How to send money abroad cheaply — the best methods in 2026
International transfers via a traditional bank are expensive: fees of €10–25 per transfer plus poor exchange rates are commonplace. Yet cheaper alternatives have existed for years.
Why are bank transfers so expensive?
Traditional banks make money on international transfers in two ways: fixed transfer fees and a hidden markup on the exchange rate (the so-called spread), which can be up to 3–4%.
The cheapest alternatives
Wise (formerly TransferWise)
Wise uses the real mid-market rate and charges only a transparent fee of around 0.4–1.5%, depending on currency and amount. Transferring €1,000 to the UK typically costs under €5.
Revolut
On the free standard plan you can exchange and transfer up to €1,000/month at interbank rates with no markup. A small fee applies above that limit.
PayPal
PayPal is widely used but expensive: exchange rate markups of 3–4% plus extra fees make PayPal worthwhile only for small amounts or trusted recipients.
Quick comparison
| Provider | Fee (€1,000) | Exchange rate | Speed |
|---|---|---|---|
| High-street bank | €10–25 | poor rate | 1–3 days |
| Wise | ~€4–6 | mid-market rate | a few hours |
| Revolut | €0 (up to €1,000/month) | interbank rate | instant |
| PayPal | €30–40 (incl. spread) | poor rate | instant |
Our verdict
For regular international transfers, Wise is the best choice — transparent fees, fast and reliable. For occasional smaller transfers, Revolut is hard to beat thanks to its free monthly allowance.