Montenegro is a small country located along the shores of the Baltic Sea. Even though it may a small state, it still has a regular flow of visitors and business people across its borders. With this, the need for the international transfer of foreign money to the country online is always required.
It is possible that visitors to the historical Baltic Sea, might run out of cash and need a cash boost to carry them through the rest of their visit. There could even be individuals doing remote work for large corporations in other, more advanced countries.
Some companies could also have a unique product which is manufactured in this small country. Each of these situations calls for money to be transferred to Montenegro online to a third party.
Each country has its own legislation governing the exchange of foreign currency. It is therefore essential to know the laws and to find out which companies and providers are legal to operate in this tiny country.
Comparison: Transfer Money to Montenegro
First Transfer Free!
- Wise 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.
Send money very fast!
- Save up to 90% compared to banks. No hidden costs. Large selection of countries.
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.
How can I send money to Montenegro?
One of the fantastic things is that even though Montenegro is a small Baltic state, its monetary policy makes it possible for some service providers to have offices legally in the country.
This immediately increases the choice that you have of transferring money online to this tiny country. People in this country have some ways of receiving foreign exchange.
- A large number of money transfer providers offering a choice of options for picking up funds by third parties.
- The top two global cash pick up service providers in Western Union and MoneyGram.
- Bank transfers for sending vast amounts of money.
- Checks which have been verified internationally.
Bank (it’s expensive)
Interbank transfer is always the most natural choice to go for. It makes it much easier to send more substantial amounts of money than some of the limits set by other service providers.
There is also the surety that the money will arrive safely in the account of the third party located in Montenegro.
With all of this there are a few downsides:
- In many cases banks tend to negotiate less attractive exchange rates, meaning that the amount of money reaching your account will be less.
- Banks tend to have more expensive online transaction fees.
- These institutions are not as flexible when it comes to picking up options for the individuals accessing the money.
Money transfer provider
Some money transfer providers demand attention in this tiny Baltic Sea country.
How much does it cost to transfer money to Montenegro?
Duration of a money transfer to Montenegro
Only WorldRemit is able to guarantee funds within an hour. This is an important consideration if the money is required for an emergency.
The rest of the providers are able to have the funds available within the following time frames:
- 1 day: OFX, Venstar Exchange
- 1 – 2 days: Wise, CurrencyTransfer, InstaRem
- 3 – 5 days: XE
Conclusion on the money transfer to Montenegro
Finding the correct service provider to transfer your funds to Montenegro is extremely important depending on your needs and requirements.
When making this call, it is vital to give consideration to the following factors:
- Does the recipient need to have access to the money urgently?
- Is the desired mode of pickup by cash or bank deposit?
- Is it a once-off transfer or will it be multiple transfers over some time?
Only of these types of considerations will it be possible to choose the solution which satisfies most of your needs.