure and affordable money transfer to Albania from the UK.
Whether for business or personal reasons, if you need to send money to Albania, you have the option of only a couple of providers. Albanian Leks are considered an exotic currency — which means it’s not a currency most forex providers deal in.
Popular Western Union and MoneyGram both have a presence in Albania and can send a cash payment quickly, but these speedy transfers can be expensive. An online specialist like Ria or World First could save you money with lower fees and stronger exchange rates. And if you’re in one of the 10 countries it services, Vodafone’s M-Pesa is an option.
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Compare international money transfers to Albania
Banks vs. money transfer companies
While you’ll be tempted to visit your bank for a wire transfer to Albania, a reputable money transfer service can typically offer better exchange rates, lower fees and faster delivery — often without you having to leave your home.
Banks don’t often publish exchange rates, but you can sometimes find the rate you’ll receive by logging in to your online bank account.
How much will I pay to send money to Albania?
Say that you want to send £1,000 to your sister, who’s traveling around Tirana for the summer. You might find that your bank doesn’t send money to Albania. Exploring alternatives, here’s what you’d pay for a bank account transfer with a big-name provider and an independent money transfer specialist like Ria.
|Big-name transfer provider||Online money transfer specialist|
|Exchange rate||1 GBP = 152 ALL||1 GBP = 158 ALL|
|Transfer speed||4 business days||In minutes|
|Transfer options||Cash pickup||Cash pickup|
|Total ALL received
||152,000 ALL||158,000 ALL|
With an independent money transfer service, you’d save £15 on the transfer fee alone. And with a stronger exchange rate, you’d get 6,000 more Albanian leks to your sister for cash pickup in minutes flat. That’s one happy sibling.Back to top
How do I compare money transfer companies?
When sending money to friends, family and businesses in Albania, you’ll want to compare these details to get the best deal for your situation.
- Exchange rate. Nearly all providers skew exchange rates for a profit. Compare what you’re offered against the mid-market rate — or the rate banks and transfer services use when they trade among themselves. The provider that’s closest to this rate is offering the better deal.
- Transfer fee. Find out whether the provider charges a flat fee or a percentage of your transfer. If you’re sending a large amount, ask whether you qualify for a fee-free transfer.
- Transfer speed. How long it takes for your recipient to get the money depends on a number of factors, including how you’re paying for it. While secure, a bank transfer will typically take the longest.
- Payment and delivery options. Can you schedule a transfer online, over the phone or through an agent? Does the provider accept payments by bank account, credit card or debit card? Can you schedule a cash pickup, or is a bank transfer your only option?
- Transfer options. Ask whether you can schedule payments ahead of time or protect your transfer against market fluctuations with a limit order or forward contract.
- Minimum or maximum amounts. Is your transfer amount within the range accepted by your provider?
- Customer service. Is there a team you can contact with questions, whether by phone, email or live chat?
What are the ways that I can send money to Albania?
- Bank transfers. Confirm whether your bank will allow you to send money to Albania.
- Money transfer providers. Providers like Ria and World First can help you quickly and easily transfer your money online.
- Providers with cash pickup. Western Union and MoneyGram allow you to send funds for cash pickup at agent locations.
- M-Pesa. M-Pesa is a safe, secure way to send, receive and store money through your mobile phone or an app. Top up your account at one of more than 287,000 agent locations and then send money to loved ones, who can visit an agent to withdraw their funds.
- Checks and money orders. Although not a quick option, you could send an international check overseas, obtained from your bank or US Postal Service.
Emergency cash transfers in Albania
You might need to send an emergency cash transfer to Albania — for example, if a relative traveling through the country loses their wallet. When you need to transfer funds urgently, review the exchange rate and transfer fee that will apply to your transaction.
The fastest possible transfer will often be your most expensive option, so compare the details of your transaction before you commit.Back to top
Tips for picking up cash in Albania
Whether you’re picking up cash in Albania or any other country, take a safety-first approach. Use common sense, such as keeping your cash hidden and depositing it with your bank as soon as possible. Taking a friend along with you to collect the funds is also a good idea.
How to send money to Albania
Whether you send money through your bank, a money transfer provider or any other option, you’ll need to first register for an account with a provider, supplying your name, address, contact details, proof of ID and information about your selected payment method.
Keep a record of any transaction reference number you receive so that you can review the progress of your transfer.
You have multiple options to choose from when sending money to Albania from the UK. To get the best value for money for your international money transfer, compare the benefits and features of competing services before selecting a provider.