Euro transfers within Europe are usually free, and the real cost hides in the exchange rate. SEPA transfers between euro accounts in Europe are standardised, usually free and often instant. The actual cost of sending money from outside the eurozone is almost never the fee a bank quotes you โ it's a few percent buried in a worse-than-market exchange rate, which on a monthly transfer adds up to hundreds of euros a year.
Table of Contents
The Cost You Can't See
When a bank quotes you "โฌ15 to send money abroad", the โฌ15 is rarely the real cost. The real cost is buried in the exchange rate.
Here's how it works. There's a genuine market rate for converting one currency to another โ the mid-market rate, the one you see on Google. Most banks don't give you that. They give you a rate a few percent worse and keep the difference. On the statement it looks like the whole transfer was nearly free.
What a 3% Markup Actually Costs
| You send | 3% markup | Over a year (monthly) | Over 6 years |
|---|---|---|---|
| โฌ500/month | โฌ15 | โฌ180 | โฌ1,080 |
| โฌ700/month | โฌ21 | โฌ252 | โฌ1,512 |
| โฌ1,000/month | โฌ30 | โฌ360 | โฌ2,160 |
| โฌ13,000 tuition/year | โฌ390 | โฌ390 | โฌ2,340 |
None of that appears as a fee. It's simply money that never arrives.
SEPA โ Often Genuinely Free
Before reaching for a transfer service, check whether you need one at all.
Lithuania is in the eurozone and the SEPA area. A euro transfer from a Lithuanian account to any other SEPA account โ Germany, France, Spain, Ireland, Poland, and dozens more โ is standardised, usually free for private customers, and frequently instant.
"Free" means free inside a monthly plan, though โ not free by default. All three banks bundle unlimited euro transfers into a service plan and charge per payment outside one. SEB's pay-as-you-go SEPA payment is โฌ0.33 online and โฌ5 in a branch, so the plan pays for itself at ten transfers a month.
| Bank | Plan | Monthly | Euro transfers included |
|---|---|---|---|
| Swedbank | Bazinis (Basic) | โฌ1.70 | Unlimited in the app or internet bank โ โฌ1.10/month if your salary is credited |
| Swedbank | Pagrindinฤ mokฤjimo sฤ skaita | โฌ1.00 | The statutory basic account โ cheaper, but capped at 15 transfers a month |
| SEB | DAILY | โฌ2.00 | Unlimited European payments |
| SEB | MINIMUM | โฌ1.00 | Capped at 15 transfers a month |
| Luminor | Standard | โฌ2.00 | Unlimited โ free for under-21s |
| Luminor | Debit | โฌ1.00 | 15 free a month |
Banks' own published Lithuanian price lists. Swedbank's plan pricing is valid from 21 May 2026; Luminor's price list runs to 31 January 2027. SEB also publishes a โฌ0 YOUTH plan for under-25s.
If you're sending euros within Europe, stop reading. Just use your bank. There's no conversion, so there's no markup to avoid. Transfer services exist to solve a currency problem โ no currency change, no problem. The rest of this page is about sending money outside the eurozone, or receiving it from outside.
Two things that changed on 9 October 2025
Both come from the EU Instant Payments Regulation, and both are worth knowing before your next transfer.
Instant euro payments are now an obligation, not a premium feature.
- Every Lithuanian bank must be able to send instant euro transfers
- Arrival in seconds, around the clock
- It cannot cost more than an ordinary transfer โ charge parity is in the regulation
- Receiving has been mandatory since 9 January 2025
Verification of Payee is a warning, not a block. The decision stays yours.
- Free, and applies to euro transfers generally โ not only instant ones
- You get one of four answers: matches, close match, does not match, or cannot be verified
- A mismatch does not stop the payment โ you have to stop it
- Outside the euro area you'll get "cannot be verified", so it protects you on a SEPA payment and not on a wire to India
SWIFT, and Why Money Arrives Short
Send outside the SEPA area and you leave the standardised world. A SWIFT payment can pass through one or more correspondent banks on the way, and each of them can take a cut in transit. That is why a recipient sometimes reports receiving less than you sent, on a transfer where you already paid a fee.
