How to send money to the Czech Republic
Learn how to send money to the Czech Republic with the best rate in a few easy steps
1. Check the CZK exchange rate against your sending currency
Even though the evolution of the currency market is uncertain, it never hurts to follow it to maximize how many the receiver of the transfer will get. Frequently check the evolution of the Czech koruna mid-market and transfer your money when the rate is at its highest level of the past days.
2. Find the best option by comparing all the available money transfer companies.
Monito lists 32 services offering money transfer services to the Czech Republic, such as TransferGo, TransferWise, Western Union, MoneyGram, Currencies Direct. Using the best service from the more than 32 available options is a sure way to save money.
3. Choose the best option that suits your needs
Select the money transfer service with the lowest total cost, the quickiest transfer options, most positive customer reviews, or the best compromise.
It is also important to take into account the pay-in and pay-out methods. You will often have money transfer providers allowing you to wire the money from your bank account, some will also accept credit and debit cards. To receive the money in Czech Republic, you often have to decide if you want the amount in CZK to be sent directly to the recipient's bank account or available for pick-up in cash at an agent location.
4. Sign up and get started wih your money transfer to the Czech Republic with the money transfer provider of your choice
The last step is to fill the sign-up form on the money transfer provider's online portal (you usually have to give some documents to confirm your identity), and provide the details of your transfer.