Do You Have What It Takes Send Money to Montenegro Like A True Expert?

Information verified correct on April 25th, 2017


Researching your transfer options is the best way to save money when you need to send an international funds transfer to Montenegro.

Situated on the shores of the Adriatic Sea, Montenegro is famous for its medieval history, spectacular mountains and picture-postcard coastline. The Balkan nation was once a part of Yugoslavia and is home to a population of more than 620,000 people.

If you need to send money from Australia to Montenegro, do your bank balance a favour and shop around for the most affordable and convenient transfer option you can find.

When you need to send an overseas money transfer, you might think that the best way to complete the transaction is via your bank. But while banks certainly offer a convenient option, they don’t offer a cheap one — the low exchange rates and high fees they offer simply work out to be too costly.

Compare Money Transfer Services

Rates last updated April 25th, 2017
Description Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
TorFX International Money Transfers
TorFX International Money Transfers
TorFX guarantee to beat any competitor's exchange rate for a transaction
Conditions apply
AUD 200 1 day Online, Phone, Agent Go to site More
Exclusive: OFX (Ozforex) International Money Transfers
Exclusive: OFX (Ozforex) International Money Transfers
Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering exclusive exchange rates and $0 transfer fee on all transfers.
AUD 250 1 day Online, Phone, Agent Go to site More
Exclusive: CurrencyFair International Money Transfers
Exclusive: CurrencyFair International Money Transfers
Exclusive offer: 3 Free transfers (after your first transfer).
A peer-to-peer transfer service with a large range of currencies on offer.
EUR 8 2 days Online Go to site More
RationalFX International Money Transfers
RationalFX International Money Transfers
Transfer currency online 24/7 with a guaranteed exchange rates. No commission or hidden costs. GBP 100 3 - 5 days Online, Phone, Bank Account to Bank Account Go to site More
Instarem International Money Transfers
Instarem International Money Transfers
InstaReM is a simple, quick and cost-effective way to send money abroad with zero transaction fees AUD 50 1 day Online, Phone Go to site More
Currency Online International Money Transfers
Currency Online International Money Transfers
Enjoy regular scheduled transfers, one off transfers and a range of currencies. Also enjoy your first transfer for free. AUD 0 2 days Online, Phone Go to site More
Citibank Plus Everyday Account
Citibank Plus Everyday Account
A transaction account with free transfers to any country and no foreign transaction or international ATM withdrawal fees. AUD 0 Same day Online, Phone, Agent, Bank Account to Bank Account More
Compass Global Markets International Money Transfers
Compass Global Markets International Money Transfers
Send money in as little as 24-48 hours to a range of countries with Compass Global Markets. AUD 1,000 2 days Online, Phone Go to site More

Speak to a FX Expert

Enter your details to speak to a foreign exchange expert

By submitting this form, you agree to privacy policy
TorFX Logo

Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options. Our foreign exchange experts offer a best rate guarantee, are ASIC authorised and never charge transfer fees.

They can help you with all your needs including:

  • Buying property abroad
  • Emigrating
  • Regular overseas payments
  • Risk management
  • Forecasting

Banks versus money transfer companies

Instead of sending funds through your bank, compare your options to see whether you can find a more affordable deal from a specialist money transfer company, such as OFX or CurrencyFair. These providers trade high volumes of foreign currency and can therefore offer much better exchange rates than the banks. They also charge lower fees, so doing a quick comparison between transfer providers can save you a whole lot of cash.

Ivan Sends Money to Montenegro

Ivan’s wife Karina stayed behind in Montenegro while Ivan was posted to Australia to work for six months. With the bills piling up at home, Ivan wants to send his wife $1,000 to help her take charge of the family finances. Instead of taking the rubbish exchange rate offered by his bank, Ivan decides to compare two specialist money transfer companies to see if a better deal might be available.

As the comparison table below shows, while the first transfer company can save Ivan AUD $3 in transfer fees, the better exchange rate offered by the second company allows him to send almost €20 extra.

Money transfer company 1Money transfer company 2
Exchange rate1 AUD = 0.6067 EUR1 AUD = 0.6266 EUR
Transfer fee$0$3
Transfer methodOnline bank account transferOnline bank account transfer
Processing time1-3 days1-3 days
Amount received (in EUR)€606.70€626.60
Back to top

How do I compare transfer companies when transferring and receiving money via Montenegro?

