The official currency of this country is the Norwegian krone NOK which can be translated to “crown” in English. The neighbouring country of Denmark also uses this monetary value and this is because both countries joined together – along with Sweden – to create the Scandinavian Monetary Union in 1875. Although the SMU disbanded in 1914, each country retains the names of their respective currencies to this day.
Oil is by far the biggest export to come out of Canada and this industry funds a substantial section of the country’s revenue. For this reason, the value of NOK is largely influenced by trends in the crude oil market.
When considering how to send money Norway from Canada there are some key aspects of the transfer to consider.
The cheapest provider we found is TransferWise at 0.9% Above Mid-Market Rate.
If you’re looking for the best combination of price, speed, and reliability we recommend using XE when transferring CAD to NOK.
This means that by using XE for online money transfers to Norway from Canada, you are likely to save on transfer fees and benefit from fast speeds – so your recipient will get more money and have it delivered in less time.
Alternatively, if you are unable to access XE for any reason, our comparison engine has found Instarem and TransferWise also to be very good options when sending CAD – NOK.
This recommendation was updated one minute ago.
In order to avoid high fees, you should consider the cheapest way to send from Canada to Norway.
TransferWise has been determined by our comparison engine to be currently offering you the cheapest rates possible.
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When sending money from Canada to Norway, speed is one of the biggest factors you need to consider in terms of the service offered by different money transfer providers. Currently, XE is the fastest way to send CAD – NOK.
Most money transfer providers allow you to deposit and send money using various payment methods, but not all providers offer every option. Typically you’ll find the most common methods are bank transfers and card payments, but many providers also accept cash and some will even deliver funds straight to your recipient’s door.
To avoid high fees you can opt to use an online money transfer provider such as TransferWise to pay for your transfer to Norway.
With XE you can send money online to Norway using your debit card. But before making a payment, make sure you understand all the processing fees in place.
Bank and wire transfers are the most common ways of sending money Norway as they are secure, reliable, and convenient. However, they often come with the slowest delivery times in case speed is an important factor for you. You can use XE to send money using a bank or wire transfer at a great rate as long as you’re happy for your transfer to take 1-2 days.
If you want to make an international transfer using wire transfer, you will need to know the SWIFT/BIC code of your recipient in Norway. If you’re unsure what it is, check out our SWIFT calculator to figure out the correct SWIFT code in Norway.
When sending money to Norway from Canada using bank account transfer you are paying for the outgoing fees, flat fees, currency exchange rate markup, and sometimes an additional incoming transfer fee.
On the other hand, you usually only pay a sender fee and a small exchange rate markup when using online money transfer services such as XE, Instarem and TransferWise.
Before sending money to Norway from Canada, you should consider the following:
This one’s easy. Simply use our comparison table above to find the best provider to send CAD to NOK.
After that it’s just a process of making your transfer via the following steps:
Your recipient has a few methods available to receive your money in Norway. These will vary between providers, but it is possible to find services that will:
If your recipient is going to collect or have the money delivered to them in Norway, then they will usually need the following:
However, the amount of NOK you can receive from Canada will largely depend on the money transfer service you are using. There are providers that specialise in smaller remittance payments, and providers who specialise in larger transfers.
You should also check if there are any government regulations pertaining to the amount of NOK that can be received in Norway or sent from Canada before making your transfer.