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Hello Newcomer72,
Based on what the value of the transfer ends up to a 2700?
However, I advise you to open a bank account withe National Bank of Kuwait NBK, you will get the advantage of commission free transfer of funds to your home country once a month, with their online banking.

Good luck

By the way, make sure of the meals point in the offer, never heard of free meals in a job offer, unless you will be eorking for a hotel!

inalsa wrote:

However, I advise you to open a bank account withe National Bank of Kuwait NBK, you will get the advantage of commission free transfer of funds to your home country once a month, with their online banking.

This is true only if the recipient bank account is not in EU or US, which is in this case highly unlikely.

Newcomer72 wrote:

Hello,

I have an offer to work in Kuwait and the salary is not too bad (1200 KD including free housing, free meals 3 times per day, free private health insurance etc.). Due to the fact that I will not spend all my money in Kuwait I would like to transfer some money to Europe. The problem is the exchange rate. 1200 KD are around 3150 Euro but if I change/transfer I receive around 2700 Euro. Has somebody an idea/way how I loose not so much money!!!!!! I would be very happy if so. Thank you very much in advance.

That is a bit excessive. However I don't understand where is your experience coming from if you are not in Kuwait yet?

Well Ribosom, I know people who are getting this benefit to Canada and UK

Might be, Canada is not US and UK is not using Euro currency.

Hi,

No matter you will be at the losing end.  Exchange places make their money by giving u an unfavorable exchange rate.  Even if you do send by NBK, there will be a commission charge if u elect NBK to pay for ur transfer and also the exchange rate is unfavorable.  If you use Moneygram/Western Union same situation and the commission fees are higher.   Prepare yourself that no matter what, you will lose but you want to consider which method will make u lose less.  I tried many things in my case i have bank accounts with intermediate banks so if i send by NBK i pay higher commissions plus also my local bank tax and charge me. also it takes 2 days. for me it works better by money gram, i pay less and i know up front what the damages is and the exchange rates

Things that you can do:
1- Have a portion of ur salary to be transferred to your local bank, I dont know if your company can do deposits to multiple banks. Please bear in mind that exchange rate will not be ideal
2- Send funds when euro is not too strong, of course u will be limited to the market.
3- Money gram
4- Send funds yourself from ur NBK or kuwaiti bank to ur local bank

from all of the above try some or all and see which one work the best for you.

Hi
If you have bank account with NBK or any other bank, do the transfer through your bank and let the transfer charge to be taken from your Europe bank account will cost less.

The other option is to open an addiyional Euro account with NBK in addition yo the local KD salaray account

it is well known that banks have the worst exchange rate; period.

therefore, what u need to do is head on down to mubarakiya, check the rates of several exchange shops there, exchange hard currency, then see if you can use western union to transfer that amount in EUR to a bank in EUR.

or just go to western union and check if they'll do it and at what rate.