The Best Way to Send Money to Greece

Effortlessly send money to Greece with secure online transfers. Discover a reliable way to transfer funds, ensuring a swift and efficient transaction process.

January 7, 2024

How To Send Money to Greece
Shashank Kothari
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Sending money to Greece is a common practice driven by reasons that resonate with a lot of people. Whether supporting family members, covering living expenses, or making investments, the reason people send money to Greece is deeply rooted in personal and financial responsibilities.

From recent data published by the Bank of Greece, a lot of remittances have been coming into the country. In October 2023 alone, it surged to €148.12 million, reflecting a notable increase from €127.03 million in September. The average remittances from 2002 to 2023 stand at €136.42 million, with a peak of €822.55 million in January 2023 and a low of €50.10 million in February 2016. These figures show the substantial impact of international transfers on the Greek economy. You can send money to Greece in many ways, so read on to find the most popular and secure ways to send money to Greece.

Why It May Be Challenging to Send Money to Greece

It may be somewhat challenging to send money to Greece, and this is influenced by various factors. Here are some of the reasons:

  • Currency regulations. Greece is part of the Eurozone, and strict currency regulations may affect the movement of funds in and out of the country.
  • Banking system instability. Greece has experienced economic challenges, leading to instability in its banking system. This can impact the efficiency and reliability of money transfers. Some of the banking system fluctuations in Greece are:
  • Capital adequacy ratio. Greek banks have struggled to maintain adequate capital adequacy ratios, a measure of a bank's financial strength. The percentages have fallen below the averages for other EU banks, making them vulnerable to economic shocks.
  • Non-performing loans. Greek banks have a high level of non-performing loans (NPLs), which are loans that are in default or close to being in default. The NPL ratio in Greece is significantly above the corresponding European average, and banks need to step up their efforts to achieve further convergence.
  • Legacy debts. Greek banks are burdened with legacy debts from previous crises. This makes them particularly vulnerable in the current macroeconomic environment.
  • Financial crisis legacy. The aftermath of the financial crisis in Greece has left a legacy of economic challenges. Financial institutions implement stricter measures as a result.
  • Foreign exchange risks. Fluctuations in exchange rates also affect the value of transferred funds. You must consider these risks when sending money internationally.
  • Transaction fees. Banks and money transfer services charge higher fees for international transactions, impacting the overall cost of sending money to Greece.
  • Documentation requirements. Due to regulatory compliance, extensive documentation is required for traditional international money transfers, adding complexity to the process.
  • Limited banking options. Some banks or financial institutions have limited partnerships or services for international transactions, reducing available options for sending money.
  • Geopolitical factors. Geopolitical events or uncertainties in the region, like the Greek-Turkish dispute and the Greek government debt crisis, influence the ease of international transactions, impacting the speed and reliability of money transfers.

Available Money Transfer Methods to Greece

Below are some of the available ways to send money to Greece and the pros and cons of each.

1. Bank Transfers

Bank transfers are among the most common ways to send money to Greece. Typically, banks charge fees for international transfers, and these can range from $20 to $50 or more per transaction, depending on the bank. Also, some banks may deduct a percentage, often around 1% to 3% of the total amount as a currency conversion fee or to cover their service charges. It's essential to check with your specific bank to get accurate details on charges and percentage deductions. 


  • Banks ensure a secure transfer.
  • Funds go straight to the recipient's bank account.


  • Fees and percentage deductions can add up.
  • The money may take a few days to reach Greece.

Steps to Use

  1. Log in to your online banking.
  2. Select "transfer" or a similar option.
  3. Specify it's an international transfer and select Greece.
  4. Input recipient details and the amount.
  5. Confirm the transaction.

If the above steps do not work, your bank does not offer it through the app, or you want to do it the traditional way, you can walk into your bank premises and follow the steps that will be directed.

