Sending Money Home from Denmark

Sending money home is a regular task for most expats. Whether it is family support, loan repayments, property maintenance, or savings diversification — international transfers from Denmark happen constantly.

Danish banks are among the most expensive ways to do this. They charge flat fees of DKK 100–250 per transfer and apply an FX margin of 2–4% on the exchange rate without disclosing it clearly. On a DKK 20,000 transfer, that hidden margin can cost you DKK 400–800 on top of the visible fee.

There are better options. This guide covers the main ones, with real cost comparisons.

The Main Options

Wise (Best Overall)

Wise uses the mid-market exchange rate — the rate you see on Google or XE.com — and charges a transparent percentage fee on top. There are no hidden FX margins. The fee varies by currency corridor but is typically 0.4–1.5% of the transfer amount.

For sending DKK 10,000 to India (INR):

• Wise fee: approximately DKK 65–90
• Exchange rate: mid-market rate
• Transfer time: 1–2 business days

For sending DKK 10,000 to the Philippines (PHP):

• Wise fee: approximately DKK 75–100
• Exchange rate: mid-market rate
• Transfer time: 1–2 business days

Wise supports transfers from Danish bank accounts (via SEPA bank transfer or debit card) and delivers to local bank accounts in 80+ countries. The recipient receives their local currency directly to their bank account.

How to send: Log into Wise (web or app), enter the amount, recipient country and currency, enter the recipient's bank account details, pay from your Danish bank account via bank transfer. Straightforward.

Revolut

Revolut offers competitive exchange rates with the real mid-market rate for most currencies during market hours. Outside market hours (weekends), Revolut applies a 0.5–2% markup. This is disclosed, but easy to miss.

Revolut is good for transfers to major currencies (EUR, GBP, USD, AUD). For less common corridors (INR, PHP, NPR), Wise is generally more competitive.

Standard tier allows unlimited currency exchange at the interbank rate (weekday only) with a DKK 42,000/month limit before a 0.5% fair usage fee applies.

Revolut transfers to local bank accounts in 30+ countries. Delivery is typically 1–3 business days.

Western Union

Western Union is the oldest player and still has the widest reach — useful when the recipient does not have a bank account and needs to collect cash at a local agent.

However, Western Union is significantly more expensive than Wise for bank-to-bank transfers. The exchange rate margin on DKK → INR or DKK → PHP is typically 2–4% worse than the mid-market rate, plus a service fee. On a DKK 10,000 transfer, the total cost difference versus Wise can be DKK 200–500.

When Western Union makes sense: Your recipient is in a rural area with no reliable bank account access and can collect cash at a local agent. For bank-to-bank transfers with a recipient who has a bank account, it is not competitive.

Danish Bank (Nordea, Danske Bank, Jyske Bank)

Traditional Danish banks charge:

• A fixed fee per transfer: DKK 100–250
• An FX margin of 2–4% embedded in their exchange rate (not shown as a line item)

On a DKK 20,000 transfer, the true cost including the hidden FX margin:

• Visible fee: DKK 150
• Hidden FX margin at 3%: DKK 600
• Total real cost: DKK 750

The same transfer via Wise: approximately DKK 150–200 all-in.

Danish bank transfers are appropriate only if you have no alternative and the amount is very small (where the percentage savings do not justify setting up Wise). For any regular transfer, the setup cost of a Wise account (zero) is paid back on the first transfer.

Real Cost Comparison: DKK 10,000 Transfer

Provider	Fee	Exchange Rate	Recipient Gets (INR)	Recipient Gets (PHP)
Wise	DKK 70–90	Mid-market	Best	Best
Revolut (weekday)	DKK 0–30	Mid-market	Very good	Very good
Western Union	DKK 100–200	2–3% worse	Poor	Poor
Danish bank	DKK 150 + FX margin	2–4% worse	Poor	Poor

Note: Exchange rates fluctuate daily. The comparison above shows relative cost structure. Check Wise and Revolut live quotes before each large transfer.

Transfer Times by Provider

Provider	Europe (SEPA)	India (INR)	Philippines (PHP)	USA (USD)
Wise	Same day – 1 day	1–2 days	1–2 days	1–2 days
Revolut	Same day	2–3 days	2–4 days	1–2 days
Western Union	1–3 days	Minutes (cash) / 1 day (bank)	Minutes (cash) / 1 day (bank)	1–2 days
Danish bank (SWIFT)	1–2 days	3–5 days	3–5 days	2–4 days

Tips for Minimising Transfer Costs

Batch your transfers

Each transfer has a minimum fixed fee component. Instead of sending DKK 5,000 twice a month, send DKK 10,000 once. The percentage fee is the same but you avoid paying a second transaction cost.

Use rate alerts

Both Wise and Revolut offer rate alert notifications — set a target rate and get notified when the DKK/INR or DKK/PHP rate hits it. For large transfers (DKK 50,000+), timing can save DKK 500–2,000.

Avoid weekend exchanges with Revolut

Revolut applies a markup on currency exchange on weekends (Friday evening through Monday morning). Send large transfers on weekdays.

Fund via bank transfer, not debit card

Both Wise and Revolut allow you to fund the transfer via a bank transfer from your Danish account (SEPA) or by debit card. SEPA bank transfers typically have lower fees than card funding. Use bank transfer for large amounts.

Recommended Approach by Transfer Corridor

Sending To	Best Option	Why
India (INR)	Wise	Best rates and fees on INR, reliable delivery
Philippines (PHP)	Wise	Strong coverage, direct to Philippine banks
UK (GBP)	Wise or Revolut	Both excellent; compare live rates
USA (USD)	Wise or Revolut	Both competitive; check live fee
Germany/EU (EUR)	SEPA transfer from Lunar	Free for euro SEPA transfers; zero fees
Nepal, Bangladesh	Wise	Better corridor coverage than Revolut
Cash pickup anywhere	Western Union	Only use case where WU makes sense

For EU transfers in euros, you often do not need Wise at all. Send directly via SEPA from your Lunar or any Danish bank account — SEPA transfers within the EU are typically free or DKK 0–15.

Key Takeaways

• Danish banks charge 2–4% FX margin on international transfers, hidden in the exchange rate. On DKK 20,000, this costs DKK 400–800 more than Wise.
• Wise is the best default option for most corridors — mid-market rate, transparent fees, reliable delivery in 1–2 days.
• Revolut is competitive but applies a markup on weekends — use on weekdays for large transfers.
• Western Union is only better than alternatives when the recipient needs cash pickup without a bank account.
• For EU transfers in euros, use SEPA directly from your Danish bank — it is free and same-day.
• Set up rate alerts for large transfers. Timing a DKK 100,000 remittance can save DKK 2,000–5,000.