Find the lowest fees and best exchange rates so that you can send money to Sweden without breaking the bank.
More than 4.3 million Americans, or 1.4% of the population, are of Swedish descent. Most of those people can trace their ancestry back to the 1.2 million Swedish immigrants who arrived in the United States during the period from 1885 to 1915, but despite the fact that their forefathers arrived here more than a century ago the links between the US and Sweden remain strong.
If you ever need to send money to Sweden for any purpose, you won’t have any trouble finding a company willing to take care of the transfer — the hard part is finding one that offers value for money.
Compare International Money Transfers
Banks versus money transfer companies
When faced with the prospect of sending money overseas, most of us immediately think of our banks. While any major bank can send international wire transfers with ease, however, they also charge you high fees for doing so and offer exchange rates that are less than impressive.
You can actually save a substantial amount of money if you look around for a better deal from a money transfer service. These companies, some of which are based online and others which offer agent networks around the world, can offer better exchange rates and lower fees than you’ll likely get from your bank. The end result of this is more money staying in your pocket and a larger amount arriving into your beneficiary’s hands.
Sven has relocated to the United States and become a citizen, but he still stays in regular contact with his parents back home in Malmo. He wants to send them $1,000 as a gift for their 30th wedding anniversary but is unwilling to accept the low exchange rate he is offered by his bank. He decides to check out the fees and features of two money transfer services to see if there’s a better deal available.
|Money transfer company 1||Money transfer company 2|
|Exchange rate||1 USD = 8.288 SEK||1 USD = 8.383 SEK|
|Transfer method||Bank account deposit||Bank account deposit|
|Processing time||3 business days||1-3 business days|
|Amount received (in SEK)||8,288 SEK||8,383 SEK|
As you can see, Sven’s parents will receive almost 100 SEK extra if he uses the second transfer company.
How to compare transfer companies when transferring money to Sweden
- Exchange rates. The exchange rate is a crucial factor in determining whether you get value for money from your transfer, so look for a provider with consistently high rates.
- Fees. Compare the transfer fee each company charges and also check to see if there is a fee-free threshold for large transfers.
- Transfer methods. Companies offer one or more of the following methods: online transfers, phone transfers, in-branch transfers and smartphone/tablet app transfers.
- Transfer options. Check to see whether options such as forward contracts and limit orders are offered.
- Turnaround time. Compare transaction processing times and see if one company can send quicker transfers without charging higher fees than others.
- Minimum transfers. Check the fine print to see if any minimum or maximum transfer limits apply.
- Pickup methods. Will your beneficiary be able to visit a transfer branch and collect the cash you send, or will the money be sent straight to their bank account?
- Customer service. Is reliable customer support offered whenever you need it?
How to send money to Sweden from America
- Bank transfers. A bank-to-bank transfer is an easy but expensive option.
- Online money transfer providers. Companies such as USForex and WorldRemit can save you money compared to the banks.
- Money transfer companies with cash pickup options. Check out the transfer options available from companies like Western Union and MoneyGram.
- PayPal. Use your PayPal account to send money overseas.
- Checks. An international check can be obtained from your bank and cashed by your recipient in Sweden.
Emergency cash transfers in Sweden
If you ever need to send an emergency transfer it’s important that you make sure you’re fully aware of the total cost of your transaction. High fees and low exchange rates usually apply to rapid transfers, so don’t be rushed into handing over your money before you know all the details. Once you know exactly how much a transaction costs you can then decide whether you are getting a good deal or whether you’re getting short-changed.Back to top
Cash pickup locations in Sweden / Western Union / MoneyGram branches in Sweden
Western Union and MoneyGram operate extensive transfer networks throughout Sweden and around the world. You can send funds which your recipient can collect from one of the popular cash pickup locations listed below or another Western Union or MoneyGram branch across Sweden. Just make sure your beneficiary has photo ID and can provide details of the transaction when they go to collect the funds.
Dream Bow Travel
Stockholm, 111 52
Open 10 am to 6pm Monday to Friday, 11am to 3pm Saturday
Stockholm, Stockholm 11153
Open 9:45am to 8:15pm seven days
Malmo, Skane 21125
Open 9:30am to 7pm Monday to Friday, 10am to 7pm Saturday
Malmo, Skane 21122
Open 10am to 6pm Monday to Friday, 10am to 3pm Saturday
Stockholm, 111 29
Open 9am to 7:30pm Monday to Friday, 10:30am to 6:30pm Saturday, 12pm to 6pm Sunday
Stockholm, 111 46
Open 8:50am to 6:05pm Monday to Friday, 10:50am to 4:05pm Saturday
Malmo, 211 54
Open 9am to 6pm Monday to Friday, 9am to 4pm Saturday
HB African Shop
Malmo, 212 18
Open 9am to 10:30pm seven daysBack to top
Tips for picking up cash in Sweden
- Do not pick up cash if you do not feel safe or if you are not at an authorised agent location
- Don’t let any strangers see that you have just collected a big pile of cash
- Avoid high-crime areas
- Don’t carry the cash on your person for any longer than you need to
Deposit the money with your bank or in a secure hotel safe as soon as possibleBack to top
How to send money to Sweden
Before you can send an overseas money transfer you’ll need to provide some information about yourself. Along with your name, address and contact details you will also need to present photo ID.
The money transfer company will then need to know more about your recipient, including their name and contact information, as well as the details of how much money you wish to send and in what currency.
Once you’ve provided all the necessary information and handed over your cash, most companies will give you a reference number that you can use when you want to track your transfer.