Best Ways to Send Money to Students in Europe from the U.S.

Sending money to students studying abroad in Europe from the U.S. can be a crucial aspect of supporting their education and daily living expenses. Whether it’s to cover tuition, rent, or everyday needs, ensuring the money arrives quickly and securely is essential. Here’s a guide to the best ways to send money to students in Europe, with Wise standing out as the #1 option for efficiency, cost-effectiveness, and ease of use.

Our Top Picks For Money Transfers in 2025

1. Wise – Best Overall

Why It’s the Best:
Wise is widely recognized for its transparent fee structure, mid-market exchange rates, and ease of use. Unlike traditional banks that often add hefty markups to their exchange rates, Wise guarantees you the real exchange rate, ensuring your student gets more of the money you send. This can be a game-changer when sending large sums for tuition or living expenses.

Key Features:

• Transparent Fees: No hidden charges. What you see is what you pay.
• Real Exchange Rates: Uses the mid-market rate, which is the fairest rate available.
• Speed: Transfers are often completed within a day, sometimes even faster.
• Convenience: The platform is user-friendly, with a mobile app that makes sending money on the go a breeze.

For parents and guardians looking for the most reliable way to support their student’s financial needs in Europe, Wise is a standout choice.

2. Revolut – Best for Student Accounts

Why It’s a Good Choice:
Revolut is increasingly popular among students in Europe due to its multi-currency accounts and fee-free spending abroad. If your student has a Revolut account, sending money to them is seamless and cost-effective.

Key Features:

• Multi-Currency Accounts: Allows your student to hold and exchange multiple currencies.
• Fee-Free Spending: No extra charges for spending in different currencies.
• Instant Transfers: Money sent between Revolut accounts is instant and free.

3. PayPal – Best for Small Transfers

Why It’s a Good Choice:
PayPal is a familiar and widely-used platform, particularly for smaller transfers. If your student needs quick access to a small amount of money for emergencies or daily expenses, PayPal offers a fast and convenient option.

Key Features:

• Instant Transfers: Money can be transferred almost instantly between PayPal accounts.
• Ease of Use: Many students already have PayPal accounts, making this a straightforward choice.
• Fees: While PayPal is quick, it does come with higher fees and less favorable exchange rates compared to Wise, especially for larger amounts.

4. Xoom (a PayPal Service) – Best for Cash Pickups

Why It’s a Good Choice:
Xoom, another service from PayPal, offers the ability to send money directly for cash pickups at numerous locations across Europe. This can be particularly useful if your student needs immediate access to funds and doesn’t have easy access to a bank account.

Key Features:

• Cash Pickups: Money can be picked up at designated locations, usually within minutes.
• Speed: Transfers are fast, often processed within minutes.
• Fees: Xoom’s fees can be higher than Wise, particularly for larger amounts, and the exchange rates aren’t as favorable.

5. Bank Transfers – Best for Large, Regular Payments

Why It’s a Good Choice:
Traditional bank transfers are still a viable option for sending large amounts of money, such as regular tuition payments. However, banks often have higher fees and less favorable exchange rates compared to digital services like Wise.

Key Features:

• Security: High level of security and protection, especially for large sums.
• Direct Transfers: Money goes straight into your student’s European bank account.
• Fees: Expect higher fees and lower exchange rates compared to Wise.

Tips for Sending Money to Students in Europe

• Compare Fees and Exchange Rates: Even small differences in exchange rates can add up, especially if you’re sending large amounts regularly.
• Consider the Transfer Speed: Emergency situations may require a faster service, even if it costs a bit more.
• Plan for Regular Payments: If you’re sending money regularly, look for a service that offers automated or scheduled transfers.

Frequently Asked Questions

1. What is the most cost-effective way to send money to students in Europe?

Answer: Wise is often considered the most cost-effective option due to its low fees and real exchange rates, ensuring that more of your money reaches the recipient.

2. How long does it take for money to be transferred to Europe?

Answer: Transfer times vary depending on the service. Wise typically completes transfers within 1-2 days, while PayPal and Xoom can offer almost instant transfers, albeit at higher fees.

3. Are there any hidden fees when sending money internationally?

Answer: Some services, like traditional banks, may have hidden fees in the form of exchange rate markups. Wise is known for its transparent pricing, with no hidden fees.

4. Can I automate regular payments for tuition or rent?

Answer: Yes, many services, including Wise, offer options to automate regular payments, making it easy to schedule tuition or rent payments in advance.

5. Is it safe to send money to Europe through online platforms?

Answer: Yes, platforms like Wise, PayPal, and Xoom use advanced security measures to protect your transactions. Always ensure you use reputable services with strong security protocols.

6. Which service is best for small, frequent transfers?

Answer: PayPal is convenient for small, frequent transfers due to its instant transfer capability and widespread use, although Wise may still offer better rates for repeated transfers.

7. How can I ensure my student receives the best exchange rate?

Answer: Using a service like Wise, which offers the mid-market exchange rate without hidden markups, ensures your student receives the best possible exchange rate.

8. What are the limits on how much I can send?

Answer: Limits vary by service. Wise allows for substantial transfer amounts, which is ideal for tuition payments, while services like PayPal may have lower limits for daily or monthly transfers.

9. Can my student pick up cash in Europe if they don’t have a bank account?

Answer: Yes, services like Xoom allow for cash pickups at designated locations across Europe, which can be a convenient option if your student doesn’t have a local bank account.

10. What documentation is needed to send money to Europe?

Answer: Generally, you’ll need to provide identification and the recipient’s banking details. Some services may also require additional information depending on the amount being transferred and the destination country.

Conclusion

Supporting your student financially while they study in Europe requires choosing a money transfer service that balances cost, speed, and reliability. Wise tops the list for its transparency, real exchange rates, and ease of use, making it the best overall option for sending money to Europe. Whether for large tuition payments or smaller everyday expenses, Wise ensures your student receives the most out of every dollar you send.

For more advice on studying abroad, including tips on navigating financial aspects, consider booking a free strategy session with Beyond the States. We’re here to help you and your student make the most of their international education experience.