Compare money transfer from Iceland

The best services for sending money from Iceland overseas

When you think of Iceland, massive glaciers and fiery volcanoes come to mind. Known as the land of fire and ice, the Nordic country is a treasure trove of tourist sites and museums that attract thousands of foreigners every year. While tourists are usually awed by Iceland’s attractions, they also love the country’s well-developed cashless systems. In Iceland, you can pay for almost anything using your debit or credit card, and most businesses accept cashless payment methods. If you’re a foreigner visiting Iceland for the first time, there’s no need to worry about expensive money changing agents; your debit or credit card will work just fine. Sending money across Iceland seems like a breeze, but what options does one have when transferring money out of the Nordic country?

The following money transfer methods come in handy when sending money from Iceland overseas.

How to transfer money from Iceland overseas online?

The Icelandic Krona is Iceland’s national currency. With a well-developed cashless system, it’s not a surprise that cash is not popular in Iceland. To send money out of the country, you have a range of money transfer options at your disposal. They include;

• Paypal. This US-based service allows you to transfer money out of Iceland. It’s easy and fast. All you need is a Paypal account that can be linked with a bank account. Once you’ve signed up for Paypal, you can send cash to any destination using your mobile phone or a personal computer. One important thing to note is that your recipient also needs to have a Paypal account.
• Credit and debit cards. Cards are a popular payment method in Iceland. One thing you’ll quickly notice is that most merchants and cash transfer services accept credit and debit cards, so sending cash to your loved ones is easy; you just swipe your card.
• Electronic cash remittance services. The most popular of these is WorldRemit, which allows you to send money out of Iceland. When your recipient needs to receive the cash in the form of US dollars, this service doesn’t charge any transfer fee. It’s best known for having some of the most competitive forex rates. Other notable methods include TransferWise, Skrill, ATL Money Transfer and TransferGo.
• Bank transfers. If you're into bulk transfers, bank to bank transfers could save you lots of time and money. As far as international bank transfers go, it’s always a wise move to transfer cash via international banks with subsidiaries in the destination country.
• Mobile wallet. For instant cash transfers, you can choose to send cash to your recipient’s mobile wallet. Most mobile operators, including Airtel, Vodafone, MTN and Tigo accept mobile payments from almost any part of the world, including Iceland.
• Cash pick up. Did you know you can send money from Iceland to a pick up location? Well, now you know. There are many cash pick up service providers operating in the Nordic country that you can use to transfer cash.

Which provider to use to wire money from Iceland overseas?

Why would you choose one money remittance service over the other? Well, there are many reasons that make each method unique. Some offer zero transfer fees for small amounts of cash, while others have the best forex rates. In the same light, some transfer methods are instant, while others take time. Bank transfers are best suited for bulk cash as they offer some of the most competitive rates for bulk transfers, while mobile wallets are famed for their immediacy. The same goes for cash pick up points. In the end, the method you chose will depend on your needs.

How much does it cost to send money overseas from Iceland?

Regardless of how badly you would like to transfer that money from Iceland overseas, you must consider the costs. After all, you don’t want a service that eats into your cash, leaving you with little to send. Do your homework well. Analyze all available options to get the one that best suits you. Take a keen interest in transfer fees, forex rates and hidden charges when selecting your ideal cash remittance service.

Our advantages

We know that sending money overseas can turn into a nightmare especially when you end up with the wrong channels of remitting cash. That’s why we offer a transparent tool to help you out when making that cash remittance. Here are our main benefits;

• Objectivity when it comes to choice of cash remittance services
• Transparent tool
• We only feature vetted companies that have cheapest rates and no hidden charges.