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Sending euros from a Norwegian account to Spain, Portugal or elsewhere in Europe now costs NOK 0 at most well-known traditional banks. Transfers in other currencies cost NOK 30 to 75 at the traditional banks. On top of that, you pay a less visible cost: the exchange rate. We checked the official price lists of DNB, Nordea, two SpareBank 1 banks and six local banks (as of 14–15 November 2026).
Many people in Norway send money abroad regularly: people who own a home abroad, pay off a loan in their home country, support children studying abroad or send money to family back home.
A transfer has two costs. The first is the fee shown in the bank’s price list. The second is the exchange rate the bank uses to convert kroner into another currency. This second cost is not shown in the price list.
Key Points
- A SEPA transfer in euros is free at DNB, Nordea, SpareBank 1 Sør-Norge, Penni, Handelsbanken and Sparebanken Norge.
- Transfers in other currencies cost from NOK 30 to NOK 100, depending on the bank.
- A transfer made in a branch can cost several times more – at Nordea NOK 450 instead of NOK 75.
- The biggest hidden cost is the exchange rate: on NOK 50,000, every 1% added to the rate costs about NOK 500.
Prefer an app to a bank?
Revolut – a multi-currency account on your phone: currency exchange, international transfers and a card for paying abroad.
OPEN A REVOLUT ACCOUNT »SEPA: a euro transfer treated like a domestic one
The simplest option is a transfer in euros within the Single Euro Payments Area (SEPA). According to the European Central Bank (ECB), SEPA covers 41 European countries – including some outside the euro area and the European Union (as of 22 May 2025). It includes all EU member states as well as Norway, Iceland, Liechtenstein, Switzerland and the United Kingdom.
One rule is key: a SEPA transfer is always a transfer in euros. Sending pounds to the UK or kronor to Sweden is not a SEPA transfer, even though both countries are part of the area.
According to the ECB, an electronic SEPA payment should arrive within one business day. Norway’s largest bank, DNB, says on its page about payments to Europe that money usually reaches the recipient’s account the next day. SpareBank 1 SMN is more cautious: it says the money reaches the recipient’s bank “within 2 days” if all details are correct.
DNB treats a payment as SEPA only if four conditions are met: the currency must be euros, the account number must be in IBAN format, the recipient bank’s BIC code must be given, and the costs must be shared between sender and recipient.
Read Also: CREDIT CARD IN NORWAY FOR EXPATS | 5 THINGS YOU NEED TO KNOW
What an international transfer costs at Norwegian banks
The fees below apply to personal customers who make transfers themselves in online or mobile banking. They come from the banks’ official price lists.
| Bank | SEPA in euros | Other international transfers | Surcharge if sender pays foreign charges |
|---|---|---|---|
| DNB | NOK 0 | NOK 30 within Europe (non-SEPA), NOK 60 to other countries | NOK 350 |
| NORDEA | NOK 0 | NOK 75; urgent transfer NOK 350 | at least NOK 300 |
| SPAREBANK 1 SØR-NORGE | NOK 0 | NOK 35 or 55 in other currencies (see below); NOK 250 for a transfer in Norwegian kroner abroad | NOK 300 |
| SPAREBANK 1 SMN | NOK 30 | NOK 75 | NOK 100 plus foreign charges |
Source: banks’ price lists for personal customers, checked on 14 November 2026.
DNB: NOK 30 for a transfer in local currency within Europe
According to DNB’s price list, a SEPA transfer costs NOK 0. The bank says SEPA transfers have been free since 1 August 2025.
DNB also offers a lesser-known option: the European payment (Europabetaling). It works like SEPA, with one difference: the transfer does not have to be in euros, but it must be in the currency used by the recipient’s bank. Supported countries and currencies include the United Kingdom (GBP), Sweden (SEK), Denmark (DKK), the Czech Republic (CZK) and Switzerland (CHF). Such a transfer costs NOK 30. Transfers to other countries cost NOK 60.
If the sender wants to pay the foreign banks’ charges as well, there is an extra fee of NOK 350. DNB warns that foreign charges may still apply to payments in other currencies or to countries outside the EU and the European Economic Area (EEA).
Nordea: euros free, everything else NOK 75
Nordea’s price list for personal customers shows that a SEPA transfer in euros ordered online costs NOK 0. Any other international transfer costs NOK 75, and an urgent transfer (Hasteoverførsel) NOK 350.
