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How to Send Money to Sweden from the USA in 2022

In this article, you’ll learn about six money transfer platforms that you can use to send money to Sweden from the USA.

If you want to invest as an expat or high-net-worth individual, which is what i specialize in, you can email me (advice@adamfayed.com) or use WhatsApp (+44-7393-450-837).

Introduction

Sweden, geographically located in Northern Europe, is home to around 10 million people. It is the fifth largest country in Europe, and 69% of its land area is occupied by forests.

In 2020, its economy claimed the 22nd spot on a list of countries evaluated against their gross domestic product (GDP). Sweden was also the biggest exporter of vehicle chassis, iron powder, and polymer ion-exchangers in the world during the same period. Then, a year later, in October 2021, its top exports were cars, refined petroleum, packaged medicaments, sawn wood, and telephones. Most of the products they produced made their way to Norway, Germany, Denmark, the United States, and Finland.       

Even if the country is roughly around 7,000 kilometers away from the USA, there are many platforms that you can utilize to send money from Sweden to the USA. 

A List of 6 Money Transfer Platforms

1. Wise

Wise, formerly known as TransferWise, offers one of the best deals for sending money to Sweden from the USA. There are different payment methods to fund your transfer, which depend on the amount to be sent. In general, you can pay through bank debit (Automated Clearing House/ ACH), wire transfer, debit card, and credit card. 

There are variable and fixed fees charged to be able to send money to Sweden from the USA. The variable fees depend on the amount and payment method used. On the other hand, the fixed fee just depends on the payment method. 

Generally, you will have to pay 4.77 USD in addition to a certain percentage of the amount converted. The percentages range between 0.26% and 0.43%. You will be charged the least for amounts greater than 1,304,400 USD. At the same time, lower fees are charged when you send more than 100,000 GBP, or its equivalent in USD, in a period of one month.

Let’s take a look at an example of sending 100 USD to Sweden. 

Payment MethodTotal Fee (USD)Amount Converted (USD)Amount Received (SEK)
Wise Account Transfer0.8199.19947.46
Bank Debit1.2198.79943.71
Debit Card2.2697.74932.97
Credit Card4.9395.07907.49
Wire Transfer5.1894.82905.71

Given the table above, lower fees are applied when transferring to another Wise account. Conversely, the highest fees are charged when a wire transfer is used. However, this is not always true. There are instances when paying through wire transfer is cheaper than other payment methods. Because of this, it would be best to check the least costly method prior to initiating a transfer.

The minimum amount that you can send is 1 USD, while the maximum amount is 1 million USD. Currencies are exchanged using the mid-market exchange rate. Furthermore, the exchange rate at the time of setting up the transfer will be guaranteed for 8 hours. This is applicable as long as the rate doesn’t change by 5% or more within the duration.  

send money to Sweden from the USA through Wise
Money transfers through Wise can only be done online.

Recipients will get the money within the same day or up to 5 days. It will be credited to their bank account or Wise wallet.

Wise is regulated by relevant institutions in the USA. At the same time, they are registered with the Financial Crimes Enforcement Network (FinCEN). This means that your money is well-secured on this platform.

Pros of Wise

  • Cheap money transfer services
  • It offers the mid-market rate 
  • User friendly mobile application
  • Many payment options are available
  • Guaranteed exchange rate for 8 hours
  • The more money you send, the fewer fees are paid

Cons of Wise

  • There are no cash pickup services for recipients 
  • No live chat option for customer support

2. Xe Money Transfer

Xe Money Transfer allows users in the USA to send money to more than 130 countries, including Sweden. 

Funding the money transfer can be done through bank or wire transfer, bank debit (ACH), debit card, and credit card. 

See how much fees are charged when you send 100 USD to Sweden on the table below.

Payment MethodFees (USD)
Included in the Exchange Rate
Fees (USD) by
Xe Money Transfer
Amount Received (SEK)Processing Time
Direct Debit0.003.00933.44More than 3 days
Bank Transfer0.003.00933.44Within 24 hours
Debit Card2.003.00914.77Within 24 hours
Credit Card3.003.00905.43Within 24 hours

Based on the table above, the recipient will get the most amount of money when a direct debit or bank transfer is used to fund the transaction. On the other hand, the fees included in the exchange rate are the highest when using a credit card. Because of this, the recipient will get around 28 USD less than if a direct debit or bank transfer were used.

However, if delivery time were prioritized, direct debit would be last on the list. In this scenario, using other payment methods will allow the recipient to get the money within a day. As such, if speed and fees were to be taken into consideration, bank transfer tops all the other payment methods.

Furthermore, when you send at least 500 USD, Xe Money Transfer will not charge a “send fee.” 

500 usd
Sending more than 500 USD comes at no cost when Xe Money Transfer is used. This makes it suitable for transferring large amounts of money.

