How to send money to the Faroe Islands
Discover how to send money to the Faroe Islands with the best exchange rate in four easy steps
1. Check the DKK interbank exchange rate against the currency you want to send
Making your transfer on the right day is a good way to optimize your transfer. Monitor the evolution of the Danish krone mid-market and transfer your money when the exchange rate reaches your target level.
2. Find the best option by comparing the available money transfer companies.
Monito only have a few money transfer providersto transfer money to the Faroe Islands (TransferWise, Xendpay) but we nonetheless suggest to compare the available solutions in order to get the best deal.
3. Choose the best money transfer company for your transfer
Which criteria is the most important for you? Price, speed of transfer, number of positive evaluations? Evaluate the advantages and disadvantages before making your decision.
Another important aspect is to consider the pay-in/out methods. You will often find money transfer services allowing you to send the money from your bank account, other providers will also give you the option to pay by debit and credit cards. On the recipient's side in Faroe Islands, look at different options if you need the amount in DKK to be transferred to your recipient's account or received in cash (from an agent location).
4. Sign up and start your money transfer to the Faroe Islands with the company of your choice
Go to the money transfer provider's website to complete the sign-up process - be aware you will often need to provide an offical ID and/or a proof of adress - and set upyour transaction.