The Best Ways to Send USD to Euro: A Guide for Every Amount

Whether you are an expat living in Europe or purchasing international real estate, finding the most efficient way to convert USD to EUR is essential. Exchange rates fluctuate daily—for example, on January 27th, the rate sat at 1 USD = 0.8436 EUR.

However, the raw exchange rate is only half the battle. Fees and reliability play a massive role in how much money actually lands in your European bank account.

The "best" service depends entirely on the amount you are sending and your risk tolerance. Here is a breakdown of when to use Fintech apps like Wise and Revolut, and when to stick with major US brokerages like Fidelity and Schwab.

For Transfers Under $100,000: The Battle of the Apps

If you are transferring less than $100,000, your priority is likely low fees and speed. For this, Wise and Revolut are the clear industry leaders. I maintain accounts with both services and usually compare them before hitting "send," as rates can fluctuate.

The $10,000 Test: Wise vs. Revolut

To illustrate the difference in costs, let’s look at a real-world scenario based on a $10,000 USD transfer requested via wire from a US bank account to a European bank.

• Wise: For a $10,000 transfer, Wise offered a fee of approximately 0.36%. The recipient would receive €8,406.

• Revolut: For the same $10,000 transfer, Revolut charged a fee of roughly 0.97%. The recipient would receive €8,354.

The Verdict: In this specific scenario, Wise offered a significantly better rate, putting an extra €52 in your pocket compared to Revolut.

When to Choose Revolut

While Wise won on the price comparison above, Revolut occasionally has better rates. If you open your Revolut account using a French address, Revolut will provide you with a French IBAN. This is incredibly useful for setting up utility bills and navigating the French bureaucracy, as well as for setting up a more traditional online bank like Fortuneo or Monabanq. You can find my French online bank comparison here.

A Note of Caution on Fintech

While the rates are often unbeatable, I have heard stories of transfers being held up by Wise for weeks —specifically regarding larger sums or "security checks." Because of this, I am cautious not to transfer funds through these apps that I need immediately for time-sensitive transactions. I have also seen times when the rates were less competitive, so be sure to compare rates to make sure you are getting the best deal!

Ready to save on fees? Sign up using my referral links below:

• Sign up for Wise: Click here to join Wise

• Sign up for Revolut: Click here to join Revolut
  

For Transfers Over $100,000: Fidelity and Schwab

When moving sums larger than $100,000—especially for life-changing purchases like buying a house—peace of mind often trumps the lowest possible fee.

If I am purchasing a home in Europe, I need to guarantee the funds arrive on time to the Notary without getting stuck in a "compliance hold" algorithm. For these high-stakes transfers, I prefer Fidelity or Schwab.

The Cost of Peace of Mind

Unlike the flat-fee structure of some apps, Fidelity and Schwab generally charge a percentage of the principal based on the amount being exchanged. While higher than Wise, you are paying for the security of working with US-based finance professionals who can assist you at every step.

Fidelity/Schwab Fee Schedule (Principal Amount):

• <$100K: 1.0%

• 100K–<100K–<250K: 0.75%

• 250K–<250K–<500K: 0.50%

• 500K–<500K–<1M: 0.30%

• $1M+: 0–0.20%

Note: If you have a substantial balance with either brokerage, your advisor may be able to offer a discount on these fees, though this is relatively rare.

The Real Estate Advantage

One major benefit of using these brokerages is the workflow. You can convert your USD to EUR directly inside your Fidelity or Schwab account. Once the currency is converted, you can wire the Euros directly to a French notary for a house purchase or into your own European bank account.

I have used both services for large transfers and have been very happy with the execution and support provided.

Bonus: The Best Travel Companions for withdrawing Euros from a US Bank Account

Beyond wire transfers, both Fidelity and Schwab are excellent banking options for travelers. Both brokerages offer Debit Cards that boast:

1. No Foreign Exchange Fees.

2. Refunds on ATM Fees.

Whether you are withdrawing cash for a coffee in Paris or paying for a train in Rome, these cards are among the best tools for accessing your cash overseas without getting nickel-and-dimed. Be sure to always select to have your transaction in euros. If the ATM proposes to make the conversion for you, they are charging a large fee and thus never select this option.

Conclusion

The "best" way to send money depends on your goal:

• For <$100k: Compare Wise and Revolut for the best rate. Wise often wins on price, but Revolut offers great local banking features.

• For >$100k or Real Estate: Stick to Fidelity or Schwab. The fees are slightly higher, but the security and professional support are worth it for large transactions.

Disclaimer: This article is based on personal experience and rates observed on January 27th. Exchange rates and fee structures are subject to change. Always check current rates before transferring money. I receive a referral credit if you open a Wise or Revolut account with my referral links in the article.