Need to send money to Europe? Learn how to use IBANs, BICs, and the SEPA network to transfer euros quickly and cost-effectively with providers like Wise and OFX.
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Whether you’re paying a supplier in Germany, supporting family in Spain, or buying property in France, sending money to Eurozone countries is easier than ever. This guide compares top transfer services and explains how the euro banking system works so your EUR transfers land smoothly.
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• Currency: Euro (EUR)
• Banking Format: IBAN + BIC/SWIFT
• Domestic Network: SEPA (Single Euro Payments Area)
• Popular Providers: Wise, OFX, Revolut, Western Union
• Fees: Range from 0.3% to 2.5%
• Speed: 0–2 business days depending on provider and method
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| Provider | Speed | Typical Fee | Exchange Rate Margin | Notes |
|---|---|---|---|---|
| Wise | 0–1 business days | Low fixed + % | Very low (~0.4%) | Deposits into SEPA accounts using local EUR rails |
| OFX | 1–2 days | No fee | ~0.6%–1.0% | Great for large EUR transfers |
| Revolut | Instant–1 day | Free up to limits, then % fee | Mid-market for premium users | Fast for EUR payments within SEPA |
| Western Union | Minutes–1 day | Higher fees | High margin | Cash pickup available in select countries |
✅ Tip: Wise offers the best all-around value for small-to-medium transfers. For large sums, OFX offers competitive rates and dedicated dealer support.
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• Recipient’s full name
• IBAN (International Bank Account Number)
• BIC/SWIFT code
• Purpose of the transfer (e.g., family support, invoice payment)
• Your government-issued ID
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✅ SEPA (Single Euro Payments Area)
• SEPA enables fast, low-cost EUR transfers between 30+ participating countries.
• Most transfers settle same-day or next-day.
• Available for both personal and business transfers.
🏛️ IBAN & BIC
• IBAN is used to identify the recipient’s account (e.g., DE89370400440532013000).
• BIC/SWIFT code is used to route the transfer correctly to the recipient’s bank (e.g., DEUTDEFFXXX).
💶 Receiving Fees
• SEPA payments are typically free to receive.
• Some banks may charge for non-SEPA or SWIFT EUR wires — check with your recipient.
🧾 Transfer Limits & Reporting
• For large transfers (over €10,000), you may need to provide extra documentation.
• Always specify the reason for transfer to avoid delays or regulatory issues.
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The Eurozone’s SEPA network makes sending EUR to Europe efficient and low-cost. Providers like Wise and OFX simplify the process and offer transparent fees. Just make sure you have the correct IBAN and BIC, and your money should arrive quickly and securely.