Monaco is a very easy country to send money to thanks to the excellent selection of options available to you.
The current exchange rate for the Euro (EUR) is 0.8514 EUR per American Dollar (USD) as of the time this was written. The EUR reached a high of 0.8598 EUR per USD and a low of 0.8514 EUR per USD during the last 90 days. The average exchange rate for the last 90 days was 0.8560 EUR per USD.
The EUR had an average volatility rate of 0.25% against the USD for the last 90 days. This is a normal volatility rate, and the EUR has been fluctuating similarly for a long time now. You can reasonably expect only normal fluctuations in exchange rates to continue going forward, barring any unforeseen circumstances.
The fastest way to send money to Monaco is through Western Union’s fast option. Western Union’s fast option will see to it that your money reaches its Monacan 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 usually expect to pay more with Western Union.
The cheapest way to send money to Monaco is through OFX. This is because OFX only charges you 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 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.
If you don’t like the minimum transfer size requirement, TransferWise offers a similarly cheap deal.
The easiest way to send money to Monaco is through TransferWise. TransferWise makes sending money to Monaco exceptionally easy. After you set up your account, all you need to do is follow these simple steps:
1) Tap in the amount of money to be sent
2) Tap in the destination
3) Pay TransferWise for the transaction
4) Wait one or two days for the funds to arrive at their Monacan destination
OFX also offers you the overall best way to send money to Monaco. OFX offers you the best-rounded option for sending money to Monaco, especially where cost is concerned. Their wait times are short and their platforms are easy to use, making OFX good enough at everything you need in a money transfer service. When it comes to the rates you’re paying, if you send a large amount of money at once, you can be sure you’re getting the best rates by a large margin.
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