Have a need to send money to friends or family in Bosnia? If so, there are many different options available. The right option depends on a few factors, including how the recipients are able to receive the money and how much you are looking to send. So, before you settle on the first option available, make sure to look over these different sending money options.
Azimo is a quality service with lower than normal fees, depending on the option you go with. There is one option, which offers a $2.99 fee plus a 1.6% exchange rate margin. The option is a $6.9 fee that doesn’t have any sort of an exchange rate or total cost percentage. Both of these options take about three to five days for the money to transfer over. When comparing money transfer options, you not only need to look at what it will cost but the transfer time. If the money needs to get there instantly, you may want to look for other options, but this one is on the lower end of fees when sending money to Bosnia.
Western Union is possibly the longest tenured option available to you. WU has been around for over a century as everything from a mail currier to financial service. While you always need to weight it against how much money you are transferring. Western Union will cost you a $5.00 fee but there is no exchange rate margin. On top of this, the transfer will occur in less than 24 hours. With Western Union though there does need to be a set location around both you and the recipient in order to pick up the money.
Small World FS-LCC
Both Western Union and Azimo have the lower fees and exchange rates. This helps you save money whenever sending it internationally to locations such as Bosnia. Small World FS-LCC has the next lowest total cost percentage behind these two. With Small World FS-LCC the fee might end up being lower, again based on how much you intend on transferring. It comes with a $3.45 fee and a three percent exchange rate margin which comes to a total cost percent of four percent. It will take a bit longer for the money to transfer over though. It will transfer at some point within the month. This is more of a direct, physical money transfer option, if the recipient doesn’t have a traditional bank account for SEPA financial transfers.