Sending money to Austria is very easy with the great selection of options available to you. Regardless of what you might specifically be looking for in an international money transfer, you should be able to find a good deal for Austria relatively easily.
The current exchange rate for the Euro (EUR) is 0.91922 EUR per American Dollar (USD) as of the time this was written. The EUR reached a high of 0.9258 EUR per USD and a low of 0.9130 EUR per USD during the last 90 days. The 90-day average exchange rate for the EUR was 0.9218 EUR per USD.
The average volatility rate of the EUR against the USD was 0.26% for the last 90 days. This is a normal volatility rate, and the EUR has been fairly stable for a long time now. You can reasonably expect moderate fluctuations in exchange rates to continue going forward, barring any unforeseen circumstances.
The fastest way to send money to Austria is through Western Union’s fast option. With Western Union’s fast option, you can expect your money to reach its Austrian destination in a matter of minutes. The only drawback to using Western Union over the competition is that Western Union is quite expensive. While the company can guarantee faster waiting times than others through their fast option, you will pay a higher price for it.
The cheapest way to send money to Austria is through OFX. With OFX, you generally pay very low rates, and this is particularly true when you send larger volumes at once. OFX doesn’t charge upfront, stated fees, but they instead charge small conversion fees based on the amount of money being sent. If you send a minimal amount of money through an OFX transaction, you’ll pay low rates. If you send a lot of money at once through OFX (especially USD$1000+), then you can rest assured you’re getting the best possible rates by a larger margin.
The only catch with OFX is that they have a minimum transfer size requirement which is much larger than those set by other money transfer services. This shouldn’t be a huge problem most of the time, but if you can’t abide by the minimum transfer size requirement, TransferWise offers great rates and could serve as a replacement to OFX.
The easiest way to send money to Austria is through TransferWise. TransferWise is a peer-to-peer money transfer system that makes sending money to Austria very easy. Once you set up your account, you just need to follow their simple process whenever you need to send money:
1) Tap in the amount of money to be sent
2) Tap in the destination for the money
3) Pay TransferWise for the transaction
4) Wait a day or two for your money to reach its Austrian destination
The overall best way to send money to Austria is through OFX. OFX offers the best rates available while also making the money transfer process relatively easy. The company focuses on international currency conversion, but also sends money at great rates. With OFX, you can expect the lowest costs and good service on a regular basis. The waiting times aren’t too bad either, at just one or two days before your money reaches its Austrian destination.
Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com