The cheapest way to send money abroad from Czechia is through Wise or Revolut: both use the real market (mid-market) exchange rate and charge a transparent fee of roughly 0.3–1%, while a standard bank transfer quietly loses you another 2–4% in exchange-rate markup. A bank works well for large official payments and free SEPA transfers in euros within the EU, but if you’re sending money to family in Ukraine, elsewhere in the EU, or to an account abroad, a fintech service is almost always the better deal.
Here’s the key principle: the real cost of a transfer has two parts — the visible fee and the markup on the exchange rate. Banks love to advertise “free transfers,” but that’s exactly where they make their money — on the rate. Wise and Revolut separate these two costs honestly, so you know the final amount in advance.
Wise, Revolut, or a Bank — Which One to Choose
- Wise — the best option for one-off transfers to a bank account (IBAN) in a specific currency: freelance income, helping family, paying someone abroad. Real exchange rate, fees starting at 0.42%, high limits.
- Revolut — great if both you and the recipient use the app: transfers between Revolut accounts are instant and free worldwide. Also solid for currency exchange and card payments while traveling.
- A bank (ČSOB, Česká spořitelna, Air Bank, Fio banka) — makes sense for large official payments, mortgages, or deals requiring an official bank statement, as well as for free SEPA euro transfers within the EU from a euro account.
Real Fees and Rates: 2026 Comparison
| Parameter | Wise | Revolut | Czech Bank |
|---|---|---|---|
| Exchange rate | Mid-market | Mid-market on weekdays | Own rate with ~2–4% markup |
| Transfer fee | From 0.42%; CZK→EUR: small fixed fee + ~0.43% | Free exchange within limit; international transfer from ~0.15% | SEPA in euros often free; outside the EU 1%, min. ~250 CZK, max. 1,500 CZK |
| Speed | Often same business day; up to 1–2 days | Instant between Revolut accounts; SEPA in seconds to hours | SEPA 1 day; SWIFT 1–5 days |
| Limits | High, depending on currency and verification level | Free exchange: Standard 25,000 CZK/month, Plus 75,000 CZK/month | High, but costly |
Revolut’s paid plans lower exchange and transfer costs: Plus costs around 114.99 CZK/month (free exchange up to 75,000 CZK, 0.5% above that), and Premium around 244.99 CZK/month (unlimited exchange under fair-use terms plus a discount on international transfers). On the free Standard plan, exchanging more than 25,000 CZK a month or exchanging on weekends adds a roughly 1% markup. Exact figures and current limits change from time to time — check the app for the latest terms.
How Much Actually Arrives from 1000 EUR — A Real-World Example
Say you’re sending the equivalent of 1000 EUR, and the recipient in the EU needs to receive euros. This is illustrative — the exact amount depends on the day’s exchange rate, so always check the calculator in the app.
- Wise: real exchange rate, fee of ~0.4–0.6%. The recipient gets roughly 994–996 EUR.
- Revolut (Standard plan, weekday, within the free limit): market rate, free exchange, free SEPA euro transfer — around 1000 EUR arrives. Above the limit or on weekends, expect roughly a 1% cut (≈990 EUR).
- Bank: the SEPA euro transfer itself is often free, but if you’re paying from a koruna card or account, the bank converts at its own rate with a 2–4% markup — the recipient effectively loses 20–40 EUR (≈960–980 EUR). Sending outside the EU or in a currency other than euros adds a fixed fee of around 250–1,500 CZK.
Bottom line: on a 1000 EUR transfer, the gap between a fintech service and a “free” bank transfer easily reaches 30–40 EUR. On larger amounts, the savings are even more noticeable.
How to Send Money to Ukraine
Through Wise, transfers to Ukraine go to the recipient’s IBAN (bank account number), not to a card. Since August 12, 2024, Wise has stopped delivering funds to Visa cards issued by Ukrainian banks, including PrivatBank — you’ll need to use the IBAN format instead. Money usually arrives the same business day (conversion may take up to 2 business days). The fee for hryvnia transfers is a small fixed charge plus a rate markup of around 0.65%; because of currency volatility, the rate can’t be guaranteed in advance.
