Yes, you can transfer euros from your bank account — but the method and cost depend on where your bank is, where the money is going, and how fast you need it

If your bank account holds euros or can access them, you have several ways to move that money: a standard international wire transfer, a SEPA transfer (if you're in Europe), a money transfer service, or a peer-to-peer app. Each one takes a different amount of time, costs different fees, and works best for different situations. The fastest option isn't always the cheapest, and the cheapest option isn't always available to you.

Before you transfer anything, check three things with your bank: whether your account actually holds euros (some accounts hold only your home currency), what fee they charge for outgoing transfers, and whether they have a minimum or maximum amount per transaction. These details change between banks and sometimes between account types at the same bank.

Key Takeaways

  • International wire transfers work from almost any bank but typically cost €15 to €50 and take one to three business days.
  • SEPA transfers are free or very cheap (€0 to €5) and take one to two business days, but only work if both accounts are in the SEPA zone (EU, Iceland, Norway, Switzerland, and a few others).
  • Money transfer services like Wise, OFX, or Remitly often charge less than banks for large amounts and show you the exact rate before you commit.
  • Your bank must have the recipient's IBAN (International Bank Account Number) and BIC code to process any transfer — ask the recipient for both before you start.
  • Weekend and holiday transfers may not process until the next business day, even if you send the money on Friday.

International wire transfers through your bank

A wire transfer is the most straightforward method if your bank offers it. You go to your bank (online, by phone, or in person), provide the recipient's name, IBAN, BIC code, and the amount, and your bank sends the money directly to the other bank. The receiving bank then deposits it into the recipient's account.

Wire transfers typically take one to three business days, depending on the banks involved and the time of day you send it. If you send it after your bank's cutoff time (usually 2 or 3 p.m. in your time zone), it won't process until the next business day. Fees range from €15 to €50 or sometimes higher, and your bank may charge a flat fee plus a percentage of the amount.

Ask your bank upfront whether they charge a fee on top of what the receiving bank might charge. Some banks quote you a "send" fee but the receiving bank also deducts a "receiving" fee from the amount that arrives — so if you send €1,000, the recipient might receive €950 or less. Request a quote that shows the total cost and the exact amount the recipient will get.

SEPA transfers for accounts within Europe

If both your account and the recipient's account are in the SEPA zone, a SEPA transfer is almost always cheaper and sometimes free. SEPA (Single Euro Payments Area) includes all EU countries plus Iceland, Norway, Switzerland, and a few others. The transfer takes one to two business days and costs €0 to €5, depending on your bank.

To send a SEPA transfer, you need the recipient's IBAN and their name. You don't need a BIC code, though providing one can speed things up. Most banks let you set up a SEPA transfer online in the same way you would a domestic transfer. The money moves between banks through a standardised system, which is why the cost is so much lower than an international wire.

Check whether your bank charges for SEPA transfers — some do, some don't. A few banks charge only if the recipient's bank is outside your country, even though it's still within SEPA. The receiving bank almost never charges a fee for incoming SEPA transfers, so what you see is what arrives.

Money transfer services and their exchange rates

Services like Wise, OFX, Remitly, and others specialise in moving money across borders. They often charge less than banks, especially for larger amounts, and they show you the exact exchange rate and total cost before you confirm the transfer. Some also offer better exchange rates than your bank would give you.

To use one of these services, you create an account, link your bank account, and enter the recipient's details. The service pulls the money from your account, converts it at their rate, and sends it to the recipient's bank. Most take one to three business days, though some offer faster options for an extra fee.

The trade-off is that you're trusting a third party with your banking details and the recipient's details. Check the service's security practices and read recent reviews before you send a large amount. Also confirm that the service operates in both your country and the recipient's country — not all of them do.

Peer-to-peer payment apps

Apps like Revolut, Wise, PayPal, and others let you send money to another person's account or to their app wallet. Some are faster than traditional transfers — Revolut can send money within minutes if both people use the app — but fees and exchange rates vary widely. Some apps charge nothing for transfers within their own network but charge fees for transfers to external banks.

These apps work best for smaller amounts or transfers between people who both use the same platform. For larger amounts or transfers to a bank account the recipient doesn't control, a traditional transfer or money transfer service is usually clearer and cheaper. Also check whether the app is regulated in your country — not all of them are, and regulation affects how your money is protected if something goes wrong.

What information you need before you start

No matter which method you choose, you need the recipient's IBAN and ideally their BIC code. An IBAN is a standardised account number that includes the country code, bank code, and account number — it's usually 22 to 34 characters long and starts with two letters (like DE, FR, IT, GB). A BIC code is the recipient's bank's identifier, usually eight or eleven characters.

Ask the recipient to give you both pieces of information directly from their bank statement or their bank's website. If they give you a number that doesn't look right, ask them to double-check — a wrong IBAN will either bounce the transfer back or send it to the wrong account, and getting the money back can take weeks.

You'll also need to know the exact amount you're sending and confirm the exchange rate if you're converting from another currency. Some banks and services let you lock in an exchange rate for a few days, which protects you if the rate moves against you while you're arranging the transfer.

Timing and what happens if something goes wrong

Business days are Monday through Friday, excluding public holidays. If you send a transfer on Friday afternoon, it won't process until Monday. If Monday is a public holiday in either country, it won't process until Tuesday. This matters because the recipient might think the money is lost when it's actually just waiting for the next business day.

If a transfer doesn't arrive within the time your bank quoted, contact your bank or the transfer service immediately. They can trace the transfer using the reference number they gave you. If the money went to the wrong account (usually because of an incorrect IBAN), recovery is harder — you may have to ask the receiving bank to return it, which can take weeks or fail entirely if the recipient won't cooperate.

Some banks and services offer transfer insurance or money-back guarantees if something goes wrong. Ask about this before you send a large amount. Also keep the confirmation email or receipt from your transfer — you'll need it if you have to dispute the transaction later.

Frequently Asked Questions

Can I transfer euros if my bank account is in a different currency?

Yes, but your bank will convert the euros to your account currency at their exchange rate, which is usually worse than the mid-market rate. You'll pay a conversion fee on top of the transfer fee. If you're sending a large amount, a money transfer service often gives you a better rate than your bank.

What's the difference between a BIC code and an IBAN?

An IBAN identifies a specific bank account. A BIC code identifies the bank itself. You need the IBAN to send money to the right account; the BIC code helps the banks route the transfer faster. Most transfers work with just the IBAN, but providing both is safer.

Why did my transfer cost more than the fee my bank quoted?

Your bank may have quoted only their fee, not the receiving bank's fee. Some banks deduct a "receiving fee" from the amount that arrives, so if you send €1,000 and your bank charges €20, the recipient might receive €970 or less. Always ask for a quote that shows what the recipient will actually get.

How long does a SEPA transfer take?

One to two business days, usually. If you send it before your bank's cutoff time on a weekday, it often arrives the next business day. Weekends and public holidays don't count as business days, so a transfer sent on Friday might not arrive until Tuesday.

Can I cancel a transfer after I've sent it?

It depends on how far the transfer has progressed. If you cancel within minutes of sending it, your bank may be able to stop it. Once it's left your bank, cancellation is much harder and may not be possible. Contact your bank immediately if you need to cancel — don't wait.