  • Exchange rates. Check the company’s website to see what exchange rates they offer. How do those rates compare to the provider’s competitors?
  • Transfer fees. Make sure you’re aware of all the hidden fees and charges that apply when you send a transfer. Some companies charge no fees while others will slug you $60 or $70 in some cases, so comparing your options is essential.
  • Transfer methods. Some companies offer online or in-branch transfers only, while others also provide over-the-phone and mobile app transfers.
  • Transfer options. Can you place forward contracts and limit orders to get a better exchange rate? Is there an option to set up repeat transfers so you can save yourself time?
  • Minimum and maximum limits. If there are limits on the amount the company allows you to send per transaction, will those limits hinder your transfer plans?
  • Processing times. How long will it take until your beneficiary can access the money you send?
  • Pickup options. While some companies provide online bank account transfers, others offer transfers with a cash pickup option.
  • Customer service. Check out the company’s reputation when it comes to delivering prompt and helpful customer service. If you ever need assistance with a transaction, will you be able to quickly access the help you want?
Back to top

How do I send money to Montenegro from Australia?

  • Specialist transfer providers. Companies such as OFX and CurrencyFair offer fast and affordable overseas transfers.
  • Cash pickup transfer companies. Have a look online to see if there’s a Western Union cash pickup location close to your recipient in Montenegro.
  • Bank transfers. Compare the cost of sending the transfer via your bank with using a specialist transfer provider.
  • International cheques. A safe but slow option is to post an international cheque to Montenegro.

How do I receive money from Montenegro in Australia?

  • Specialist transfer providers. Compare transfer providers to see which ones offer transfers from Montenegro to Australia.
  • Cash pickup transfer companies. Western Union has multiple cash transfer locations in Australia and Montenegro.
  • Bank transfers. Your loved one in Montenegro could send a transfer from their bank account to your Australian bank account.
  • International cheques. International guaranteed cheques are another transfer option but they can be quite time consuming.
Back to top

Emergency cash transfers in Montenegro

When you need to get money to a friend or loved one in Montenegro as quickly as possible, an emergency cash transfer is the way to go. Some companies offer overseas transfers that can be completed within minutes, which is extremely convenient, but make sure you’re aware that these types of transfers will cost you more. High transaction fees and lower exchange rates usually apply, so review the full cost of a transaction before you commit yourself.

Cash pickup locations in Montenegro/ Western Union branches in Montenegro

Western Union operates a substantial cash transfer network that includes several locations in Montenegro. Some popular pickup locations are listed below - make sure you’ve got photo ID and a transaction reference number handy when you go to collect funds.

Western Union


  • Posta Crne Gore Doo
    Trg OruzjaKotor Posta Stari Grad Kotor, 85330 +381-11-3300300Open 7:30am to 8pm Monday to Saturday
  • Komercijalna Banka Ad Budva
    Trg Oruzja Bb Kotor,85330 +381-11-3300300Open 8am to 4pm Monday to Friday, 8am to 12pm Saturday


  • Posta Crne Gore Doo
    Bulevar S Kovacevica Bb Gintas Podgorica, 81000 +381-11-3300300Open 9am to 10pm Monday to Saturday, 9am to 8pm Sunday
  • Posta Crne Gore Doo
    Bratstva I Jedinstva BbPosta 8 Podgorica, 81000 +381-11-3300300Open 7:30am to 8pm Monday to Friday, 8am to 7pm Saturday
Back to top

Tips for picking up cash in Montenegro

Regardless of whether you’re in Montenegro or Melbourne, it always pays to take a few simple safety precautions when picking up cash:

  • Only visit a transfer agent in a safe location
  • Avoid high-crime areas and avoid displaying your cash in public
  • Take a friend along with you to act as a deterrent to thieves
  • Don’t carry the money around with you for any longer than is necessary
Back to top

What are the steps to send money to Montenegro?

Although the transfer process varies from one provider to the next, you will usually have to:

  1. Sign up for an account. This is free to do online when you provide your full name, proof of ID and contact details.
  2. Enter your transaction information. The second step is to provide full details of the transaction you are planning. This includes the amount you’re sending, where you’re sending it to and in which currency.
  3. Finalise your transaction. Check over the details of your transaction and if you’re happy with the exchange rate and fee you will receive, pay for your transfer. Most providers also offer an online tracking service so you can check when your transfer has been completed.

International Money Transfer Offers

Learn about our information service
TorFX International Money Transfers

TorFX guarantee to beat any competitor's exchange rate for a transaction
Conditions apply

Exclusive: World First International Money Transfers

Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.

Exclusive: CurrencyFair International Money Transfers

Exclusive offer: 3 Free transfers (after your first transfer).
A peer-to-peer transfer service with a large range of currencies on offer.

FC Exchange International Money Transfers

No transfer fee via online, branch or phone when transferring more than £10,000 or equivalent.

Ask a Question

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the privacy policy, receive follow up emails related to and to create a user account where further replies to your questions will be sent.

Ask a question