Add organization

Does it cost extra to send euros to a Danish bank account from another EU country?

Euro rules apply outside the euro area too.

Answered at: Checked at:

Short answer

Under EU rules, a payment in euros within the EU must not cost more than a national electronic payment of the same value in euros. This also applies to banks in countries outside the euro area, such as Denmark, and covers transfers, card payments, ATM withdrawals and direct debits in euros. If the money is converted into Danish kroner, the bank may charge a conversion fee, and you must be told the amount before you agree.

Practical info

Why

  1. The rule protects payments in euros, not in kroner.
  2. A Danish account can receive euros or kroner, depending on the account.
  3. Conversion fees must be shown in advance.

Details

Card providers may also charge a conversion fee when you pay in an EU currency other than the euro, such as Danish kroner.

Tip

Ask your bank in advance what a euro transfer to a Danish IBAN costs and in which currency it will arrive.

What may differ

Transfers from outside the EU, or in other currencies, are not covered by this rule and can cost more.

Common misconception

Many think any transfer to Denmark is expensive because Denmark does not use the euro.

What actually happens

A euro payment to Denmark follows the same price rule as a domestic euro payment.

People also ask

  • Should you pay in kroner or your own currency?
  • Is the Danish krone pegged to the euro?
  • Can a Danish company refuse a foreign EU bank account?

Sources

This answer is for reference only. Payment rules, limits and fees change, so check the official sources or your bank before you pay.

Practical info
Help