The minimum amount that can be sent is 1.00 USD. For transfers over 535,000.00 USD, you can contact Xe Money Transfer in this regard. They have different options, such as creating forward orders, market orders, and regular payments. This can help cushion potential losses from fluctuating exchange rates and automate transfers for convenience. 

Recipients can get the money either through their bank accounts or through cash pickup. However, the sender has to download the Xe app first if cash pickup is to be used by the recipient. The feature is only available on that platform. 

Xe Money Transfer  is authorized to conduct business as a money transmitter in all relevant jurisdictions in the USA. 

Pros of Xe Money Transfer

  • Different payment methods and services are available
  • Money can be received within 24 hours
  • No fees are charged for transfers of more than 500 USD
  • A cash pickup option is available for recipients 
  • User-friendly interface

Cons of Xe Money Transfer

  • Markup on the mid-market rate, which ranges between 0.5% and 2%
  • Cash pickup might not be easily accessible because it was just recently rolled out
  • No live chat customer support

3. MoneyGram

MoneyGram is headquartered in Dallas, Texas and serves more than 180 countries worldwide.   

There are different payment options to fund the money transfer. Specifically, you can choose to pay by credit card, debit card, or online bank account. Not only that, you can also go to any of the MoneyGram agent locations found in the country to pay in cash. This is one of the features that is not always available in other money transfer services.  

On the other hand, the recipient can get the money through their bank account or cash pickup. It will arrive within a week or two after initiating the transfer. 

Found below is a comparison of the different payment methods when the recipient gets the money through their bank account. This is based on sending 100 USD. 

Payment MethodTransfer Fee (USD)Total Cost (USD)Amount Received (SEK)
Credit Card6.49106.49915.89
Debit Card1.99101.99915.89
Online Bank Account0.00100.00939.50
Cash at Location1.99 (may vary)101.99915.89

Transfer fees are often higher when the recipient gets the money in cash. 

Payment MethodTransfer Fee (USD)Total Cost (USD)Amount Received (SEK)
Credit Card8.49108.49916.84
Online Bank Account4.99104.99915.89
Debit Card4.99104.99916.84
Cash at Location4.99 (may vary)104.99916.84

Based on the two tables above, paying by credit card, regardless of the method of receipt, will cost the most. For those who want to save on transfer fees, paying through an online bank account is the most suitable option. In general, the exchange rate used is higher when the recipient gets cash at a MoneyGram agent location. At the same time, the money will be readily available for cash pickup in a few minutes. This will be advantageous for those who need cash quickly. 

There is no minimum amount required to initiate a fund transfer, while the maximum amount is dependent on the payment option and receiving method. Generally, you can transfer up to 10,000 USD per online transaction. Should you need to transfer higher amounts, you can head to a MoneyGram agent location. 

Pros of MoneyGram

  • Customers can send and receive money in cash
  • Cash can be received within a few minutes 
  • Suitable for individuals without a bank account 
  • They have a live chat option for customer service

Cons of MoneyGram

  • High transfer fees 
  • You can’t initiate a money transfer by calling their customer service

4. Small World Money Transfer

Small World Money Transfer has 250,000 pick-up locations and direct-to-bank services available in 90 countries. It is widely used, serving more than 15 million customers around the world.  

Sending money through Small World can be done online, either through their website or on their mobile app. This transaction can be funded by paying with a debit or credit card. But customers also have the option of sending money from any of their branches located across the USA.  

swedish money
Customers can send and receive cash when using Small World.

There are three options for their transfer service, namely, bank deposit, anywhere pickup, and cash pickup. With the anywhere pickup option, the recipient can choose to visit any of Small World’s 39 local partners found throughout Sweden to get the money in cash. On the other hand, receiving money through cash pickup means that the recipient must go to the specified branch by the sender.

Take a look at what sending 100 USD to Sweden through Small World would be like below.

Transfer ServiceFee (USD)Amount Paid by Sender (USD)Amount Received (SEK)
Bank Deposit3.99103.99930.03
Anywhere Pickup3.99103.99930.03
Cash Pickup3.99103.99930.03

As seen in the table above, the transfer fee is constant regardless of how the recipient gets the money. However, the transfer fee increases just as the amount sent does. For example, sending 10,000 USD to Sweden will be charged 130 USD.

Only a maximum of 2,499.99 USD per transaction can be transferred when paying with a debit card. 

Pros of Small World

  • Live chat option for customer service
  • Can receive money in cash
  • Can send money from a branch  
  • You won’t be charged transfer fees for your first transaction
  • Fees are fixed regardless of the receiving method

Cons of Small World

  • More will be charged for transfers of higher amounts
  • Small maximum amount per transaction

5. Xoom 

Xoom is a PayPal service that offers electronic funds transfer and remittance services. 

