Best Ways to Send Money to Europe Safely and Affordably

Currency Exchange
April 24th, 2025
Best Ways to Send Money to Europe Safely and Affordably

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Sending an international money transfer to Europe is easy. Whether you want to help family, pay bills, or manage your own accounts abroad, knowing some good tips is important. Learning about exchange rates can help you get better value for your money and avoid delays.

The most popular ways to send money to Europe include bank transfers, online money transfer services like PayPal or TransferWise, and traditional money wiring services such as Western Union. Each method offers varying speeds, costs, and convenience levels to suit different needs.

What Are the Best Ways to Send Money to Europe?

You have a few options depending on where you are sending items, how much you are sending, and how fast it needs to arrive.

1. Bank Transfers

Traditional bank transfers are a secure option. This is true when you send money from the United States or from high street banks in the UK. You will need:

  • The bank name, account number, and institution number of the person receiving the money.
  • The International Bank Account Number (IBAN) along with SWIFT or BIC codes.
  • Details about the bank code and payment type.
  • If necessary, the Japanese yen SWIFT, JPY account details, NZD account details, or SGD account details depending on the type of currency you choose.

You can use online banking to transfer money straight from your current account. Sometimes, you can also move money from your own accounts that have different currencies.

2. Online Money Transfer Services

Digital providers, such as those offering Wise’s local bank account options, provide cheaper transfers and clear pricing. You can use these services to make payments with a debit card, credit card, or direct debit.

They often provide:

  • Clear fees before you start
  • Fast processing and great speed of transfers
  • Instant money transfer for urgent payments
  • Tools for several currencies, like Ugandan shilling, Norwegian krone, Swedish krona, and Israeli shekel

Some people can also make transfers using QR codes, mobile apps, or by linking their Facebook account or email address.

3. Cash Pick-Up and Alternative Services

Some services allow you to pick up money in local currency or through e-wallet deposits. This is useful for popular routes where regular banking can be slow or not an option.

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How to Reduce the Total Cost of Your Transfer

Understand Exchange Rate Markups

Many companies claim they have “no fees,” but they really earn money through exchange rate markups. This means you might get a rate that is worse than the market rate. Always compare exchange rates. Look at how different services match up against one another.

Use SEPA for Euro Transfers

In the Single Euro Payments Area (SEPA), it is cheaper to send euro transfers. This is especially true when you send money from the European Union or the European Economic Area.

Confirm the Total Cost Upfront

Use services with:

  • Clear pricing or a simple pricing model
  • A clear list of all international bank transfers costs
  • A promise of the cost of your transfer before you send it

What Details Do You Need to Send Money?

You’ll need:

  • The recipient’s full name, bank name, and account type.
  • Information about the bank account, including IBAN, BSB code, and SWIFT or BIC.
  • A possible photo of your ID and personal data for verification.
  • Details for their ILS account details, HUF account details, or other currency information.

Some providers offer options for monthly payments. This is helpful for regular support or paying rent while you are away. Always be cautious of the most sophisticated fraud methods. Be sure to check the recipient’s details before you confirm any large transfers.

Exchange Rate Tips for Sending Money to Europe

  • Compare rates for cheaper transfers, especially for less common currencies.
  • Use alerts in your online banking app to find the best times to send money.
  • Look at your previous transfers to see patterns in exchange rate changes.
  • Try not to send on weekends; use a working day for faster processing.
  • Check if you are sending to one of the most popular banks to avoid delays.

Exchange Rate Tips for Sending Money to Europe

Correct as of 24 March 2025

FAQs About Sending Money to Europe

What is SEPA and why is it important?

The Single Euro Payments Area (SEPA) allows you to send euro bank transfers in Europe quickly and easily. It offers a simple method for doing this. Plus, the costs are often lower.

How do I avoid hidden fees when sending money to Europe?

Check the total cost upfront. Try to avoid any exchange rate markups. Use providers that follow an open pricing model.

Are online money transfer services secure?

Trusted services do use encryption. They stick to the rules from financial institutions. Always make sure you are on a secure platform. This way, you can protect your personal data.

What details are needed for a European bank transfer?

You will need the person’s account number, IBAN, SWIFT, bank code, and any other details the country you are sending money to may require.

Can I send money to Europe using a credit or debit card?

Yes, lots of services accept debit and credit cards. However, remember that credit cards may charge fees. Options like Google Pay, Apple Pay, or instant money transfer apps can offer you more flexibility.

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