Croatia Joins Eurozone: Money Transfers Cheaper
Croatia has joined the Eurozone, becoming the twentieth country to adopt the euro. The switch, effective from 1 January 2023, has brought immediate changes to remittances and money transfers to the country.
The shift from the Croatian kuna to the euro has prompted many companies to adjust their send pricing. Initial data indicates lower costs for money transfers since the currency change. For instance, Xe now offers competitive rates with no hidden fees, providing exchange rates like 0.56178 AUD per 1,000 EUR transferred. However, fees can vary depending on the service used. MoneyGram, for example, charges based on transfer amount, delivery method, and payment type, but they also emphasize low fees and good exchange rates.
The adoption of the euro in Croatia has led to immediate changes in remittance and money transfer costs. While the exact fees depend on the service provider, initial data suggests lower costs for users. Companies are in the process of adjusting their pricing to reflect the currency change.
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