Transfers made in a branch or through customer service cost much more: NOK 120 for a SEPA transfer and NOK 450 for a regular international transfer. Correcting an incorrect order costs NOK 300.
SpareBank 1: every bank has its own price list
SpareBank 1 is not a single bank but an alliance of independent regional banks. Each bank sets its own fees, so there is no single price for the whole group.
SpareBank 1 Sør-Norge charges nothing for a SEPA transfer in euros. For other currencies, the bank’s documents give different figures. The price list on its website shows one fee: NOK 55. The bank’s official fee overview (Gebyropplysningsskjema) from 1 January 2026, however, lists NOK 35 for a transfer in another currency to EU/EEA countries and NOK 55 for other countries. It is not clear which fee applies today, so check the amount in your online bank before sending. One fee stands out: sending Norwegian kroner abroad costs NOK 250.
SpareBank 1 SMN, based in central Norway, charges NOK 30 for a SEPA transfer and NOK 75 for other regular international transfers. A missing IBAN, BIC or documentation code adds NOK 100.
Read Also: PERSONAL FINANCE | THE EASIEST WAYS TO REFINANCE CONSUMER LOANS IN NORWAY
Local banks: what sets them apart
The three largest groups are not the whole market, however. We also checked the price lists of six local banks. They show that local banks can match the biggest ones on transfer fees – but also that prices vary a lot.
| Bank | Transfer in euros (SEPA) | Other online transfers | Urgent transfer | Surcharge if sender pays foreign charges |
|---|---|---|---|---|
| PENNI | NOK 0 | NOK 60 | not in price list | not in price list |
| HANDELSBANKEN | NOK 0 | NOK 60 | NOK 300 | NOK 250 |
| SPAREBANKEN NORGE | NOK 0 (also SEK) | NOK 75 | NOK 400 | NOK 300 |
| SPAREBANKEN ØST | NOK 3.50 | NOK 100 | not in price list | NOK 175 (NOK 300 from 1 January 2027) |
| HAUGESUND SPAREBANK | NOK 40 | NOK 80 | not in price list | from NOK 135 |
| SPAREBANKEN MØRE | no separate item | NOK 65 | NOK 350 | at least NOK 200 |
Source: banks’ price lists, checked on 15 November 2026.
Penni is a digital bank in the Eika group. A euro transfer to EU and SEPA countries costs NOK 0, to other countries NOK 60. The price list is short: there is no urgent transfer and no option to pay foreign charges. Fees are always shared between sender and recipient.
Handelsbanken has the same basic rates as Penni – NOK 0 and NOK 60 – but a fuller range of services: express transfers for NOK 300 and a NOK 250 surcharge when the sender pays all charges. The bank has already published its prices from 4 January 2027: online transfer fees stay the same. A SEPA transfer made in a branch costs NOK 300, rising to NOK 350 from January.
Sparebanken Norge stands out: its free European transfer works not only in euros but also in Swedish kronor. A regular SWIFT transfer costs NOK 75, an urgent one NOK 400.
Sparebanken Øst charges NOK 3.50 for a European transfer (Sepa europabetaling) in online banking. However, its other transfers are the most expensive in our comparison: NOK 100. A transfer made manually by the bank costs NOK 800.
Haugesund Sparebank, also part of the Eika alliance, charges NOK 40 for a euro transfer to the EU and NOK 80 for a transfer in another currency. This shows that other Eika banks do not necessarily charge the same as Penni – each sets its own fees.
Sparebanken Møre lists NOK 65 for a regular online SWIFT transfer and NOK 350 for an urgent one. Its price list does not mention outgoing SEPA transfers in euros, so it is unclear whether they are free or cost NOK 65 – ask the bank.
This comparison covers only the fee for making the transfer. It says nothing about the exchange rate – and for larger amounts, the exchange rate is what decides the total cost.
The exchange rate: the cost that is not in the price list
The transfer fee is usually the smaller part of the bill. When kroner are converted into another currency, the bank uses its own exchange rate. The difference between this rate and the market rate is a cost you pay.
None of the price lists we checked shows the size of this mark-up. One clue is the mark-up on card payments: SpareBank 1 Sør-Norge lists 2%. However, that applies to cards, not transfers. The mark-up on transfers may be different, and the banks do not say how large it is.