2. International Wire Transfers

Definition of international wire transfer.
What international wire transfer is. Source: The Balance Money

International wire transfers allow you to send money from your bank to a foreign account. This method involves moving funds electronically across borders. The time for international wire transfers varies but can range from 1 to 5 business days, depending on the banks involved. International wire transfer fees vary depending on the bank you use and the country you are sending the funds from. Banks charge a flat fee, like $20 to $50, or a percentage, typically around 1-3% of the transferred amount. It all depends on your bank.


  • Most banks offer international wire transfer services.
  • It's a secure method for sending money globally.


  • Costs are higher compared to other methods.
  • Most banks offer less favorable rates.

Steps to Use

  1. Visit your bank or use online banking.
  2. Provide recipient details and specify it's an international transfer. Select Greece as the country you are sending the money to.
  3. Input the amount and verify all details.
  4. Confirm and monitor the transfer status.

3. Online Money Transfer Services

Online money transfer services help facilitate the electronic transfer of money across borders. These platforms operate through secure websites and allow users to initiate transactions from the comfort of their homes. The process typically involves creating an account, inputting recipient details, specifying the amount, and selecting the payout method. You can fund transfers through bank accounts, credit/debit cards, or other accepted payment methods.


  • Using a computer or mobile device, you can initiate transfers anytime, anywhere.
  • Transactions are often faster than traditional methods, with some offering instant transfers.
  • Many online platforms provide favorable exchange rates, potentially saving you money on currency conversion.
  • These services are accessible to a global audience. You can send money from any country to Greece.
  • You can track the status of your transactions in real-time. This provides transparency throughout the process.
  • Recipients have many options for receiving funds, including bank deposits, cash pickups, or mobile wallet transfers.


  • Exchange rates can fluctuate, affecting the final amount the recipient receives.
  •  You, as the sender and even the recipient, must comply with the regulatory requirements of both the sending and receiving countries.
  • Technical issues or service outages can occur, temporarily disrupting the ability to initiate transfers.

Some Online Money Transfer Services to Send Money to Greece

Here are some online money transfer services to send money to Greece:

1. Wise
Wise homepage.‍
Wise homepage. Source: Wise

Wise offers competitive exchange rates without hidden transfer fees; the exact cost depends on the amount and payment method you use. For instance, if you send $1,000, they will charge you $1.30 for a connected bank account (ACH) fee, $5.52 as their own charge, which will be a total of $6.82. So, that means your recipient will get $993.18. 

Wise can send your money within one day as a same-day or even an instant transfer. The service supports transfers in 70+ currencies. The minimum and maximum amounts for sending money to Greece are $1 and $1,000,000, respectively. Wise converts your money at the “inter-bank” rate - the real rate - so you save big time (even on sneaky bank surcharges or hidden charges).

2. OFX
OFX homepage.‍
OFX homepage. Source: OFX

OFX allows you to send money to over 170 countries, including Greece. The service offers bank-beating rates, with the ability to transfer in 50+ currencies. OFX offers competitive rates for high-value transfers and corporate customers. You get to find out the rate during the transfer process. The service provides 24/7 customer support and is known for its easy-to-use platform, allowing customers to check rates, make payments, or track wire transfers online. To get started, you can register in less than 5 minutes, and there are no maximum limits on the amount that can be sent. The minimum amount for a transfer is $1,000.

3. MoneyGram
MoneyGram homepage.‍
MoneyGram homepage. Source: MoneyGram

MoneyGram is an online money transfer service that allows you to send money to Greece from anywhere in the world. The service offers fast and convenient transfers, with the option to send money online or through their mobile app. MoneyGram provides cash wire transfers to bank accounts or mobile wallets in Greece. The exact percentage or prices for sending money to Greece varies depending on the exchange rate. For example, if you send $1.0000, your recipient will receive €0.8835 if the exchange rate is $1 = €0.9. 

The time it takes to send money to Greece through MoneyGram can vary based on the transfer method and the recipient's location. It usually takes 0 to 6 business days. Still, for specific details on the cost of sending, the minimum and maximum amounts that can be sent, and the transfer time, it is recommended to visit the MoneyGram website or contact their customer support.

