What is the cheapest way to send money abroad from Norway?
Bank fees, exchange rates, Wise and Vipps compared.
Short answer
The cheapest way to send money abroad from Norway depends on the amount and destination, so compare the fee plus the exchange rate you get. DNB charges NOK 0 for SEPA payments and NOK 60 to countries outside Europe, while Wise says it uses the mid-market rate with an upfront fee. Vipps charges 4% within the Nordics.
Why
- DNB's price list shows NOK 0 for SEPA payments, NOK 30 for other payments to Europe and NOK 60 for other countries, plus NOK 350 if you also pay the costs abroad.
- DNB warns that payments in foreign currency or to countries outside the EU/EEA may be charged fees abroad, and it has no insight into fees taken by foreign banks.
- Wise says it only uses the live mid-market rate, and Norges Bank publishes daily reference rates that you can use to see how far a quoted rate is from the middle.
Details
To pay abroad from a Norwegian online bank, you need the recipient's account number (IBAN in Europe and some other countries), name and address, and the receiving bank's BIC/SWIFT code. Payments to the USA, Canada, Australia and South Africa also need a national bank code. At DNB, the amount and rate shown in the online bank are preliminary, and the payment is converted at the market rate when it is processed.
Tip
Before you send, compare how much the recipient will actually get in their currency with each option, not just the fee.
What may differ
For small sums to friends and family in Sweden, Denmark or Finland, Vipps can be simpler than a bank transfer, but it costs 4% of the amount, so a bank or a transfer service is usually worth comparing for larger sums.
People also ask
- How do I send money abroad from Norway?
- Is Wise cheaper than a Norwegian bank for transfers abroad?
Sources
- DNB: Prices for everyday bankingChecked at:
- DNB: Payments abroadChecked at:
- Wise: Pricing for sending moneyChecked at:
- Vipps MobilePay help: Does it cost anything to send money?Checked at:
- Norges Bank: Exchange ratesChecked at:
Prices change, so check your bank's price list and the provider's calculator before you send money.
Bank transfers and commissionsRelated questions
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How do I find the IBAN for my Norwegian bank account?
You find the IBAN for your Norwegian account in your bank's online bank or app under the account details, and also on your account statement.
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Why did my hotel or car rental company block money on my card in Norway?
Hotels and car rental companies reserve money on your card as security, and the reservation is released once the final amount is settled.
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How do I pay a Norwegian invoice with a KID number from abroad?
To pay a Norwegian invoice from abroad, make an international transfer to the payee's IBAN and BIC and enter the KID number as the payment reference.
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Do Norwegian banks charge an annual fee for debit cards?
Yes, banks such as DNB charge an annual fee for an adult debit card, currently NOK 295 a year, while cards for children and young people are free.