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How to Transfer Money Internationally

How to make international money transfers at lowest cost

Sending money around the world used to be slow and expensive. Not any more!

Did you know? The cheapest way to transfer money between countries is not with your bank!

We get a lot of queries from foreigners about to move to Norway or those already living here asking what is the cheapest way to transfer money to or from Norway. As such, we've learned a lot about the topic over the years.

A one-off transfer – or a regular one

The most typical scenario involves a one-off transfer of significant savings from your home country into a new Norwegian bank account. This might be the money you plan to use for a rental fee, a downpayment on a house purchase, or simply for living expenses until you have found a job and/or your first few salary payments are made.

It's a time of stress, so it makes sense that the first idea most people have is to call their bank. Don't do this! Although it's relatively easy, you are hit in two ways: transfer fees and an inferior exchange rate. Depending on the countries involved, banks can make up to 5% margin on the exchange rate, as well as charging a high fee for the service.

The fair alternative

We highly recommend Currency Fair, which is quick, cheaper, and transparent on fees. Sign-up today for a free quote and for a look around the service – there's no obligation to make a transfer.

Whereas, banks can charge in the region of 2-5%, Currency Fair charges less than 1%, AND gives you a much better exchange rate. When transferring USD $10,000 to Norway, Currency Fair can secure you an extra 2,240kr when compared to a typical bank.

Treat yourself with the savings

That sort of money will pay for a set of good quality winter clothing, hiking boots, or even a return flight from Oslo to one of Norway's most exciting destinations. It's basically free money. Once you've discovered how easy it is to transfer money with Currency Fair, you'll never turn to your bank again!

How it works

Curious about exactly how the service works? Check out this video to see the process explained in simple language, then sign-up for the service to take a look around and get a quote. Signing up is free, with no obligation to make a transfer.

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About the Author: Life in Norway Editorial Team

This post was written by more than one person on the Life in Norway editorial team.

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