A number of Serbians who live in different parts of the world send money back home for different reasons. While someone might send money to parents who live in Serbia, someone else might need to make ongoing payments toward an existing Serbian loan. No matter what the reason, people are often found looking for different ways to send money to Serbia. Fortunately, you get multiple options from which to choose.
Transfer Money to Serbia
- User Rating
- Transfer Type
- Regular Payments
- Mobile App
- Min Transfer Amount
- Two Transfers Fee Free
- 1 - 3 Days
- $250 / £100 / €250
Currency Corridors & Swift Codes
Currency Symbol and Swift Codes
What currency does Serbia use? The Serbian dinar (RSD) is the official currency of Serbia. While the dinar’s earliest use dates back to 1214, the Serbian dinar, in its current form, replaced the Yugoslav dinar in 2003. This happened upon the transformation of Yugoslavia into State Union of Serbia and Montenegro.
Carrying out a money transfer to a Serbian bank account requires that you have the bank’s SWIFT code. Given below are SWIFT codes of some popular banks in Serbia.
Popular Currency Corridors
In 2016, more than U.S. $4.2 billion was sent as remittances from other countries to Serbia. In the same year, over U.S. $1.29 billion was sent as remittances from Serbia to different parts of the world. The corresponding tables give you an indication of the popular currency corridors that involve Serbia. The numbers are in U.S. dollars and represent remittances carried out in 2016.
How Do I Compare Companies When Sending Money to Serbia?
Companies that let you send money to Serbia operate in different ways, which is why you need to compare them across different parameters.
- Cost effectiveness. One way to compare the cost effectiveness of sending money to Serbia is to look at exchange rates on offer and the fees you need to pay. To keep it simple, simply look at how much money the recipient stands to receive once the transfer is complete.
- Processing time. Transfers to cash pickup locations tend to go through almost immediately, so consider using this method if you want to send money to Serbia in a hurry. An overseas money transfer to a Serbian bank account may take up to six working days, depending on the company you select, where you live, and how quickly the receiving bank processes the transfer.
- Paying for the transfer. Payments made using bank account transfers are widely accepted. Not all companies accept debit and credit card payments. However, some even let you pay using region-specific methods such as POLi, iDEAL, and SOFORT.
- Customer support. Select a company according to how you want to contact its representatives, should the need arise. Some companies provide local over the phone support in different countries, whereas with others you may need to call an international number. Finding companies that provide online support via email and chat is easy. Review-based websites such as Trustpilot and Feefo give you insight into what customers of these companies have to say about their services.
How to Transfer Money to Serbia?
You may begin the process of sending money to Serbia online, over the phone, or in person.
- Online. If your bank lets you send money to Serbia, you may be able to initiate the process using its online banking system. However, make sure you compare it with some of the top money transfer companies because they might turn out to be quicker and more cost effective.
- Over the phone. Finding companies that let you get started over the phone is easy, and some even give you access to dedicated currency brokers.
- In-person. You may send money to Serbia in person by walking into the nearest branch of your bank. However, using the services of companies that have agent locations or offices in your vicinity might be more cost-effective.
Miroslav moved from Serbia to Germany because of work, but his aging parents did not relocate with him. Since they depended on him financially to some extent, he was to keep sending them a little money each month. While several banks in Germany let him transfer money to Serbia, he decided to compare them with some of the leading money transfer companies. The results of his comparison are in the corresponding table.
|Bank||Money Transfer Service|
|Exchange rate||EUR 1 = RSD 115.1310||EUR 1 = RSD 115.6739|
|Transfer fee||EUR 15||EUR 0|
|Amount received for EUR 1,500||RSD 170,969.53||RSD 173,510.85|
|Transfer time||2 to 6 days||2 to 3 days|
|Transfer options||Bank account||Bank account|
|Difference of||RSD 2,541.32|
Miroslav used a money transfer company instead of a bank, because of which his parents received some extra money each time. Besides, the company also let him schedule monthly transfers according to his pay-cycle, so he did not have to repeat the entire process every month.
Cash Pickup Locations in Serbia
If you want to send money to Serbia quickly, or if the recipient wants to collect the money from a physical location, you may consider using the services of companies such as Western Union, MoneyGram, or Ria.
|Western Union in Serbia|
|Belgrade Menjacnica Iks Andre Nikolica 2a Belgrade||Banca Intesa Vase Pelagica 48b Belgrade|
|Novi Sad As Impex Ns 1 Bulevar Jase Tomica 4 Novi Sad||As Impex Ns 2 Bulevar Jase Tomica 4 Novi Sad|
|MoneyGram in Serbia|
|Belgrade Moneta - Alta - #7 Knez Mihajlova 54. Lokal B18 Rajiceva Sc Belgrade||Vojvodjanska Banka Bulevar Vojvode Misica 41 Belgrade|
|Novi Sad Alpha Bank Bulevar Oslobodijenja 30 Novi Sad||Moneta - Pro Kurs - #1 Novosadskog Sajma 2 Novi Sad|
Safety Tips for Picking Up Cash in Serbia
While crime levels in Serbia are typically low, you should exercise basic precautions. Foreigners might become targets because of the assumption that all tourists are rich. There have been reports of petty crime from the larger cities in Serbia. Pickpocketing can take place around tourist areas, on public transport, at airports, and at crowded public places.
Instances of petty crime and violence have taken place at some sporting events. Remain vigilant if you leave a bar or a nightclub alone late at night. Luxury and four-wheel drive vehicles have been targeted by thieves. Do not leave your valuables or belongings in a parked car. Credit card fraud is common in Serbia, so never leave your card out of your sight.
What Information Do I Need to Transfer Money to Serbia?
How you choose to send money to Serbia has a bearing on the information your service provider will need.
- To a bank account. You will need the recipient’s complete name and bank account number, as well as the receiving bank’s name and SWIFT code.
- To a cash pickup location. You simply need to provide the recipient’s complete name and pick a suitable cash pickup center. The recipient can get the money by presenting a transaction or reference number along with a valid form of identification document such as a passport or a driver’s license.
Regulations When Transferring Money To and From Serbia
The Serbian dinar is a floating currency and the National Bank of Serbia manages the float to steer clear of excessive volatility. The exchange of foreign currencies is supervised by different bodies that include, but do no limit to, the National Bank of Serbia, the customs authorities, and the tax administration. The National Bank oversees forex operations of banks as well as internet-based service providers headquartered in the country.
There are no restrictions on Serbian companies that want to make payments for goods or services from other countries. Serbian businesses may hold foreign exchange accounts with any bank that has the authority to provide such accounts.
When it is time for you to transfer money to Serbia, make sure you compare the top companies based on where you live. While cost effectiveness and speed are important, pay attention to customer service levels as well. For further savings, look for ongoing promotional offers.
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