Send money to Sweden
Sending money to Sweden is simple and easy to do which is especially useful if you’ve got money matters to deal with in Sweden. Whether you’ve invested in a business or property in Sweden or have money to send to family or a friend, we can help you iron out a few of the creases. Just spend a moment familiarising yourself with certain terms and conditions that Mozo explains below before making an international money transfer.
But if you want to exchange dollars to krona for your next holiday to Sweden, then you need to read Mozo’s Travel Money section. That way you’ll get to know everything you need when it comes to choosing the right travel cards and cheapest exchange rates.
How do I actually transfer money to Sweden?
In order to transfer money between accounts in different countries, you need your recipient's bank ID numbers and their account details. Need more help understanding the next step? Read on to find out more about your options:
A safe environment for our income, our savings and even our superannuation. But is it the best provider when it comes to transferring money overseas? With the high fees and rates, Mozo thinks you should look around some more.
Pros: Familiar names that you already trust and use.
Cons: Higher transfer fees than other providers or financial providers. Not as convenient as other methods if you can’t visit a branch during business hours.
Foreign Exchange Specialist
Specialist FX or Foreign Exchange Specialists are pretty good at scoring competitive rates when it comes to exchanging currencies around the globe. In fact they’re the experts.
Since they exchange global currency daily above everything else, they’re probably able to secure a pretty good deal when converting Aussie dollars to Sweden krona.
Online IMT and foreign exchange providers like OFX, TorFX and Send offer expert service that’s usually less expensive than other IMT providers. Since you can use their service 24/7, it means they’re more flexible too.
Pros: Quick and safe international money transfer, usually cheaper than the banks
Cons: May have high minimum transfer limits which can range from $200 up to $10,000, so it may not cater to your needs if you're only looking to send a small amount overseas.
Can wiring money to be Sweden risky?
Oh yes. Not just because it’s Sweden. Because it’s the internet! And if your sensitive information is not protected, then it doesn’t matter what you do online, your activity can be exposed and compromised. But there is something you can do:
- Install the latest anti-virus software
- Download the latest updates your PC or mobile
- Create strong passwords and opt for two-factor authentication where possible
- Choose a reputable money transfer provider.
Can I make a one-off transfer to Sweden?
Sure you can. One-off or regular transfers? They’re both possible. Fees and charges rarely vary, but check with your provider first! They may be able to offer you a better deal for multiple transfers, and may even give you benefits like waived transfer fees.
How do I compare IMT providers?
You probably don’t have enough hours in the day to visit every IMT provider’s websites to compare the plethora of fees and rates online. But what you can do is save time, by using Mozo’s international money transfer comparison tool to make your IMT research more easy breezy.
After all, the rate you secure will definitely impact your overall fee when transferring large amounts. Here’s a quick reference we’ve put together below (you can thank us later) that you can look to when selecting who to go with.
What to look out for when choosing an IMT provider:
|Limits||Some IMT providers require you to transfer a minimum amount, and can be as high as $10,000. If you don’t intend on sending that much money over, try looking for a provider that requires a smaller amount. Or better still - no minimums! On the flipside, some banks may also have a low maximum transfer amount, capped at your daily withdrawal limit, so if you're moving a big lump sum overseas, you may instead want to look at providers that would allow you to transfer it all in one go.|
|Rates||Even the smallest gap in the exchange rate you secure when sending money overseas can make a difference to how much Sweden krona you get out of your Aussie dollars.|
|Transfer speed||From instant transfers to a week or more. You’ll hear a mixture of promises. To be on the safe side, factor in that funds may not be cleared until 3-5 business days after you've confirm your transfer. The good news is, some providers do offer live tracking of your funds, so you'll always know where your money is.|
|Transfer fees||The amount you pay in fees may be zero to high and anything in between. This is generally charged per transaction, so it's a cost to avoid particularly if you're looking to make regular transfers overseas.|
|Online vs phone or in person||Doing international money transfers online allows you to save on fees and charges while giving you the freedom to transfer money at the time that suits you, 24/7. But if you prefer face-to-face assistance, then banks will offer in-branch services as well, although this option will typically cost you more.|
How do I set up an international money transfer?
Firstly, you need to decide which direction you will take - online, in person or over the phone? Working this out first, will determine your best next steps.
- Will you be logging on to your online bank account or app?
- Visiting a branch?
- Filling out a form online?
Whichever way you choose to transfer money to Sweden, some crucial bits of information you’ll need for a successful transfer include:
1. Full name and address of the recipient’s bank
2. Recipient's name, address and account name
3. Account number or International Bank Account Number (IBAN)
4. SWIFT/BIC code of your personal account you're transferring funds from
5. Amount you would like to send.
IMT must-know terminology
- BIC - Bank Identification Code
- SWIFT - Society for Worldwide Interbank Financial Telecommunication
- IBAN - International bank account number
- Recipient - The person or party who receives the money being transferred
- IMT - International money transfer
- IMO - International money order.
Ready to compare exchange rates for converting Aussie dollars to Swedish Krona? Scroll down below for a list of offers available today, or head on over to our international money transfer comparison table for even more options.
I want to transfer
Today’s foreign exchange rates
- Excellent exchange rates, no transfer fees
- 24/7 transfers online or over the phone
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- ASIC regulated & trading since 2004
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- Enjoy great rates, fee-free transfers, and lightning-fast payments right around the clock.
- It’s simple, quick, and a lot cheaper than your bank.
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- Zero fees on first transaction until 31st July
- Transact online 24/7 with fast settlement and extremely competitive rates