Compare rates and fees for sending money to Iceland
There are multiple ways to easily send and receive money in Iceland but these will largely depend on the provider you decide to use.
What’s the Fastest Way to Send Money to Iceland?
The fastest way to send money to Iceland is through Western Union’s fast option. With Western Union’s fast option, you can expect your money to reach its Icelandic destination in a matter of minutes. Cash pickups are the fastest and easiest method to organize, while bank transfers take longer. The main downside to Western Union’s fast option is the fact that it is more expensive than most of the competition. You can always expect to pay more with Western Union.
What’s the Cheapest Way to Send Money to Iceland?
The cheapest way to send money to Iceland is through OFX. With OFX, you only pay a small percentage of each transaction. There are no upfront fees and the service is undoubtedly the cheapest on the market. Furthermore, it typically only takes a day or two for your money to reach its Icelandic destination.
The main drawback to OFX is that it carries a minimum transfer size requirement which is significantly higher than any of the competition. Despite this, their rates cannot be beaten, particularly when you send more money at once. The more money you send through OFX in a single transfer, the cheaper the transfer becomes.
What’s the Easiest Way to Send Money to Iceland?
The easiest way to send money to Iceland is through Wise. Wise is a peer-to-peer money transfer system that makes sending money to Iceland 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 Wise for the transaction
4) Wait a day or two for your money to reach its Icelandic destination
What’s the Overall Best Way to Send Money to Iceland?
The overall best way to send money to Iceland is through OFX. OFX offers you the best-rounded option, as their wait times and platforms are short and easy to use. When it comes to the rates you’re paying, if you send any larger amount of money, you can be sure you are getting the best rates by a large margin.
The USD to ISK exchange rate
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