Need to send money from the UK to Sweden? You’ll want it to arrive safely, on time, and without any costly surprises.
International transfers can be tricky, with fees, deposit limits, local taxes, and regulations to consider. But with a reliable money transfer provider (and this handy guide), you’ll find it’s easy.
Top Money Transfer Providers to Send Money to Sweden
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Wise is known for being transparent and efficient when it comes to international money transfers.
Using this service to send money to Sweden from the UK, you always get the mid-market exchange rate. The fact Wise does not add any hard-to-calculate markups to the GBP-SEK exchange rate means you are always in control of the costs.
This alone would already make Wise our top pick for personal and business transactions in Sweden.
Wise is also a very fast way to send money from the UK to Sweden. If you need to send money to Sweden quickly, this money transfer provider will get it there in as little as 4 hours.
- Transparent costs
- Always uses the mid-market rate
- Gets your money to Sweden in 4 hours
- You need to wait about 5 minutes to get a quote
- 4 hours is fast…but it’s not an instant payment
Following our recommendation of Wise for its transparency, we suggest checking out RegencyFX if you're looking for fast transfer times.
RegencyFX is a currency exchange broker based in the UK. They specialise in handling large international money transfers and offer competitive rates along with impressive efficiency.
What's great about RegencyFX is their no-fee policy for personal transfers. Instead, they use customised exchange rate markups based on the transfer amount and destination. This allows them to offer better rates compared to traditional banks.
To get a quote, you'll need to provide some details upfront so you'll know the exact cost tailored to your specific transaction needs.
But here's what really makes RegencyFX stand out: their speedy service. Transfers to Sweden, especially in popular currencies like GBP, can be near-instant. This makes them an excellent choice for urgent transfers.
Sending large amounts of money (e.g. over £5,000) to Sweden may take up to 3 business days. However, RegencyFX's focus on significant transactions ensures that even these bigger transfers are handled swiftly and efficiently.
- Fastest GBP to SEK transfers
- No fees on money transfers to Sweden
- Helpful customer support
- You need to wait about 5 minutes to get a quote
- No mobile app
AtlanticMoney brings to the table an exceptionally low-cost approach to international money transfers.
This UK-based app is really straightforward with its fee structure - it's just £3 per transfer, no matter how much you're sending. This is great for people sending large amounts because the cost stays the same.
Unlike a lot of other similar services, AtlanticMoney gives you the real-time interbank exchange rate. That means you get the best rates available, with no extra charges.
Their open and honest approach often means you can transfer money to Sweden more cheaply than with traditional banks or even Wise.
People love how simple and affordable the app is, and they often say nice things about its low rates and easy-to-use interface. But it's worth mentioning that some users have had problems with ID verification and bank transfers. This is reflected in its Trustpilot rating of 3.9/5 calculated on over 140 reviews.
- £3 fee on UK to Sweden money transfers
- Real GBP-SEK mid-market rate
- Modern and minimalistic app
- ID verification can take longer than average
- No Instant money transfers between UK and Sweden
- Not recommended for bank transfers
How to Send Money to Sweden Using a Money Transfer Provider
The process of sending money to Sweden by using an online money transfer service is simple. You only need to follow these three steps to execute a transaction!
Step 1: Compare Providers to Find the One That Best Fits You
Step 2: Sign Up with the Chosen Provider
Step 3: Transfer Money
What Are the Fastest Ways to Send Money to Sweden?
RegencyFX is the best option to send money to Sweden quickly. They specialise in large international transfers and have efficient processing times.
Transfers are usually completed within a few hours for major currencies. This is faster than most traditional banks and other transfer services.
RegencyFX is especially good at handling large transfers quickly. They beat nearly every provider that allows transfers between the United Kingdom and Sweden.
If bank payments are too slow, especially for urgent transactions, consider RegencyFX. It's a quicker alternative. With RegencyFX, you can experience significantly faster transfer times. For major currencies like the Swedish Krona, this is often near instant.
Also, you'll have the added benefit of being able to track your transfer. This feature provides peace of mind. It also keeps you fully informed about the progress of your transaction, ensuring you're always in the loop.
