What Is The Cheapest Way To Send Money To Jordan

Send Money To Jordan

An independent kingdom since 1946, Jordan is a country in Southwest Asia located on the northern Arabian peninsula. Jordan is considered to be a politically liberal and historically significant region in the Middle East due to the ancient land the kingdom is built on: perhaps most famously, the red stone city of Petra. In this guide we will be outlining the best, most efficient way to send money to Jordan.

Updated: 01/10/2021

Read time: 6 minutes

How to send money to Jordan

Jordan has a well-developed and reputable financial sector and at the time of writing there are no enforced international sanctions against the country. However, despite being politically liberal and financially regulated, Jordan's economy is among the smallest in the Middle East, and it is located in a tumultuous part of the world, bordering Syria, Iraq, Saudi Arabia, Israel and the West Bank. Add to this the fact the Jordanian dinar is considered an exotic currency and less popular than other, more commonly traded currencies.

For these reasons, it can be hard to find banks that accommodate money transfers to Jordan, and those that do, may not have much experience with this transfer corridor. This is where money transfer service providers offer an ideal alternative. Companies like XendPay, Azimo and Remitly have far more experience than banks when it comes to cross-border payments to more remote destinations, using niche currencies like the Jordanian dinar (JOD). While some banks are unwilling or unable to accommodate money transfers to Jordan, many money transfer specialists are better equipped for handling these types of remittances and will therefore be in a better position to provide a competitive rate of exchange.

Get started with a money transfer company

Step 1. Compare providers, using our comparison engine, to gauge who can offer the best value for your money

Step 2. Check out our online review of the company's money transfer services

Step 3. When you are happy with a service provider, sign up for an online account

Step 4. Send your funds safely and securely to Jordan, comforted in the knowledge you have locked in the best, most efficient international money transfer on the market

Ways to send and receive money in Jordan

Due to the multitude of money transfer options available to customers nowadays, deciding the best way to send and receive money can be difficult, especially if you are sending money to parts unknown. In this section we will outline the best, most convenient ways to move funds to Jordan.

Ways to send money in Jordan

Online money transfers

We recommend using an online money transfer company to transfer money internationally to Jordan. Using our comparison engine, customers can find out which providers specialise in the most competitive exchange rates and most affordable transfer services.

Leading money transfer companies such as Azimo and XendPay make it easy to arrange safe and secure online payments that will reach recipients in Jordan instantly.

Banks

Certain financial institutions facilitate transfers to Jordan but this is something you will need to confirm with your bank. If your bank supports transfers to this country, it may seem tempting to use them to make a remittance; however, we urge customers to compare your bank's exchange rate with the exact mid-market rate before initiating a payment, in the interest of securing the most bang for your buck.

Ways to receive money in Jordan

It would appear cash pick up is the most popular option for receiving money in Jordan. Customers collecting funds using this transfer method will need to verify their identity and provide the relevant reference details: read more about a Cash Pickup.

What's needed to send and receive money to Jordan?

Customers sending money to Jordan may need to prepare various information, depending on the method of transfer chosen.

If you are sending money for cash pick-up, finding the most accessible agent location for your recipient is crucial. You will also need to provide the relevant reference details so that your recipient can easily and safely collect the cash without experiencing any issues.

Please note, both sender and receiver may be asked to provide proof of identity, residential address and contact details when transferring money to Jordan.

Things to consider when sending money to Jordan

Making an international money transfer to Jordan will be different to an everyday domestic transaction made in your home country, so we want to ensure our readers have taken all the necessary considerations ahead of initiating this overseas payment.

Growing housing sector: Since the early 2000's Jordan has been proactively attracting foreign direct investment in the housing sector. Whether you are involved in trading, investing or buying property in Jordan, the taxation and commercial implications that come hand in hand with this kind of foreign transaction is worthy of consideration
Strong relationship with the United States: America is Jordan's largest trading partner, having established a free-trade agreement in October 2000. Whether you are sending or receiving funds from the US to Jordan for business or personal reasons, Remitly is the best option for this transfer corridor.
Geography and politics: Jordan is in close proximity to some of the most politically unstable parts of the Middle East, such as Syria and the West Bank. The country long been seen as a major gateway to Iraq, so any developments, political or otherwise, that occur in Iray, will have a knock-on effect on the stability of Jordan's economy and financial sector

National holidays: As a predominantly Muslim country, it is worthy considering religious festivals and holiday when sending a cross-border payment to Jordan. Some national holidays may delay the transfer speed of overseas remittances.

Current Exchange Rates For Jordan

The Jordanian Dinar (JOD) is currently pegged to the American Dollar (USD) at a rate of 0.708966 JOD per USD. This rate is set in stone and has been for some time. What this means is that the currency exchange rates are constant.

If you are concerned with the prospect of future fluctuations in currency exchange rates, it would be helpful to study the American Dollar. Studying the USD, its history, and the factors currently affecting it will better educate you on any future changes in exchange rates for the Jordanian Dinar.

What's The Fastest Way To Send Money To Jordan?

The fastest way to send cash to Jordan is through Ria Money Transfer's fast option. With Ria Money Transfer's fast option, your money will reach its Jordanian destination in a matter of minutes. The fast option is also quite affordable and it costs less than most of their slower competition. The main drawback to Ria Money Transfer is that some users complain of hassles and a platform which isn't the easiest to use. When it comes to their fast option, you can be sure you're getting a good deal when it comes to speed and cost.

What's The Cheapest Way To Send Money To Jordan?

The cheapest way to send money to Jordan is through XE. Like OFX, XE is a currency conversion company that allows you to send money on their platform. For this reason, it should be no surprise that they offer better rates than mainstream money transfer companies do for hidden currency conversion markups. In the end, you simply spend less when you use XE.

What's The Easiest Way To Send Money To Jordan?

The easiest way to send money to Jordan is through Payoneer. You can switch between Payoneer's different money transfer methods to suit your unique needs. Payoneer gives you several options for sending money, all of which can be useful depending on the sender's unique situation. We recommend you use Payoneer to send money to the recipient's debit card. This offers you greater convenience and security when compared to other methods. With this method, the recipient can withdraw the money right away upon the transfer's completion.

What's The Overall Best Way To Send Money To Jordan?

The overall best way to send money to Jordan is through Ria Money Transfer's fast option. With Ria Money Transfer's fast option, your money will reach its Jordanian destination in a matter of minutes and at a very reasonable cost. The cost-speed ratio offered by Ria Money Transfer's fast option is the best available when you need to send money to Jordan.

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Jonathan Merry

Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com