Cheapest Ways to Send Money from the USA to Europe

In an era characterized by global connectivity, sending money across borders has become necessary for many individuals and businesses. Whether it’s for supporting family, paying for services, or managing properties abroad, transferring funds from the USA to Europe is a common task.

Cheapest Ways to Send Money from the USA to Europe

However, finding the most cost-effective method can be daunting with the myriad of options available.

This article explores the cheapest ways to send money from the USA to Europe, diving into traditional methods, digital innovations, and hidden costs to equip you with the knowledge to make an informed decision.

Cheapest Ways to Send Money from the USA to Europe

Here are the top 5 on the list of cheapest money transfer specialists for USD/EUR transfer:


Wise offers a transparent fee structure and uses the mid-market exchange rate without any markup, making it one of the most cost-effective options for sending money to Europe. Users can see upfront exactly how much the recipient will receive, and the fees associated with the transfer.


PayPal is a household name with a global reach, facilitating easy and quick transfers. However, its fee structure can be complex, combining fixed fees, percentage charges, and exchange rate markups. For sending money to family or friends in Europe, PayPal can be competitive, especially if both parties have PayPal accounts.


Revolut offers a multifunctional app designed for currency exchange, spending, and transfers. It allows users to exchange money at interbank rates with low fees, especially appealing to frequent travelers or those managing finances in multiple currencies.


PayPal owns Xoom, an expert in money transfers. While PayPal is another well-liked method for sending money abroad, Xoom boasts lower costs and better currency rates than its parent business.

In a few European nations, including Austria, France, Germany, Ireland, Italy, Spain, and others, there is also the option for cash pick-up delivery. Another option is to use bank deposits. and use a credit card, debit card, or bank account to make the payment.

Western Union

Western Union has the largest network since it is the oldest and most established money transfer company in the world. There are more than 55,000 agent locations in the United States. It is simple to send cash in person. Alternatively, you may send money using the Western Union app or online.

You may transfer money straight to your recipient’s bank account or give them the option of a cash-pickup delivery at any one of our more than 90,000 agent locations around Europe.

If you choose to send cash or use a debit or credit card, the transfer costs are higher, but the money will be delivered within 24 hours. While there is a lower fee when paying using a bank account, it might take three to four days.


More than 20 European nations accept money transfers from the United States via WorldRemit. You can choose to send cash through agents, directly to bank accounts or mobile wallets, or as a top-up for airtime.

Bank transfers, debit cards, credit cards, Poli, Interac, and iDEAL are the available payment methods. For quick transfers to friends and relatives in Europe, WorldRemit is the best option. Their rates are quite competitive and better than those of banks.

Peer-to-Peer (P2P) Transfer Services

P2P platforms like CurrencyFair and TransferMate offer another layer of cost savings by matching users who want to exchange currencies. This direct matching system can bypass traditional banking fees and offer rates closer to the mid-market rate. While not as instant as other online services, P2P transfers are a competitive option for those prioritizing cost over speed.

Hidden Cost to Watch Out For

When choosing a money transfer service, it’s crucial to consider not only the upfront fees but also the exchange rates. Some services may offer low or no transfer fees but make up the cost in less favorable exchange rates.

Always calculate the total cost of the transfer, including fees and the amount the recipient will receive after the currency conversion.

Conclusion on Cheapest Ways to Send Money from the USA to Europe

The evolution of money transfer services has provided consumers with a range of options to send money from the USA to Europe cheaply and efficiently. Online money transfer services like Wise, PayPal, and Revolut stand out for their low fees and transparent exchange rates, offering a significant cost advantage over traditional banks.

Peer-to-peer platforms and cryptocurrencies present innovative, albeit niche, alternatives for cost-effective transfers.

Ultimately, the cheapest way to send money will depend on the amount, the frequency of transfers, the need for speed, and whether the recipient requires cash or a bank deposit.

By understanding the landscape of international money transfers, users can navigate the options available to them and choose the service that best meets their needs, ensuring their money reaches its European destination without unnecessary costs.

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