Compare ways to send money from United Kingdom to Slovakia

The exchange rate determines the price you’ll pay for Euro when sending Pound Sterling to Slovakia.

The rate between the Pound Sterling and Euro is currently 1.2093. Wise offers the best exchange from GBP-EUR.

The GBP-EUR exchange rate is always moving.

Sometimes, waiting a day or two can help you get more EUR for the same amount of Pound Sterling. Using a forward contract that also allows you to lock in an agreed exchange rate between the United Kingdom and Slovakia.

Sending money via a Bank transfer is the recommended option for sending money from the United Kingdom to Slovakia.

The company offering the best bank transfer price is Zing.

This Bank transfer to Slovakia is 0% cheaper than the second-best option in the market.

United Kingdom and Slovakia have different regulations and you should ensure any provider you use to send or receive between the countries is regulated.

Our directory of financial regulators worldwide of key regulatory bodies highlights who can aid in keeping your money safe for money transfers between United Kingdom and Slovakia.

Some services between the United Kingdom and Slovakia have minimum or maximum thresholds on how much you can transfer. This is applies when receiving money in Slovakia as well.

Companies will offer different rates and fees for different transfer amounts. For regular transfers to Slovakia, use Wise. The combination of rates and fees when sending from the United Kingdom to Slovakia is the most competitive, even at larger amounts.

Also, always check with the recipient and understand any declarations needed on large amounts of money leaving the United Kingdom, or entering Slovakia. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive Euro in Slovakia. This includes a direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all providers serving transfers from the United Kingdom to Slovakia will offer every method for incoming Euro, so it’s best to check ahead of time.

One of the more common ways to transfer from the United Kingdom into Euro is directly into a bank account. Wise is the best company for bank transfers between United Kingdom and Slovakia.

And if you need cash right away, check if cash pickup is an option for transfers between United Kingdom and Slovakia.

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like Zing.

When signing up to and sending Pound Sterling to Slovakia, through a money transfer company, you will have to verify your ID.

The precise documents you need will vary and in some cases you will need more than one.

For the most part however, in the United Kingdom this will be a government issued ID such as a passport or driver's license. In Slovakia it will be similar, although this should only be needed if you are opening a new account in Slovakia, or collecting in cash. Sending to an existing bank account in Slovakia shouldn’t require any additional ID checks.

Large transactions between United Kingdom and Slovakia, are subject to additional checks. A provider may ask you for proof of address or may want to carry out a proof of funds check.

One of the reasons Wise has scored so highly for transfers to Slovakia is their easy sign up process in the United Kingdom.

When sending large amounts of money between United Kingdom and Slovakia there will potentially be a tax declaration to consider.

Some transfers into Euro may need to be reported to tax authorities in Slovakia, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances will change in Slovakia based on age, income and a few other elements. When in doubt, please contact a tax professional in the United Kingdom or Slovakia to discuss your personal circumstances.