Best money transfer to Norway • Cost, duration, comparison

Norway is a country which is situated amongst the most spectacular fjords in the world. It is also the place where many of the world’s pharmaceutical giants are located.

With this comes the potential for transferring money online to Norway to provide once-off payments to third parties or to provide multiple transactions over an extended period.

When we look at once-off transactions, there are a few situations where this would be the most convenient way of sending money abroad.

Sending money in the case of an emergency
As a present

When there is the need for this type of transaction to Norway, it makes sense to look at a provider who specializes in once-off online money transfers.

There are also many scenarios which are more suited to multiple transactions over some time.

Comparison: Transfer Money to Norway

Winner

Wise

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.

Winner

transferGo

Send money very fast!

Save up to 90% compared to banks. No hidden costs. Large selection of countries.

Winner

currencyfair

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.

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These situations include:

Companies paying suppliers which are located in Norway
Employers remunerating employees situated in the country who offer their services remotely.

As with once of payments, it is also essential to choose companies or institutions which offer multiple online transactions.

When we consider the tax laws of Norway, it is important to use money transfer providers who are able to offer the best legal way of protecting the recipient of paying exorbitant fees on the money they receive. This is why we hope to assist you to find a cheap provider for a foreign bank transfer to Norway.

How can I send money to Norway?

There are quite a few ways of sending online money transfers to Norway. It is always necessary to look at each of these carefully before just jumping in and choosing the first agent you come across.

The obvious choice for many people still remains bank transfers. It is probably the most stable method, but it can also be the costliest.
There are online money providers who have agencies in Norway, making the transfer of money a breeze.
Many of the world’s money transfer companies who offer cash pickup options are active in Norway.
If you are a PayPal user, then sending money to a third party in Norway is seamless.

Bank (it’s expensive)

Transferring money online to Norway using interbank transfers is comfortable and convenient. The problem is that it is quite costly. The party receiving the funds must have a local bank account. In most cases, banks tend to charge the most for online transaction fees.

Also, banks tend to negotiate the worst foreign exchange compared with other role players in the online money transfer business.

Money transfer provider

When looking for a money transfer provider for online money transfers in Norway, you have quite a few to choose from. Most of them offer competitive transaction rates and short transaction time. Some providers are:

Wise
WorldRemit
OFX
XE
CurrencyTransfer
Venstar Exchange.

How much does it cost to transfer money to Norway?

The most expensive money transfer provider on our list is Wise at $7 per transaction. This is followed by WorldRemit for $3.99 per online transaction. The rest of the providers provide online transfers at absolutely no charge.

These include:

XE
OFX
CurrencyTransfer
Venstar Exchange

Duration of a money transfer to Norway

This is usually an important consideration if there is a time limit for getting the money to a third party in Norway. The providers on the list offer the following transaction time frames:

• Within an hour: WorldRemit
• 1 day: XE, OFX, Venstar Exchange
• 1 – 2 days: Wise, CurrencyTransfer

Conclusion on the money transfer to Norway

When choosing a mechanism for your online transfer of money to Norway, it is essential to weigh up all of your options. It is necessary to look at what your specific requirements regarding the online transfer are.

Only then it is possible to make an educated choice of what is the best way to go. Some of the factors which must always be part of the process are included as part of the concluding remarks for your convenience.

Exchange rates are a huge factor as they impact on the amount of money going to the recipient, excluding costs.
Transaction time is critical especially in cases of an emergency or where there is a time limit by when the money must be delivered to the recipient.
Have a close look at transaction fees as some providers have no charge at all, while others have exorbitant online transaction fees.