The best, fastest & cheapest ways to send money to Norway

Pay attention to NOK exchange rates, as it determines how much NOK your recipient will receive.

For instance, today’s average USD to NOK rate is 10.0716 but the highest rate over the past 7 days was 10.1518 NOK/USD.

Your aim is to transfer when NOK reaches a higher value so waiting a few days could result in a better rate, hence more NOK received.

For urgent Norwegian Krone transfers, we recommend Moneycorp. It consistently provides the best NOK rates.

How you fund your transfer affects the cost, speed, and the amount of Norwegian Krone the recipient will receive.

The cheapest way to fund your transfer to Norway is with a bank transfer via Key Currency, which is 0.01% cheaper than the next cheapest service.

Based on our analysis of a $7,000 transfer from to Norway, here are the top options:

• Key Currency (bank transfer): Costs $0 + 0.25% markup on top of the NOK mid-market rate.

• Remitly (debit card): Costs $0 + 1.08% markup.

credit card is the most expensive deposit method for Norwegian Krone transfers, so we recommend avoiding it to maximize the amount of NOK received.

Credit card transfers may result in cash advance fees and higher interest rates when sending money to Norway.

Avoid sending NOK over the SWIFT network, as it's slower and more expensive. Instead, consider cheaper options like ACH or account balance for NOK transfers.

Money transfer companies often have minimum and maximum limits on how much NOK you can transfer.

The amount of NOK you send can impact the fees and exchange rate. Some services such as Wise may offer a better exchange rate for large NOK transfers.

There may also be government-imposed restrictions, commercial limitations, and other factors that may affect how much NOK you can send.

To ensure your money transfer to Norway goes smoothly, especially if moving large amounts of Norwegian Krone, use our comparison tool to find the service that best fits your needs.

The speed of sending Norwegian Krone to Norway depends on factors like the amount of NOK sent, the chosen deposit and withdrawal methods, and when you send NOK.

As a rule of thumb, faster transfers come with higher fees.

Let’s imagine you want to transfer $7,000 to Norway, here are your options:

• For the fastest transfers, use Currencyflow - Out of 16 companies serving Norway.

• For bank and card deposits, use Currencyflow - Currencyflow provides fast and affordable NOK transfers, with fees around $0 for bank account deposits and $0 for debit/prepaid card deposits, with a small 0.26% markup on the ‘real’ NOK exchange rate.

• For credit card transfers, beware of potential cash advance fees and higher interest rates from your credit card company.

• For urgent transfers, use cash transfer services - If you need Norwegian Krone to be delivered urgently, services like Western Union, MoneyGram, or Ria Money will have it ready within minutes for collection in Norway.

Avoid using the SWIFT network for NOK transfers, as intermediary banks slow the process. Instead, opt for faster and more cost-effective alternatives discussed above.

For NOK transfers, you have the following options:

1. Money transfer company - You can transfer money online using an FX broker (managed service) or a self-managed online company like Wise. Based on our analysis, Wise ranked as the top provider for sending money to Norway, appearing in 1 comparisons involving NOK.

2. Mobile apps and digital wallets - Many services available in Norway offer mobile apps, often giving transfer offers on NOK rates.

3. Cash transfers - You can send cash to Norway through services like Ria Money, MoneyGram, or Western Union. Cash transfers are typically instant, but the recipient must visit a local agent in Norway to collect the Norwegian Krone.

4. Wire transfers - While you can wire money to Norway through your bank, we suggest against it. Banks can charge up to $60 per transfer to Norway and add 5% - 6% to the NOK exchange rate. Instead, use bank transfer to deposit money to Wise and send NOK from there.

There are several ways to receive money in Norway, and choosing the right one will help the recipient get the most NOK. Mainly, these are:

• Deposit to bank account - For direct bank deposits in Norway, we recommend Key Currency. NOK will arrive directly to the recipient's bank account in Norway.

• Deposit to digital or mobile wallet - NOK can be sent directly to digital wallets like PayPal, though this option often has more limitations and higher costs compared to services like Key Currency. Recipients in Norway will need to transfer it to their account, which may incur more fees.

• Cash pickup or home delivery - If the recipient needs NOK urgently or doesn't have access to a bank account in Norway, cash pickup or door-to-door delivery is a good alternative. Be sure to check if these services are available in Norway. This will require the recipient to visit a nearby agent in Norway.

When making large NOK transfers or sending Norwegian Krone for cash pickup, the recipient may need the following:

• Government-Issued ID: This can be a non-expired and valid passport, driver’s license, or national ID of Norway.

• Sender’s Details: Full name, address, and other personal information.

• Transfer Details: The amount being received in NOK.

• Transfer number: This is given at the time of transfer.

• SWIFT Code / IBAN: This may be required for bank transfers to Norway from some countries.

*The exact documents may vary depending on the transfer method and service used.

For bank accounts, debit cards, or wallet deposits, the recipient typically doesn’t need to do anything. Norwegian Krone will arrive without their involvement.

For larger transfers, companies may request additional documents like proof of funds and address verification in compliance with Anti-Money Laundering policies.

We recommend using Wise for transferring large amounts of Norwegian Krone.

There may be tax implications and government-imposed limits on Norwegian Krone transfers.

Some Norwegian Krone transfers may be subject to gift tax, commercial tax, and other types of taxes.

Even if no immediate taxes or limits apply, larger NOK transfers may need to be reported to tax authorities in Norway or your home country.

To be fully safe, we strongly recommend consulting with a tax professional in either Norway or your home country to ensure compliance with relevant regulations and tax laws.