The best, fastest & cheapest ways to send money to Sweden

The exchange rate plays a key role in determining how much SEK your recipient in SE will get.

For example, in the past 7 days average rate for USD to SEK was 9.5017 SEK.

Since USD-SEK exchange rates fluctuate with market conditions, waiting a couple of days could result in a better rate, giving your recipient more SEK.

If you need to make an urgent transfer, we recommend using Wise, which consistently offers the best rates for Swedish Krona transfers.

The most cost-effective way to fund your transfer to Sweden is through a bank transfer with Key Currency, which is 0.01% cheaper than the second-best service.

The way you fund your transfer to Sweden impacts the cost, speed, and how much SEK the recipient will receive.

Based on our live data for a $7,000 transfer from the US to Sweden, the following are your best options:

• Key Currency with bank transfer deposit costs $0 and has a 0.25% markup.

• Xe with a debit card deposit costs $0 with 1.42% markup.

We advise against using bank transfer, as they tend to be the most expensive option for SEK transfers.

Credit card transfers may incur cash advance fees and higher interest rates on SEK, and are usually more expensive.

Whenever possible, avoid transfers via the SWIFT network to SE. SWIFT transfers to Sweden are slower and come with higher fees.

Instead, look for a cheaper option such as ACH or account balance.

Money transfer companies often have min and max limits on how much SEK you can send.

The amount you transfer can also affect the fees and the SEK exchange rate you receive. For instance, Wise is the best choice for sending large amounts to Sweden.

Additionally, there may be government-imposed restrictions, commercial limitations, and other factors that influence the amount of SEK you can send.

This is why it’s really important to compare your options when transferring money to Sweden.

The speed of sending Swedish Krona to Sweden depends on factors like the amount, timing, deposit, and withdrawal method chosen. Typically, faster transfers come with higher fees.

For example, based on a $7,000 transfer to Sweden:

Use Currencyflow for fastest transfers

Of the 17 companies offering SEK transfers, Currencyflow consistently offers the fastest delivery times across all deposit methods.

For bank account & card deposits use Currencyflow

Currencyflow offers fast and affordable Swedish Krona transfers, with fees of around $0 for bank deposits and $0 for debit card deposits, plus a small 0.26% markup on top of the SEK rate.

For urgent transfers use cash transfer

If you need money urgently, we recommend cash pickup services through providers like Western Union or MoneyGram.

Avoid the SWIFT network

Avoid using SWIFT transfers for SEK transfers. Due to intermediary banks on the way to Sweden, SWIFT is slower and comes with higher fees.

There are a few different ways to move money to Sweden:

Money transfer services

You can transfer money online using an FX broker (managed service) such as OFX or an online-only company (self-managed) such as Wise.

Based on our analysis, Wise stood out as the top money transfer company servicing Sweden.

Mobile apps and e-wallets

Most money transfer services that accept Sweden offer mobile transfer apps, which often have better deals on SEK exchange rates.

You can check our guide on the best money transfer apps to find one that suits your needs.

Cash transfers

Cash transfers to Sweden are sent in person through services like Ria Money Transfers, MoneyGram, or Western Union.

Transferring Swedish Krona as cash is almost always instant but requires the recipient to visit a nearby agent in Sweden to collect the SEK.

Bank wire transfers

You can transfer Swedish Kronas via your bank.

We strongly recommend not using your bank to wire SEK directly to Sweden due to high fees and slow transfer times.

Instead, use the bank transfer deposit option with Wise and send SEK from there.

There are multiple ways to receive money in Sweden. Picking the right one can save you on fees and speed up the SEK transfer process. Here are your options:

Deposit to the bank account

To deposit money directly into a recipient’s bank account in Sweden, we recommend Key Currency.

The card transfer will also land in the recipient’s bank account in Sweden. Use Xe to deposit with a debit card at just $0 per transfer.

Cash pickup and delivery

If the recipient in Sweden needs SEK urgently or doesn’t have access to a bank account in Sweden, cash pickup or home delivery are good options.

Mobile and digital wallets

You can receive SEK directly into digital wallets like PayPal, though this often comes with more limitations and costs more compared to services like Key Currency.

When sending money to a bank account or e-wallet in Sweden, Swedish Krona will arrive without any involvement from the recipient.

However, if you're sending SEK as cash or transferring large amounts to Sweden, the recipient may need the following:

• Government-issued ID: A national ID of Sweden, a valid passport, or driver's license.

• Sender’s details: The sender's personal details such as full name and address.

• Transfer Details: The amount of SEK being received.

• Confirmation No.: This is usually given at the time of transfer.

• SWIFT Code / IBAN: Occasionally required for bank transfers.

The exact documents required may vary depending on the money transfer company and the transfer method used.

When sending bigger amounts to Sweden, companies may request proof of funds such as bank statements and address verification with the utility bill in line with AML (Anti-Money Laundering) policies.

We recommend using Wise to send large amounts of Swedish Krona.

There may be tax obligations and government-imposed limits or restrictions on SEK transfers/payments to SE.

Some SEK transfers could be subject to taxes such as gift tax or commercial tax.

Even if no limits or taxes apply, certain SEK transfers (especially large sums of Swedish Krona) may need to be reported to the tax authorities in Sweden or in your country.

When unsure, it’s best to consult with a tax professional in Sweden or your home country to ensure compliance with the regulations.