Send money overseas with Bancoli to take advantage of bank-beating exchange rates

Compare today's SOS to ISK (Somali Shilling to Icelandic Krona) exchange rates

Somalia
Iceland
SOS

Interbank Exchange Rate: 1 SOS = 0.2153 ISK
Updated about an hour ago

Found 0 Remittance Service Providers

All you need to know about Somali Shilling to Icelandic Krona money transfers

Easily compare money transfer providers in one place to send money from Somalia to Iceland. Send money overseas to your loved ones by comparing Somali Shilling (SOS) to Icelandic Krona (ISK) remittance exchange rates. Read remittance service provider reviews and check out deals, promotions and discounts. Transfer online or send cash based on services offered by these providers.

Looking for a different option? You can browse all sending countries on our send money from hub, or view all destinations available when sending money from Somalia.

Were you looking to send money from Iceland to Somalia instead?

If you need to send international business money transfers and payments, get in touch with us to see how we can help protect your revenue.

Did not find the providers you were looking for? Please reach out to us at info@remitfinder.com, and we will do our best to add them to our platform.


Latest SOS to ISK Conversion Rates

Here are some latest SOS to ISK (Somali Shilling to Icelandic Krona) exchange rates for popular conversion amounts*.

1 SOS0.22 ISK
5 SOS1.08 ISK
10 SOS2.15 ISK
25 SOS5.38 ISK
50 SOS10.76 ISK
100 SOS21.53 ISK
150 SOS32.30 ISK
200 SOS43.06 ISK
250 SOS53.82 ISK
300 SOS64.59 ISK
400 SOS86.12 ISK
500 SOS107.65 ISK
600 SOS129.18 ISK
700 SOS150.71 ISK
800 SOS172.24 ISK
1,000 SOS215.30 ISK
1,500 SOS322.95 ISK
2,000 SOS430.60 ISK
2,500 SOS538.25 ISK
3,000 SOS645.90 ISK
4,000 SOS861.20 ISK
5,000 SOS1,076.50 ISK
10,000 SOS2,153.00 ISK
15,000 SOS3,229.50 ISK
20,000 SOS4,306.00 ISK
30,000 SOS6,459.00 ISK
40,000 SOS8,612.00 ISK
50,000 SOS10,765.00 ISK
100,000 SOS21,530.00 ISK

*Based on the Interbank Exchange Rate. Actual payout may vary based on the chosen money transfer provider.


What's the best way to send money to Iceland from Somalia?

It can be very confusing when sending money from Somalia to Iceland given so many choices. Additionally, Somali Shilling to ISK exchange rates fluctuate all the time. Remitfinder gives you the option to compare money transfers companies to choose the best exchange rate among this volatility while making the best deals and promotions available to you.

Choose Somalia to Iceland as your country combination and click search. We then compare many money transfer companies to bring you the best exchange rates to send money to Iceland from Somalia. In one single place, you can easily compare many providers to see which one is the best option for your next transfer.

To further help you maximize the return on your money, our partners add various promotions and discounts on our site. You can take advantage of various deals we have for Somali Shilling to Icelandic Krona remittances.


How to get the best exchange rate for sending money from Somalia to Iceland?

With ever changing remittance exchange rates, and umpteen new companies and startups to send money abroad coming up, it may seem hard at first to decide when to send money and which company to choose from for your Somalia to Iceland transfers.

RemitFinder provides a single place to compare many options so you can quickly and easily decide who to go with. Compare various banks, foreign exchange specialists, Fintech startups, remittance service providers, multi currency bank accounts and others in a single view to maximize the return on your SOS to Icelandic Krona international money transfers.

To help save your precious time and hard earned money, we also created the RemitFinder exchange rate alert. This is a totally free notification that will keep you updated daily on the latest Somali Shilling to Icelandic Krona exchange rates and ongoing deals and promotions. You can sign up for our rate alert and start saving now.


What's the cheapest way to transfer money from Somalia to Iceland?

While there are numerous ways to send money overseas, many come with steep fees and hidden charges that will make a big dent in your hard earned money. For example, if you send money from Somalia to Iceland via a bank, you will typically get charged high wire transfer fees. Often, both the sender and the recipient have to pay high fees for bank wire transfers.

A sure way to find the most cost effective way for Somali Shilling to Icelandic Krona remittances is to compare various foreign exchange operators out there. But, doing this manually is hard and time consuming. You may miss out on great rates from other providers that you may not even be aware of. This is especially relevant given the explosion of Fintech startups operating in the international money transfer arena.

Use RemitFinder to compare numerous remittance service providers in a single screen to easily see which companies are good at what and meet your selection criteria for getting the best Somalia to Iceland exchange rate.