To fund your money transfer, you can make use of your PayPal balance, bank account, debit card, or credit card. Transaction fees depend on the payment and receiving method. However, Xoom does not just earn from the fees it charges. Rather, it also makes money when the sent currency is changed into a different currency.

The recipient can get the money in their bank account or pick it up in cash. Xoom is partnered with Ria Money Transfer, giving recipients access to 123 pickup locations across different states in Sweden. 

Details on transferring 100 USD from the USA to Sweden can be found in the table below.

Transfer ServiceFee (USD)Amount Received (SEK)
Bank Deposit4.99916.23
Cash Pickup4.99916.23

Based on the aforementioned details, the fee is fixed at 4.99 USD regardless of the payment method used. However, there is a concurrent increase in transfer fees when sending higher amounts of money. For example, sending 10,000.00 USD will be charged 301.49 USD when paid with your debit or credit card. 

xoom 1
Additional information and documents are needed to upgrade your account in Xoom. Doing so will increase the amount of money that you can send.

A minimum of 93 SEK (10 USD) is required to use this platform. 

The maximum amount that you can send through Xoom from the US depends on the level of your account. In general, you can send a maximum amount of between 2,999 USD and 50,000 USD per day for a bank deposit. The maximum amount that you can send when the recipient gets the money in cash is lower. It ranges between 2,999 USD and 10,000 USD per day.  

Recipients in Sweden can receive the money within minutes of initiating a transfer.  

Pros of Xoom

  • Security of transactions
  • You can use your PayPal balance to fund a transfer
  • Recipients can get the money in cash
  • Recipients do not need a Xoom account to get the money 

Cons of Xoom

  • High transfer fees
  • You cannot send more than 10,000 USD or 50,000 USD per day
  • Exchange rates are not as competitive 

6. Western Union

Western Union has been in the business of providing financial services ever since it was founded in the year 1851. Since then, it has expanded its global network and now has more than 500,000 agent locations worldwide.

You can pay online or in-store to be able to send money to Sweden from the USA. When paying online, you can make use of your credit card, debit card, or bank account.

If you prefer to visit an agent location instead, you will not have to worry about fluctuating foreign exchange rates. Western Union has a feature wherein you can lock in an exchange rate and fee by setting up a transfer online. Then, you just have to head to an agent location within 12 hours to avail of the rates. This also comes with the advantage of not having to fill out paper forms anymore when you arrive. You will only need to bring a photo ID and the cash to be sent.

The recipient can get the money through their bank account or at any of the agent locations in Sweden

Let’s take a look at the fees and processing times when you send 100 USD to Sweden using Western Union.

Payment MethodTransfer Fee (USD)Amount to be Paid by Sender (USD)Amount to be Received (SEK)
Credit Card7.49107.49 942.96
Debit Card2.99102.99942.96
Bank Account0.99100.99 942.96
In-store8.00108.00830.42
Details on when the recipient gets the money through a bank account

Payment MethodTransfer Fee (USD)Amount to be Paid by Sender (USD)Amount to be Received (SEK)
Credit Card8.49108.49854.24
Debit Card3.99103.99854.24
Bank Account3.99103.99854.24
In-store8.00108.00830.42
Details on when the recipient gets the money through cash pickup

Based on the tables above, you will be charged the most when paying with a credit card or in-store. Paying through a bank account, regardless of how the recipient gets the money, is the cheapest option there is. However, that method also takes the longest time for the transaction to be completed. Specifically, the recipient will have access to the money within 0–6 business days. If the recipient needs to have access to cash within a short period, then cash pickup is the most appropriate option. It usually just takes a few minutes for the transfer to be completed.

The minimum amount that you can send is 1 USD, while the maximum amount is 50,000.00 USD.  

Pros of Western Union

  • You can send and receive cash in-store
  • You can lock in an exchange rate online prior to in-store transactions
  • Low minimum amount required
  • Easily accessible since there are many agent locations

Cons of Western Union

  • High transfer fees
  • Exchange rates are least competitive for in-store transactions

Summary of How to Send Money to Sweden from the USA

Listed below are how the different money transfer platforms fare against certain criteria.

  • Money transfer platforms with cash pickup: MoneyGram, Small World Money Transfer, Xoom, Western Union
  • Money transfer platforms with cash payment method: MoneyGram, Small World Money Transfer, Western Union
  • Lowest transfer fees: Wise, Xe Money Transfer
  • Most competitive foreign exchange rate: Wise
  • Guaranteed foreign exchange rates: Wise, Western Union
  • Receive money in minutes: MoneyGram, Small World Money Transfer, Xoom, Western Union

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Adam is an internationally recognised author on financial matters, with over 735.2 million answer views on Quora.com, a widely sold book on Amazon, and a contributor on Forbes.

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