How quickly do I want the money to be there?
If transferred through a bank you can choose for urgent or not urgent.

• Not urgent is often the cheaper option. It takes a couple of days before the money is transferred. It may take a week or longer before the money has arrived at its destination.
• Urgent means that the money will usually be transferred within one day. Even then it may take a few days before it arrives at its destination.

Through a money transaction office the transfer is always quick and the money will be there the same day, often within 10 minutes. However, the costs in the Netherlands will be higher in most cases.

Do I take all costs for my own account?

In the case of banks you can choose: all costs for your own account: [COST OURS]. Or sharing the costs with the receiver: [COST SHARED].

If it concerns a gift, it is logical to also bear the costs, and to choose for [COST OURS]. You will pay the costs incurred in the Netherlands and those of the bank abroad.
In the case of [COST SHARED] you will only pay the costs of the bank in the Netherlands. The receiver will pay the local costs.

In some countries the costs of the local bank can be high. Find out which method is cheaper, [OURS or SHARED].

Also take into account the costs of travel for the receiver, if any. Ask the provider to give information about the nearest point of issue.

Bank account
If you want to transfer money through a bank, you must have an account with that bank. Or you can pay cash money to the bank and have it subsequently transferred. In both cases the receiver of the bank must have a (local) bank account. A transfer through an internet account is often less expensive.

Cash
You can pay cash money to a money transaction office or transfer money through the Internet without having a current account. In that case you must identify yourself.

Large amounts
Financial institutions are obliged to report transfers of large amounts to the authorities. For money transaction offices the limit is €2,000. – and for banks €15,000. -.

How do I wish to transfer the money?

• Through a form
• Through a web site
• Through an Internet bank account
• Through an office
• By telephone
• Through e-mail

There are all sorts of options. But not all providers offer all options. And the price of an option, too, may differ from provider to provider.
All those options determine the final costs. In most cases a bank transfer through the Internet will be much cheaper than a transfer in writing or at the counter. Look under Providers to compare those options.

Favourable or unfavourable
Apart from the costs of the transaction, the exchange rate will also determine the amount you are transferring. Exchange rates may vary strongly from bank to bank or from money transaction office to money transaction office. In most cases banks use a more favourable exchange rate than money transaction offices.

The Netherlands / the receiving country
Not all Dutch providers mention an exchange rate in the currency of the countries on this site. The amount remaining after deduction of the costs of the transaction in the Netherlands is transferred to the receiver.
The exchange rate then is determined by the office or bank where the money is collected by the receiver. So you can ask the receiver beforehand which exchange rate applies. You then can compare that exchange rate with the exchange rates on this web site. In this way you can see which is the best deal.

Per day
In some countries the exchange rate may differ greatly from day to day or from week to week. When you transfer the money on a day with a favourable exchange rate, the receiver will also receive more.

Total costs
The costs of transferring money to a foreign country consist of the costs of the transaction and the costs of the exchange rate.
The costs of the transactions have been subdivided into the costs in the Netherlands and the costs abroad.
In the Netherlands the costs of the transaction for the transfer of money have been determined on the basis of the amount and on the basis of the country.
In foreign countries this is not always done the same way. That also is true for the exchange rates.
So beware! Always ask the provider what the total costs are and which amount will be received by the receiver.

Costs of transaction [OURS] and [SHARED]
In the case of [COST OURS] the total costs are clear before the sending, but they can be very high for certain countries. In the case of [COST SHARED] you do not know exactly which costs will be charged to the receiver. In that case the total costs are not known. For that reason you pay high costs for certain countries when you choose for [COST OURS].

Always pay good attention in the case of [COST OURS]. And ensure that the receiver will not also have to pay an amount upon receipt.

Exchange rates
Some Providers change the exchange rates once a day, often around noon. Other Providers change the exchange rates continuously. That may involve that the amount you have transferred will be slightly less or more in the end. If the exchange rate is not known, you can not see whether it is more favourable to change the money in the Netherlands or in the country of destination. In that case you can find out through the receiver what the local exchange rate is and compare it to the exchange rate on this web site.

How often in a year do you transfer money?
The more often you transfer money in a year, the more money you will have to pay for costs of transaction. It is cheaper to transfer €1,000.- once than ten times €100.-. That may save some tens of euros.

Find out which Provider is able to transfer money to the place where you want the money to go to before transferring money. Some Providers have offices only in a few countries. And in the case of other Providers, the money can only be collected in the larger towns.

Of course there are other ways of transferring money.
Through a call shop or a travel agency. Or you allow a relative to take along your bank pas.
However, banks and money transaction offices are supervised by the Dutch government. So you are protected as a client. If you choose for the travel agency or the call shop around the corner you can do nothing if things go wrong.
Furthermore, in most cases official financial organisations are not more expensive than those around the corner. So think before you transfer money. Do not only take into consideration the costs of the transaction, but also the exchange rate and the amount that is actually received by the receiver.