Cheapest way to send money to Eritrea - Fees and Charge Rates

Currencyfair
FCA Regualted: FCA Regulated
Margin Rate: 2%
100,000 gets you: 98,000 ERN
Transferwise
FCA Regualted: FCA Regulated
Margin Rate: 3%
100,000 gets you: 97,000 ERN
Rational FX
FCA Regualted: FCA Regulated
Margin Rate: 0.7%
100,000 gets you: 99,300 ERN
Interchange FX
FCA Regualted: Not FCA Regulated
Margin Rate: 2%
100,000 gets you: 98,000 ERN
Nationwide Bank
FCA Regualted: FCA Regulated
Margin Rate: 5%
100,000 gets you: 95,000 ERN

Send money to Eritrea from London

Best Money Transfer Options in Eritrea?

Eritrea Economy Outlook

The Eritrean economy has experienced tremendous growth in the recent past. In October 2012, Eritrea's Gross Domestic Product (GDP) improved by about 7.5% over what was witnessed in 2011. It should be noted that the worker remittances from abroad account for up to 32% of the Eritrean GDP. Additionally, the country has a variety of resources such as gold, copper, marble, granite, and potash.

Economic Growth in Eritrea

The economic growth in Eritrea is projected at 0.3% in 2015. The economy increased from 1.3% in 2013 to 1.7% in the year 2014. Eritrea's slow economic growth reflects the challenges the country faced in business and investment environment, in addition to a poor global economic environment.

Today, the government is committed to strengthening natural-resource management and public financial management. The African Development Bank has provided technical assistance to create favourable medium-term prospects so as to enhance the country's economy. Urbanisation is also promoted to increase the overall growth in the economic sector.

Sending Money to Eritrea

There should be no inconveniences when arranging a money transfer to Eritrea. However, you may be inconvenienced if you depend on a slow and time-consuming method of sending currency, such as a bank to bank transfer. For that reason, it is wise to use the services provided by online currency exchange brokers because they take away the strain from a transaction.

Aside from the convenience, using an online exchange agent helps you get the most out of your money. You do not have to pay very high fees. And, you will transfer money to your recipient in Eritrea and save yourself some money at the same time. Sending travellers' cheques to your recipient may cost them high commission to receive the funds. Hence, an online currency exchange broker saves not only the sender but also the recipient.

Eritrea Funds Transfer Services

An online money transfer is straightforward and saves you both money and time. All you have to do is define your recipient, select the currency that you wish to send funds to, and then arrange the transfer. Note that the money ought to be the Nakfa (EFN). Online transfer services let you check the exchange rate at which the Eritrea money (Nafka) trades. In a nutshell, an online transfer lets you do many things all under one roof.

Transfer from Eritrea to UK

Send money at your convenience to Eritrea? No one wants to feel as though they are being inconvenienced while they are arranging a currency transfer to Eritrea. However this is something that can easily happen when you rely on a bank to bank transfer or another slow and time-consuming method of sending funds to a recipient in another country. With this in mind it makes sound sense to use the services of an online currency exchange broker and let them take a lot of the strain from the transaction.

Get more for your money in Eritrea
As well as being very convenient a money transfer via an online exchange broker can also help you to get more for your money. You will not have to pay very much in fees and you will be able to transfer money to Eritrea and save yourself money at the same time. When this is compared to sending travellers cheques to your recipient, which can cost them in commission to receive the money, you can see how much money could be saved.

Eritrea money transfer services
You can also save yourself time with an online transfer as they are so straightforward. You can define who your recipient is, select the currency you wish to send, in this case the Nakfa (EFN) and go ahead and arrange the transfer. At the same time you may also wish to take a look at the currency rate Eritrea money, the Nafka is being traded at. In fact there are so many things that you can do using an online transfer that you will wonder why you have not done this before.