Danske Bank international transfer: Fees, rates and transfer times

Danske Bank, Denmark’s largest bank, is a major player in northern Europe. It has a lot of international ties, so it’s no surprise that its customers are able to transfer money abroad in several ways. However, international transfers always come with a fee and it’s good to know in advance how much your bank will charge you for this.

That’s why we’ve created a guide to Danske Bank UK international transfer. This includes fees, exchange rates, transfer limits and how long it will take for your transfer to arrive.

And if you’re looking for an alternative to traditional banks, the money services provider Wise might be a good option. With the Wise account, you’ll be able to send money abroad for much lower fees* compared to leading UK high street banks. Wise uses the mid-market exchange rate and there are no hidden charges.

Learn more about the Wise account

What are the fees for an international transfer with Danske Bank?

Since international transfers are sent by SWIFT, that means there are more fees than if you were sending a euro SEPA transfer or money inside Denmark itself. Not only that, but if, for some reason, Danske Bank needs to use one or more intermediary banks, then each of those banks will also deduct a flat fee from the amount you’re transferring. That can add up pretty fast and come as quite a surprise.

Let’s get into more detail and start with Danske Bank’s international transfer fee.

Danske Bank international transfer fees¹

Here are the charges for international transfers with Danske Bank:

Danske Bank exchange rates

The exchange rate offered can be just as costly - often more so - than fixed fees. Banks can set their own exchange rates when they make international transfers, which frequently means that they are not the best rate you can get - they’ll probably be a lot worse than the mid-market rate that you’ll find on Google or XE.

If you’re sending money with Danske Bank and you agree with them to make the exchange from one currency to another, you can expect them to add a margin into the rate. Danske Bank keeps a list of their exchange rates online.

From the data they list online, here are a few currencies and the exchange rate Danske Bank lists online at the time of writing:

There’s also a currency converter on their website, but it doesn’t include any fees or charges that might apply. This could give you some indicative values and help you see how much you’ll roughly get.

Before you do send money or agree on an exchange rate, however, it’s a good idea to compare it to the information from another online currency converter or with a quick Google search. That will give you a better idea of whether or not the rate and fees you’re being charged are actually fair. Exchange rates are a huge place where customers often miss out on the largest chunk of their cash, so it never hurts to double check before you commit.

Additional fees from Danske Bank³

There are some fees that apply in certain situations. For example, if you don’t enter BIC (SWIFT address) when making your transfer, it will need to be processed manually at the bank. This costs another £6, so try to enter all the necessary information.

Also, if you don’t include a valid IBAN in your euro payment instructions or if the IBAN is invalid, Danske Bank will charge you a £8 fee.

If you need some extra services, such as additional processing of a payment or if you need advice or additional information, Danske Bank might charge you an additional fee. And depending on the precise details of your transfer, you could also find yourself facing fees set by other banks involved in the transfer. As the intermediary bank fees aren’t set by Danske Bank, it might be tricky to find out exactly what they will be.

When you use Wise for sending money abroad, there won’t be any hidden or surprise fees*. You can transfer money internationally quickly and in a completely transparent way.

How do you make an international bank transfer with Danske Bank?

With Danske Bank, it’s easiest to make the foreign transfer online - their system is designed to save you money and effort. But you can also pay in a branch if you prefer, but be aware upfront that this will likely cost you a bit more.

To do it online, first make sure you’re registered with Danske Bank’s online service. You’ll need your login details, and then, once you’re in, navigate to the international payments section and follow the instructions on screen.

What do you need to make an international money transfer with Danske Bank?⁴

These are the details you’ll need to provide in order to make a Danske Bank UK international transfer:

• Your ID
• Your account number
• The recipient’s account number
• The recipient’s sort code/BIC/IBAN
• The amount you wish to send
• The currency in which you want the transfer to be made

Make sure you check whether they need something else.

When does the transfer arrive to the recipient’s account?⁴

The transfer time mainly depends on the currency. When it comes to standard transfers, many currencies, including euros and pounds, have one day delivery. Others arrive in 1-2 working days.

Express transfers are usually done the same day. In some cases, an additional day is needed.

What’s the maximum transfer limit with Danske Bank?⁵

The limit for payments via Danske Bank’s app is up to £10,000 per day. If you need to make any additional transfers, you can transfer up to £25,000 via desktop eBanking.

If you need to make payments which exceed this limit, this can only be done in a Danske Bank branch.

How to contact Danske Bank?

You can contact Danske Bank by calling 0345 600 2882 every working day from 8am to 6pm and on Saturday between 9am and 1pm. The customer service centre is closed on Sundays.

In case you need help with eBanking and mobile banking, dial 0345 603 1534 every working day from 8am to 6pm and between 9am and 5pm on weekends. Their international number is +44 (0)28 9004 9219.

You can also schedule an online meeting, use the online chat or visit one of their branches.

Send money internationally with Wise

Since banks normally add in a margin to the exchange rate, that means you can generally get a better exchange rate with Wise than you could if you sent your money via regular banks. And Wise only charges a simple transfer fee*. The cost is stated upfront and is based on the amount you’re sending.

In addition, with a Wise account, you’re able to move and hold money in 40+ different currencies even more easily. So if you work in one place but get paid in the EU, the UK, the US or Australia, you can get local bank details for those regions and get paid like a local. Which also means if you often need to transfer money abroad or have access to money in different currencies, it can save you a lot of bother - and a lot of money.

Sign up with Wise today

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

Sources used:

Sources last checked on date: 09-Sep-2024