What's the cheapest way to send money abroad from Austria?

It depends mainly on the destination and currency:

• Sending euros to a SEPA account (EU/EEA and some other participating countries): use your Austrian bank’s standard SEPA transfer. It must charge no more than it charges for a comparable domestic euro transfer, so this is often free. (finance.ec.europa.eu)
• Sending to a country that needs currency conversion: compare the total amount the recipient gets, not just the advertised fee. Check your bank against services such as Wise and Revolut; exchange-rate markups and funding method can make a “no-fee” transfer more expensive. Wise says its fee depends on the amount, payment method and exchange rate. (wise.com)
• To keep costs down: fund the transfer by bank transfer rather than card when possible, and compare quotes for the same amount and payout method just before sending. Avoid a regular bank SWIFT transfer unless its full fee and exchange rate are competitive.

If you tell me where you’re sending it, how much, and whether the recipient wants euros or local currency, I can narrow down the cheapest option.

The cheapest option depends on the amount, destination, and how fast the money needs to arrive. For most people sending a few hundred to a few thousand euros, a specialist online transfer service beats a traditional bank.

• Online transfer services are usually cheapest. Monito's comparison data for Austria to the US says the cheapest way to send money from Austria to the USA is through an online provider. Among those, Instarem was most often the cheapest provider, and OFX and Currencies Direct also came out ahead in many comparisons.
• Wise is a strong all-round choice. Its own pricing shows that the cheapest way to send 30,000 EUR to the USA is by using money that's in your Wise account, and it funds transfers from a bank account at a lower cost than a card. Wise's pages are marketing material, so check the current fee for your amount before relying on them. NerdWallet notes that Wise's upfront fees tend to be lowest if you use a bank account to fund your transfer, typically less than 1% of the transfer amount.
• OFX is good for avoiding flat fees. NerdWallet reports that OFX doesn't charge transfer fees regardless of how much gets sent. Check its exchange-rate margin as well, since that is where the cost usually sits.
• Avoid Western Union and most banks for routine transfers. Monito estimates that Austria to the USA with Western Union is 1.9% of the amount you send, whereas the cheapest online services have an average cost of 0.4%. Austrian bank transfers are also often expensive: generally, bank transfers are one of the more expensive options for sending money abroad from Austria.
• Revolut can be cheap if you plan around its rules. Its Austrian page says it won't charge you additional currency exchange fees on weekdays, depending on your plan. Its paid plans cost extra per month, so this only pays off if you send money often.

Practical tips:

• Compare the total cost, meaning the fee plus the exchange-rate margin, and the amount the recipient actually receives. A "zero fee" service can still have a poor rate.
• If the recipient is in the euro area and you're sending euros, a normal SEPA bank transfer is typically cheap. I didn't verify this in my search, so confirm with your bank.
• Some providers charge less or nothing on a first transfer, but that offer applies only once.
• For large sums, Wise and OFX often negotiate better rates, so it's worth asking for a quote.

Tell me the destination country, the amount, and whether the recipient needs cash pickup or a bank deposit, and I can narrow this down.

To send money abroad from Austria, the cheapest option is generally to use specialized digital money transfer services rather than traditional banks.

While traditional banks are convenient, they often charge high fees and use less favorable exchange rates. Digital platforms are typically more transparent, faster, and significantly cheaper.

Recommended Services

Several platforms are widely trusted for transfers from Austria. The "best" choice often depends on the specific currency and destination, so it is worth checking a few of these before you send:

• Wise (formerly TransferWise): Known for its transparency, Wise uses the real "mid-market" exchange rate (the one you see on Google) and charges a low, upfront fee. It is often one of the most cost-effective options for international transfers.
• Revolut: Excellent for those who want speed and a fully digital experience. It allows you to hold and exchange multiple currencies, and often offers competitive rates, especially if you have a plan.
• Other Options: Services like Xe, Ria, and Remitly are also popular and frequently offer competitive rates.

Important Tips to Save Money

• Compare Before You Send: Exchange rates fluctuate throughout the day. Use comparison engines like Monito or RemitFinder to see which provider offers the best deal for your specific transfer amount and destination on that day.
• Watch Out for "Zero Fee" Claims: Some services advertise "no fees" but hide their profit in a poor exchange rate (a markup). Always look at the total amount the recipient will receive, not just the fee.
• SEPA Transfers (Within the EEA): If you are sending Euros to another account within the SEPA zone (which includes all EU countries, plus others like the UK, Switzerland, and Norway), your bank is legally prohibited from charging higher fees than for a domestic transfer. In this specific case, a standard bank transfer is likely the cheapest and easiest option.
• Payment Method Matters: How you pay for the transfer affects the cost. Funding a transfer via a bank account is often cheaper than using a credit or debit card, which may incur additional processing fees.

Summary: For transfers within the SEPA zone, use your regular bank account. For international transfers outside of the Eurozone, use a service like Wise or Revolut to avoid high bank markups and fees.

Usually cheapest:

• If the recipient can receive euros in a SEPA country: send a standard euro bank transfer from your Austrian account. Cross-border euro transfers within SEPA generally cost the same as a domestic transfer, and are usually free. ⁴⁷
• If the recipient needs another currency: compare the amount they’ll actually receive in your bank’s app and services such as Wise and Revolut before confirming. Include both the transfer fee and the exchange-rate markup—“no fee” alone doesn’t mean cheapest. ³
• For cash pickup or mobile-wallet delivery: compare providers such as Remitly, since the total cost depends on destination, payment method, and delivery option. ¹

For a fair comparison, enter the same amount, destination, and delivery method in each provider’s quote screen. Pay by bank transfer where possible; card payments can cost more. Also check for recipient or intermediary-bank charges on transfers outside SEPA. ²³