4. Panda Remit
 Panda Remit homepage.
Panda Remit homepage. Source: Panda Remit

Panda Remit is an online money transfer service that allows you to send money from a source country and currency to a destination country and currency, including Greece. The service offers competitive exchange rates and zero fees for international money transfers. The time it takes to send money to Greece through Panda Remit can vary based on the transfer method and the recipient's location. But it is typically three minutes. 

Panda Remit offers various payment methods for money transfers, including ACH bank transfers and debit cards. For example, the handling fee for money transfers from the United States to Greece is currently $6.99. The minimum amount that can be sent at a time is $100, and the maximum is $2,999. Panda Remit provides bank-level security technology to protect your funds and information, and customer support is readily available by phone, email, and live chat.

5. CurrencyFair
 CurrencyFair homepage.‍
CurrencyFair homepage. Source: CurrencyFair

CurrencyFair gives you cheap, fast, and secure international money transfers to Greece, up to 8 times cheaper than a typical bank. The service allows you to exchange money on your terms, offering better exchange rates with no hidden fees. CurrencyFair supports sending and receiving money to and from 150+ countries in 20+ currencies, with same-day transfers in most major currencies. 

They charge just €3 anytime you send money to Greece, and the service is known for its competitive exchange rates, which means more money in your pocket. CurrencyFair also provides an option to set up a rate alert to never miss out on great deals. The minimum amount you can send is $10, and the maximum is $10,000,000. 

The service is authorized as a payment institution and has a 10-year track record of providing best-in-class service for quick, low-cost money transfers. Also, CurrencyFair offers an experienced multilingual customer support team available in a range of languages, providing first-class customer support.

6. Revolut
Revolut homepage.‍
Revolut homepage. Source: Revolut

Revolut is a finance app that allows you to send money to Greece from other countries. The service offers competitive exchange rates without transfer fees. Transfers to other Revolut customers and card transfers usually arrive in seconds, while bank transfers may take a bit longer, like hours. 

If you are in the UK, you can transfer up to £1,000,000,000 and as low as £1. The service is known for its transparency, allowing users to check rates and possible fees before sending money. The app is available for download on Android and iOS devices, and it provides a simple and user-friendly interface for making international money transfers.

7. XE Money Transfer
XE Money Transfer homepage.‍
XE Money Transfer homepage. Source: XE Money Transfer

Xe is an app that provides a convenient and secure way to send money to Greece and over 200 countries. The app offers competitive transfer rates that often beat the ones offered by banks and most other money transfer providers. The service is known for its faster transfer times compared to traditional wire transfers, with the ability to send money in as fast as 24 hours to over 200 countries. 

The app allows users to create a money transfer account easily, get an instant quote, and send money straightaway once they've selected their currency pair and checked the mid-market rate. The minimum and maximum amounts that can be sent are $1 and $535,000, respectively. The app is available for download on both the App Store and Google Play, and it has received over 105 million downloads, with thousands of money transfers sent daily.

4. Cryptocurrency Transfers

Sending money through cryptocurrency transfers, like Bitcoin, offers a modern and digital alternative for your international transactions. You need to know that when you initiate a cryptocurrency transfer, there's usually a transaction fee, which varies depending on the platform you use. 

Also, some platforms deduct a small percentage of the transferred amount, often ranging from 0.5% to 1%, to cover network fees. The transfer duration can be relatively fast, taking minutes to a few hours, depending on the blockchain network's activity. While cryptocurrency transfers can provide lower costs and quicker transactions, it's crucial to be mindful of the potential for value fluctuations and ensure you're comfortable with how to use crypto to send money before proceeding.

