Using TransferWise in Europe — is it worth it?
Thomas K. Running

I just did the same kind of research for a transfer between Germany and Sweden and found that in this case it is always cheaper to use SEPA because Swedish Banks (at least the ones I checked, ICA Banken and (ironically) Danske Bank) don’t take any fees for incoming or outgoing payments, even when they are in EUR. German Banks (DKB, to be specific), in contrast, take a whopping 12.50 EUR for currency conversion, or 1% for transfers larger than 12,500 EUR. So be sure always send your money in EUR.

However, the Swedish Banks seem to take out a higher margin than the Danish ones, twice as much (0.4%), in fact, but I am not sure since I only checked the figures online but did not do the actual transfers. So that means that, if you’re not in a rush, you might be able to get a slightly better rate at CurrencyFair. (I find it a bit complicated to use, though, but I guess you can’t have it all)