Send Money To Greece

Greece flagSending money to Greece should be quite easy and fast and if you choose to pay attention to this Greece Money Transfer Guide, you will learn how to makes the most out of your currency.

With the help of Foreign Exchange companies you will understand that transferring money to or from Greece can be quite cheap. And if cheap is not good enough, we will show you a few companies that can wire the money for free. Yes, you read it right the first time – you can even send money internationally for free.

The Guide’s Topics:


Best Company To Send Money To Greece

Payment Facility

Summary

Recommendation

worldfirst-logoMin. Transfer: £ / € 100.
Transfer: Online or by Phone.
Wire Fees: None.
Best Rates for £50,000+
Expected Rates* - £50,000+ :
- GBP: 1.1528 EUR to 1.1563 EUR
- CAD: 0.6897 EUR to 0.6917 EUR
- USD: 0.9210 EUR to 0.9237 EUR
WorldFirst
WorldFirst Review
MoneyCorp logoMin. Transfer: £ / € 100.
Transfer: Online or by Phone.
Wire Fees: None.

Expected Rates*:
- GBP: 1.1441 EUR to 1.1539 EUR
- USD: 0.9140 EUR to 0.9219 EUR
- CAD: 0.6845 EUR to 0.6904 EUR
MoneyCorp
MoneyCorp Review
transferwise logoMin. Transfer: £ / € 1.
Transfer: Online or using the App.
Wire Fees: Based on amount.
Best Rates for £100-5,000
Expected Rates* - Any Amount:
- GBP: 1.1551 EUR
- CAD: 0.7038 EUR
- USD: 0.9228 EUR
Transferwise
Transferwise Review
Greece BankBig International Transfer Fee + Currency Exchange Fee. Double The Cost Of Commercial FX.

Exchange rate would be approximately *:
- GBP: 1.1377 EUR to 1.1493 EUR
- CAD: 0.6806 EUR to 0.6876 EUR
- USD: 0.9089 EUR to 0.9182 EUR
paypal logo2.9%+ Transfer Fees, and 2.5% more for Currency Exchanges. Quick but expensive.

Exchange rate would be approximately *:
- GBP: 1.1319 EUR or worse
- CAD: 0.6806 EUR or worse
- USD: 0.9089 EUR or worse
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

We have chosen Currencies Direct because it has a big inventory of available currencies – 100+ international currencies. This means that almost any country in the world is valid destination for your money.

To get a free quote on a money transfer, be sure to check out their website and fill a short from.

MoneyCorp is one of the oldest company on the market with over 35 years of experience in foreign currency exchange. It has a lower number of currencies available (35) but if you take in to consideration that some of them are used in multiple countries, the destinations keep on multiplying.

The Euro for example – It is used in Italy, Germany, Belgium, Lithuania, France and 14 more countries from the EU.

CurrencySolutions are one of the most recommended companies to work with if you want to purchase properties abroad. They are used by many real estate agents that deal with abroad clients and have adapted to fulfill the requests that usually appear in this kind of transactions. Be sure to check out their website for more info, or just to get a free quote.


Best Company to Transfer Money from Greece

Service Provider

Summary

Recommendation

currencies-direct logoMin. Transfer: € 100.
Transfer: Online or by Phone.
Why Them? Over 150,000 Active Clients.
£4.5Bn Transferred Annually. 18 Worldwide Offices.
CurrenciesDirect
CurrenciesDirect Review

Supported Regions & Currencies

The above mentioned companies can provide their services on all territories of Greece and they have a license and regulated by the Anti money laundering laws issued by the European Union.

Currencies: You don’t have to worry about this subject because we reviewed this FX companies and it will be hard to find a place that is not on their list of available destinations. Countries like Germany, USA, Australia, New Zealand, Brazil, Portugal, Spain or Mexico, are locations for daily transfers.

Even those that are very dependent of remittances like Bangladesh, Poland, Jamaica, India or Romania, are easy to deal with locations.


