FAQ About Sending Money to Cyprus

• What's the cheapest way to send money to Cyprus?

  The cheapest way to send money to Cyprus is through an online provider. Among the 57 available, Instarem was most often the cheapest provider (in 25.2% of the searches on Monito.com in the past 3 months).

• What are the best providers to send money to Cyprus?

  Here are the providers that were the most often the cheapest in the comparisons of the past 3 months on Monito.com:

  • Instarem (cheapest in 25.2% of the searches)
  • Profee (cheapest in 15.8% of the searches)
  • Revolut (cheapest in 12.1% of the searches)
• How much does it cost to send money to Cyprus?

  If you send money with the cheapest available provider, the total cost of a transfer to EUR was %COUNTRY_TO_CHEAPEST_PROVIDER_COST%% of the transfer amount (including all fees and exchange rates) over the past month. Of course, this figure will vary based on the sending country, the pay-in and pay-out options

  In contrast, the cost of the most expensive option was %COUNTRY_TO_MOST_EXPENSIVE_PROVIDER_COST%% on average.

• What is the cost of making an international transfer to Cyprus using my bank?

  The average total cost (including hidden exchange rate markups) of making a transfer to Cyprus with banks compared by Monito.com during the past months was 14.9% of the transfer amount. This is 6.2x more expensive than sending money with the cheapest online provider alternative.

• Is PayPal a good option for sending money to Cyprus?

  It’s possible to send money to Cyprus with PayPal, but it’s expensive. The average cost of transfers to Cyprus with PayPal is %COUNTRY_TO_PAYPAL_COST%%, whereas the cheapest online services have an average cost of %COUNTRY_TO_CHEAPEST_PROVIDER_COST%% of the amount you send.

• Is Western Union good for sending money to Cyprus?

  Western Union is a popular provider with the biggest agent location network. The average cost of online money transfers to Cyprus with Western Union* is 0.4% of the amount you send, whereas the cheapest online services have an average cost of 2.4%. Remitly is the provider that is most often the cheapest for money transfers to a cash pick-up location in Cyprus.
  
  *Sending money from physical agent locations with Western Union is usually much more expensive than using their online service.

• What's the cheapest cash pick-up provider in Cyprus?

  Over the past three months, the provider that was most often the cheapest for cash pick-up transfers in Cyprus was Remitly, with an average cost of 0.9% of the amount you send (which includes fees and exchange rate margins).
  
  The average total cost to send to a bank account rather than a pick-up location during the same period was 2.4%. Instarem was the provider most often the cheapest for transfers to bank accounts in Cyprus.

• What is the fastest option to send money to Cyprus?

  The provider that was most often the fastest on Monito's comparisons over the last three3 months was Profee (average fastest transfer time: Same day)