Sending Money To Finland

Finland flagWondering how to dodge the bank’s big fees on money transfers? In this Finland Money Transfer Guide, we will show you exactly how to do it and get more out of your currency.

The companies recommended by us have revolutionized the way people send money to/from Finland by providing better currency exchange rates, quicker delivery and best of all – no fees on your money transfers.

The Guide’s Topics:

Best Company To Transfer Money To Finland

Payment Facility



worldfirst-logoMin. Transfer: £ / € 100.
Transfer: Online or by Phone.
Wire Fees: None.
Best Rates for £50,000+
Expected Rates* - £50,000+ :
- GBP: 1.1510 EUR to 1.1550 EUR
- CAD: 0.6827 EUR to 0.6851 EUR
- USD: 0.8943 EUR to 0.8974 EUR
WorldFirst Review
currencies-direct logoMin. Transfer: £ / € 100.
Transfer: Online or by Phone.
Wire Fees: None.

Expected Rates* - All Amounts :
- GBP: 1.1336 EUR to 1.1510 EUR
- CAD: 0.6724 EUR to 0.6827 EUR
- USD: 0.8808 EUR to 0.8943 EUR
CurrenciesDirect Review
transferwise logoMin. Transfer: £ / € 1.
Transfer: Online or using the App.
Wire Fees: Based on amount.
Best Rates for £100-5,000
Expected Rates* - Any Amount:
- GBP: 1.1510 EUR
- CAD: 0.6134 EUR
- USD: 0.8943 EUR
Transferwise Review
Finland BankBig International Transfer Fee + Currency Exchange Fee. Double The Cost Of Commercial FX.

Exchange rate would be approximately *:
- GBP: 1.1336 EUR to 1.1452 EUR
- CAD: 0.6724 EUR to 0.6792 EUR
- USD: 0.8808 EUR to 0.8898 EUR
paypal logo2.9%+ Transfer Fees, and 2.5% more for Currency Exchanges. Quick but expensive.

Exchange rate would be approximately *:
- GBP: 1.1279 EUR or worse
- CAD: 0.6724 EUR or worse
- USD: 0.8808 EUR or worse

* Expected Rates reflect our rate expectations based on our research. We do not guarantee accuracy. For some companies we used a range of rates because they offer wholesale rates for large trades and higher rates for small trades.

Supported Countries & Payment methods

With MoneyCorp you can send money to almost any country in the world starting with a minimum of only €50. And if you decide to send higher amounts of money, you might be eligible for a fee-free transfer. To know more about the savings you can get and other info, be sure to check out their website.

CurrenciesDirect is another company that provides a similar level of quality for its customers. There are two main differences:

  1. The minimum transfer amount is €100.
  2. Zero fees on any transfer made through their online platform.

Best Company to Transfer Money from Finland

Service Provider



MoneyCorp logoMin. Transfer: £ / € 50.
Transfer: Online or by Phone.
Why Them? 2 Year Forward Contracts. Operating since 1979. £11Bn in Annual Turnover
MoneyCorp Review

Supported Regions & Currencies

As with all the countries that are part of the European Union, Finland complies with the EU laws about money transfers and the Anti-money laundering. This means that any company that is licensed to provide services to EU countries, can do so without territorial limitations – like it is the case in the USA where a company will need to get state-by-state licenses.

Currencies: It doesn’t matter if you want to send money to well-known destinations like the United States, Canada, Australia, France, Germany, Switzerland or smaller, more exotic countries like Thailand, Kenya, the Philippines, Hong Kong or Japan. The companies that we recommend are able to transfer money in all of these places.

Today’s Foreign Exchange Rates for EUR

GBP to EUR – Pounds to Euro; 10,000 GBP is 11,567.7000 EUR

EUR to GBP – Euro to Pounds; 10,000 EUR is 8,644.7608 GBP

EUR to CAD – Euro to Canadian Dollars; 10,000 EUR is 14,575.1532 CAD

CAD to EUR – Canadian Dollars to Euro; 10,000 CAD is 6,860.9913 EUR

AUD to EUR – Australian Dollar to Euro; 10,000 AUD is 6,164.8698 EUR

EUR to AUD – Euro to Australian Dollar; 10,000 EUR is 16,220.9428 AUD

EUR to USD – Euro to US Dollars; 10,000 EUR is 11,126.4988 USD

USD to EUR – US Dollars to Euro; 10,000 USD is 8,987.5532 EUR

EUR to CHF – Euro to Swiss Franc; 10,000 EUR is 11,010.6590 CHF

CHF to EUR – Swiss Francs to Euro; 10,000 CHF is 9,082.1085 EUR

NZD to EUR – New Zealand Dollar to Euro; 10,000 NZD is 5,760.1183 EUR

EUR to NZD – Euro to New Zealand Dollar; 10,000 EUR is 17,360.7545 NZD

Why Send Money To A Finland Bank Account

Being part of the Eurozone, Finland adopted the Euro as the national currency in 1999 and withdrew the markka (FIM) at the beginning of 2002.