Today’s Foreign Exchange Rates for EUR

GBP to EUR – Pounds to Euro; 10,000 GBP is 11,609.0000 EUR

EUR to GBP – Euro to Pounds; 10,000 EUR is 8,614.0064 GBP

EUR to CAD – Euro to Canadian Dollars; 10,000 EUR is 14,398.3117 CAD

CAD to EUR – Canadian Dollars to Euro; 10,000 CAD is 6,945.2587 EUR

AUD to EUR – Australian Dollar to Euro; 10,000 AUD is 7,073.4828 EUR

EUR to AUD – Euro to Australian Dollar; 10,000 EUR is 14,137.3073 AUD

EUR to USD – Euro to US Dollars; 10,000 EUR is 10,782.1518 USD

USD to EUR – US Dollars to Euro; 10,000 USD is 9,274.5866 EUR

EUR to CHF – Euro to Swiss Franc; 10,000 EUR is 10,710.6555 CHF

CHF to EUR – Swiss Francs to Euro; 10,000 CHF is 9,336.4967 EUR

NZD to EUR – New Zealand Dollar to Euro; 10,000 NZD is 6,520.4448 EUR

EUR to NZD – Euro to New Zealand Dollar; 10,000 EUR is 15,336.3769 NZD


Transferring Money To A Greek Bank Account

Greece is one of the countries where the economic crisis had the biggest impact and the debt levels have grown consistently since 2008. After 6 years of decline, the country returned to growth but only for a very short period and went into recession again in 2015.

Tourism: Greece relies heavily on tourism to contribute to the country’s economy – this is the main reason why the crisis impacted so hard. It is recorded that, in 2008, the number of jobs directly or indirectly related to the tourism sector made up 19% of the country’s total labour force. It also contributed with 18.2% of the nation’s GDP.

Greece has been constantly featured in the top 10 most visited countries in Europe, with an average of more than 17 million tourist arrivals per year.

Business: The Maritime industry in Greece has a long history and has been a developed sector since the ancient times. Today it has the largest merchant navy in the world and is is ranked fourth in the world by number of ships (3,695).

Relocating To Greece?

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

Advantages Of Moving To Greece:

  • Low Pollution: Greece has one of the lowest pollution rates in the world.
  • Affordable Food: 25 – 50% lower cost of food than North American countries.
  • Affordable Rent: Average one-bedroom apartment is 295 GBP per month.

Disadvantages Of Moving To Greece:

  • High Unemployment Rate: 25.6% Unemployment Rate.
  • Property Taxes: Greece has very high property taxes that are 30% higher than other European Countries.
  • Low Level of English: Greeks speak limited English, which could present a challenge to expats.

Popular Destinations in Greece

Popular cities for business and real estate transactions in Greece are: Athens, Thessaloniki, Pátrai, Piraeus, Larissa, Peristeri, Heraklion, Kallithea, Acharnes and Kalamaria.


How To Make A Cheap Money Transfer To Greece

A Foreign Exchange company is dedicated to providing a single service to the fullest. This means that they concentrate all their efforts into streamlining the process as much as possible, helping to reduce the fees or remove them altogether, providing a more convenient transaction and delivering the money as quickly as possible.

As most FX companies make their profit from the Pound to Euro exchange rate, they often allow you to make an international money transfer to Greece for free when you make larger transfers. This is a huge benefit for a service that is as safe as dealing with a bank but also much quicker and easier.

Best of all, these transfers are typically completed within 24 hours, so there is no need to bend over backwards to arrange one’s schedule, as is necessary with a remittance company that can take up to a week to deliver a payment.

What you need to send money to Greece

  • Bank Name and Address
  • IBAN
  • Swift/BIC Code
  • Account Number
  • Receiver’s Complete Name

Our Company Recommendation:


Regulations and taxes when transferring money to and from Greece

Greece’s economy was dealt a critical blow by the 2008 Eurozone crisis, from which it still has not recovered. Although the country went back to business as usual for a few years, 2015 brought it closer than ever to an exit from the Eurozone, after a government referendum on austerity caused a run on deposits which forced the banks to shut.

Greece remains a member state, at the cost of harsh capital controls, especially on transfers out of the country.

The Bank of Greece

The Bank of Greece oversees payment systems to ensure the stability of their financial sector.

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

Transfer regulations

When the banks reopened on June 29 2015, Greek account holders were limited to withdrawals EUR60 per day, from an ATM. The restriction remained in place until July 24, after which the equivalent sum of EUR420 per week could be drawn all at once.

Transfers out of the country were still restricted, until August 18 2015, when transfers out of Greece to the value of EUR500 per month were allowed.

Businesses were initally allowed to transfer EUR50,000 out of the country per day. That amount was raised to EUR100,000 on August 18.

Taxation on foreign income

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

Biggest banks in Greece

  • Bank of Greece
  • Agricultural Bank of Greece
  • Alpha Bank
  • Attica Bank
  • Eurobank Ergasias

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