What is the cheapest way to send money abroad?
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Find the cheapest international money transfer
The cost of your transfer comes from the fee and the exchange rate. Many high street banks offer “no fee”, while hiding a markup in the exchange rate, making you pay more.
At Wise, we’ll never do that. We only use the mid-market exchange rate, and show our fees upfront. This table compares the fees you’d really pay when sending money with the most popular banks and providers, or with us.
How do we select providers and collect this data?| Sending 1,000 GBP with | Recipient gets(Total after fees) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
 | 1,187.89 EUR | ||||||||||
Transfer fee 3.88 GBP Exchange rate(1 GBP EUR) 1.19252 Exchange rate markup 0 GBP Cost of transfer 3.88 GBP | |||||||||||
 | 1,150.06 EUR- 37.83 EUR | ||||||||||
Transfer fee 0 GBP Exchange rate(1 GBP EUR) 1.15006 Exchange rate markup 35.61 GBP Cost of transfer 35.61 GBP | |||||||||||
 | 1,149.91 EUR- 37.98 EUR | ||||||||||
Transfer fee 0 GBP Exchange rate(1 GBP EUR) 1.14991 Exchange rate markup 35.73 GBP Cost of transfer 35.73 GBP | |||||||||||
 | 1,141.89 EUR- 46 EUR | ||||||||||
Transfer fee 0 GBP Exchange rate(1 GBP EUR) 1.14189 Exchange rate markup 42.45 GBP Cost of transfer 42.45 GBP | |||||||||||
 | 1,133.25 EUR- 54.64 EUR | ||||||||||
Transfer fee 2.99 GBP Exchange rate(1 GBP EUR) 1.13665 Exchange rate markup 46.85 GBP Cost of transfer 49.84 GBP | |||||||||||
See why customers choose Wise for their international money transfers
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Best ways to send money internationally
PISP
PISP (Payment Initiation Service Provider) payments are instructions you give Wise to make a bank transfer directly from your bank account — without having to leave our app and log in to your online banking. This option is as cheap as a manual bank transfer, but it isn’t supported by all banks yet.Bank Transfer
Bank transfers are usually the cheapest option when it comes to funding your international money transfer with Wise. Bank transfers can be slower than debit or credit cards, but they usually give you the best value for your money. Read more how to use bank transfers as a payment option.Debit Card
Paying for your transfer with a debit card is easy and fast. It’s also usually cheaper than credit card, as credit cards are more expensive to process. Read more about how to pay for your money transfer with a debit card.Credit Card
Paying for your transfer with a credit card is easy and fast. Wise accepts Visa, Mastercard and some Maestro cards. Read more about how to pay for your money transfer with a credit card.Swift
Using Swift to fund your transfer usually means that your transfer will take longer and be more expensive, as your bank will charge a fee. You should also bear in mind that other correspondent banks in between may also deduct their handling fees. Your bank should be able to advise on those fees.Apple Pay
If you’ve enabled Apple Pay on your phone, you can use it to pay for a transfer with Wise. Paying with Apple Pay is a convenient and quick way to send money abroad. If you’re using a credit card, watch out for extra charges. Some banks consider these payments as cash withdrawal, and they may charge you extra fees.Google Pay
If you’ve enabled Google Pay on your phone, you can use it to pay for a transfer with Wise. Paying with Google Pay is a convenient and quick way to send money abroad. If you’re using a credit card, watch out for extra charges. Some banks consider these payments as cash withdrawal, and they may charge you extra fees.
How to send a cheap money transfer in 3 easy steps
Choose your payment method
Funding your money transfer with a bank transfer is usually the cheapest way to send money abroad.
Get the cheapest rate possible.
Wise always gives you the real and fair mid-market exchange rate. If the rate is not good right now, sign up for Rate alerts to receive an email notification when the rate changes.
Send GBP, receive EUR.
The recipient gets money in their currency directly to their bank account.
Things to consider to find a truly cheap way to send money abroad
Fees
Many businesses state low fees or even offer consumers fee-free transfers, but most of the expense of sending money abroad is hidden. The bulk of consumer costs can be concealed in poor exchange rates.
Exchange rates
A quick Google search will show you an exchange rate. But if you compare it to the exchange rate offered by banks and traditional money transfer services, you’ll find their rate is often much worse.
Transfer time
Traditional banks and international money remittances often take several working days. Wise is often much faster: a lot of transfers are completed within 1 business day. Many of our transfers are even instant.
Protecting you and your money
Safeguarded with leading banks
We hold your money with established financial institutions, so it's separate from our own accounts and in our normal course of business not accessible to our partners. Read more here.
Extra-secure transactions
We use 2-factor authentication to protect your account and transactions. That means you — and only you — can get to your money.
Data protection
We’re committed to keeping your personal data safe, and we’re transparent in how we collect, process, and store it.
Dedicated anti-fraud team
We work round the clock to keep your account and money protected from even the most sophisticated fraud.
Sending money is cheap with the Wise app
Looking for an app to send money with low fees? Sending money is easy with Wise app.
- Cheaper transfers abroad - free from hidden fees and exchange rate markups.
- Check exchange rates - see on the app how exchange rates have changed over time.
- Repeat your previous transfers - save the details, and make your monthly payments easier.
