How to Send Money to Sweden from Canada?

How to Send Money to Sweden from Canada?
Last Updated: 15 Aug 2023



Sending money abroad comes with expenses. When sending money to Sweden, opting for a currency specialist like MTFX is the most effective way to minimize these costs and avoid the fees charged by banks.

Sweden, with its unrestricted property purchases for foreigners, an ideal destination for studying or traveling, stands as a land of numerous opportunities. Canadian businesses further contribute to Sweden's thriving economy by importing significant quantities of machinery, pharmaceuticals, electricals, and various other goods from Swedish suppliers, amounting to billions of dollars.

Whether you dream of owning a charming Swedish Falu-red cottage nestled amidst picturesque landscapes or envision a romantic Scandinavian destination wedding under the ethereal Northern Lights, the journey begins with sending money to Sweden from Canada.

To ensure seamless international money transfers, the wisest and most optimal approach lies in utilizing a reputable transfer service that offers competitive exchange rates, low transfer fees, and overall convenience.

What is a good SEK/CAD exchange rate? 

When transferring money to Sweden, securing a favorable exchange rate becomes crucial to maximize savings. MTFX is an excellent option as it consistently offers exchange rates 3-5% lower than banks. This means you could save up to $1,500 on every $30,000 transferred by choosing MTFX. To take things up a notch, you can also use MTFX's range of foreign exchange tools to streamline the process and enhance your overall experience.

Start using the live rate currency calculator to match the Canadian dollar to the Swedish Krona. Discover how your dollars convert before initiating your transfer.

What is the best way to send money to Sweden? 

There are numerous ways to send money that often come with substantial costs that diminish the value of your money. Besides uncompetitive exchange rates, you'll typically encounter expensive transfer fees and less-than-optimal transfer speeds.

A superior alternative is opting for a specialist foreign exchange service like MTFX, which offers numerous benefits. This cost-effective option grants access to competitive exchange rates and low transfer fees.  

This service ensures faster deliveries, with transfers reaching their destination within 24-48 hours. Additionally, your secure online account serves as the perfect gateway to convenient, safe, and efficient overseas foreign exchange payments, available anytime and anywhere.

Who can use MTFX to transfer money to Sweden? 

As a Canadian, you have the option to open either a personal or business account with MTFX for transferring money to Sweden.

Individuals

Your personal account enables you to send money to family and friends abroad. You can also transfer money to your Swedish bank account to cover the cost of living, tuition, or investments in Sweden.

Companies

Your business account lets you send payments to suppliers, pay salaries, or make various business investments by depositing money in a Swedish bank account.

What bank details are needed to transfer money to Sweden? 

You need the following details to transfer money to Sweden from Canada:

  • Beneficiary's name
  • Beneficiary's account number
  • Beneficiary's contact details
  • Bank's name
  • Bank's Swift code
  • Bank's address
  • Reason(s) for transfer 
     

Make sure to provide all the necessary information to ensure a smooth transaction.

How to make regular transfers to Sweden? 

If you have chosen Sweden as your study-abroad destination, you may find it necessary to regularly send money to a Swedish bank account for tuition payments. Alternatively, if you're planning to relocate to Sweden and join the community of Canadian expats, you might need to move Canadian dollars frequently to cover the relatively high cost of living² in Sweden.

The same holds true for businesses with Swedish suppliers and remote employees on their payroll. No matter your circumstances, MTFX enables you to set up simple, regular payments via your online account. Moreover, with MTFX's automated technologies and specialized services, managing your overseas payments has never been more cost-effective, faster, or easier.

Looking to Send Money to Sweden?
 

Send money to Sweden today 

Transferring via MTFX is a package deal with competitive exchange rates, low transfer fees, foreign exchange tools, and expert guidance. That means more savings in your wallet and less hassle with every overseas payment. 

Ready to start making the most of your money? Register an account today with MTFX to send money to Sweden conveniently and efficiently.    
 

Frequently Asked Questions


What is the official currency of Sweden?

The official currency of Sweden is the Swedish Krona (SEK). Despite being a member of the European Union, Sweden has chosen not to adopt the Euro, making the Swedish Krona the primary and widely accepted currency in the country. As a result, it is essential for travelers and visitors to use SEK when conducting transactions in Sweden, as Euros are generally not accepted. So, before your trip, ensure you exchange your currency for Swedish Krona to make your transactions smooth and hassle-free.

What is the cheapest way to send money to Sweden?

When comparing traditional banks with online money transfer service providers, utilizing platforms like MTFX generally offers the most cost-effective method for sending money to Sweden. These services provide competitive exchange rates and low fees, making them the cheaper option

How long does it take to send money from Canada to Sweden?

When using MTFX for money transfers from Canada to Sweden, your beneficiary typically receives the funds within 24-48 hours. For instant transfers, same-day options are available, while for less urgent transfers, MTFX offers low-cost in-country payment services.

How to send money online to Sweden?

Here are a few steps to follow when you want to transfer money to Sweden:

  • Open a free online account with MTFX, which takes less than five minutes. If you haven't already, add funds to your account by making a bank transfer or using a bill payment option.
  • Set up your transfer by inputting the recipient's details, and the amount you wish to transfer, and select the currency pair (CAD/SEK).
  • Initiate your transfer and track it online. Your transfer should arrive within 24-48 hours, making it a quick and efficient way to send payment to Sweden. 
     

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Sources:

  1. Canada's imports
  2. relatively high

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