Who absorbs those charges is set by a single field on the payment, and every bank asks you to choose it.
| ๐ฅBENRecipient pays all | ๐คSHAShared โ the default | ๐คOURYou pay all | |
|---|---|---|---|
| Your bank's fee | Deducted from the transfer | You pay it | You pay it |
| Correspondent bank fees | Deducted in transit | Deducted in transit | Billed to you |
| Does the full amount arrive? | โ | โ | โ |
| Cost to you upfront | Lowest | Your bank's fee only | Highest |
| Use it when | Almost never | A shortfall doesn't matter | The recipient must receive an exact sum |
If someone must receive an exact amount, send OUR. A tuition invoice, a deposit, a supplier payment where a shortfall means a chase โ send OUR and accept the higher fee. Under SHA, which is the default nearly everywhere, correspondent charges come out of the money in transit and neither you nor the recipient can predict the total in advance.
OUR costs more than the headline difference suggests: SEB prices it as โฌ24 and other banksโ charges against โฌ13 for SHA โ the correspondent fees are passed on to you rather than capped.
| Bank | Standard SHA | Standard OUR | Urgent SHA | Urgent OUR |
|---|---|---|---|---|
| SEB | โฌ13 | โฌ24 + other banks | โฌ26 | โฌ40 + other banks |
| Luminor | โฌ13 | โฌ22 | โฌ26 | โฌ35 |
| Swedbank | Ask the bank | Ask the bank | โ | โ |
SEB and Luminor's own published Lithuanian price lists, online channel; Luminor's runs to 31 January 2027. Get Swedbank's international transfer fee confirmed in writing before you send โ don't assume it matches the other two.
Provider Comparison
| Method | Exchange rate | Fees | Speed | Best for | |
|---|---|---|---|---|---|
| Wise | Mid-market | Visible, stated upfront | Minutes to 2 days | Non-euro transfers, large amounts | Open |
| Revolut | Mid-market weekdays | Free within plan limits | Often instant | Everyday transfers, travel | Open |
| Paysera | Good | Low, transparent | 1โ2 days | Local Lithuanian alternative | Open |
| SEPA transfer (bank) | N/A โ no conversion | Usually free | Same day or instant | Euros within Europe | โ |
| Bank international wire | 2โ4% markup | โฌ15โ50 stated | 2โ5 days | Rarely the best option | โ |
| Cash transfer shops | Poor | High | Minutes | Recipient has no bank account | โ |
Compare the rate you're actually quoted against the mid-market rate on the day.
The one habit worth building. Before any international transfer, look up the mid-market rate โ Google "EUR to" plus the currency you are sending โ then check what your provider is offering. The gap is your real cost. Do this once and you'll never use a bank wire for a non-euro transfer again.
The Revolut weekend fee
Revolut's mid-market rate is a weekday rate. Convert at the weekend and it charges a percentage on top โ 1% on Standard, 0.5% on Plus, with no fee published for Premium, Metal or Ultra. The window is Friday 17:00 to Sunday 18:00 New York time, which is Revolut's own wording; it maps to roughly Saturday morning through Monday small hours here, and the offset shifts twice a year, so treat the whole weekend as chargeable rather than doing the arithmetic.
Each plan also carries a monthly allowance for exchanging at the interbank rate, and the same percentage applies once you pass it.
| Plan | Monthly price | Free exchange allowance | Fee above it, and at weekends |
|---|---|---|---|
| Standard | Free | โฌ1,000/month | 1% |
| Plus | โฌ3.99, or โฌ40/year | โฌ3,000/month | 0.5% |
| Premium | โฌ9.99, or โฌ100/year | No limit | None published |
| Metal | โฌ17.99, or โฌ175/year | No limit | None published |
| Ultra | โฌ50, or โฌ540/year | No limit | None published |
Revolut's own Lithuanian fee schedules at revolut.com/lt-LT/legal.
The allowance is not just currency. Revolut counts crypto and commodity exchanges against the same monthly allowance as ordinary currency conversion. Revolut's own example: โฌ500 of FX plus โฌ300 of crypto plus โฌ200 of commodities uses up a Standard plan's entire โฌ1,000. If you trade crypto in the app, your "free" currency exchange may already be gone before you send anything.