Business: Finland has a highly developed trading sector and international trade makes up a third of the country’s GDP. The European Union makes 60% of the total trade. Finland’s largest trading partners are Germany, Russia, Sweden, the United Kingdom, the United States, the Netherlands and China.

Thinking Of Relocating To Finland?

Before moving to Finland and start living as an expat there, be sure to take notice of this stats:

Advantages Of Moving To Finland:

  • Free Education for all: People come from all over Europe to Finland because of their quality versus price ratio of education.
  • Low Crime Rate: 900,000 offences per year on average.
  • High Level of English: 65% of people speak English.

Disadvantages Of Moving To Finland:

  • Long Wait for International Schools: International Schools have a long wait for the English speaking programs, which presents a problem for expats who do not want their children to attend Finnish speaking schools.
  • Expensive Country Overall: 1 litre of milk costs 1 EUR and fixing a car costs 500 EUR on average.
  • High Level of Alcoholism: 30% overall consumption of alcohol.

Popular Destinations in Finland

Popular cities for business and real estate transactions in Finland are: Helsinki, Espoo, Tampere, Vantaa, Turku, Oulu, Lahti, Kuopio, Jyvaskyla and Pori.

How Cheap Money Transfers Works

Foreign Exchange companies act as an intermediary between you and the receiving bank, removing the excessive fees and the bureaucracy that keeps the money locked for almost a week. They actually want to deliver the payments as soon as possible because, under the model by which they operate, they make the profit margin on the currency exchanges.

The FX companies buy currency in large quantities and, this way, receive a lower bulk price. When a customer decides to make an international transfer, it actually helps the FX company to re-sell the currency at a higher price, indirectly making them money.

Depending on the amount of money that you’re transferring, most FX companies won’t charge you a fee for the use of their services. In the event that they do, it will be a tiny one, and it definitely won’t be anything like the “secret” fee that you pay to the likes of High Street Banks.

Another benefit is that you can easily enjoy the same service when you send your money to Finland with FX companies. Like PayPal, they allow you to initialise and complete your transactions entirely over the internet, but they take it one step further by reducing the amount of money you have to pay for the process. That’s why using an FX company is the best way to transfer money to Finland.

What you need to send money to Finland

  • Account Holder’s Full Name
  • IBAN
  • Swift Code
  • Your identity card

If you have all the information listed above, you can proceed with the transfer process:

  • You will create a free account with the chosen company.
  • Request a quote for your transfer details.
  • Get the quote back from a company’s staff member.
  • Fund the account with the necessary amount.
  • Wait 1-2 days to get the confirmation from the company that the transfer has been completed.

Our Company Recommendation:

Regulations and taxes when transferring money to and from Finland

Finland has no regulations or currency controls, as a member of the Eurozone’s single currency. Transferring money in and out of Finland is not restricted for non-residents and residents alike. This applies even to countries outside the Eurozone.

The Eurozone’s single payments system for all member states, as well as Iceland Liechtenstein and Norway, has simplified money transfers.

Suomen Pankki

Suomen Pankki (Finland’s central bank) oversees payment systems to ensure the stability of their financial sector.

The European Central Bank (ECB) sets the single monetary policy.

Transfer regulations

Foreign Direct Investments (FDI) in Finland do not require government approval.

Finland implements legal measures to prevent money laundering and funding of terrorism. All credit unions are required to identify clients and report suspicious activity, including any transfers that exceed EUR15,000.

Individual travellers are permitted to carry cash in and out of the country but must declare any amounts over EUR10,000.

Transfers over EUR10,000 must be declared to European Union authorities.

Taxation on foreign income

Finnish residents are taxed on any foreign income. Non-residents are taxed only on income originating in Finland. Double tax treaties are in place to avoid double-taxation.

Biggest banks in Finland

  • Aktia Savings Bank
  • Helsinki OP Bank
  • Nordea Bank
  • Danske Bank
  • S-Bank