Sending Money to Slovenia

Slovenia flagIn this Slovenia Money Transfer Guide you will learn how to get the most out of your currency when making international money transfers.

With our recommended foreign exchange companies you will be able to send money to or from Slovenia at a cost of what your local banks charge. But you will also receive more benefits and a better service overall.

The Guide’s Topics:


Best Company To Transfer Money To Slovenia

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: 1.1360 EUR to 1.1394 EUR
- CAD: 0.6708 EUR to 0.6729 EUR
- USD: 0.8868 EUR to 0.8895 EUR
WorldFirst
WorldFirst Review
currencies-direct logoMin. Transfer: £ / € 100.
Transfer: Online or by Phone.
Wire Fees: None.

Expected Rates* - All Amounts :
- GBP: 1.1211 EUR to 1.1383 EUR
- CAD: 0.6621 EUR to 0.6722 EUR
- USD: 0.8752 EUR to 0.8886 EUR
CurrenciesDirect
CurrenciesDirect 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: 1.1383 EUR
- CAD: 0.6771 EUR
- USD: 0.8886 EUR
Transferwise
Transferwise Review
Slovenia BankBig International Transfer Fee + Currency Exchange Fee. Double The Cost Of Commercial FX.

Exchange rate would be approximately *:
- GBP: 1.1211 EUR to 1.1326 EUR
- CAD: 0.6621 EUR to 0.6688 EUR
- USD: 0.8752 EUR to 0.8841 EUR
paypal logo2.9%+ Transfer Fees, and 2.5% more for Currency Exchanges. Quick but expensive.

Exchange rate would be approximately *:
- GBP: 1.1154 EUR or worse
- CAD: 0.6621 EUR or worse
- USD: 0.8752 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

TorFX has great team of specialists that can work with international clients from countries all over the world like Australia, USA, Canada, Japan, China and every corner of the globe. To get a free quote on your transfer, be sure to fill the form on their website and a staff member will contact you, online or by phone.

WorldFirst is another great company to work with for your money transfer needs. The main difference with them is the existence of a mobile app that you can use and literally send money on the move. It is very easy to use and comes in handy when your time is limited and going to your local time is not an option.


Best Company to Transfer Money from Slovenia

Service Provider

Summary

Recommendation

TorFX logoMin. Transfer: € 500.
Transfer: Online or by Phone.
Why Them? Staff of over 100 Traders. 9.4 / 10 Rating by Clients.
TorFX
TorFX Review

Supported Regions & Currencies

All the companies the conduct business in countries that are part of the EU, like Slovenia, work under the Anti Money Laundering law. This means that once they are cleared by the UPPD, their services are available for customers from all the regions of the country.

Currencies: Both companies recommended by us have access to a huge array of international currencies which makes it easier and quick to make transfer to countries like Finland, Estonia, Switzerland, Lithuania, France, Poland. But they work very well also with more exotic destinations like Hong Kong, Mexico, Sri Lanka, UAE, Brazil, Thailand or Kenya.


Today’s Foreign Exchange Rates for EUR

GBP to EUR – Pounds to Euro; 10,000 GBP is 11,440.0000 EUR

EUR to GBP – Euro to Pounds; 10,000 EUR is 8,741.2587 GBP

EUR to CAD – Euro to Canadian Dollars; 10,000 EUR is 14,802.4476 CAD

CAD to EUR – Canadian Dollars to Euro; 10,000 CAD is 6,755.6395 EUR

AUD to EUR – Australian Dollar to Euro; 10,000 AUD is 6,805.4729 EUR

EUR to AUD – Euro to Australian Dollar; 10,000 EUR is 14,694.0559 AUD

EUR to USD – Euro to US Dollars; 10,000 EUR is 11,197.5524 USD

USD to EUR – US Dollars to Euro; 10,000 USD is 8,930.5230 EUR

EUR to CHF – Euro to Swiss Franc; 10,000 EUR is 10,899.4755 CHF

CHF to EUR – Swiss Francs to Euro; 10,000 CHF is 9,174.7534 EUR

NZD to EUR – New Zealand Dollar to Euro; 10,000 NZD is 6,478.6499 EUR

EUR to NZD – Euro to New Zealand Dollar; 10,000 EUR is 15,435.3147 NZD


Sending Money To A Slovenian Bank Account

Slovenia is one of the newest countries to adopt the Euro as the national currency (2007) and has been showing great economic improvements, for which the country got herself categorised as a developed country.

Real estate: The real estate sector in Slovenia is a very good place for investors ready to diversify their portfolio as the market is set to recover through 2015. In 2014, 40% of the buyers were Russian, followed by the British. Similar buyers are sending money to Lithuania to acquire ready-to-blow properties.

Tourism: Even tough a small country (only 20,273 km2) it has a lot to offer. Alpine in the North-West, the Mediterranean in the South-West and a lot of culture through it’s capital city of Ljubljana which showcases many beautiful Baroque and Art Nouveau buildings.

Diaspora: Even though the number of people living overseas is small, it is almost 10% of Slovenia’s current population. The main abroad Slovenian communities are located in Italy (83,000 – 100,000),  the United States (50,000 – 80,000), Austria (24,855), Croatia and Hungary.

Thinking Of Relocating To Slovenia?

If you consider relocating to Slovenia, be sure to read the stats we have listed above:

Advantages Of Moving To Slovenia:

  • Attractive for Elderly: In 2010 Slovenia approved pension insurance act for the elderly.
  • Easy to Work for EU Nationals: Both EU and UK do not need a work permit to legally work in Slovenia.
  • Strong Public School System: Slovenia has attracted many incoming foreign students due to their high quality education that is free to the public.

Disadvantages Of Moving To Slovenia:

  • Low Income: The average net-adjusted income per capita is USD 19,326 per year.
  • Lack of Middle Class: The top 20% of the population earn close to four times as much as the bottom 20%.
  • High Pollution: The level of atmospheric PM10 is 25.6 micrograms per cubic meter in large urban areas.

Popular Destinations in Slovenia:

Popular cities for business and real estate transactions in Slovenia are: Ljubljana, Maribor, Celje, Kranj, Velenje, Koper, Novo Mesto, Ptuj, Trbovlje and Kamnik.


How To Transfer Money For Cheap

The best way to send money to Slovenia is with a Foreign Exchange company. Why? Because they can provide a quick international money transfer at a fraction of the cost compared to the High Street banks.

How can they provide such small fees? The answer resides in their business model. FX companies purchase large amounts of currencies so they can receive a lower, wholesale price. Because their employees have a lot of stock market experience, they can recognise the perfect time to buy a certain currency. Later, when a customer decides to place a money transfer, the FX company can re-sell the currency for a profit margin. So it’s basically a win-win situation.

Details needed to send money to Slovenia

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

The next step is to create an account and making the transfer:

  • Create a free account with the company of your choosing.
  • Receive a quote from one of the dealers – be it online or by the phone.
  • Fund your account with the amount needed for your transfer.
  • Get a confirmation from the company that the transaction is completed.

Our Company Recommendation:


Regulations and taxes when transferring money to and from Slovenia

Slovenia has no regulations or currency controls, as a member of the Eurozone’s single currency. Transferring money in and out of Slovenia 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.

Banka Slovenija

Banka Slovenija (the central bank of Slovenia) oversees payment systems to ensure the stability of their financial sector.

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

Transfer regulations in Slovenia

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

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

Taxation on foreign income

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

Biggest banks in Slovenia

  • Abanka
  • Nova
  • SKB Bank
  • UNICREDIT BANKA SLOVENIJA
  • RAIFFEISEN

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