What Wise and Paysera actually charge
Wise converts at the mid-market rate and charges a visible fee starting from 0.2% for Lithuanian customers, varying by currency. It publishes no static fee table โ the calculator quotes you the exact figure before you commit, which is the point of it.
Paysera gives you 30 free SEPA transfers a month, then โฌ0.30 each, and incoming euro payments are free. Non-euro transfers are priced per currency: โฌ10 to send USD on a standard timeline, โฌ15 for GBP or CHF, 2.70 PLN for zloty. One thing to check before you rely on it: Paysera lists several currencies as temporarily unavailable, including Indian rupees โ so for a transfer to India it is not currently a route at all.
The three providers, card by card
Everything below is taken from the tables and the two paragraphs above it. Where a provider publishes nothing, the card says so rather than filling the gap with an estimate.
Wise
Mid-market rate, fee stated upfront
Key highlights
What you get
- Converts at the mid-market rate
- Fee visible before you commit
Pricing
- Rate
- Mid-market
- Fee from
- 0.2%
- Speed
- Minutes to 2 days
Summary
- Converts at the mid-market rate
- Fee visible before you commit
- No published fee table
- Fee varies by currency
Revolut
Everyday transfers, if you send on a weekday
Key highlights
What you get
- Mid-market rate on weekdays
- Free within the monthly allowance
- Often instant
Pricing
- Rate
- Mid-market on weekdays
- Standard plan
- Free
- Speed
- Often instant
Summary
- Mid-market rate on weekdays
- Free within the monthly allowance
- Often instant
- Weekend rate is not weekday rate
- Crypto trades eat the same allowance
- No weekend fee published above Plus
Paysera
Local Lithuanian option, prices published
Key highlights
What you get
- 30 free SEPA transfers a month
- Incoming euro payments are free
- Non-euro prices published per currency
Pricing
- Free SEPA transfers
- 30 a month
- Incoming euro
- Free
- Speed
- 1โ2 days
Summary
- 30 free SEPA transfers a month
- Incoming euro payments are free
- Non-euro prices published per currency
- Several currencies temporarily unavailable
- India not currently a route
- Slower at 1โ2 days
Why You Can Trust This Guide
Notes by Country
Lithuania's foreign population creates a few specific transfer corridors worth addressing directly.
๐บ๐ฆ Ukraine
The largest corridor out of Lithuania by some distance. Wise and Revolut both generally handle UAH considerably better than a bank wire, though availability and limits change โ check current support before relying on a single provider.
If your recipient doesn't have a functioning bank account, cash transfer services may be the only practical route despite the cost. That's a real constraint, not a failure to shop around.
๐ฎ๐ณ India
A significant and growing corridor, particularly among tech workers and medical students. Wise typically offers rates well ahead of what a Lithuanian bank will quote on INR. Avoid sending INR by bank wire โ the markup on this currency pair is consistently poor.
If you're paying medical tuition and also sending money home, set up one provider properly rather than improvising each time.
๐บ๐ธ United States
USD-to-EUR and back. American banks are notorious for both high wire fees and poor rates โ a single SWIFT transfer can cost $25โ45 plus an unfavourable rate. Wise is markedly better in both directions.
US citizens should also be aware of FATCA reporting obligations on foreign accounts โ see our account opening guide.
๐ฌ๐ง United Kingdom
GBP-to-EUR is a heavily served corridor with good rates available. Post-Brexit the UK is outside SEPA for some purposes, so don't assume a transfer is free simply because it's within Europe. Wise and Revolut both handle this pair well.
๐ช๐บ Eurozone countries
Use an ordinary SEPA transfer from your bank. No conversion, no markup, usually free and often instant. This is the case where a transfer service adds nothing.
๐ Kazakhstan, Uzbekistan and Central Asia
A growing corridor as Central Asian students and workers arrive. Provider support for these currencies varies considerably and changes โ check current availability directly before committing to a method, and be prepared for the recipient side to be the constraint rather than the sending side.
Paying Tuition From Abroad
This deserves its own section because it's the largest single transfer most readers will make, and the amounts make the markup impossible to ignore.
Medicine at LSMU costs โฌ12,800 per year for years IโIII and โฌ13,300 for years IVโVI โ roughly โฌ78,300 across the six-year programme. Sent from outside the eurozone through a bank wire at a typical 3% markup, that's about โฌ2,350 lost to exchange rates alone.
