Why choosing the right EUR sending method matters
The fee difference between methods for sending euros can be tenfold or more. Sending €1,000 through a bank may cost €15–40 plus a 1–3% conversion spread, while Wise charges €4–8 at the mid-market rate. Over a year of regular transfers, the savings can reach hundreds of euros.
Method comparison
Wise
Wise uses the real mid-market rate (no spread) and a fixed fee: for EUR typically 0.3–0.9% of the amount. Sending €1,000 costs roughly €3–9.
- Best for: individuals and small businesses, transfers within the SEPA zone and to countries with EUR accounts
- Limitation: not directly available to senders from Russia
Revolut
Revolut offers EUR transfers at the real rate up to certain limits (free on the Standard plan up to €1,000/month, above that 0.5%). Transfers within SEPA are instant.
- Best for: Revolut users, transfers to SEPA countries
- Limitation: free-tier limits; availability depends on country of registration
SEPA Credit Transfer (bank)
If both parties are in the SEPA zone, a bank SEPA transfer is free or costs €0–1. This is the cheapest option if the bank does not charge a fee for international transfers.
- Best for: EUR transfers within the EU
- Limitation: SEPA zone only, EUR only
Cryptocurrency (USDT/USDC → EUR)
You send a stablecoin; the recipient converts to EUR via an exchange or P2P. Network fee: $0.1–5 (depends on the blockchain: TRC20 is cheaper, ERC20 more expensive). But add the cost of on/off-ramp to crypto.
- Best for: when banking channels are unavailable
- Limitation: not all recipients accept crypto; tax nuances apply
Classic SWIFT bank transfer
The most expensive option for small amounts: €15–40 fee + correspondent charges + spread. Justified for large corporate transfers (>€10,000) where the fixed fee is insignificant.
Step-by-step selection guide
- Identify the recipient — are they in the SEPA zone? Then SEPA bank transfer or Wise.
- Compare the rate — use Google Finance or Wise's rate checker to verify the real exchange rate.
- Calculate the total cost — fee + spread + recipient-side charges.
- Check limits — Revolut and Wise have limits on free-tier plans.
- Consider speed — SEPA Instant is immediate; bank SWIFT takes up to 5 days.
FAQ
Wise or Revolut — which is cheaper for EUR? For small amounts (up to €500) both are comparable. For larger transfers Wise is usually better since it has no free-tier limits for EUR.
Can I send EUR via Binance P2P? Yes, but it is a more complex route: EUR → USDT on Binance → P2P sale. Total fees can be 1–3%. It is suitable when you have no access to Wise or Revolut.
How long does a SEPA transfer take? Standard SEPA: 1 business day. SEPA Instant: up to 10 seconds (not available at all banks).