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 Send 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: 11.7006 NOK to 11.7241 NOK
- EUR: 9.9953 NOK to 10.0154 NOK
- USD: 8.5489 NOK to 8.5661 NOK

currencies-direct logoMin. Transfer: £ / €100.
Transfer: Online or by Phone.
Wire Fees: None.

- GBP: 11.7123 NOK to 11.7535 NOK
- EUR: 10.0053 NOK to 10.0405 NOK
- USD: 8.5575 NOK to 8.5876 NOK
CurrenciesDirect
CurrenciesDirect Review
currencyfair logoMin. Transfer: £ / € 1.
Transfer: Online or using the App.
Wire Fees: € 3

Expected Rates*:
- GBP: 11.7123 NOK to 11.7218 NOK
- CAD: 6.7588 NOK to 6.7642 NOK
- USD: 8.5575 NOK to 8.5643 NOK
Currencyfair
Currencyfair 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: 11.5358 NOK to 11.6535 NOK
- EUR: 9.8545 NOK to 9.9551 NOK
- USD: 8.4285 NOK to 8.5145 NOK
paypal logo2.9%+ Transfer Fees, and 2.5% more for Currency Exchanges. Quick but expensive.

Exchange rate would be approximately *:
- GBP: 11.4769 NOK or worse
- EUR: 9.8545 NOK or worse
- USD: 8.4285 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 worldwide coverage.


Best Company to Send Money from Norway

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

Currencies: All of the companies previously recommended by us have access to a 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 these 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 Wise 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 117,712.0000 NOK

NOK to GBP – Norwegian krone to Pounds; 10,000 NOK is 849.5311 GBP

EUR to NOK – Euro to Norwegian krone; 10,000 EUR is 100,556.1203 NOK

NOK to EUR – Norwegian krone to Euro; 10,000 NOK is 994.4696 EUR

SEK to NOK – Swedish krona to Norwegian krone; 10,000 SEK is 9,885.3683 NOK

NOK to SEK – Norwegian krone to Swedish krona; 10,000 NOK is 10,115.9610 SEK

NOK to USD – Norwegian krone to US Dollars; 10,000 NOK is 1,162.7277 USD

USD to NOK – US Dollars to Norwegian krone; 10,000 USD is 86,004.6615 NOK

NOK to CHF – Norwegian krone to Swiss Franc; 10,000 NOK is 1,079.2697 CHF

CHF to NOK – Swiss Francs to Norwegian krone; 10,000 CHF is 92,655.2427 NOK

DKK to NOK – Danish krone to Norwegian krone; 10,000 DKK is 13,523.1202 NOK

NOK to DKK – Norwegian krone to Danish krone; 10,000 NOK is 7,394.7431 DKK


Popular NOK Routes

Popular currency transfer routes for people visiting this page:

  1. Transfer from UK to Norway (GBP to NOK)
  2. Transfer from Norway to USA (NOK to USD)
  3. Transfer from Norway to EU (NOK to EUR)
  4. Transfer from Canada to Norway (CAD to NOK)
  5. Transfer from Australia to Norway (AUD to NOK)

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 have kept the difference between a low paid worker and a big CEO as small as possible.

The country obtained a high standard of living in part by having a large number of natural resources like petroleum, hydropower, fish, forests and minerals. Oil production has been central to the Norwegian economy since the 1970s, with 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 is pretty high for everything, from gas to dining out.
  • Language: Pretty hard to learn the language if you are not from the Nordic part of 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 the 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 than 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