You may have moved away from your family, be planning to buy a house there or have business interests in Sweden. Whatever your reason, when you make an international money transfer to Sweden you'll want value for money, here's what you can do to ensure you get the best deal.
Resist sending money via banks
If you're tempted to send money to Sweden directly from your bank... don't.
Banks have a reputation for slapping large fees on foreign cash transfers, comes straight out of the money you need to send overseas.
If banks justified this high cost by offering rapid transfers then that would be a mitigating factor, but it can sometimes take days for the transfer to go through - so you're not even guaranteed a quick overseas money transfer to Sweden when you choose a bank.
Currency exchange brokers offer better rates
To transfer money Sweden without having to pay through the nose for the privilege, you can turn to foreign exchange companies.
The majority of specialist companies will offer a cheap money transfer to Sweden without nailing on extra charges and it's also likely to much quicker than banks can manage. Most brokers advertise same day transfers.
As there is stiff competition in the money transfer business, companies offer good rates in order to attract customers - so you can often get the best Sweden currency exchange rate by comparing quotes they're offering.
Compare Swedish money transfers
To get the best value for your money when making a money transfer to Sweden, make sure to shop around and carry out a money transfer comparison.
You should get quotes from a number of foreign exchange companies; check whether they will charge you a fee for sending money and also whether there are any limits on how much you can transfer at once.
Send money online or by phone
What makes FX brokers even more appealing when sending money to Sweden is the fact that they offer a comprehensive service.
You can use their websites to get quotes and send money whenever you like, or call them if you'd rather talk it through with them. This means you can fit cash transfers around your lifestyle.
Brokers may also offer to provide you with an account manager, who will take you through your options and help you work out what's best - for example, if you have to arrange regular transfers to Sweden.
Keep an eye on exchange rates
You can help yourself to get a better deal by keeping up to date with rates and how they change.
Even tiny fluctuations can have a big impact on how much Swedish krona you can get for your pounds, so it also pays to make regular comparisons between providers to make sure the rate you're getting is still competitive.
Use location-based transfer companies
Even though brokers provide a great option, there may be occasions when you need to send money immediately and can't get online.
Companies that work with agents worldwide can help in this situation, as you can send money (or receive it) at thousands of different locations.
You can also use this service if you need to pay someone who doesn't have their own account in that country.
Transfers made this way can be completed in just a few minutes, offering unmatched speed - though you will have to pay for it. However, for the immediacy offered it's often worth it.
Our guide 7 top trade secrets to help you save when sending money abroad has more tips on how you can get the best value for money on transfers.
If you want to know more about sending money internationally, read our guide How to transfer money abroad.