Another sure shot way to reduce your cost and maximize the return on your money is to take advantage of deals and discounts our partners provide to RemitFinder users like you. We are constantly adding new providers, so make sure to regularly check in to see which money transfer options are the cheapest for SOS to ISK remittances.


Should I use my bank to send money from Somalia to Iceland?

We do not recommend using your local bank in Somalia for your next SOS to ISK overseas funds transfer. The reason for this is that banks are known to give you worse exchange rates and yet charge high foreign exchange fees. That is a double whammy that will make the transaction much more expensive for you.

That said, there may be circumstances you may want to consider your bank for your international funds transfer. For example, if you need to move a very large sum of money from Somalia to Iceland (for property purchase, or any such high value transaction), and do not want smaller transactions. In such cases, be sure to carefully inspect all details of the remittance transaction that your bank offers you. You can use the RemitFinder remittance search engine to compare your bank's quote with many other money transfer companies to try to negotiate a better deal with your bank.

Notwithstanding any unique circumstances as above, you will generally save more by relying on online foreign exchange companies for sending ISK to Iceland. These companies will let you use your local bank account in Somalia to pay for your Iceland money transfer, but will likely save you a lot of money by affording better rates and citing lower foreign exchange transaction fees.


What is the fastest way to transfer money from Somalia to Iceland?

If you need to convert SOS to ISK as fast as possible, there are definite steps you can take that will help you do so. You could pay for your transfer with cash, as well as have your recipient do a cash pickup for payout - both of these methods will speed up your money transfer.

That said, handling cash could be a safety issue given that both the sender and receiver have to physically carry cash (most agent locations are located in physical stores, malls, and retail outlets which may or may not be in a physically safer area). Additionally, due to the extra costs involved to set up and maintain physical locations, cash transactions tend to get a worse foresign exchange rate (contrasted with online/digital transfers). So, another option to move money quickly from Somalia to Iceland could be sending it to a mobile wallet. This would entail some slowness compared to cash transfers, but would be more safe.

Apart from the above, there are many other factors that can have an impact on your Somali Shilling to Icelandic Krona funds transfer speed. To arm you with all the knowledge you need to distinguish faster from slower remittance providers, we crafted a complete guide to remittances; this article touches upon everything you need to know to make the fastest money transfers to Iceland.

With so many choices available, make sure to compare various forex operators that enable you to remit money from Somalia to Iceland. Once you understand their services and the factors that affect how fast your money can be transferred overseas, you will be able to minimize the time your money is in transit.


Which are the best money transfer companies to transfer money from Somalia to Iceland?

The first step in selecting the best money transfer operators for Somalia to Iceland remittances is to have a list of potential companies that you could use. You can rely on RemitFinder for giving you several good options to start with. Simply give us your sending and receiving countries, and we will present numerous providers for you to easily compare.

The next part in deciding which provider to go with would depend on what you are looking for. There are many parameters on which these companies can be compared against each other, and it all depends on your preferences. For example, are you looking for low or 0 fees, the highest rate, quick transfer speed, etc.

Another factor that may help you decide which provider to go with would be any coupons and deals available for Somali Shilling to Icelandic Krona money transfers. Availing promotions is a sure shot way to help reduce your cost, and should be part of the criteria to decide which are your top candidates for sending money to Iceland.


Step by step guide to send money from Somalia to Iceland

There are many important aspects of Somalia to Iceland remittances that will impact the yield you get. The most important one is the selection of the best money transfer company. For this, you can rely on RemitFinder's expertise in searching and comparing many global companies to present you many options in one simple, easy to understand view.

Once you have honed down on the company you want to go with, the below step by step tutorial will help you execute your transfer in an effective manner.

  • Step 1 - Create your account with the chosen remittance company. Please be aware that you will likely be asked for identification documents and personal information. This is an important step for the company to ensure that you are a genuine person and ensure you comply with various legal regulations like anti money laundering.
  • Step 2 - Provision the manner in which you will fund your remittance transaction. The forex company may accept payment in multiple ways - Somalia bank account, credit and debit cards, and sometimes even cash that you can pay with by walking into a branch or outlet.
  • Step 3 - Similar to the previous step, also provision the manner in which the receiver will access the funds. The most common delivery methods include ISK bank deposit, cash pick up in a physical provider location or agent's office, mobile wallet credit and mobile airtime popup.
  • Step 4 - Provision recipient details including name and address.
  • Step 5 - Decide how much Somali Shilling amount you want to send from Somalia.
  • Step 6 - Optionally, check if there are any deals or promotions going on. You can rely on RemitFinder to provide you this information. Discounts help you save even more, so be sure to use one if available.
  • Step 7 - Validate all the information for accuracy and start your transaction.

From this point on, the remittance company will keep you posted on the progress of your transaction. Be sure to check with your recipient in Iceland to validate that they get the money once the transaction clears.