There are several reasons why you may want to transfer money to Algeria, despite that, it worth doing a little background check on the best way of making the transfer.
This will help you save cost and avoid inconveniencing your beneficiary.
If you want to transfer money to Algeria then you have three options namely; bank transfer, use of foreign exchange broker or using money sending bureau.
Comparison: Best Transfer Money to Algeria
First Transfer Free!
- Transferwise is a very good provider for overseas transfers. The transfers are easy, convenient and secure. The most important thing is that the transfers are also much cheaper than with the bank.
Five Transfers Free!
- A world-class customer service, very good exchange rates and permanently favorable transfers abroad and to Germany convince. Only downside is the small selection of countries.
Send money very fast!
- Save up to 90% compared to banks. No hidden costs. Large selection of countries.
First Transfer Free!
- Azimo is a very competent partner for the international transfer. Azimo has a large selection of countries and the transfers are safe and cheap.
How can I send money to Algeria
There is a good number of providers who offer international money transfer that can help you transfer money to your believed ones in a click of a button. It is advisable to choose the best money transfer providers with competitive characteristics such as good exchange rates, short turnaround time and their transfer cost should be low and affordable.
Bank Transfer to Algeria is expensive: Algerian banks offer poor foreign exchange rates which make individuals lose a lot of money. The bank moves extra steps ahead by imposing high transfer costs, this makes a bank transfer to Algeria expensive just like in other African countries.
Money Transfer Provider
There are several money transfer providers internationally that can assist you with your need to transfer money to Algeria since they have their offices opperating in Algeria.
Before deciding on which money transfer provider to use you should be keen to identify the company that fully covers your money transfer concerns.
Some of the great companies that you may want to consider are:
How much does it cost to transfer money to Algeria
These different money transfer providers offer different money transfer cost. Below is a rough estimate of what each company might charge if you intend to send money to Algeria;
HSBC: HSBC charges 4GBP for every money transferred to Algeria using their platform
WesternUnion: WesternUnion will charge you about 4.9 GBP for each money transfer made to Algeria.
MoneyGram: For each money transfer made to Algeria via MoneyGram the individual will pay a transfer fee of 9.70 GBP
Duration of a money transfer to Algeria
HSBC: Its payment option is a bank transfer. Generally, amounts sent to Algeria using HSBC from other parts of the world will 3-5 working days for them to available to the beneficiaries.
WesternUnion: WesternUnion have three payment options namely; bank transfer, credit card, and debit card. While using WesternUnion, it will take approximately twelve hours for the money transferred to be available. But for credit and debit card the beneficiary will receive the money transferred in a few minutes time.
MoneyGram: MoneyGram has two payment options, that is credit card and debit card. Both credit card and debit card transfers take only a few minutes for them to be received by the beneficiary.
Conclusion on the money transfer to Algeria comparison
Just like most countries in the world, one can send money to their loved ones in Algeria with a lot of ease since there is an area many money transfer provider that offers their services in Algeria.
Money transfer in Algeria is also affected by issues like poor exchange rates and government regulations which dictates the acceptable foreign currency amount that can be sent at a particular time. For fast turnarounds, MoneyGram and WesternUnion are the best options.
I believe this article has given a clear insight into the best means to use to transfer money to Algeria.