The Former Yugoslav Republic of Macedonia is located on the Balkans in Europe’s southeast. The landlocked country declared independence from Yugoslavia in 1991, and is famous for its lake-covered landscapes and towering mountain peaks.
If you need to send money to the Former Yugoslav Republic for any reason, it’s vital that you shop around and compare what different money transfer providers can offer. Comparing your options now can save you a lot of money in the long run.
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Most people approach their bank when they need to send money overseas, which is completely understandable when you consider the convenience of sending funds from your own bank account. The problem, however, is that banks charge high transfer fees and offer some of the lowest exchange rates you will come across.
Sending money via your bank often ends up being much more expensive than it should, so it pays to shop around and compare your bank’s services with those offered by specialist money transfer providers. These companies concentrate solely on sending money overseas, so they offer far cheaper transactions than any of the major banks. Their fees are lower, their exchange rates higher and they offer safe and secure transfers.
Vesna Sends Money to Macedonia
Vesna left Macedonia in the late 1990s to move to Australia permanently, and although she’s settled here she still stays in regular contact with her parents in Skopje. She regularly sends them money to help them keep their heads above water during their retirement, and when their home is damaged following a storm, Vesna makes plans to send them an urgent transfer of $1,000 to pay for repairs. She compares her current bank to an international money transfer service to see which one can offer a fast and affordable transfer.
As you can see, Vesna’s parents can receive an extra €24.34 using the service.
How do I compare transfer companies when transferring and receiving money via Macedonia?
Exchange rates. Shop around to see what exchange rates are available among different providers. Be aware that better exchange rates will sometimes also come with higher fees attached.
Transfer fees. You’ll usually need to pay some sort of fee each time you send a transfer, so compare the amounts charged by different providers. Some companies will also waive all fees on large transfers.
Transfer methods. Consider the choice of transfer methods at your disposal: online, over the phone, in person at a branch, or using a smartphone or tablet app.
Flexible options. Some companies let you get a better exchange rate by placing forward contracts and limit orders, while they may also offer you the flexibility of scheduling regular repayments in advance.
Turnaround time. While some companies offer transfers in as little as a few minutes, these urgent transactions usually cost more to send.
Transfer limits. Check to see whether the provider imposes minimum and maximum transfer limits on each transaction.
Pickup options. While some companies will allow your beneficiary to collect the cash you transfer from their nearest branch, others will offer transfers in the form of bank account deposits.
Customer service. It’s essential to investigate a company’s reputation for offering friendly and efficient customer service so that you can get a fast answer to your questions if you ever have a problem.
There are plenty of situations where you may potentially need to send a fast transfer to Macedonia, such as to help a relative settle an overdue debt. When you send an emergency transfer, however, make sure you’re aware that these transactions can be quite costly. High fees and lower-than-usual exchange rates apply, so double check all the details of your transaction before you decide to pay any money.
Cash pickup locations in Macedonia / Western Union / MoneyGram branches in Macedonia
As the two largest cash pickup transfer companies in the world, Western Union and MoneyGram both operate a number of cash pickup locations in Macedonia. Your recipient will need to take a transaction ID number and photo ID when they go to collect any funds, while phoning to confirm a location’s opening hours is also recommended. Some popular cash pickup locations are listed below
Nova Centrala Orce Nikolov 54 Skopje, 1000 +389-2-3167636 Open 8am to 4:30pm Monday to Friday
Lermontova 3 Skopje, 1000 +389-2-3290347 Open 8am to 7pm Monday to Friday, open 8am to 2pm Saturday
Petar Petrovic Njegosh Br.12 Bitola +389-47-254877 Open 8am to 7pm Monday to Friday, 8am to 4pm Saturday
Dobrivoje Radosavljevic 3 Bitola +389-47-203205 Open 8am to 4pm Monday to Friday, 8am to 1pm Saturday
Kapital Bank AD Bul. Jane Sandanski N. Loc. 26-1 6 Skopje, 1000 22403001 Open 8am to 6pm Monday to Friday, 9am to 2pm Saturday
Lok 18 Str Jhon Kenedi No. 5 Skopje, 1000 25201838 Open 8am to 10pm seven days
Grashe Dalmatinska 25 Bitola, 7000 47232399 Open 8am to 9pm seven days
Euro Pop 87
Str. Boris Kidric 24 Bitola, 7000 4760964 Open 8am to 9pm seven days
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.
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