Send Money To Norway

Norway flagLearn how to get the most out of your currency with this Norway Money Transfer Guide.

It makes no difference if you want to transfer money to Norway or if you are a Norwegian resident who wants to send money abroad, our listed Foreign Exchange companies have your needs covered.

The Guide’s Topics:


Best Company To Transfer Money To Norway

Payment Facility

Summary

Recommendation

TorFX logoMin. Transfer: £ / €100.
Transfer: Online or by Phone.
Wire Fees: None.
Best Rates for £5,000+
Expected Rates* for £5,000+:
- GBP: 10.9636 NOK to 10.9857 NOK
- EUR: 9.2841 NOK to 9.3028 NOK
- USD: 8.4831 NOK to 8.5002 NOK

worldfirst-logoMin. Transfer: £ / €1,000.
Transfer: Online or by Phone.
Wire Fees: None.
Best Rates for £50,000+
Expected Rates* - £50,000+ :
- GBP: 10.9526 NOK to 10.9857 NOK
- EUR: 9.2748 NOK to 9.3028 NOK
- USD: 8.4746 NOK to 8.5002 NOK
WorldFirst
WorldFirst Review
transferwise logoMin. Transfer: None!
Transfer: Online only.
Wire Fees: Based on amount.
Best Rates for £100-5,000
Expected Rates* - Any Amount:
- GBP: 10.9747 NOK
- EUR: 9.2935 NOK
- USD: 8.4917 NOK
Transferwise
Transferwise Review
Sweden Bankkr 350,00 International Transfer Fee + Currency Exchange Fee. More Than Double The Cost Of Commercial FX.

Exchange rate would be approximately *:
- GBP: 10.8092 NOK to 10.9195 NOK
- EUR: 9.1534 NOK to 9.2468 NOK
- USD: 8.3637 NOK to 8.4490 NOK
paypal logo2.9%+ Transfer Fees, and 2.5% more for Currency Exchanges. Quick but expensive.

Exchange rate would be approximately *:
- GBP: 10.7541 NOK or worse
- EUR: 9.1534 NOK or worse
- USD: 8.3637 NOK 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

Currencies Direct is a company that will offer a zero fee money transfer to one of their 100+ destinations. They work with more than 40 currencies, and because Euro is used by so many countries, you can understand that they have a worldwide coverage.

World First offers the same as the above two companies. The only big difference is the mobile App which is great and with it, you can make the whole system even easier and on the go. Check out their website for more information or to get a free quote.


Best Company to Transfer Money from Norway

Service Provider

Summary

Recommendation

worldfirst-logoMin. Transfer: £ / € 1,000.
Transfer: Online or by Phone.
Why Them? 75,000+ Active Clients. 100+ Currencies Available. 98% Positive Client Feedback.
WorldFirst
WorldFirst Review

Supported Regions & Currencies

Currencies: All of the companies previously recommended by us have access to huge number of currencies with which they work every day. So you can easily transfer money to countries like Italy, Germany, the Netherlands, Switzerland, Austria, Hong Kong, France and Greece.

A thing to remember is that the benefits with this companies are bigger as the transferred amount gets bigger. So if you plan to regularly send small amounts to other countries, we would recommend using TransferWise because they have fixed spreads. This means that they charge small and fixed fees for every transfer, no matter the amount.


