Send Money To Estonia

Estonia flagPay attention to this Estonia Money Transfer Guide if you want to know how to get the most out of your currency.

Start getting used to pay less, get better currency exchange rates and quicker delivery for your money when sending to or from Estonia. Our reviewed Foreign Exchange companies will make you forget about going to the banks for this kind of services.

The Guide’s Topics:

Best Company To Send Money To Estonia

Payment Facility

Summary

Recommendation

MoneyCorp logoMin. Transfer: £ / € 50.
Transfer: Online or by Phone.
Wire Fees: None.

Expected Rates*:
- GBP: 1.1589 EUR to 1.1706 EUR
- USD: 0.9327 EUR to 0.9421 EUR
- CAD: 0.7131 EUR to 0.7203 EUR
MoneyCorp
MoneyCorp Review
worldfirst-logoMin. Transfer: £ / € 1,000.
Transfer: Online or by Phone.
Wire Fees: None.

Expected Rates*:
- GBP: 1.1594 EUR to 1.1694 EUR
- USD: 0.9332 EUR to 0.9412 EUR
- CAD: 0.7135 EUR to 0.7196 EUR
WorldFirst
WorldFirst Review
transferwise logoMin. Transfer: £ / € 1.
Transfer: Online or using the App.
Wire Fees: 0.5% from amount and minim £2

Expected Rates*:
- GBP: 1.1765 EUR
- USD: 0.9469 EUR
- CAD: 0.7240 EUR
Transferwise
Transferwise Review
Estonia BankBig International Transfer Fee + Currency Exchange Fee. Double The Cost Of Commercial FX.
paypal logo2.9%+ Transfer Fees, and 2.5% more for Currency Exchanges. Quick but expensive. Paypal

* Expected Rates reflect our rate expectations based on our research. We do not guarantee accuracy. For some companies we used a range of rates because they offer wholesale rates for large trades and higher rates for small trades.

Supported Countries & Payment methods

MoneyCorp is one of the biggest and oldest FX company in the market having over 35 years of experience. So you can rest assure that you will receive a great service if you choose to work with them because it’s clear that they do it the right way; you can’t survive in a competitive business without a well put together product.

CurrenciesDirect will help you send money across the globe with ease. Why? Because they work with over 100 currencies so you don’t have to wonder if your destination is covered or not. For a free quote, be sure to visit their website and fill their form.


Best Company to Transfer Money from Estonia

Service Provider

Summary

Recommendation

MoneyCorp logoMin. Transfer: £ / € 50.
Transfer: Online or by Phone.
Why Them? 2 Year Forward Contracts. Operating since 1979. £11Bn in Annual Turnover
MoneyCorp
MoneyCorp Review

Supported Regions & Currencies

The European Union’s Anti money laundering laws apply to all of the member countries, such as Estonia. Because of this, both of the companies we listed above can provide their services across the country not matter the region or city.

Currencies: Our companies work everyday with many clients from various countries so having access to a multitude of currencies is a must. It will rarely be the case where an exotic currency might not be available, that’s why we encourage you to go to their website and get a free quote.

But other than that, any major destination will be covered. From countries like Canada, France, Spain, South Africa, China, United States, Switzerland or Israel, which are usual destination for money transfers, to some of the less chosen regions like Sri Lanka, Hong Kong, Japan, UAE, Morocco, Brazil or New Zealand.


Today’s Foreign Exchange Rates for EUR

GBP to EUR – Pounds to Euro; 10,000 GBP is 11,765.0000 EUR

EUR to GBP – Euro to Pounds; 10,000 EUR is 8,499.7875 GBP

EUR to CAD – Euro to Canadian Dollars; 10,000 EUR is 13,813.0047 CAD

CAD to EUR – Canadian Dollars to Euro; 10,000 CAD is 7,239.5545 EUR

AUD to EUR – Australian Dollar to Euro; 10,000 AUD is 7,269.5255 EUR

EUR to AUD – Euro to Australian Dollar; 10,000 EUR is 13,756.0561 AUD

EUR to USD – Euro to US Dollars; 10,000 EUR is 10,560.9860 USD

USD to EUR – US Dollars to Euro; 10,000 USD is 9,468.8129 EUR

EUR to CHF – Euro to Swiss Franc; 10,000 EUR is 10,654.4836 CHF

CHF to EUR – Swiss Francs to Euro; 10,000 CHF is 9,385.7200 EUR

NZD to EUR – New Zealand Dollar to Euro; 10,000 NZD is 6,798.6131 EUR

EUR to NZD – Euro to New Zealand Dollar; 10,000 EUR is 14,708.8823 NZD


Transferring Money to a Estonian Bank Account

Estonia is a member of the European Union and of the Eurozone. The Euro has been the national currency since 1 January 2011.

