Send money from United Kingdom to Europe(GBP → EUR)

Wise and CurrencyFair consistently offer exchange rates very close to the mid-market rate for GBP to EUR, making them the cheapest options available. Wise charges a transparent percentage fee of typically 0.35%–0.45% with zero exchange rate markup — on a £1,000 transfer, that's roughly £3.50–£4.50 total cost. CurrencyFair uses a marketplace model where you can set your own desired rate and wait for a match, sometimes achieving rates even better than the mid-market rate. Revolut also offers interbank rates for GBP to EUR during weekday market hours, with a free tier allowing up to £1,000 per month. OFX and XE charge no transfer fees and are strong options for larger amounts (£5,000+). All of these specialist options are dramatically cheaper than UK high-street banks, which charge £15–£30 per transfer plus a 2%–4% exchange rate markup.

The UK is no longer a member of the SEPA (Single Euro Payments Area) scheme following Brexit, which means UK banks cannot send SEPA payments directly. However, many specialist money transfer providers — including Wise, OFX, and XE — route your EUR payments through SEPA on your behalf using their European banking infrastructure. This means your recipient in Europe still receives the payment via SEPA, which is faster (typically same-day to 1 business day) and cheaper than SWIFT transfers. The key advantage is that SEPA payments do not incur intermediary bank fees, whereas SWIFT transfers may pass through correspondent banks that each deduct a small fee. When choosing a provider for GBP to EUR transfers, confirm that they deliver via SEPA rather than SWIFT — this single factor can save £10–£20 per transfer and reduce delivery time from 3–5 days to under 24 hours.

UK high-street banks charge significantly more than specialist providers for international transfers to Europe. Most major banks — HSBC, Barclays, Lloyds, NatWest, and Santander — charge a transfer fee of £15–£30 per transaction plus an exchange rate markup of 2%–4% above the mid-market rate. On a £1,000 transfer, the fee plus markup can total £35–£65 in costs. Some banks also charge the recipient's bank a SWIFT intermediary fee of £10–£20, further reducing the amount received. By comparison, specialist providers like Wise charge approximately £3.50–£4.50 total for the same transfer with zero exchange rate markup. That's a potential saving of £30–£60 per transfer. For regular senders — such as UK residents paying European mortgages, expat bills, or family support — switching from a bank to a specialist provider can save £400–£700 per year on monthly transfers.