There are restrictions: transfers aren’t available to accounts in occupied regions — Crimea, Sevastopol, and Donetsk, Kherson, Luhansk, and Zaporizhzhia oblasts. There are also limits on single-transfer amounts depending on the recipient’s bank. Get the recipient’s full IBAN and the exact spelling of their name in advance.
Transfers to EU Countries (SEPA)
Within the Single Euro Payments Area (SEPA), sending euros is the cheapest option. Revolut’s outgoing SEPA euro transfers are free, and most Czech banks offer free or near-free (around 5 CZK) incoming and outgoing SEPA transfers as well. The golden rule: pay in euros from a euro account — otherwise the bank will convert your korunas at its own rate and eat up the savings. If you don’t have a euro account, convert your korunas via Wise or Revolut first, then send the euros via SEPA.
Sending Money to Russia — What Actually Works in 2026
This is by far the trickiest area, and you should approach it with caution. Wise and Revolut do not process transfers to Russia. Major Russian banks have been cut off from SWIFT due to sanctions, and as of January 29, 2026, Russia has officially been added to the EU’s list of high-risk jurisdictions for anti-money-laundering purposes (this is an EU list, not FATF — Russia’s FATF membership has been suspended since 2023). As a result, banks in the EU, including Czech banks under ČNB oversight, are required to apply Enhanced Due Diligence to any transaction with a Russian connection.
Direct SWIFT transfers through Czech banks (Česká spořitelna, Komerční banka, ČSOB) are mostly blocked by automatic filters; transfers to non-sanctioned banks are technically possible but rare, slow, and require supporting documentation (a contract or invoice). Before attempting anything, check the current rules with your bank and make sure the transaction is legal — sanctions regulations change frequently, and mistakes here can be costly. If in doubt, consult a lawyer.
Receiving a Transfer from Abroad: IBAN or Card
To receive money from abroad, a multi-currency account is by far the most convenient option. Wise provides local account details for receiving euros, US dollars, British pounds, and other currencies — you get paid as if you had a local account, with no loss on the incoming exchange rate. Revolut gives you a personal IBAN for receiving euros and other currencies. A standard Czech bank account can also receive IBAN transfers, but the incoming rate will carry a bank markup.
The difference between IBAN and card is simple: an IBAN transfer is more reliable and cheaper for large or regular amounts (salary, fees), while a card transfer is faster for small everyday amounts but usually comes with tighter limits and a worse rate. Freelancers on živnost (OSVČ) status should receive foreign fees via IBAN — it’s cleaner for record-keeping with your accountant.
FAQ: Sending Money Abroad from Czechia
Which is cheaper — Wise or Revolut?
For a one-off transfer to a bank account, Wise is usually the better deal: real exchange rate and a low fixed fee. Revolut wins if the recipient also uses Revolut (instant, free transfer) or if you’re on a paid plan with a generous free-exchange limit.
Do I need a Czech bank account to use Wise or Revolut?
No, but it makes topping up free and convenient. You can top up Wise and Revolut with a card or a bank transfer either way. For how to open an account, see our guide “How to Open an Account at a Czech Bank,” and for which bank to choose, see “Best Bank in Czechia for Foreigners.”
How long does a transfer take?
Between Revolut accounts — instantly. Wise usually credits funds the same business day, with a maximum of 1–2 days. A euro SEPA transfer typically takes under a day. SWIFT transfers to far-off countries can take up to 1–5 business days.
Is it safe to send large amounts?
Yes — Wise and Revolut are licensed and regulated within the EU, but for large sums, have supporting documentation ready (a contract, invoice, or proof of the underlying transaction), as the bank or service may request it as part of source-of-funds checks. This is standard practice across the EU.
Can I send korunas and have the recipient receive euros?
Yes. With Wise and Revolut, you enter the amount in CZK and the recipient receives EUR at the market rate with a minimal fee. This works out far better than paying in euros from a koruna card at a regular bank, where the markup runs 2–4%.
For more practical guides, check out our guides section, and for where to start your life in Czechia, see the checklist “Moving to Czechia: First Steps.”
