If you need to send money to Algeria, be it to a friend or family member or perhaps to cover mortgage payments of a property in the country, it pays to research your options.
When you first decide to send money to Algeria, your local bank could be a logical first port of call. However, this may not be the cheapest way to go about things, although it is undeniably convenient.
You could transfer money to Algeria after just one phone call or meeting with your banks. But the fees involved and the poor rate of currency exchange when you send money to the Bank of Algeria or Credit Populaire d'Algerie might be enough to make you think again.
If you do decide to continue to research ways to send money to Algeria, you might come across Money Sending Bureaus. These are usually small establishments that can be found on streets and in malls around the world.
Unfortunately, they tend not to be properly regulated and can often charge high fees of between ten and 15 per cent on top of a very poor rate of currency exchange.
Alternatively, you could look go to a foreign exchange broker like RationalFX, where the currency exchange rate will be one of the most competitive on offer on the consumer market. Furthermore, with RationalFX, there are only low fees involved when you send money to Algeria.
But don't take our word for it! Open an online account with RationalFX today for free and you could take a look at the actual currency exchange rates available to you should you send money to Algeria with us. You can then compare them to any other options you have and pick the best method for your personal situation.