How to send money from the UK to Europe

Every year millions of financial transactions take place within the European countries. Europe constitutes of over 50 countries and 28 of them are members of the European Union. The most used currency in Europe is the Euro which is used by 19 countries in the European Union as their legal tender. Some of the few countries which have Euro as their official currency are Belgium, Austria, France, Germany and Greece. Another major currency in Europe is Pound Sterling which is the official currency of the UK. Money transfer and currency exchanges between the UK and other European countries are very common. There are many ways in which one can send money from the UK to Europe. In this article, we will explore a few ways in which you can send money. We will also try to see how you can save more while making these payment transfers.

Bank wire transfer

It is the most trusted way of sending payments across borders. Now many banks offer this service online, so you can make a wire request online. Some may still require you to visit the bank and make a request in person. Banks charge a flat fee for any sum while other services charge a percentage of the total sum being transferred. Bank wire could be a good option to save on transfer fee if you are sending a big amount. The percentage on a higher amount can be more than the bank’s flat fee on the wire transfer. It is also considered safer as banking institutions are trustworthy in terms of money. This option may not be good for sending small amounts as you will be paying a higher fee even for sending a smaller payment. The exchange rates offered by banks are also poor, so the recipient gets less than expected money in hand.

Online service providers

Most people handle their finances online and do not want to frequently visit a bank to make a wire request. There are plenty of online services which will make your life easier. You can send money to any country in Europe in just a few minutes. These online services also offer low fees and good exchange rates so you do a lot of saving through them. There are so many online options available which operate in the UK and will send your payments to any country in Europe. I will mention here a few of the leading services who are trusted by customers and have a good reputation in the market.

How to send money from the UK to Europe

Comparison of few popular online services

For a customer, the basic necessity is to find a provider which gives him his desired service at a reasonable rate. The transfer fee is a direct cost which is incurred by a customer while sending money. On the other hand, the margin added to the exchange rate by these service providers is an indirect cost to the customer. I did a small research to send GBP 100, GBP 1000 and GBP 10,000 through different agencies and compared the final amount the recipient would receive. This amount is the result after the fee has been deducted and the exchange rate has been applied.

Country Amount sent TransferWise CurrencyFair Western Union WorldRemit Skrill
100 111.69 109.89 112.70 108.65 112.07 106.53
1,000 1,125.05 1,125.90 1,127.00 1,116.65 1,126.97 1,065.27
10,000 11,258.69 11,286.00 11,270.00 11,196.65 11,269.66 10,652.68

Here I have compared the final amount received from TransferWise, CurrencyFair, Western Union, WorldRemit, and Skrill after the transaction is made. For this example, I have considered a transaction between the UK and France and all transactions are between one bank account to another.

Transfer fee comparison

Western Union is sending money without any fee while CurrencyFair and WorldRemit are the next best options who are charging a flat fee for all amounts. However, WU will take 3 business days to deliver while there are other faster options like TransferWise which will deliver in 1 day.

Exchange rates comparison

Another pressing issue is the exchange rate offered by the providers. A poor exchange rate translates into a cost for the customer. Poor rates can lower the amount received by the recipient significantly. The exchange rate offered by TransferWise was closest to the real exchange rate. CurrencyFair and also offered good exchange rates as compared to others.

Comparison of the amount received

Due to zero transfer fees, WU gave the best results for smaller amounts like GBP 100 and GBP 1000. was also very close to WU and appeared as a good option. CurrencyFair was the best option for sending bigger amount as the fee were the lowest with good exchange rates. The results of TransferWise were also very close to the best results in all amounts and can be considered as it was the fastest option.


Apart from the ones mentioned here, there are many more options available online. You can also compare them with each other on the same criteria as we have done here. While making the final decision it is important to keep your objective in mind. If you are looking for a fast service you may have to pay more. At the same time, the cheapest option will save your money but it may make the recipient wait for the payments for a few more days. In the end, you can always compare a few agencies yourself to see who can give you the best deal.