Before You Pay a Large Instalment
Ask the university which payment methods it accepts. Some require transfer from a named account or have specific reference requirements โ check that before optimising for cost. Compare the total received, not the fee: the number that matters is how many euros land in the university's account. Watch transfer limits, because large single transfers can trigger additional verification, so allow time before a payment deadline. And expect source-of-funds questions on large amounts โ that's routine compliance, not suspicion, so have documentation ready.
Dynamic Currency Conversion โ Always Decline
Not a transfer, but the same trick, and it costs Lithuanian residents money constantly.
When you pay by card abroad, or use a foreign ATM, the terminal may offer to charge you in your home currency instead of the local one. It sounds helpful. It isn't. That's Dynamic Currency Conversion, and the operator โ not your bank โ sets the rate.
Read the mark-up off the screen: since April 2020, EU rules have required the conversion charge to be shown as a percentage mark-up over the European Central Bank's reference rate, before you confirm the transaction. That number is the cost of accepting. It appears on ATM screens and card terminals, and it applies to online credit transfers where your bank offers to convert for you.
Always choose the local currency
If an ATM in Lithuania offers to charge your card in dollars, pounds or rupees โ decline, and choose euros. If a terminal abroad offers to charge you in euros โ decline, and choose the local currency. The rule is simple: always let your own card issuer do the conversion, never the merchant or ATM operator.
Independent ATMs in tourist areas push DCC hardest. Using your own bank's ATM network avoids both the DCC prompt and the withdrawal fee.
Receiving Money in Lithuania
Most guides cover only the sending half. If family abroad send you money, or a foreign employer or client pays you, the same costs apply โ you just have less control over them, because the choices are made at the other end.
What to give the sender
Your IBAN
Lithuanian IBANs are 20 characters: LT, two check digits, a five-digit institution code and an eleven-digit account number.
The BIC / SWIFT code
Needed for payments from outside the SEPA area. Your bank publishes it; it is not part of your IBAN.
Your name exactly as the bank holds it
Verification of Payee now checks this on euro transfers, and a mismatch prompts a warning at the sender's end.
Which currency to send
If they hold euros, ask for euros. Letting their bank convert hands the markup to the party with no reason to shop around.
Tell them to send OUR, or expect the amount to arrive short. This is the receiving side of the SWIFT problem above, and it has a direct price attached at Lithuanian banks. Luminor charges you โฌ10 to receive a SHA or BEN payment โ and nothing at all to receive an OUR payment. SEB charges โฌ10.14 to receive foreign currency from anywhere, or euros from outside the EU.
So the sender's choice of charge option decides whether you pay โฌ10 on arrival. It costs them a little more to send OUR. Ask anyway โ especially for a recurring payment, where โฌ10 a month is โฌ120 a year for nothing.
Incoming SEPA euro payments are free at Luminor and covered by the service plan at Swedbank and SEB. The charges above apply to payments arriving from outside the SEPA area, or in a currency other than euro.
The better route for a foreign salary
If an overseas employer or client pays you regularly, the cheapest arrangement is usually not a direct wire to your Lithuanian bank. Have them pay into a multi-currency account in their currency โ Wise and Revolut both give you local receiving details โ then convert yourself, when you choose, at a rate you can see. You move the conversion from a party with no incentive to get you a good rate to one where you control the timing.
Tax, and the two thresholds worth knowing
Receiving money is not the same as earning it, and the rules differ sharply.
Gifts: family money is treated generously.
- Gifts from a spouse, parent, child, grandparent, grandchild or sibling are non-taxable whatever the amount
- From anyone else, up to โฌ2,500 per tax year is non-taxable
- Above โฌ2,500 the excess is taxable income and goes in your annual declaration
- Moving your own money between your own accounts is not income at all
Foreign income is a different thing entirely, and there is no small-amounts exemption.