A simple example shows what this means. At mid-market rates on 13 November 2026, NOK 50,000 was worth about EUR 4,736.
| Scenario | Recipient gets (EUR) | Cost in NOK |
|---|---|---|
| Mid-market rate, no margin | about EUR 4,736 | NOK 0 |
| Rate 1% worse | about EUR 4,688 | about NOK 500 |
| Rate 2% worse | about EUR 4,641 | about NOK 1,000 |
Illustrative example. The 1% and 2% mark-ups are our assumptions, not the rates of any specific bank. Own calculations based on mid-market rates on 13 November 2026.
In short: on NOK 50,000, each 1% added to the exchange rate costs about NOK 500. That is five times the highest regular online transfer fee in our comparison (NOK 100 at Sparebanken Øst).
Check how much will actually reach the recipient
CHECK THE RATE ON WISE »Euros or local currency?
When you send money to a country outside the euro area – such as the United Kingdom, Sweden or Denmark – you have two options.
Transfer in euros (SEPA). Free at DNB, Nordea and SpareBank 1 Sør-Norge. Your Norwegian bank converts kroner into euros at its own rate. If the recipient’s account is in another currency, the recipient’s bank converts the money again – at its own rate. The money is converted twice.
Transfer in the local currency. The money is converted only once, by your Norwegian bank. The fee is NOK 30 at DNB (as a Europabetaling), NOK 35 or 55 at SpareBank 1 Sør-Norge and NOK 75 at Nordea and SpareBank 1 SMN.
Which option is cheaper depends on both banks’ exchange rates on the day – the price lists alone will not tell you. For transfers to Spain, Portugal or other euro-area countries this is not an issue, because the recipient’s account is usually in euros.
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Banks vs specialist transfer services
Companies that specialise in international transfers are an alternative to banks. One of the best known, Wise, says on its website that it uses the mid-market rate with no mark-up and makes money from a clear transfer fee. According to Wise, banks add a mark-up to the rate.
This is the company’s own claim, not an independent comparison. Wise’s fee depends on the amount and currency and changes over time; we have not verified it for specific transfers. To compare fairly, check one thing at the same moment: how much actually reaches the recipient for the same amount in kroner.
For comparison, here are popular international transfer services used by expats in Norway:
| Service | Best for | Offer |
|---|---|---|
| WISE | Multi-currency account, conversion at the mid-market rate, debit card | CHECK» |
| RIA MONEY TRANSFER | International transfers and cash pick-up at partner locations | CHECK» |
| TRANSFERGO | Fast transfers from Norway to Europe | CHECK» |
| REMITLY | Bank deposits and cash pick-up in many countries | CHECK» |
| XE MONEY TRANSFER | International transfers and live exchange rates | CHECK» |
| REVOLUT | Multi-currency app account, currency exchange and international transfers; exchange terms depend on the plan | CHECK» |
Some links in the table are affiliate links – localmarket.no may receive a commission. This does not affect our comparison.
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What to pay most attention to
- Send euros to euro-area countries. A SEPA transfer to Spain or Portugal is free at DNB, Nordea and SpareBank 1 Sør-Norge.
- For non-euro countries, compare both routes. A free euro transfer means a second conversion at the recipient’s bank. A transfer in local currency costs NOK 30 to 75 at the traditional banks, but the money is converted only once.
- Look at the amount received, not the fee. For larger sums, the exchange rate matters more than the fee.
- Make transfers yourself online. At Nordea, a transfer made in a branch costs NOK 450 instead of NOK 75.
- Check the recipient’s details. A wrong IBAN or a missing BIC can cost NOK 100–300 extra, depending on the bank.
- With SpareBank 1, check your own regional bank’s price list. Prices vary within the group: a SEPA transfer costs NOK 0 at Sør-Norge and NOK 30 at SMN.
Paying by card abroad?
Compare credit cards in Norway – lower currency mark-ups, bonuses and travel insurance.
COMPARE CREDIT CARDS »Glossary
- SEPA – Single Euro Payments Area; common rules for euro transfers in 41 countries.
- IBAN – International Bank Account Number.
- BIC (SWIFT) – code identifying a bank in international payments.
- Europabetaling – at DNB: a transfer within Europe in the local currency of the recipient’s bank.
- Hasteoverførsel – urgent transfer.
- Utenlandsbetaling – international transfer.
This comparison covers selected banks and is not a full market review. Prices may change, so check your bank’s current price list before sending money. This article is for information only and is not financial advice.
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