Cheapest Ways to Send Money To and From Sweden in 2026

Whether you're sending money home, receiving payments from abroad, or supporting family overseas, choosing the right transfer service can save you hundreds of euros per year. This guide compares all major options for international money transfers involving Sweden.

Quick Comparison: Best Services

Here's what you'll pay to send 10,000 SEK (~900 EUR) from Sweden to the Eurozone:

Service	Fee	Exchange Rate	Recipient Gets	Total Cost
Wise	55 SEK	Mid-market	~892 EUR	~0.9%
Revolut	0-50 SEK	Near mid-market	~890 EUR	~1.1%
Remitly	0 SEK	-1.5% margin	~881 EUR	~1.5%
PayPal	35 SEK	-3.5% margin	~858 EUR	~3.9%
Swedish Bank	150 SEK	-2-4% margin	~850 EUR	~4.6%

Winner: Wise offers the best combination of low fees and fair exchange rates.

The Exchange Rate Problem

Before comparing services, understand the two ways you get charged:

1. Transfer Fee

The obvious fee you pay per transfer: 50 SEK, 100 SEK, etc.

2. Exchange Rate Markup

The hidden cost. Compare:

• Mid-market rate: 1 EUR = 11.20 SEK (the real rate you see on Google)
• Bank rate: 1 EUR = 11.50 SEK (marked up 2.7%)

On a 10,000 SEK transfer, that markup alone costs you 230 SEK!

Always calculate total cost: Fee + exchange rate difference.

Best Services Ranked

1. Wise (Formerly TransferWire) - Best Overall

Why it's best: Transparent fees, true mid-market rate, fastest for most currencies.

Feature	Details
Fees	0.4-1.0% depending on currency
Exchange rate	Mid-market (Google rate)
Speed	Minutes to 2 days
Max transfer	High limits with verification
Currencies	50+

Pros:

• Always shows true mid-market rate
• Very transparent fee calculator
• Multi-currency account available
• Holds 40+ currencies
• Wise debit card for spending abroad

Cons:

• Not the cheapest for very large transfers
• Bank transfer can take 1-2 days

Best for: Regular transfers, transparency lovers, multi-currency needs.

Example - Send 20,000 SEK to USD:

• Fee: ~115 SEK
• Exchange rate: Mid-market
• Recipient gets: ~$1,780 USD
• Total cost: ~0.6%

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2. Revolut - Best for Small Amounts

Why it's good: Free or very cheap transfers within limits.

Feature	Details
Fees	Free up to limits, then 0.5%
Exchange rate	Near mid-market (0.1-0.3% spread)
Speed	Instant to 5 days
Free limit (Standard)	1,000 GBP equivalent/month
Currencies	30+

Pros:

• Free transfers within monthly limit
• Hold and exchange 30+ currencies
• Great app
• Instant card spending abroad
• No Swedish personnummer required

Cons:

• Worse rates on weekends
• Free limits reset monthly
• Customer service can be slow
• Not a Swedish bank (no BankID)

Best for: Small, frequent transfers; travelers; new arrivals.

Weekend warning: Revolut adds 0.5-1% markup on weekends when forex markets are closed.

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3. Remitly - Best for Specific Corridors

Why consider it: Excellent rates for specific country pairs.

Feature	Details
Fees	Often 0 SEK
Exchange rate	Varies by corridor (0.5-2% spread)
Speed	Minutes to 3 days
Specialty	Emerging markets

Pros:

• Zero fees on many transfers
• Great for sending to Philippines, India, Mexico, etc.
• Cash pickup options available
• Mobile wallet delivery

Cons:

• Rates vary significantly by destination
• Less competitive for EUR/USD
• Limited currency options

Best for: Sending to developing countries, cash pickup needed.

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4. Western Union - Best for Cash Pickup

Why still relevant: Global network for recipients without bank accounts.

Feature	Details
Fees	50-200 SEK depending on destination
Exchange rate	1-4% spread
Speed	Minutes (cash) to 3 days (bank)
Locations	500,000+ worldwide

Pros:

• Cash pickup nearly anywhere
• Established, trusted name
• Receiver doesn't need bank account
• In-person option at locations

Cons:

• Higher total cost than online services
• Exchange rate not competitive
• Fees vary wildly by destination

Best for: Emergencies, recipients without banks, remote locations.

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5. PayPal - Most Convenient (But Expensive)

Why people use it: Easy, familiar, widely accepted.

Feature	Details
Fees	5% for international transfers
Exchange rate	3-4% spread
Speed	Instant to PayPal, days to bank

Pros:

• Easy if both parties have PayPal
• Instant PayPal-to-PayPal
• Buyer protection for purchases

Cons:

• Very expensive for pure transfers
• Poor exchange rates
• Fees add up quickly

Best for: Online purchases only, not money transfers.

Warning: PayPal's total cost is often 7-8% when including exchange rate markup.

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6. Swedish Banks - Least Recommended

Why to avoid: High fees, terrible exchange rates.

