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Send money to Europe
Compare providers who can send euros based on cost and speed.
The euro is one of the world’s most popular currencies, which means that you have options when it comes to transfers to Europe. An online money transfer company is usually the cheapest option, but a cash transfer will arrive the fastest.
Send money to Europe with XE
XE has fast transfers with low fees and a range of foreign currency tools.
- Send money to 130+ countries
- Competitive exchange rates that are often better than banks'
- Low transfer fees
Compare transfer providers
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Best ways to send money to Europe
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Europe. Some offer cash pickup in as little as a few minutes, while others transfer to bank accounts.
1. Digital money transfer servicesCompanies like XE and Wise specialize in foreign currencies, making them some of the most cost-effective ways to send money to Europe. Most offer transfers directly to your recipient's bank account in Europe, often in as little as a day or two.
- Why? Digital money transfer services are cheaper because they exist online and don't have as many employees or physical locations.
2. Cash transfersServices like Remitly and WorldRemit allow you to transfer cash for pickup at a local branch in Europe— often in 15 minutes. While it's a fast way to send money, you'll pay for the convenience in weak exchange rates and high fees.
- Why? Picking up cash is more expensive because more people are involved.
3. BanksThe euro may be offered by your bank, but beware of high fees and wide margins on the exchange rate. Compare bank transfers to digital services and other options before sending a wire transfer to Europe.
- Why? Banks offer money transfers as a secondary service so don't strive to offer competitive prices.
Let's crunch the numbers: Sending $1,000 to EuropeLet's say you need to send $1,000 to family in Europe. Here's what you might face as far as fees and exchange rates using today's rate of 1 USD = 0.823 EUR.
|Digital money transfer service||Cash transfer||Bank transfer|
|Fee||$0||$4||$25 + additional correspondent bank fees|
|Exchange rate||1 USD = 0.821 EUR||1 USD = 0.819 EUR||1 USD = 0.782 EUR|
|Transfer speed||1-2 days||Minutes||2-5 days|
The bank option ends up being the slowest and gets the smallest amount of money to your recipient in Europe. A digital transfer sends the most, which is EUR€58 more than the bank. For speed, a cash transfer can typically have your transfer to Europe in as little as 15 minutes. Make sure there's a cash pickup location near your recipient before sending.
How to send money to Europe online
Sign up and send money to Europe with a digital money transfer specialist in four steps:
- Sign up for a free account. Compare and pick a provider before signing up for a free online account using your contact information, proof of ID and preferred payment method.
- Provide transfer details. Submit your recipient's contact information and pick a delivery method. If transferring to a bank, you'll need their bank account details in Europe.
- Confirm transfer details. Double-check your payment method, expected fees and destination.
- Save your receipt. Record your receipt's confirmation number to track the progress of your transfer to Europe. Some money transfer providers send a text or email when your transfer is complete.
Get the most out of your money transfer to Europe
Weigh costs and fees against convenience to best compare money transfer providers that send to Europe. Consider:
- Exchange rates. The USD–EUR relationship fluctuates, so using a service that allows you to lock in exchange prices may help you save money down the line if the euro rises against the US dollar.
- Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger USD–EUR exchange rate.
- Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the amount of euros you're sending to Europe.
- Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to Europe.
- Sending limits. Comparing prices for one large transfer instead of many small transfers is typically easier, so picking the service you use based on how much you're sending is a valid strategy for saving money.
- Transfer methods. Whether you want money sent to a bank account in Europe or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.
How to send money to Europe without a bank accountIf you don't have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up euros without a bank account.
Emergency cash transferWhen urgency trumps cost to get your money to Europe quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.
Europe's exchange rates explained
Banks and money transfer companies use exchange rate to calculate how much Europe's currency is worth when converted to USD. The USD-EUR relationship can change daily based on global economic stability, interest rates, inflation and more.Today's exchange rate USD to EUR
What to watch out for
Sending money to relatives or family members in Europe may be subject to taxes on the money transfer and certain documents may be required.
Taxes on transfers to Europe
In general, any large transfers being sent from the US to Europe should be filed with the IRS to avoid any penalties.
Receiving money in Europe:
- Transfer confirmation details like a transfer number, an MTCN, a reference number or a tracking number, depending on the company.
- Government-issued ID like a passport or similar official ID may be required to pick up your transfer.
- Sender's information. Take along your sender's full name, the sending country and their address, if known.
Sending to Europe from the US:
- Proof of identification like a government-issued ID or your SSN number.
- Recipient information like their name, address and bank account information in Europe.
Sending your hard-earned money to Europe shouldn't cost a fortune. Compare money transfer companies that specialize in foreign transactions for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country-specific guides the next time you need to make a transfer.
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