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The best way to transfer money to Estonia bank from USA safely

DNBC Team DNBC Team

Jan 28, 2023

Table of Content

Estonia – the country possessing the most advanced technology in the world has become a destination for many young people as well as investors. Are you in another country like the US and want to support your loved one living in Estonia? Or are you an investor who wants to contribute capital to an ongoing project in this country? Transfer money to Estonia will become easier, and safer with the money transfer service.

The best way to transfer money to Estonia bank from USA safely

The best way to transfer money to Estonia bank from USA safely

What does Estonia have to keep so many foreigners?

The beautiful country of Estonia is located at the North Pole of the Baltic Sea – Northern Europe. With beautiful poetic beaches and developed forest space. Therefore, Estonia is considered a green country. In addition, Estonia is also known as the “digital country” with technological advancements that make the world stand out.

Let’s see what other interesting things this Schengen country has to offer!

  • Unique cuisine: rye bread, potatoes, pork, and dairy products become typical Estonian foods.
  • High-tech education system: Estonia has always been at the forefront of technology. It is the result of this country’s entrepreneurship. In addition, this is a country with a literacy rate of up to 100% for the elderly.
  • Use free transport in Tallinn: help this city grow and protect the environment.

3 reasons that many people choose the service to send money to Estonia

Saves a lot of time

Nowadays, saving time is a top priority, because many people are busy. They prefer to stay in one place and work on their phones rather than having to move. Technological advances are increasingly creating many money transfer services to help support users. That’s why advanced services are gradually being chosen by more people than traditional ones.

Save money on money transfer

The second utility to mention when using money transfer services is cost savings. The methods of money transfer via bank, post office, … are often quite expensive. Instead, you can pay cheaper fees when using money transfer services. For businessmen, investors often have to trade abroad. Choosing a money transfer service will save them a lot of money.

Transactions are highly secured

If the service providers want their services to work well, they must ensure the confidentiality of customers’ personal information in accordance with the law. So you can be completely assured when transacting through money transfer services. A small note for those who are preparing to make their first transaction through the service. Should choose reputable parties, used by many people.

Transfer money from the USA to Estonia bank and some notes to do it safely

To answer the original question “Are you in another country like the US and want to support your loved one living in Estonia?”. Notes you need to know when using a service to transfer money to Estonia from the USA.

The exchange rate between USA and Estonia

Previously, Estonia circulated its currency in Kroon. But from January 1, 2011, the EU accepted Estonia as the 17th country in the euro area. Currently, Estonia is still using the Euro to make transactions. The USA is known as an economically powerful country with the US Dollar (USD). The current exchange rate between the USD and the Euro is 1:1.03. The exchange rate will vary from time to time. You should check this rate or ask the service provider before sending money to Estonia.

Transaction fee

When using the money transfer service, the provider will ask for a small fee for the transaction. But you do not need to worry too much, because this fee is quite cheap. Much cheaper than transferring money via bank or post office. And there are also a variety of payment options for you to pay such as credit card, debit card, prepayment card…

Some personal information

The service provider will ask for some basic information about the sender and recipient. You can rest assured that this information will be kept confidential by the law. The purpose of providing this information is to facilitate the transaction. Some of the information you and the payee need to provide to the service party is as follows:

  • Name, phone number, and contact address of the depositor
  • Account number, name of the recipient’s bank/credit institution
  • The recipient’s residence permit in Estonia is valid. Because if you use an expired license, you will have some trouble receiving money

Conclusion

Thanks to money transfer services, now it is not too difficult to transfer money to Estonia from the USA or any other country in the world. Many people believe that thanks to this service, their work becomes easier. You just need to be smart in choosing a reputable and safe money transfer service for yourself. Any remaining operations for the transaction, the service will help you do it.

Note: The content in this article is for general informative purposes only. You should conduct your own research or ask for specialist advice before making any financial decisions. All information in this article is current as of the date of publication, and DNBC Financial Group reserves the right to modify, add, or remove any information. We don’t provide any express or implied representations, warranties, or guarantees regarding the accuracy, completeness, or currency of the content within this publication.