Send money to Europe

Xapo Bank makes it simple for you to send money to Europe. As a Xapo Bank member, you can effortlessly send Euros to banks in the SEPA region. This ensures convenient and efficient transactions. Even though Xapo Bank does not offer Euro bank accounts, you can seamlessly use your USD bank account to send money to Europe. We directly use your USD balance which we convert to Euros at a very competitive rate, to execute your transfer.

Here’s how it works:

• Open an account at Xapo Bank
• Access the Xapo Bank app
• On the Wallet tab, tap Send
• Select Bank account
• Select an already existing SEPA account or Add a new recipient
• Specify the amount of your Euro transfer, choose the transfer type (regular or instant), and add a purpose and reference (optional)
• Tap Continue and review the transfer before confirming

The process is the same if someone sends Euros to your Xapo Bank account. We convert the Euros you receive to USD, which will arrive in your USD bank account. Additionally, you can move your USD deposits to your Savings account to start earning 4.6% annual interest, paid daily.*

SEPA stands for Single Euro Payments Area, which is a banking network used for transfers in Europe. This system enables cashless Euro payments anywhere in the European Union, as well as in some non-EU countries participating in the SEPA scheme.

The SEPA banking network aims to improve cross-border Euro payments, making them easier, quicker, and less expensive. SEPA transfers usually take up to two business days to be processed but can be faster with SEPA instant transfers. These are almost instant and are processed in seconds.

1. Streamlined cross-border payments

By creating a standard banking network, SEPA eliminates the hassle of dealing with numerous systems just to make a single transaction. Instead, payments can flow through banks within the SEPA region, making transactions smoother and more efficient.

2. Wide acceptance

Most banks and financial institutions support SEPA transfers throughout the SEPA region. This ensures that your money can be securely and reliably sent to various destinations across Europe.

3. Cost-effective

SEPA transactions are generally more cost-effective when compared to traditional international wire transfers. Regardless of where you are, funds transfers within the SEPA region are often treated as domestic payments, resulting in much lower costs than other international banking networks.

Xapo Bank is one of the few regulated banks that enables its members to send and receive Euros directly using their USD bank account.

With the seamless integration of the SEPA network into Xapo Bank, you can easily send Euros to banks in the SEPA region using your Xapo Bank USD account. The Euros sent will be converted from the USD you are holding in your Xapo Bank account.

You can also deposit Euros from local banks in Europe to your Xapo Bank USD account. The Euros received will be instantly converted to USD at a very competitive rate and will start to earn 4.6% interest, paid daily.¹

While SEPA is the cheapest way to send money to Europe, the network also comes with other advantages.

1. Fast processing times

With Xapo Bank's SEPA integration, you can experience optimised transactions across Europe in just a few taps.

2. Competitive exchange rates

When you send money to Europe from your Xapo Bank USD account, you can take advantage of highly competitive exchange rates and experience one of the cheapest ways to send money to Europe.

3. Security

To ensure the security of its members' funds, Xapo Bank uses cutting-edge tools and digital intelligence to help protect their wealth. 

Xapo Bank operates from Gibraltar, one of the most trusted financial jurisdictions in the world. Fully licensed as a credit institution and DLT (Distributed Ledger Technology) institution, Xapo Bank adheres to strict regulatory frameworks set out by the Gibraltar Financial Services Commission and guarantees deposits of up to the USD equivalent of 100,000 EUR.

4. User-friendly platform

Xapo Bank keeps money management simple. Send and receive EUR, GBP, BTC, and stablecoins securely using your Xapo Bank USD account. On top of that, you can earn interest on your USD and BTC deposits that’s paid daily.

With Xapo Bank, you can send money to Europe quickly and securely with the SEPA payment network, backed by banks and governments. To protect and grow your wealth in a safe and secure way that gives you on-demand access to your funds, become a Xapo Bank member.

This article is for general information purposes only and is not intended to constitute legal or other professional advice or a recommendation of any kind whatsoever and should not be relied upon or treated as a substitute for specific advice relevant to particular circumstances. We make no warranties, representations or undertakings about any of the content of this article (including, without limitation, as to the quality, accuracy, completeness or fitness for any particular purpose of such content), or any content of any other material referred to or accessed by hyperlinks through this article. We make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up-to-date.

* The Annual Interest Rate offered on both USD and Bitcoin deposits is variable and may change at any time. Please see our Interest FAQs for more information. Interest on Bitcoin deposits will only be paid on balances of 5 BTC or less. For more information, visit our Help Centre. Interest on both USD and BTC is currently paid in Satoshis. We may instead choose to pay it in any other supported currency or currencies (fiat and/or crypto) from time to time.