Compare the best ways to send money to Macedonia

The exchange rate plays a key role in determining how much MKD your recipient in MK will get.

For example, in the past 7 days average rate for USD to MKD was 52.8257 MKD.

Since USD-MKD exchange rates fluctuate with market conditions, waiting a couple of days could result in a better rate, giving your recipient more MKD.

If you need to make an urgent transfer, we recommend using Wise, which consistently offers the best rates for Denar transfers.

The most cost-effective way to fund your transfer to Macedonia is through a bank transfer with Revolut, which is 0.31% cheaper than the second-best service.

The way you fund your transfer to Macedonia impacts the cost, speed, and how much MKD the recipient will receive.

Based on our live data for a $7,000 transfer from the US to Macedonia, the following are your best options:

• Revolut with bank transfer deposit costs $21 and has a 0.2% markup.

• Xe with a debit card deposit costs $0 with 2.93% markup.

We advise against using debit card, as they tend to be the most expensive option for MKD transfers.

Credit card transfers may incur cash advance fees and higher interest rates on MKD, and are usually more expensive.

Whenever possible, avoid transfers via the SWIFT network to MK. SWIFT transfers to Macedonia are slower and come with higher fees.

Instead, look for a cheaper option such as ACH or account balance.

Money transfer companies often have min and max limits on how much MKD you can send.

The amount you transfer can also affect the fees and the MKD exchange rate you receive. For instance, Wise is the best choice for sending large amounts to Macedonia.

Additionally, there may be government-imposed restrictions, commercial limitations, and other factors that influence the amount of MKD you can send.

This is why it’s really important to compare your options when transferring money to Macedonia.

The speed of sending Denar to Macedonia depends on factors like the amount, timing, deposit, and withdrawal method chosen. Typically, faster transfers come with higher fees.

For example, based on a $7,000 transfer to Macedonia:

Use Xe for fastest transfers

Of the 4 companies offering MKD transfers, Xe consistently offers the fastest delivery times across all deposit methods.

For bank account & card deposits use Xe

Xe offers fast and affordable Denar transfers, with fees of around $0 for bank deposits and $0 for debit card deposits, plus a small 2.93% markup on top of the MKD rate.

For urgent transfers use cash transfer

If you need money urgently, we recommend cash pickup services through providers like Western Union or MoneyGram.

Avoid the SWIFT network

Avoid using SWIFT transfers for MKD transfers. Due to intermediary banks on the way to Macedonia, SWIFT is slower and comes with higher fees.

There are a few different ways to move money to Macedonia:

Money transfer services

You can transfer money online using an FX broker (managed service) such as OFX or an online-only company (self-managed) such as Wise.

Based on our analysis, Wise stood out as the top money transfer company servicing Macedonia.

Mobile apps and e-wallets

Most money transfer services that accept Macedonia offer mobile transfer apps, which often have better deals on MKD exchange rates.

You can check our guide on the best money transfer apps to find one that suits your needs.

Cash transfers

Cash transfers to Macedonia are sent in person through services like Ria Money Transfers, MoneyGram, or Western Union.

Transferring Denar as cash is almost always instant but requires the recipient to visit a nearby agent in Macedonia to collect the MKD.

Bank wire transfers

You can transfer Denar via your bank.

We strongly recommend not using your bank to wire MKD directly to Macedonia due to high fees and slow transfer times.

Instead, use the bank transfer deposit option with Wise and send MKD from there.

There are multiple ways to receive money in Macedonia. Picking the right one can save you on fees and speed up the MKD transfer process. Here are your options:

Deposit to the bank account

To deposit money directly into a recipient’s bank account in Macedonia, we recommend Revolut.

The card transfer will also land in the recipient’s bank account in Macedonia. Use Xe to deposit with a debit card at just $0 per transfer.

Cash pickup and delivery

If the recipient in Macedonia needs MKD urgently or doesn’t have access to a bank account in Macedonia, cash pickup or home delivery are good options.

Mobile and digital wallets

You can receive MKD directly into digital wallets like PayPal, though this often comes with more limitations and costs more compared to services like Revolut.

When sending money to a bank account or e-wallet in Macedonia, Denar will arrive without any involvement from the recipient.

However, if you're sending MKD as cash or transferring large amounts to Macedonia, the recipient may need the following:

• Government-issued ID: A national ID of Macedonia, a valid passport, or driver's license.

• Sender’s details: The sender's personal details such as full name and address.

• Transfer Details: The amount of MKD being received.

• Confirmation No.: This is usually given at the time of transfer.

• SWIFT Code / IBAN: Occasionally required for bank transfers.

The exact documents required may vary depending on the money transfer company and the transfer method used.

When sending bigger amounts to Macedonia, companies may request proof of funds such as bank statements and address verification with the utility bill in line with AML (Anti-Money Laundering) policies.

We recommend using Wise to send large amounts of Denar.

There may be tax obligations and government-imposed limits or restrictions on MKD transfers/payments to MK.

Some MKD transfers could be subject to taxes such as gift tax or commercial tax.

Even if no limits or taxes apply, certain MKD transfers (especially large sums of Denar) may need to be reported to the tax authorities in Macedonia or in your country.

When unsure, it’s best to consult with a tax professional in Macedonia or your home country to ensure compliance with the regulations.