Bank	Transfer Fee	Exchange Markup
Handelsbanken	150 SEK	2-4%
Swedbank	100-200 SEK	2-3.5%
SEB	150 SEK	2-4%
Nordea	100-150 SEK	2-3%

When banks make sense:

• Large business transfers (negotiated rates)
• Transferring to your own foreign account
• Specific bank-to-bank requirements

Example - Send 50,000 SEK to EUR via Swedbank:

• Fee: 200 SEK
• Exchange rate spread: ~2.5% (1,250 SEK loss)
• Total cost: ~1,450 SEK (~2.9%)

Via Wise:

• Fee: ~270 SEK
• Exchange rate spread: 0 SEK
• Total cost: ~270 SEK (~0.5%)

Savings with Wise: 1,180 SEK

Comparison by Transfer Size

Small Transfer (5,000 SEK)

Service	Total Cost	Recommendation
Revolut	0-50 SEK	Best
Wise	~35 SEK	Great
Bank	~300 SEK	Avoid

Medium Transfer (25,000 SEK)

Service	Total Cost	Recommendation
Wise	~150 SEK	Best
Revolut	~125 SEK	Great (if within limits)
Bank	~800 SEK	Avoid

Large Transfer (100,000 SEK)

Service	Total Cost	Recommendation
Wise	~550 SEK	Best
OFX	~400 SEK	Consider for very large
Bank	~3,000+ SEK	Avoid

Very Large Transfers (500,000+ SEK)

For transfers above 500,000 SEK, consider:

• OFX - Better rates for large amounts
• Currencies Direct - Good for property purchases
• Bank negotiated rate - Ask for forex desk rates
• Wise Business - Higher limits than personal

Speed Comparison

Service	Express Option	Standard Time
Wise	Instant (debit card)	1-2 days
Revolut	Instant (within Revolut)	2-5 days
Remitly	Minutes (mobile wallet)	1-3 days
Western Union	Minutes (cash pickup)	1-3 days
Bank	1-2 days (SEPA)	3-5 days

Specific Corridors from Sweden

Sweden to USA (SEK → USD)

Service	Rate	Fee	Total Cost
Wise	Mid-market	0.5%	~0.5%
Revolut	-0.2%	0-0.5%	~0.3-0.7%
Bank	-3%	150 SEK	~3.5%

Sweden to UK (SEK → GBP)

Service	Rate	Fee	Total Cost
Wise	Mid-market	0.4%	~0.4%
Revolut	-0.1%	0%	~0.1%
Bank	-2.5%	150 SEK	~3%

Sweden to India (SEK → INR)

Service	Rate	Fee	Total Cost
Wise	Mid-market	0.8%	~0.8%
Remitly	-0.5%	0	~0.5%
Western Union	-2%	100 SEK	~2.5%

Sweden to Philippines (SEK → PHP)

Service	Rate	Fee	Total Cost
Remitly	-0.3%	0	~0.3%
Wise	Mid-market	1.0%	~1.0%
Western Union	-2%	100 SEK	~2.5%

Receiving Money in Sweden

From Within EU (SEPA)

Free SEPA transfers are standard:

• No fee for receiving EUR
• Converted to SEK by your bank (poor rate)
• Better: Receive into a multi-currency account

Best approach:

1. Open Wise multi-currency account
2. Receive EUR in EUR
3. Convert to SEK at mid-market rate
4. Transfer to Swedish bank

From Outside EU

Service	Receiving Fee
Wise	Free (to Wise account)
Revolut	Free
Swedish Bank	Usually free
PayPal	1-2%

Watch for: Correspondent bank fees (intermediary banks can deduct 20-50 USD/EUR).

For Freelancers/Remote Workers

If you receive regular payments from abroad:

1. Wise Business - Multi-currency invoicing
2. Payoneer - Popular for freelance platforms
3. Revolut Business - Good for EU payments

Setting Up for Success

Step 1: Create Accounts Now

Sign up for these before you need them:

• Wise - Primary for large transfers
• Revolut - Backup and small amounts
• Remitly - If sending to developing countries

Step 2: Verify Identity

All services require:

• Passport or EU ID
• Proof of address (bank statement, utility bill)
• Sometimes: Selfie verification

Do this before your first urgent transfer!

Step 3: Link Payment Methods

Add your Swedish bank account:

• Bank transfer (cheapest, 1-2 days)
• Debit card (instant, slightly higher fee)

Step 4: Set Up Rate Alerts

Wise and others offer alerts when your target rate is reached:

• Set your desired SEK/EUR rate
• Get notified when it hits
• Lock in the rate

Tax Implications

Sending Money Out

Generally no tax issues, but:

• Large transfers may trigger bank questions
• Keep records for tax declaration
• Gift tax doesn't exist in Sweden (good news)

Receiving Money

• Income is taxable (salary, freelance)
• Gifts from abroad: Not taxable in Sweden
• Inheritance: Generally not taxable
• Investment returns: Taxable

Keep records of all transfers for 7 years.

Avoiding Scams

Common money transfer scams:

1. Fake "better rate" services - Stick to established providers
2. Phishing emails - Never click links, go directly to sites
3. Romance scams - Be cautious sending to new acquaintances
4. Overpayment scams - Never refund "overpayments"

Red flags:

• Rates too good to be true
• Pressure to act quickly
• Unusual payment methods requested
• No company registration/license

Summary

Best Overall: Wise

• Transparent pricing
• True mid-market rate
• Works for most currencies

Best for Small Amounts: Revolut

• Free up to monthly limits
• Great for travelers
• Multi-currency account

Best for Developing Countries: Remitly

• Often zero fees
• Cash pickup available
• Good rates to specific countries

Avoid: Swedish Banks

• High fees
• Poor exchange rates
• Only use for specific requirements

Annual savings example: Sending 50,000 SEK abroad monthly:

• Via bank: ~1,500 SEK cost/month × 12 = 18,000 SEK/year
• Via Wise: ~300 SEK cost/month × 12 = 3,600 SEK/year
• Savings: 14,400 SEK/year

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Want to know how much salary you'll have after Swedish taxes? Use our Salary After Tax Calculator to plan your budget.