The link between France and Algeria is several years old.
It is not surprising that many Algerians live in France, while maintaining contact with their loved ones back in the country.
There are also many Algerians who work with French people from their native land.
Either way, sending or receiving money to Algeria is a daunting task. Fortunately, there are solutions for this kind of problem.
Let's dive in.
The most common problems
There are various options for receiving or sending money to Algeria. However, many individuals or professionals have had bad experiences with these solutions.
First of all, it happens that the person wishing to send a given sum to their relatives faces restrictions on money transfer. This is one of the most common concerns and the reason for it depends on various things. It is also possible that the individual had a bad experience with Western Union Algeria or Hawala. Usually the problem is the person's inability to handle or understand how these services work. Indeed, there are some rules and conditions to be respected to be able to send money with these tools.
Then the problem can be with the fees collected during the transfer. By opting for a bank transfer, the interested party should expect a high cost. In addition, this solution implies that the recipient must be the owner of a bank account. The duration of the disposition of the sum is another fact which poses a problem for people who want to transfer or receive money in Algeria. It is longer with a bank transfer or a mailing. However, these various options can perfectly answer your question: how to send money to Algeria? It is enough to master the techniques and conditions of each service provider.
International bank transfer
International transfer is one of the most practical and secure solutions for sending money to Algeria. This option is very popular with most people who live in France and who want to financially help their friends or families in Algeria. Bank transfer allows you to receive money from any country in the world. The use of international transfer is subject to a few processes, including the provision of some information necessary for the operation. In fact, you must have in your possession:
- Name and first name (s) of the beneficiary as well as his bank details;
- IBAN code (International Banking Account Number or international bank account identifier) of the beneficiary account;
- BIC code (Bank Identifier Code or international bank identifier) of the bank where the transfer will be made.
When you have all of its information in your possession, you can make the transfer. For this, you can go to a bank branch. To make it simpler, you just have to log into your online customer area using your computer or smartphone. At the same time, you can also opt for this solution by contacting your bank's customer service department.
However, this solution is not free. Among your various costs, which are determined by each bank, there is first of all the exchange costs. It concerns the cost that is taxed to you when the bank converts your euros into local currency. As this is an amount to be sent to Algeria, your currencies will be converted into Algerian dinar. Second, there are the costs of sending or repatriating funds. Finally, the international transfer is accompanied by correspondence costs.
The duration of an international transfer depends on various criteria, and more precisely on the nature of the transfer. If you want the beneficiary in Algeria to be able to withdraw the money from their account in a short period of time, opt for an immediate transfer.
You can also prefer the programmed transfer. In this case, the transfer will be made by your bank on a specific date. Finally, there is the express transfer which allows you to receive the sum instantly.
The reasons for a delay in international transfer
Many Algerians complain that they have not received a transfer made by their relative or that the transfer has been delayed. There are various reasons for this kind of situation. The transfer may be blocked, since anomalies were noted by the issuing bank when proceeding with the operation. The latter can be reactivated after a regularization of the owner of the account.
It also happens that the transfer is suspended because the recipient's data is incomplete or false. This can be his IBAN, BIC or SWIFT. The delays are mainly due to the day of the transfer. Avoid doing it on a Friday evening, on a public holiday or on weekends. Finally, the transfer cannot be made if the issuer does not have sufficient funds.
Solutions to send money to Algeria
There are various ways to send money to your loved ones or families who are in Algeria.
Western Union is the gold standard for sending money around the world. Its large network allows it to be active on all continents. The money sending and receiving service offered by the American giant is both secure and fast. You have the choice between an agency service or via the Internet.
The beneficiary must bring an identity document and specify the amount he is supposed to receive in cash when he goes to an agency. An agent from Western Union Algeria provides him with a form to fill out. He must take care not to omit any information requested in the form. For online service, simply access the Western Union website and follow all of the recommended guidelines.
The Hawala is the alternative for most immigrants who are wondering how to send money to Algeria? It allows you to transfer money without having to resort to the classic banking system. Professionals describe this system with the expression "money Transfer without money movement". More precisely, this is a special technique, because the sum is not physically moved.
The operation is conventional, to say the least. Indeed, the person in France must find a Hawala agent to whom he gives the sum to send to his relatives. The hawalador contacts one of his colleagues in Algeria who gives the money to the recipient. The latter must provide the trader with an identification code that the issuer provides him with before receiving the money. The hawalador who makes the delivery collects his money from whoever contacted him.
In cash or postal money order, sending money by mail is a transfer of money between individuals. The latter have the choice between the ordinary international mandate and the international express one.
The ordinary international money order is reserved for remittances of less than 3,500 euros. This type of operation is simple, because the sender just has to go to a post office with his identity document with the amount to be sent. The recipient must wait a few days to receive the money sent to them. He can wait for the money order at the address indicated on it or come and withdraw the money directly from one of the network's points of sale.
As for the international express money order, it can be processed both at post offices and via the Internet. The maximum authorized amount is 3,500 euros. The advantage is that the mandate is available to the recipient within 24 hours of being sent.
Although Azimo is among the latest arrivals on the international money transfer market, this British startup is attracting more and more individuals. This is a great option for those who want to send money overseas. Transactions can be carried out either on its web page or via a mobile application. Whoever sends the money also has the choice between a bank transfer to the beneficiary's account or a transfer to a network of partner agencies.
The charges applied vary depending on the method of sending and the method of withdrawal. However, for any first transfer, the individual will not have to pay a shipping fee. For transfers over 100 euros, a study has published that Azimo is one of the most affordable operators in terms of fees. Compared to its competitors, money transfer with this establishment is faster. Indeed, the duration varies from a few minutes to 72 hours depending on the recipient's country.