Top Cryptocurrency Platforms to Easily Send Money to Greece

Several options provide simplicity and efficiency when considering cryptocurrency platforms to send money to Greece. Here are the three best platforms:

  • Coinbase. Coinbase, a user-friendly platform, allows you to buy and send various cryptocurrencies to Greece. With fees of around 0.5%, transactions usually take 15 minutes to an hour.
  • Binance. Binance, known for its global reach, supports multiple cryptocurrencies with fees ranging from 0.1% to 0.5%. Transactions are completed within 10 to 30 minutes.
  • Kraken. Kraken, a secure platform supporting various cryptocurrencies, charges fees starting at 0.26% to send cryptocurrencies to Greece. Transactions typically take 15 to 30 minutes.

Pros of Sending Money to Greece Through Cryptocurrency

  • Cryptocurrency transfers often happen quickly.
  • Transaction fees for cryptocurrency transfers are lower than those associated with other traditional methods.
  • Cryptocurrencies operate on decentralized networks, reducing dependence on traditional banking systems.

Cons of Sending Money to Greece Through Cryptocurrency:

  • Cryptocurrencies can experience significant price volatility, leading to uncertainty about the final value of the transferred amount.
  • Not all businesses or individuals in Greece accept cryptocurrencies.
  • Dealing with cryptocurrencies requires understanding blockchain technology for the sender and the receiver. 

Tips for Sending Money to Greece

When sending money to Greece, consider the following to ensure a smooth and secure transaction:

Research Transfer Methods

Explore various transfer methods, such as online money transfer services, banks, or specialized transfer apps. Compare fees, exchange rates, and transfer speed to find the most suitable option.

Understand Fees and Exchange Rates

Be aware of any fees associated with the transfer, including transaction fees and currency exchange fees. Additionally, pay attention to the exchange rates offered, as they can impact the amount received by the recipient.

Use Reputable Services

Choose reputable and well-established money transfer services with a track record of reliability and security. Read user reviews and check for any regulatory certifications. Use any of the above ones we have covered.

Check Transfer Limits

Confirm the maximum and minimum transfer limits imposed by the chosen service to ensure it meets your specific transaction requirements.

Verify Recipient Details

Double-check and ensure the accuracy of the recipient's details, including their full name, contact information, and banking details. Any errors can lead to delays or complications.

Consider Transfer Speed

Evaluate the transfer speed, especially if the recipient needs the funds urgently. Some services offer faster transfers for a higher fee.

Review Documentation Requirements

Understand the documentation required for the transfer, such as identification documents for both the sender and the recipient. Ensure compliance with all necessary regulations.

Be Cautious with Cash Transfers

If using a service that allows cash pickups, inform the recipient promptly and ensure they have the necessary identification to collect the funds securely.

Stay Informed on Regulations

Stay updated on any regulatory changes related to international money transfers to Greece, like the Foreign Exchange Controls. Compliance with regulations is crucial for a smooth transaction.

Secure Your Transactions

Use secure internet connections when initiating online transfers, and keep your login credentials confidential. Enable two-factor authentication when available for an added layer of security.

Consider Currency Fluctuations

Be mindful of currency exchange rate fluctuations, especially if your funds are not in euros. Monitor rates and choose an optimal time for your transfer.

Keep Transaction Records

Maintain a record of your transaction details, including receipts, confirmation numbers, and any correspondence with the money transfer service. This documentation can be valuable for reference and dispute resolution if needed.

Ensure Sustainable and Ethical Money Transfer Practices

Embracing sustainable and ethical practices in money transfers to Greece is paramount. Opt for reputable online services for transparent fees and competitive rates, promoting financial inclusion and minimizing environmental impact. Prioritize secure transactions, validate recipient details, and adhere to regulatory compliance. Choose platforms that support financial inclusion and environmentally conscious initiatives, minimizing carbon footprints. 

Embrace sustainable options, consider factors like speed and transparency, and contribute to a responsible financial ecosystem. Uphold ethical standards by supporting services that prioritize fair practices and positive societal impacts. By following these practices, you ensure a money transfer process that aligns with sustainability and ethical principles.

Shashank Kothari
F4P Contributor

My goal is to empower readers with insightful blogs that explore future trends, provide practical guidance, and spark curiosity. Together, let's navigate the path to personal and professional growth in an ever-changing world.

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