Compare Money Transfer in Latvia

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4 live offers compared from 4 providers, from €0. Updated daily.

What is money transfer in Latvia?

Money transfer services let people in Latvia send funds domestically or internationally, whether to family abroad, for business or between their own accounts. Within the euro area, SEPA transfers move money in euro quickly and cheaply, often instantly. For sending to non-euro countries, specialist providers convert currency and deliver funds to a bank account, card or cash pickup. Options range from traditional bank wires and cash-transfer agents to app-based fintech providers offering low-margin currency conversion.

How the Latvian market works

Domestic and euro-area transfers run on SEPA, so moving euro between accounts in Latvia and across the eurozone is fast and low-cost, with instant SEPA increasingly standard. For cross-border transfers to other currencies, fintechs compete hard on the exchange margin and transparent fees, while cash-transfer networks serve recipients without bank accounts. Latvian banks also offer international wires, though usually at higher cost. Providers must be licensed and apply anti-money-laundering checks in line with EU rules.

Benefits

Fast euro transfers — SEPA moves euro within Latvia and across the eurozone quickly, often instantly.

Low-margin currency exchange — Fintech providers convert non-euro currencies near the interbank rate.

Multiple delivery options — Send to a bank account, card or cash pickup depending on the recipient.

Transparent fees — App-based services show the exact cost and exchange rate before you send.

How to choose

For euro transfers within the eurozone, a standard SEPA payment from your bank is cheap and fast. For other currencies, compare the exchange margin plus fixed fee, since the margin often matters more than the headline fee. Check delivery speed, the payout method available to your recipient, and any sending limits. Confirm the provider is EU-licensed and how it safeguards funds. Compare the total the recipient receives, not just the fee you pay.

Leading providers in Latvia

Wise — Known for low-margin currency conversion at the mid-market rate and transparent fees.

Revolut — App-based multi-currency transfers and spending with in-app exchange.

Western Union — A global cash-transfer network with pickup locations worldwide.

Remitly — A remittance specialist focused on fast transfers to recipients abroad.

What it costs

SEPA euro transfers within Latvia and the eurozone are typically free or very low cost. For cross-border transfers to other currencies, the cost is the exchange margin plus a fixed fee, which fintech providers keep low, while cash-transfer networks and bank wires generally cost more. Some providers advertise fee-free transfers but earn on the exchange rate. Always compare the final amount the recipient gets to judge the true cost.

Protections and regulation

Payment and e-money providers serving Latvia are regulated under EU rules with oversight from Latvijas Banka, and must apply anti-money-laundering and know-your-customer checks. Customer funds at e-money institutions are safeguarded separately from company funds rather than covered by the deposit guarantee scheme. Transfers benefit from strong-customer-authentication requirements, and providers must disclose fees and exchange rates transparently.

Common questions

Is sending euro within the EU free? SEPA transfers are typically free or very cheap and often instant across the eurozone.

Which is cheapest for non-euro transfers? Fintech providers usually offer the lowest exchange margins; compare the amount received.

Are transfers protected? Providers are EU-regulated and safeguard funds, though e-money is not covered by the deposit guarantee.

Money Transfer in Latvia — FAQ