How to Send Money to Denmark from Canada?

How to Send Money to Denmark from Canada?
Last Updated: 06 Aug 2023

Denmark is a popular Scandinavian destination for Canada's international money transfers. Discover the best way to send money to Denmark today.

Europe remains a preferred destination for Canadians seeking to live, work, study, or conduct business abroad. Among the top European countries, Denmark stands out for its valuable exports, including machinery, mineral fuels, furniture, and electronic equipment.

Denmark is also home to the Lego Group, Greenland, and the oldest continuous monarchy in Europe. 

Given its attractions, Denmark sees significant demand for international transfers from Canadians whether for property purchases, sending money to loved ones, business interests, or covering expatriation expenses.

Regardless of your circumstances, it is essential to consider secure and efficient methods for sending money to Denmark from Canada. This article explores various options to minimize costs effectively.

Best way to send money to Denmark

Although there are several international money transfer options, not all are suitable in terms of cost-effectiveness, efficiency, or convenience. Generally, your two main options for sending money to Denmark are banks/credit unions or an FX specialist service. Let's consider how these two options fare when analyzed according to these benchmarks. 

Cost-effectiveness: International payments via banks often carry expensive charges. Fortunately, you can avoid out-of-pocket expenses with bank-beating exchange rates and lower transfer fees from a currency specialist like MTFX.

Efficiency: You can send money to Denmark swiftly via your secure online account and expect turnaround times of 24-48 hours. On the other hand, banks are prone to delayed transfer times.

Convenience: With MTFX, you can skip the long bank queues and enjoy the convenience of making international payments 24/7 from the comfort of your home or office.

What is the official currency of Denmark?

The official currency of Denmark is the Danish krone. Despite being a member of the European Union, Denmark has opted to maintain its own currency rather than adopt the Euro.

Why does the DKK/CAD exchange rate matter? 

The DKK/CAD exchange rate is crucial when sending money to a Danish bank account, as it determines the value of the Danish krone (DKK) in Canadian dollars (CAD). It impacts several aspects, making it an important consideration. 

Access to great rates could mean hefty savings, especially if you have regular outgoing payments. For instance, an exchange rate lower by 3–5% than banks (the usual offering from MTFX) translates to up to $1500 saved for every $30,000 that makes its way across the border.

Get a read on the CAD to DKK exchange rate before initiating your transfer. Use MTFX's live currency rate calculator to know how much rate is in your favor.

What bank details are needed to transfer money? 

Whether you're sending money to your Danish account, someone else's, or a business account, you need the following details to transfer money:

  • Beneficiary's name
  • Beneficiary's address
  • Beneficiary's account number
  • Bank's name
  • Bank Swift code
  • Bank's address
  • Reason(s) for transfer 

Make sure to provide all the necessary information to ensure a smooth transaction.

Can I send money online to Denmark? 

The ability to transfer money internationally has become increasingly innovative, particularly with specialized services such as MTFX, which offer easy access to a user-friendly online account. Whether you have an MTFX business or personal account, you can effortlessly send money abroad at the click of a button.

MTFX's online platform is available 24/7. You can send money to Denmark, track payments, explore currency exchange tools or consult with an expert for personalized assistance.

Furthermore, if you have regular overseas payments in the pipeline, such as student fees, living, and expatriation expenses, or supplier costs, you can cut out the admin legwork by setting up automated payments.

Is transferring money to Denmark safer and faster?

Opening an MTFX account only takes a few minutes. Once you're all set up, you can send your money and expect it to reach its destination account within 24-48 hours. MTFX possesses advanced technology to ensure secure and reliable transfers for every payment, regardless of the time or location. 

Looking to send money to Denmark?

Paying for your education with the best exchange rates

If you're living and studying in Denmark for a considerable time, finding affordable ways to transfer money internationally is well worth it. For instance, if you want to avoid the above-average fees that your bank will charge, all you have to do is register with MTFX to get the best rates.

The MTFX platform is accessible 24/7 and allows secure, automated payments. You can also enjoy competitive exchange rates of 3-5% lower than the banks. This translates to savings of $1,500 for each $30,000 you move across borders. 

Register an account today to send money to Denmark with MTFX.

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