The money transfer route between Norway and Canada is very well-traveled. This is due to the bustling transactions in foreign exchange trades, education, export & import, property purchase….to/from both countries.
If you’re planning to transfer money from Norway to Canada, don’t skip this article as a helpful guide.
Who else wants to transfer money from Norway to Canada and vice versa?
Briefs of transfer money from Norway to Canada
Canada and Norway had a diplomatic relationship in 1942. Both enjoyed a balanced trading relationship, with merchandise imports from Norway at $1.2 billion.
Canada has a diversified economy. Over 3 million Canadian citizens are living and working abroad.
Canadian Dollar (CAD) has been put into official circulation since 1858. Making up around 2% of global reserves, CAD ranked the fifth for holding reserve currency in the world.
Norway decided to deregulate the procedure of sending and receiving money internationally. This allows money to be sent from/to Norway freely. It’s really great news for those who want to transfer money to Canada from Norway.
Norwegian Krone currency (NOK) is officially traded in Norway. NOK was the thirteenth-most-traded currency in the world in 2010.
So, there is a huge need to transfer money from Norway to Canada and vice versa. You can save money with each international payment from Norway to Canada.
Here DNBC’s experts will give deeper blog into how to safely and economically transfer money from Norway to Canada and how to transfer money to Norway.
Transfer money from Norway to Canada
In Norway, you have different options for sending money to Canada, so it’s not hard for the sender to transfer their money.
You can choose a bank, a money transfer provider/service….. Here are greater details for you:
Send money from Norway to Canada with the bank
Sending money via a bank is the safest and most convenient way. However, you will be surprised to see that a lot of banks won’t offer you a good exchange rate between CAD and NOK. In addition, they will charge some large transfer fees.
Thus, it’s advised to choose banks offering a high exchange rate before sending your funds to the first available bank.
Also, there are some banks operating in Norway with their affiliate office in Canada. You can open a bank account with that bank to make your beneficiary receive the money as you will make a bank transfer with smaller transfer fees.
Transfer money to Canada with an online money transfer provider
You know, nowadays online money transfers have become popular. Money transfer services have their availability all the time. This helps the senders more conveniently by using this method.
Just some simple clicks on laptops; the funds are on its way to the beneficiary.
Choose the money transfer service that can transfer the money faster and offer you the low transfer fees. It’s better to be offered a good exchange rate compared to other services.
Here are some typical providers that send money to Canada from Norway. A money transfer can be sent via DNBC Financial Group, CurrencyFair, Wise, Revolut, WorldRemit, TransferGo, PaySend, InstaReM, Xe Money Transfer.
DNBC Financial Group is a typical example. Their low fees & exchange rates are shown obviously. Remittance cost was cut down up to 90% when you send money internationally.
Also, the exact amount received by your beneficiary will be the same as your transfer setup. You will be satisfied with the fast remittance with affordable cost.
Other ways to transfer money from Norway to Canada
In addition to banks and online money transfer providers, you can pick a debit card or credit card, but their fees seem higher.
Other available payment options can be named here such as: Trustly, Mastercard, Visa, Apple Pay, Google Pay, Bank Debit (ACH)…You can learn more about each of them to pick the most suitable option for your demands.
How to transfer money to Norway with DNBC Financial Group?
There has been a huge demand for economic exchanges, real estate, paying for education, paying suppliers or transfering money home to loved ones in Norway.
In 2019, there was an increase in importing to Norway by six percent from the last year to NOK 756 billion. In 2021, Norway became the 7th largest partner for European imports of commodities.
So, it’s vital to put your trust in a suitable option if you want to transfer money to Norway.
Traditional methods (including banks, post offices, cash pickup…) are good options for transferring money. However, they tend to pay high fees and unfavorable exchange rates.
Don’t worry, you still have better options out there.
Online money transfer services offer a secure and economical way to send money to Norway from anywhere. Moreover, with a good online money transfer service, you will save a lot of money and time.
Here is the optimal solution for you with DNBC Financial Group. DNBC Financial Group will help you simplify your international payments.
In addition, you will drive down your cost of sending to Norway, collect payments from global customers, and manage the risk of currency fluctuations. Smart payments gateway allows you to get paid faster and safer, reduce churn and debit customers overseas.
At DNBC Financial Group, when transferring, you’re offered with low-cost, even no fees or no hidden fees.