Send money to Denmark
If you’re buying property in Denmark, doing business or have family and friends that live there, there’s probably a time where you need to do an international money transfer. Whether a one-off transfer or regular, we’ll guide you with quick how-to tips to get you on your way. Remember, Mozo is a neutral and informative platform to help you make the right decision for your personal situation. Take a moment to read on how we can help you make an international money transfer work for you.If you want to transfer money to Danish krone for your next holiday to Denmark, then it’s a good idea to visit Mozo’s Travel Money section and read up on everything you need to know about the best travel cards and exchange rates.
FAQs about transferring money to Denmark
How do I actually transfer money to Denmark?An International Money Transfer is simple. Just have your recipient's bank ID numbers and their account details ready to start your transfer. Worked out how much to send? Now choose between a bank or Special FX. That’s it! Still not sure? Read on:
|Financial Agent Type||Pros||Cons|
| Banks |
Where most people safely keep their money protected.
|Names and brands that you use and trust.||Higher transfer fees than other IMT providers. Limited service - only available during business hours.|
| Specialist FX |
Or Foreign Exchange Specialist transfer funds and exchange foreign currencies everyday. Companies like: CurrencyFair, HiFX, OzForex etc.
| Pros: |
Quick and safe international money transfer, costs less than banks. More flexible - transfer funds 24/7.
|Cons: Since currencies change everyday, trading Australian dollars for krone may vary from one day to the next.|
International Money Transfer Tip:
Want to double check if the BIC or SWIFT code is correct? Visit http://www.swift.com/bsl to double check your numbers if you’re uncertain.
Is wiring money to Denmark risky?
Anything you do online can be pretty risky if you’re not careful. Before transferring money online shopping, posting updates on social media or doing your regular online banking, make sure you:
- Install the latest anti-virus software like McAfee
- Download the latest updates your PC or mobile.
Having these on your PC or mobile protects your personal information, allowing you to enjoy the flexibility of enjoying all your favourite online pastimes.
Can I make a one-off transfer to Denmark?
Yes you can. One-off is fine. So is sending money to Denmark multiple times. For whatever reason, and however many times will be completely up to you and your personal situation.
How do I compare IMT providers?
We know how busy you are, so we’ve compared as many IMT providers as possible for you.
Your overall fee will depend on the rate you secure. Is it a small amount? Then you may not notice the charges so much. If it’s in the hundreds or thousands, then you certainly will. Not sure how IMTs work? We’ve got a quick summary here:
- Limits: Some IMT providers have minimum amounts that you need to meet, others don’t. Weigh up minimum transfer amounts vs percentage rate versus fees to see what suits your budget best.
- Rates: You may think the tiny difference between rates is menial. Well, Mozo tends to think the contrary. When transferring a large amount, the smallest difference between rates can save you hundreds or thousands, depending on the amount. It certainly adds up when you make regular transfers abroad!
- Transfer speed: Every IMT provider has their own transfer speed promise. some say immediate, some say 8 days. You’ll hear of everything in between too. Realistically the funds will take probably 3-5 business days to clear before your recipient can use the money you transfer.
- Fees: You’ll find that some IMT providers including banks will charge anything from zero to a lot to even begin the currency exchange. Work out what works best for you before making a decision.
- Online vs phone or in person: Online, every time. That is of course, you’re interested in saving money on fees and want to go about your money matters independently. Not to mention the freedom of sitting at your desk at home in your jammies with a cup of herbal tea at 10pm. Your call.
How do I set up an international money transfer?Have you decided which path to take yet? Online, in person or over the phone? Working this out first, will determine your best next steps.
- Will you be logging on to your online bank account or app?
- Visiting a branch?
- Filling out a form online?
- 1. Full name and address of the recipient’s bank
- 2. Recipient's name, address and account name
- 3. Account number or International Bank Account Number (IBAN)
- 4. SWIFT/BIC code of your personal account you're transferring funds from
- 5. Amount you would like to send.
IMT must-know terminology
BIC - Bank Identification Code
SWIFT - Society for Worldwide Interbank Financial Telecommunication
IBAN - International bank account number
Recipient - The person or party who receives the money being transferred
IMT - International money transfer
IMO - International money order.