Today’s Foreign Exchange Rates for NOK

GBP to NOK – Pounds to Norwegian krone; 10,000 GBP is 110,298.0000 NOK

NOK to GBP – Norwegian krone to Pounds; 10,000 NOK is 906.6348 GBP

EUR to NOK – Euro to Norwegian krone; 10,000 EUR is 93,401.6428 NOK

NOK to EUR – Norwegian krone to Euro; 10,000 NOK is 1,070.6450 EUR

SEK to NOK – Swedish krona to Norwegian krone; 10,000 SEK is 9,665.7670 NOK

NOK to SEK – Norwegian krone to Swedish krona; 10,000 NOK is 10,345.7905 SEK

NOK to USD – Norwegian krone to US Dollars; 10,000 NOK is 1,171.7348 USD

USD to NOK – US Dollars to Norwegian krone; 10,000 USD is 85,343.5469 NOK

NOK to CHF – Norwegian krone to Swiss Franc; 10,000 NOK is 1,171.7348 CHF

CHF to NOK – Swiss Francs to Norwegian krone; 10,000 CHF is 85,343.5469 NOK

DKK to NOK – Danish krone to Norwegian krone; 10,000 DKK is 12,552.8355 NOK

NOK to DKK – Norwegian krone to Danish krone; 10,000 NOK is 7,966.3276 DKK


Why Send Money To a Norwegian Bank Account

Norwegians enjoy the second-highest GDP per-capita among European countries after Luxembourg and it ranks second-wealthiest country in the world. The egalitarian values of Norwegian society has kept the difference between a low paid worker and a big CEO as small as possible.

The country obtained a high standards of living in part by having a large amount of natural resources like petroleum, hydropower, fish, forests and minerals. Oil production has been central to the Norwegian economy since the 1970s, with a dominating state ownership.

Exports and Resources

Being such a rich in resources country, Norway is exporting many goods and large quantities. For example, the country is the world’s 2nd-largest exporter of fish and 6th-largest arms exporter in the world. But the main resources that made possible the latest economic boom are oil and gas, which makes for almost 50% of all exports and 20% of the country’s GDP.

Norway is the fifth-largest oil exporter and third-largest gas exporter in the world. This can also be made possible by another natural resource – water. Hydroelectric plants generate almost 98% of the country’s electric power, more than any other country in the world.

Thinking Of Relocating To Norway?

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

Advantages Of Moving To Norway:

  • Go Green: Norway now has 32,000 electric cars which is the highest rate per capita in the whole world.
  • Affordable Healthcare: Norway’s healthcare is ranked at number 11 in the world.
  • Low Crime Rate: There are only about 4,000 prisoners in Norway.

Disadvantages Of Moving To Norway:

  • Weather: Rain, wind and snow. A lot of snow.
  • Expensive: The price are pretty high for everything, from gas to dinning out.
  • Language: Pretty hard to learn the language if you are not from the Nordic part of the Europe.

Popular Destinations in Norway:

Popular cities for business and real estate transactions in Norway are: Oslo, Bergen, Trondheim, Stavanger, Drammen, Fredrikstad, Kristiansand, Sandnes, Tromsø and Sarpsborg.


How The Money Transfer Works

FX companies are in the business of trading foreign currencies. As such, they know all the tricks of the trade to ensure that they earned the highest return whenever they convert money.

It is this that allows these companies to offer their customers low or no-fee transfers when they need to send money overseas and, because many FX companies deal primarily online or by phone, it enables their customers to do the same.

What you need to send money to Norway

After you provide all the details listed above, the process is simple:

  • You create a free account with the company.
  • Receive a quote from one of the dealers – be it online or by the phone.
  • Send the money to your account so you can fund the transfer.
  • Get a confirmation from the company (usually the same dealer that gave you the quote) that the transaction is completed.

Our Company Recommendation:


Regulations and taxes when transferring money to and from Norway

Norway has no regulations or currency controls, allowing for money to move freely and easily exchanged the krone (NOK) with worldwide currencies.

Norges Bank

Norges Bank (the central bank of Norway) oversees payment systems to ensure the stability of their financial sector.

The Financial Supervisory Authority of Norway (Finanstilsynet) provides oversight of the financial market and monitors performance of the financial sector.

Transfer regulations

Norway has no restrictions on money transfers across borders and it is very open to foreign investments. Transporting more then NOK 25,000 of hard currency must be declared at the customs authorities.

Taxation on foreign income

Norwegian residents are taxed on any foreign income. Non-residents are taxed on any income originating in Norway.

Biggest banks in Norway

  • Nordea
  • Bankplassen
  • Den norske Bank
  • The Postbank of Norway
  • Sparebanken NOR
  • Svenska Handelsbanken Norway