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: 11.9719 NOK to 11.9960 NOK
- EUR: 10.0891 NOK to 10.1094 NOK
- USD: 9.1040 NOK to 9.1223 NOK

worldfirst-logoMin. Transfer: £ / €1,000.
Transfer: Online or by Phone.
Wire Fees: None.
Best Rates for £50,000+
Expected Rates* - £50,000+ :
- GBP: 11.9840 NOK to 12.0261 NOK
- EUR: 10.0993 NOK to 10.1348 NOK
- USD: 9.1132 NOK to 9.1452 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: 11.9840 NOK
- EUR: 10.0993 NOK
- USD: 9.1132 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: 11.8033 NOK to 11.9238 NOK
- EUR: 9.9470 NOK to 10.0485 NOK
- USD: 8.9758 NOK to 9.0674 NOK
paypal logo2.9%+ Transfer Fees, and 2.5% more for Currency Exchanges. Quick but expensive.

Exchange rate would be approximately *:
- GBP: 11.7431 NOK or worse
- EUR: 9.9470 NOK or worse
- USD: 8.9758 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.

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 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 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 120,442.0000 NOK

NOK to GBP – Norwegian krone to Pounds; 10,000 NOK is 830.2752 GBP

EUR to NOK – Euro to Norwegian krone; 10,000 EUR is 101,500.0590 NOK

NOK to EUR – Norwegian krone to Euro; 10,000 NOK is 985.2211 EUR

SEK to NOK – Swedish krona to Norwegian krone; 10,000 SEK is 9,704.6903 NOK

NOK to SEK – Norwegian krone to Swedish krona; 10,000 NOK is 10,304.2958 SEK

NOK to USD – Norwegian krone to US Dollars; 10,000 NOK is 1,091.8284 USD

USD to NOK – US Dollars to Norwegian krone; 10,000 USD is 91,589.4815 NOK

NOK to CHF – Norwegian krone to Swiss Franc; 10,000 NOK is 1,075.5301 CHF

CHF to NOK – Swiss Francs to Norwegian krone; 10,000 CHF is 92,977.4045 NOK

DKK to NOK – Danish krone to Norwegian krone; 10,000 DKK is 13,582.3311 NOK

NOK to DKK – Norwegian krone to Danish krone; 10,000 NOK is 7,362.5064 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 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