Understand what your options are when transferring funds to Slovenia.
Famous for its soaring mountains, beautiful valleys and myriad snow activities, Slovenia is an excellent inclusion on any Australian’s European travel itinerary. There are also more than 15,000 Australians of Slovenian origin, so there’s no shortage of reasons why you might need to send money to Slovenia from Australia.
Before you commit to a transfer, however, make sure to hunt around for the best exchange rates and lowest fees for your transaction.
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Banks versus money transfer companies
Banks are the first option many people think of when they need to send money overseas, and this unfortunate decision often costs them dearly. Banks offer poor exchange rates and charge high fees on international money transfers, so you can end up paying a whole lot more than you need to in order to get your money where it needs to go.
But you can usually find a much better deal if you use the services of a company that specialises in handling international money transfers, for example WorldFirst or CurrencyFair. These companies offer significantly better exchange rates and also usually charge lower fees than the banks, and most providers offer the ease and convenience of online transfers.
Sue Sends Money to Slovenia
Sue wants to send $1,000 to her friend Michael in Slovenia to repay an old loan. She has an account with a ‘big four’ bank in Australia and considers using their services to send the funds, but when she sees the poor exchange rates on offer she decides to shop around for a better deal. She decides to compare her bank’s exchange rates and fees with those offered by a specialist online money transfer company.
As the table below shows, Sue can send more than €60 extra by using the money transfer company and she can also save $15 in transfer fees. This clearly demonstrates the benefits of comparing your options before you send money to Slovenia.
| Bank | Money transfer company | |
|---|---|---|
| Exchange rate | 1 AUD = 0.6048 EUR | 1 AUD = O.6352 EUR |
| Fee | $20 | $5 |
| Transfer method | Wire transfer | Online transfer |
| Transfer time | 1-3 days | 1-3 days |
| Amount received (in EUR) | €1,209.60 | €1,270.40 |
How do I compare transfer companies when transferring and receiving money via Slovenia?
- Exchange rates. Getting the best exchange rate for your transaction is crucial to ensure that more money arrives to your beneficiary, so compare the exchange rates for the currency/currencies you will most commonly transfer.
- Transfer fees. You should also examine the transfer fees a company charges in conjunction with its exchange rates, as a great rate may also come with a large fee attached. Also check to see whether the company has a fee-free threshold, allowing you to avoid extra charges when you send more than a certain amount of money.
- Transfer methods. Can you place transfers online, over the phone, through a mobile app and/or in branch?
- Available options. Some companies specialise in offering one-off transfers only, but others will offer flexible options such as recurring transfers, limit orders and forward contracts.
- Transfer time. Will your recipient be able to access the money you send within minutes, or will it be several business days before the funds arrive in their account?
- Minimum or maximum limits. Some transfer providers will impose minimum and maximum limits on the amount you can transfer, so check to see if those limits will restrict your transactions.
- Pickup options. Some companies offer cash pickup from branches in Slovenia and around the world, while others offer bank account transfers only.
- Customer service availability. Check to see whether quick and easy access to customer support will be available if you ever have a question regarding a transaction.
How do I send money to Slovenia from Australia?
- Specialist transfer companies. These companies focus solely on sending money internationally and can offer better exchange rates than the banks. Examples include WorldRemit and TorFX.
- Cash pickup transfer companies. Companies such as Western Union and MoneyGram operate extensive money transfer networks, allowing your beneficiary to collect the funds from agent locations across Slovenia.
- Bank transfers. Your bank can easily help you transfer funds around the world, but high transaction fees and low exchange rates can be costly.
- PayPal. You can use your PayPal account to send money to Slovenia.
- International cheques. You can obtain an international cheque from your bank and post it to Slovenia, but this time-consuming method can also be quite expensive.
How do I receive money from Slovenia in Australia?
- Specialist transfer companies. There are many specialist transfer companies who can help you convert Euros to Australian Dollars.
- Cash pickup transfer companies. Western Union and MoneyGram are two transfer services that offer cash pickup locations across Australia.
- Bank transfers. Bank transfers between Slovenia and Australia are simple to complete but can be costly.
- PayPal. PayPal’s international money transfer service allows you to receive funds from overseas.
- International cheques. You can cash an international guaranteed cheque you receive with your Australian bank.
Emergency cash transfers in Slovenia
If you ever need to send money between Australia and Slovenia as quickly as possible, for example to provide urgent funds for a cash-strapped relative, make sure you know the full details of the transaction. Banks and other money transfer providers will usually charge more for ASAP transactions through lower exchange rates and higher fees, so it’s important to make sure you know exactly how much the transfer will cost before you part with any cash.
Back to topCash pickup locations in Slovenia/ Western Union / MoneyGram branches in Slovenia
With hundreds of thousands of locations around the world, Western Union and MoneyGram offer fast and easy cash transfers. Your beneficiary can collect the cash in person within minutes, but they’ll need to take along a transaction reference number and photo ID to do so. You can find the details of some popular cash pickup locations below.
Western Union
Ljubljana
- Nova Ljubljanska Banka
Bratovseva Pl. 14 Ljubljana,
+386-01-5634610
Open Monday to Friday 8:30am to 5pm - Nova Ljubljanska Banka
Tavcarjeva 7 Ljubljana,
+386-01-3000511
Open Monday to Friday 8am to 5pm
Maribor
- Nova Ljubljanska Banka
Vetrinjska 2 Maribor, 2000
+386-02-2344600
Open Monday to Friday 8am to 5pm - Nova Kreditna Banka Maribor
Pobreska C. 18
Poslv.europark Maribor, 2000
+386-2-3207450
Open 9am to 6pm Monday to Friday
MoneyGram
Ljubljana
- Abanka Vipa D D
Slovenska Ulica 50
Ljubljana, 1000
13001500
Open 8:30am to 5pm Monday to Friday - Abanka Vipa D D
Kolodvorska Ulica 9
Ljubljana, 1000
14380880
Open 8:30am to 5pm Monday to Friday
Maribor
- Abanka Vipa D D
Prvomajska Ulica 26
Maribor, 2000
24622717
Open 8:30am to 5pm Monday to Friday - Abanka Vipa D D
Cankarjeva Ulica 6B
Maribor, 2000
22504870
Open 8:30am to 5pm Monday to Friday
Tips for picking up cash in Slovenia
The Department of Foreign Affairs and Trade classifies Slovenia as a safe country for Australian tourists to visit, but you should still take care when picking up cash following a money transfer. If possible, take a friend along with you and make sure to avoid any areas which are unsafe. Don’t carry a large sum of cash around for any longer than necessary and deposit the funds with your bank as soon as you can.
Back to topWhat are the steps to send money to Slovenia?
You will generally have to complete the following steps if you want to send money to Slovenia:
- Register for an account. This is usually free to do and will require you to provide your name, contact details and payment information.
- Provide transaction details. Now it’s time to enter the details of your transaction, including how much money you’re sending, where you’re sending it and in which currency. You’ll also need to supply your recipient’s name and their pickup location or bank account information.
- Complete your transfer. Once you submit and pay for your transaction, keep a hold of any reference number you receive so that you can track the progress of your funds.
