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Looking for the best way to send money from the United States to family, friends or businesses in Sweden (or even to your own overseas bank account)?
Don't head straight to your American bank – compare specialist money transfer services instead. They nearly always offer better SEK exchange rates and lower fees, so for the same amount of US dollars you send, your recipient will receive more Swedish kronas.
Of the companies we've compared, MoneyGram is among the cheapest, with competitive exchange rates and fees starting from From $0. Need a really fast transfer? MoneyGram can get money to your recipient in Sweden within minutes.
Bank transfers are typically the cheapest way to get your money to Sweden. MoneyGram and Wise (TransferWise) have some of the lowest bank transfer fees of the brands we've compared.When you're hunting down the cheapest ways to send money to Sweden, it's more important to look at the overall cost of your transfer. This has a couple of elements:
Some providers may charge the mid-market rate but add fees on top. Others may have very low fees but apply a markup on the exchange rate. This means it is important to compare exactly how many Swedish kronas your recipient will end up with.
Many online providers can offer transfers to Sweden within minutes, although you're likely to pay a premium for the convenience.Here are some of the fastest average transfer speeds to Sweden:
Actual transfer times from the United States to Sweden can depend on several different factors including transfer amount, payment method and currency.
The safest way to get your money to Sweden is to use a provider registered with the United States's industry regulator, the Consumer Financial Protection Bureau. All of the companies we've compared in our table are overseen by a local regulator and comply with the relevant laws and regulations in both the United States and Sweden.
A great way to dive deeper is by reading our extended reviews of each transfer service and researching first-hand customer feedback on Trustpilot and similar platforms.
If you need to make a sizable money transfer to Sweden, consider using a provider such as Currencies Direct or OFX to benefit from its expertise in handling larger transfer amounts.Using a large transfer specialist can have the following advantages:
To send money to Sweden, you'll need the necessary documentation, your recipient's details and a way to pay.
William is working in the United States as a software engineer and he stays in regular contact with his elderly parents back home in Sweden. His parents need some funds to help pay off a mortgage, so William plans to send them $2,000 from the United States.
He decides to compare a bank and a money transfer specialist to see which one can save the most money on his transaction.
|Bank||Money transfer company|
|Exchange rate||1 USD = 10.17 SEK||1 USD = 10.30 SEK|
|Transfer method||Bank account deposit||Bank account deposit|
|Processing time||2 - 5 working days||Next day|
|Amount received||20,235.53 SEK||20,580.69 SEK|
The money transfer company enables William to send an extra kr345.16, which is transferred straight to his parents' Svenska Handelsbanken account.
When choosing a money transfer provider to send money from the United States to Sweden, it's important to consider the cost, how you want your recipient to receive the funds and the turnaround time. Here are other features to review:
Compared to a month ago, the US dollar is a little weaker against the Swedish krona. Currently $5,000 is equivalent to kr51,775.00, whereas a month ago, $5,000 was equivalent to kr51,941.00. That's a decrease of 0.32% over the past month.
But compared to a year ago, the US dollar is stronger against the Swedish krona. A year ago, $5,000 was equivalent to kr47,064.00. That's an increase of 10.01% over 12 months.
What's more important, however, is where the strength of the US dollar against the Swedish krona goes from here – which is harder to call. But whichever way it goes, shopping around has the potential to get you more Swedish kronas for your US dollars and can help you get the best out of any market conditions.
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I need to know what’s the best way to send the money to someone in Sweden from the United States. the person doesn’t have any bank account back there because he is waiting for the immigration response. however, he needs money and as a friend, I would like to help him.
Thank you for getting in touch with finder.
There are many money transfer companies with cash pickup options since your friend has no bank account. You can ask him/her to check out the transfer options available from companies like Western Union and MoneyGram near your friend.
I hope this helps.
Have a great day!