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Croatia's Euro Switch Slashes Money Transfer Costs

Say goodbye to conversion fees! Croatia's euro switch makes sending money home cheaper. Providers race to adjust pricing.

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1 min read
It is an edited image. In this image we can see a woman standing and smiling. We can also see the...
It is an edited image. In this image we can see a woman standing and smiling. We can also see the currency notes and also the text and on the left and on the right we can see the black color background.

Croatia's Euro Switch Slashes Money Transfer Costs

Croatia, the newest member of the Eurozone, has seen immediate changes in money transfer costs since switching from the kuna to the euro on 1 January 2023. Initial data shows reduced costs for sending transfers to the country in euros compared to the previous currency.

Croatia's Eurozone switch has simplified the process of sending money to the country, with currency conversion fees no longer applicable. However, the exact cost trends and the specific provider that reduced transfer costs remain unclear.

Many companies are currently in the process of adjusting their send pricing for money transfers to Croatia, reflecting the country's twentieth adoption of the euro. The impact on remittances and money transfers has been swift and noticeable.

Croatia's Eurozone entry has brought immediate changes to money transfer costs, with reduced expenses for sending funds in euros compared to the kuna. While the specific provider behind the cost reduction is unknown, the overall process has become simpler due to the elimination of currency conversion fees.

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