Sending money to Cyprus is easy and you have a decent selection of options available to you. No matter what you’re looking for in a method to send money to Cyprus, you should be able to find an international money transfer provider that is right for you.
The current exchange rate for the Euro (EUR) is 1.021945 EUR per American Dollar (USD) as of the time this was written. The EUR reached a high of 1.0421 EUR per USD and a low of 1.0174 EUR per USD during the last 90 days. The 90-day average exchange rate for the EUR was 1.0309 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 Cyprus is through Western Union’s fast option. With Western Union’s fast option, your money should reach its Cypriot destination in a matter of minutes. Western Union is also one of the most ubiquitous money transfer services in the world, so finding a local branch shouldn’t be hard in most countries.
The main downside to Western Union’s fast option is that it is quite expensive.
The cheapest way to send money to Cyprus is through OFX. With OFX, you only pay a small percentage of each transaction. It should be noted that OFX does carry a minimum transfer size requirement which is significantly higher than the competition. Despite this, the percentage of each transfer that they charge you cannot be beaten. Also, the more money you send through OFX in a single transfer, the cheaper the transfer becomes. The result is rates that cannot be beaten, and it typically only takes a day or two for your money to reach its Cypriot destination.
The easiest way to send money to Cyprus is through TransferWise. TransferWise makes it easy to send money to and from any country with their intuitive peer-to-peer system. All you need to do is tap in an amount of money and a destination. After that, all you must do is pay TransferWise for the transaction and wait one or two days for the money to reach its Cypriot destination.
The overall best way to send money to Cyprus is through OFX. With OFX, you are getting the best-rounded deal. OFX charges lower rates than the competition and is quite easy to use. Their waiting times are relatively short as well.
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