Serbia has a lot of inward remittances that are done everyday day. However studies show that only half of this remittances use official channels like banks for example. Other means of money transfer to Serbia are equally popular.
Pre paid cards have been becoming increasingly popular in Serbia. They are not only easy to acquire but they are extremely convenient. Once you send the recipient a pre paid card, you can top up this card at your convenience, for the required amount from anywhere in the world. Topping up can be done online or through the phone. This is probably the easiest way to transfer money to Serbia.
Money transfer agents
Money transfer agents are also very popular when it comes to currency transfer to Serbia. This is mainly because of the fact that there is hardly any documentation that is required and the money reaches the recipient almost immediately. This method also makes it possible for the recipient to collect the money in cash. There are many well known operators who provide this money transfer service. Before you choose one ensure that you are getting the best exchange rates and the lowest fees or you will find that your transfer will work out to be rather expensive.
Official channels
When you send money to Serbia through official channels it means that you will be using a bank. Wire transfers the cheapest way of transferring money. However, this process can take anywhere between a day to 3 working days. The other drawback is also the fact that both the parties concerned will need to have valid bank accounts as money is transferred only between accounts. There are a very few banks that allow you to receive money in cash.
