How to Send Money to a European Bank Account

Yes, you can transfer money to Europe, but the method and cost depend on the amount, the receiving bank, and how fast you need it to arrive

International transfers to Europe are routine, but they are not the same as moving money between two US accounts. Your bank will route the transfer through a network of correspondent banks, each taking a small fee. The receiving bank may also charge a fee. The transfer usually takes three to five business days, though some routes take longer. You will need the recipient's full name, bank account number, and the bank's SWIFT code or IBAN (a standardized European account identifier).

The cost varies widely. A standard wire transfer through your bank typically costs $15 to $50 on your end, plus whatever the receiving bank charges—often €5 to €15. If you use a money transfer service like Wise, OFX, or Remitly instead of your bank, the fee is usually lower and the exchange rate is better, but the trade-off is that it takes a day or two longer. For amounts under $1,000, a transfer service often costs less than half what your bank charges.

Key Takeaways

Wire transfers through your bank reach Europe in three to five business days and cost $15 to $50 on your end, plus fees charged by the receiving bank.
Money transfer services like Wise or OFX charge lower fees and offer better exchange rates than banks, but take one to two extra days.
You must provide the recipient's IBAN or SWIFT code; a regular account number is not enough for European transfers.
The receiving bank may charge a fee that comes out of the amount the recipient gets, so confirm this before you send.

Wire transfers through your bank

A wire transfer is the most direct route. You go to your bank, provide the recipient's details, and the money moves through the banking system. Your bank will ask for the recipient's full name, account number, and the SWIFT code or IBAN of their bank. Do not guess at these details—a wrong SWIFT code or IBAN can send the money to the wrong bank or cause a delay while the system rejects it.

The cost is straightforward: your bank charges an outgoing wire fee (typically $15 to $50), and the receiving bank in Europe charges an incoming fee (typically €5 to €15). Some banks advertise "free" incoming wires, but this is rare. Ask the recipient what their bank charges before you send, so they know how much will actually land in their account. The money usually arrives in three to five business days, though transfers to some countries or smaller banks can take longer.

Wire transfers are best for larger amounts—$5,000 or more—where the fee is a smaller percentage of what you are sending. For smaller amounts, the fee eats into the transfer more noticeably.

Money transfer services: lower fees and better rates

Services like Wise, OFX, Remitly, and MoneyGram offer an alternative to your bank. They typically charge a flat fee of $2 to $10 plus a small percentage of the amount, and their exchange rates are usually closer to the real market rate than what banks offer. For a $500 transfer, you might pay $5 to $15 total instead of $30 to $60 through your bank.

The trade-off is speed. Most transfer services take one to two business days longer than a wire—so five to seven business days total instead of three to five. If you are not in a rush, this is usually worth the savings. Wise is often the cheapest option for regular transfers and has a good reputation for transparency about fees and exchange rates. OFX and Remitly are also reliable, though fees and rates vary by the amount and destination country.

To use a transfer service, you set up an account online, enter the recipient's bank details, and fund the transfer from your US bank account. The service then sends the money to Europe. You can usually see the exact fee and exchange rate before you confirm, so there are no surprises.

What information you need from the recipient

Before you send anything, get the right details from the person receiving the money. You will need their full name (exactly as it appears on their bank account), their IBAN, and ideally their bank's SWIFT code. The IBAN is a long string of letters and numbers that uniquely identifies a European bank account—it looks something like DE89370400440532013000. The SWIFT code is a shorter code, usually four letters plus two letters plus two numbers, that identifies the bank itself.

If the recipient does not have their IBAN handy, they can get it from their bank's website, their online banking portal, or by calling their bank. Do not accept a regular account number—European transfers require the IBAN. If you send money with incomplete or wrong information, it can be rejected, returned, or delayed by days while the system tries to sort it out.

Exchange rates and hidden costs

When you send US dollars to a European bank account, the money has to be converted to euros (or another European currency). Your bank or transfer service will quote you an exchange rate. Banks typically add a markup to the real market rate—sometimes 2 to 3 percent—so you get fewer euros for your dollar than you would if you converted at the actual market rate. Transfer services like Wise use the real market rate with no markup, which is why they are often cheaper overall even if the fee is higher.

The receiving bank may also charge a fee that comes out of the amount the recipient gets. This is called a receiving fee or incoming wire fee. It is separate from what you pay on your end. Ask the recipient to confirm their bank's policy before you send, so they know exactly how much will land in their account. Some banks charge €5, others charge €15 or more.

What to do if the transfer is delayed or goes wrong

If the money does not arrive within the expected timeframe, contact your bank or transfer service right away. Provide them with the confirmation number or reference code from your transfer. They can trace the payment through the system and tell you where it is. Most delays are resolved within a few days, but if the information was wrong—a bad SWIFT code or IBAN—the money may be returned to you, which can take another week or two.

If the money is returned, it will go back to the account you sent it from, usually within five to ten business days. You will not be charged twice, but you will have lost time. This is why getting the recipient's details right the first time matters. If you are unsure about the IBAN or SWIFT code, have the recipient confirm it with their bank before you send.

Recurring transfers and setting up a standing order

If you send money to the same person regularly, some banks and transfer services let you set up a standing order or recurring transfer. This means the money goes out automatically on a schedule you choose—weekly, monthly, or on a date you set. You only have to enter the recipient's details once, and the system handles the rest. This saves time and reduces the chance of entering the wrong information on each transfer.

Check with your bank or transfer service about whether they offer this feature and what it costs. Some charge a small fee per recurring transfer, others do not. If you are sending money regularly, a standing order can be worth setting up.

Frequently Asked Questions

How long does it actually take for money to reach a European bank account?

Most wire transfers arrive in three to five business days. Money transfer services typically take five to seven business days. The exact timeline depends on the receiving bank and whether the transfer happens on a weekend or holiday. Always assume five business days as a safe estimate.

Can I send money to a European account if I do not know the SWIFT code?

You can ask your bank to look it up, or the recipient can get it from their bank. You need either the SWIFT code or the IBAN—the IBAN alone is usually enough. Do not send without one or the other, as the transfer may be rejected or delayed.

What happens if I send money to the wrong IBAN by mistake?

The money will go to a different account. Once sent, you cannot recall it. Contact your bank when ready with the confirmation number and explain the error. The bank can try to retrieve it, but there is no may provide. This is why confirming the IBAN with the recipient before you send is critical.

Is it cheaper to use a transfer service or my bank?

For amounts under $2,000, a transfer service is usually cheaper. For larger amounts, the difference narrows, but transfer services still often come out ahead because of better exchange rates. Compare the total cost—fee plus the amount lost to exchange rate markup—before you choose.

Can the recipient's bank refuse the transfer?

Rarely, but yes. Some banks reject transfers if the information does not match their records exactly, or if they flag the transfer as suspicious. This is more common with smaller or regional banks. If this happens, the money is returned to you, and you may need to contact the recipient's bank directly to find out why.

This guide is for general information only and is not medical, financial, legal, or other professional advice. For decisions specific to your situation, consult a qualified professional. See our Editorial Policy.