Real Estate: Real estate activities in Estonia made up 10.5% of the country’s GDP in 2014 and, despite slow economic growth, 2015 is set for a property boom as construction activity is increasing and the property demand is rising. Estonia is also the second best performer European country with Tallinn leading with a growth of 12.59% in 2014, after an impressive increase of 16.55% in 2013.

Relocating To Estonia?

If you consider moving into Estonia and live there as an expat, you may find the following information helpful:

Advantages Of Moving To Estonia:

  • Low Cost of Living: Tallinn, Estonia’s capital is the 285th out of 780 cities for cost of living.
  • Affordable Food: Tallinn is 296th out of 780 for cost of groceries.
  • Low Education Costs: Tallinn is 406th out of 780 in cost of education.

Disadvantages Of Moving To Estonia:

  • Poor Infrastructure: Estonia is not quite as efficient as the UK and US, for example.
  • High Unemployment: 8% Unemployment Rate.
  • Harsh Winter: Given Estonia’s location winter can be dreary and depressing with shorter days and colder climates. This has effects on the overall depression rate in the country.

Popular Destinations in Estonia

Popular cities for business and real estate transactions in Estonia are: Tallinn, Tartu, Narva, Kohtla-Järve, Pärnu, Viljandi, Rakvere, Sillamäe, Maardu and Kuressaare.


How Cheap International Transfers Works

Foreign Exchange companies make their money with a simple business model – buy cheap and sell for more. They buy currency in large quantities at a low, wholesale price and re-sell when a customer makes a transfer overseas. The company has dedicated employees who specialise in working with currency every day, so they are able to provide the best possible exchange rate on any customer transfer. Beside the small fees, FX companies can provide other benefits as well.

Where banks require that you visit a local branch in order to make a transfer, a Foreign Exchange company will allow you to send your money to Estonia online. All you have to do is set up an account with the Foreign Exchange company of your choice, enter banking details and wait for your information to be validated.

Set up the account and transfer:

  • Create a free account with a foreign exchange company.
  • Receive a quote from their specialists (online or by phone).
  • Approve the received quote.
  • Fund your account with the amount needed.
  • Wait for the transfer to be completed and get the confirmation from the dealer.

What you need to send money to Estonia:

  • Account Holder’s Full Name
  • Your national identity card
  • IBAN
  • Swift/BIC Code (Bank Identifier Code)

Our Company Recommendation:

Regulations and taxes when transferring money to and from Estonia

Estonia has no regulations or currency controls, as a member of the Eurozone since 2004, and of the single currency since 2011. Transferring money in and out of Estonia is not restricted for non-residents and residents alike. This applies even to countries outside the Eurozone.

The Eurozone’s single payments system for all member states, as well as Iceland Liechtenstein and Norway, has simplified money transfers.

Eesti Pank

Eesti Pank (Estonia’s central bank) oversees payment systems to ensure the stability of their financial sector.

The European Central Bank (ECB) sets the single monetary policy.

Transfer regulations

Foreign Direct Investments (FDI) in Estonia do not require government approval.

Transfers over EUR10,000 must be declared to European Union authorities.

Taxation on foreign income

Estonia implements a relatively low income tax of 21% on individuals and corporations. Corporations are exempt on income that is reinvested.

Estonian residents are taxed on any foreign income. Non-residents are taxed only on income originating in Estonia. Double tax treaties are in place to avoid double-taxation.

Biggest banks in Estonia

  • Swedbank
  • SEB Pank
  • Nordea Pank
  • Danske Pank
  • LHV Pank

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