What Is the Cheapest Way to Send Money to Sweden?
If you're seeking the most cost-effective way to send money to Sweden, Atlantic Money is your go-to choice. Their approach is refreshingly straightforward and wallet-friendly.
With just a flat £3 fee for every transfer, no matter the amount, Atlantic Money stands out as a great way to move GPBs from the United Kingdom to Sweden.
This is a game-changer, especially for those of you planning larger transfers. Costs can quickly escalate with other providers.
Unlike banks or services like PayPal and Xoom, which often include varying fees and exchange rate markups, Atlantic Money sticks to providing the real-time interbank rate. This means you're getting the best rate available, without any hidden extras.
If your goal is to maximise savings on international transfers, Atlantic Money's transparent and economical model makes it your best option.
What Are the Best Apps to Send Money to Sweden?
When it comes to sending money to Sweden using mobile devices, Wise and Atlantic Money are the top apps to go for.
Wise is popular for its user-friendly interface that makes international transfers surprisingly easy. On the other hand, Atlantic Money's app is known for being simple and cost-effective.
Both apps offer a smooth and convenient way to handle and keep tabs on transfers from iOS and Android devices.
Transfer Safety
When you're sending money to Sweden, it's super important to make sure your transactions are safe and secure.
To play it safe, always use trusted and secure payment methods, and make sure to double-check all the transaction details before you go ahead.
Picking a money transfer provider that's regulated is a big deal. If you are sending money to Sweden from the UK, look out for providers regulated by the Financial Conduct Authority (FCA). They offer an extra layer of security and make sure everything is above board and following financial laws.
A bank transfer is usually pretty safe. Just be careful when dealing with people you don't know.
Things to Consider When Sending Money to Sweden
When you're planning to send money to Sweden, consider what factors can affect the transaction.
Local regulations and the amount you're sending are both very important. Here's a breakdown of key things to consider:
Local Authorities in Sweden
European Financial institutions must follow the EU Funds Transfer Regulation. They need information for both the sender and receiver, including names, addresses, and bank account numbers.
Providers must keep records for five years and comply with GDPR for data protection. The HMRC in the UK and relevant Swedish authorities monitor these transactions. They do this to prevent money laundering and terrorism financing.
Cash transfers above €/£10,000 need to be declared. Suspicious activities are reported to national crime agencies.
How Much Money You Are Sending Abroad
The amount you're sending can affect transfer fees. You should always check how much different money transfer companies will charge you for the transfer.
The best way to know the exact costs is to simulate a transfer on MoneyTransfers.com. Use the rate comparison tool to get a full breakdown of costs and delivery time for your specific use case.
The Cost of Money Transfer Services
The cost of sending money to Sweden can vary depending on the method you choose. Common options for payment include bank transfers, credit/debit cards, and digital wallets (Apple Pay, Google Pay). Each method has its own cost implications.
Specialised services like Wise offer competitive rates and transparent fee structures.
Hidden fees are where most people waste a lot of money. Once again, our free rate comparison tool is there to help you find what's best for you and save as much as possible.
Payment Type and Reason for the Transfer
The purpose of your transfer can affect fees, tax implications, and reporting requirements.
Business transfers, personal transfers, and gifts to friends and family in Sweden can have different costs.
Tax Regulations in Sweden
Transferring money to Sweden may have tax implications depending on the amount and purpose.
If you have doubts and need to send over £10,000 to Sweden, seek professional advice. This will help you understand any potential tax liabilities.
Tax issues got a little more complicated after Brexit. A specialist may be able to help you navigate all the rules in place in 2024.
What Do You Need to Send Money to Sweden?
To send money, you'll need specific information about the recipient. This includes their name and bank details.
If you want to send more than £10,000, you will need to provide additional documentation. Different providers have different requirements, but expect to be asked:
A justification for the payment
A government-issued photo ID
Proof of address
Detailed information about the source of funds
What Do You Need to Receive Money in Sweden?
To receive money in Sweden, you typically need to have a bank account or access to a payment service. In most cases, you will need to show ID to access the funds. Requirements can vary by transfer amount and provider.