- A Lithuanian tax resident declares worldwide income
- No de minimis threshold exists โ the obligation is not waived because the sum is small
- A double taxation treaty usually stops you paying twice, but the declaring still has to happen
- See our tax return guide for the mechanics
Your Bank Reports Account Totals to VMI
That is normal, and it is not an investigation. Under article 55 of the Law on Tax Administration, a financial institution reports your account data to VMI once a year where, across all your accounts at that institution:
- total inflows reach โฌ15,000 in the year, or
- the balance on 31 December reaches โฌ5,000
What gets reported is the aggregate, not a list of who paid you. VMI has published a note under the heading that three numbers about a person's accounts do not make them a suspect. Crossing either line triggers nothing by itself โ it is not a tax, and it is not a question you have to answer.
Russia and Belarus
This area is legally serious and changes frequently. EU sanctions substantially restrict transfers involving Russian and many Belarusian banks. Enhanced due diligence is standard, transfers may be blocked or reversed, and mainstream providers largely do not support these corridors.
If this affects you:
- Check the current position against official EU and Bank of Lithuania guidance before attempting anything โ not against a forum post or this page
- Expect enhanced checks on your account generally if you hold Russian or Belarusian citizenship, including source-of-funds questions
- Don't route around restrictions. Informal channels and crypto workarounds carry legal risk that can extend to your residence status
- Take professional advice if significant sums or ongoing obligations are involved
Common Mistakes
Comparing fees instead of totals
A "free" transfer with a 4% markup costs more than a โฌ5 transfer at the mid-market rate. Compare what actually arrives.
Using a bank wire for non-euro transfers
Consistently the most expensive mainstream option, and the cost is largely invisible.
Accepting Dynamic Currency Conversion
3โ7%, taken quietly, every time. Always choose the local currency.
Assuming all European transfers are free
SEPA euro transfers usually are. Sending euros to a non-SEPA country, or sending a non-euro currency, is a different transaction entirely.
Leaving a large transfer to the deadline
Big amounts can trigger verification checks. Start days early on anything tuition-sized.
Setting up nothing and improvising monthly
If you'll be transferring regularly for years, spend twenty minutes once. The compounding saving is significant.
Ignoring the receiving side
The recipient's bank may also charge, or convert at a poor rate. Check both ends.
Frequently Asked Questions
What's the cheapest way to send money from Lithuania?
For euros within SEPA, an ordinary bank transfer โ usually free and often instant. For other currencies, Wise or Revolut will almost always beat a bank wire, because the saving is in the exchange rate rather than the fee.
Are SEPA transfers really free?
For private customers they're typically free or negligible, and both Swedbank's and SEB's standard plans include euro payments. There's no currency conversion, so there's no hidden markup either.
Wise or Revolut?
Wise for larger, less frequent transfers โ tuition, moving savings โ where the rate matters most. Revolut for everyday transfers and travel spending, though it applies a markup on some currencies at weekends. Many people use both.
How much does a bank actually charge?
The stated fee is usually โฌ15โ50, but the exchange rate markup of roughly 2โ4% is typically the larger cost. On โฌ1,000 that's โฌ20โ40 you never see itemised.
Can my family send money to my Revolut account?
Yes. Revolut is licensed in Lithuania and issues Lithuanian IBANs, so it receives transfers like any local account. For non-euro currencies, the sender should use Wise or Revolut at their end too.
What is Dynamic Currency Conversion?
When a card terminal or ATM offers to charge you in your home currency rather than the local one. The operator sets the rate and it's typically 3โ7% worse. Always decline and choose the local currency.
Are there limits on how much I can send?
Providers apply limits that vary by account tier and verification level. Large transfers may require additional identity or source-of-funds documentation โ routine compliance, but allow extra time.
Do I pay tax on money sent from family abroad?
Gifts and family support are treated differently from income, but rules vary by amount and relationship. For anything substantial or regular, check with VMI or an accountant rather than assuming.
Related Guides
Disclosure and disclaimer
Nothing on this page is paid placement, and what a link pays never affects the ordering. Exchange rates, fees and provider availability change constantly โ always compare the actual amount that will arrive before sending. Nothing here is financial or legal advice, and sanctions matters in particular require professional guidance.
Ready to Send Money the Cheap Way?
Wise and Revolut both beat a bank transfer on rate. The difference shows up on every transfer, not just the first.
Nothing on this page is paid placement and no provider pays to appear. Where one runs an affiliate programme we may earn a commission if you sign up through our link; where one does not, we link to them anyway. Ordering reflects published terms and how well each option works for someone arriving from abroad โ never what it pays.