If you're moving savings, a deposit for rent, or ongoing income from another country, your regular bank is almost never the cheapest option. Here's what actually costs less.
Why your bank isn't the best choice
Traditional banks tend to combine two costs that aren't always obvious: a flat transfer fee, and a marked-up exchange rate hidden inside the conversion itself. On a large transfer — a rental deposit, first month's salary conversion, or moving savings — that markup can easily cost you hundreds of euros compared to a specialist service.
What to use instead
Wise
Best for one-off transfers
Uses the real, mid-market exchange rate with a transparent, usually low fee shown upfront before you send. Especially good for larger one-time transfers like a rental deposit or moving savings over.
Affiliate link — replace with your Wise partner link.
Revolut
Best for ongoing use
A multi-currency account that's useful if you're regularly moving money between currencies, not just once — e.g. still getting paid partly in another currency during a transition period.
Affiliate link — replace with your Revolut partner link.
A quick way to check you're not overpaying
Look up the actual mid-market exchange rate for your currency pair (a quick web search for "[currency A] to [currency B] exchange rate" gives you this).
Compare that to the rate your bank or transfer service is offering you — the difference is the hidden cost, even if they advertise "no fee."
Check the total fee plus that hidden markup together, not just the headline fee, before choosing a provider.
Timing tip
If you're transferring a large deposit for renting an apartment, do it a few days before you need it — first transfers with a new provider sometimes trigger extra verification that can take a day or two.
Some links on this page are affiliate links — if you sign up through them, we may earn a small commission at no extra cost to you. Exchange rates and fees change frequently; always check current numbers before transferring.