When you first begin researching the best way to transfer money to Cyprus, the number of options available to you can appear daunting. We believe that transferring money through Xendpay is the ideal way to make a monetary transfer beacuse transfers made through us are straightforward and inexpensive. We offer competitive exchange rates for the euro and transfers at low fees and provide a convenient online payments service.
You could be sending money to a loved one or to a friend. Whatever your reason for transferring money to Cyprus, there are three main options to choose from. Will you transfer money to Cyprus through your high street bank, a Money Sending Bureau or a foreign exchange broker?
Looking at the most suitable option for your circumstances you can see you save money.
Using a high street bank to transfer money to Cyprus can be convenient if you need to transfer euros to a Hellenic Bank account for example.
However, there are some hidden charges involved in moving money this way. On top of the bad foreign exchange rates offered by your bank you can expect to pay per-transfer fees each time you move euros.
As a result of these extra fees, using a bank to transfer money to Cyprus can be quite expensive if you need to do so on a regular basis.
Unfortunately, Money Sending Bureaus will also impose these fees, which can be as high as ten or 15 per cent of the amount being transferred.
So while these bureaus can be useful for transferring money to somebody in Cyprus who cannot access a bank account, they too tend to be quite pricey.
Alternatively you can use a foreign exchange broker to transfer euros to Cyprus.
Brokers, like Xendpay, will generally offer you some very competitive euro exchange rates and you can move money quickly and easily online.
But Xendpay also offers a low fee service, helping you to keep the cost down when you transfer money to Cyprus.