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Known for its castles, its medieval history and its soaring mountains, Romania is an intriguing and fascinating country. And although this central European nation might seem an incredibly long way away from Australia, sending an international money transfer between the two countries is actually quite easy.
There are plenty of transfer providers who can manage your international transaction for you, but it’s important that you compare costs between providers and shop around to ensure that you get value for money.
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When they need to send money overseas, many people just head straight to their bank and assume that they will get the best deal available. Unfortunately, banks offer some of the worst value for money in the international transfer market. They charge high transaction fees and provide some truly disappointing exchange rates, so don’t be afraid to shop around in an effort to save money.
In recent years, the finance industry has seen the emergence of a large number of specialist money transfer companies. These businesses concentrate on foreign exchange and on sending funds around the world, and they offer far better exchange rates and typically lower fees than the banks. Check out the services these companies have to offer before choosing a money transfer provider.
Adrian’s marriage may have broken down long before he moved to Australia, but this Romanian expat still remains in close contact with his ex-wife in Bucharest. When she asks him for an urgent transfer of $1,000 he is happy to oblige, and he decides to compare the services of two online transfer companies to see which one can save him the most money.
As you can see in the table below, Adrian can send an extra 72 RON using the second transfer company and can also save AUD $10 in transfer fees.
| Money transfer company 1 | Money transfer company 2 | |
|---|---|---|
| Exchange rate | 1 AUD = 2.761 RON | 1 AUD = 2.833 RON |
| Transfer fee | $10 | $0 |
| Transfer method | Online transfer | Online transfer |
| Transfer time | 1-3 days | 1-3 days |
| Amount received (in RON) | 2,761 RON | 2,833 RON |
There are several companies that can help you send an emergency cash transfer from Australia to Romania should you ever need to, but be warned that these transfers are usually more expensive. High fees and lower exchange rates typically apply to urgent transactions, so it’s important that you review the full cost of your transaction before you hand over any money. If you fail to read the fine print, you could end up taking a nasty blow to your hip pocket.
If you need to send a cash transfer to Romania, Western Union and MoneyGram are two companies that can help. These money transfer providers operate hundreds of thousands of cash pickup branches around the world, including several in Romania, so your recipient can collect the cash you send from one of the popular branch locations listed below. Just make sure they have their ID and a transaction reference number handy when they visit a branch.
Although Australian travellers to Romania are only advised to exercise normal safety precautions by the Department of Foreign Affairs and Trade, keep the following tips in mind when picking up cash:
You will most likely need to follow these steps when you want to send money to Romania:
