Send money to Sweden from Canada
What reaches Sweden on this route is euro, not krona. Grey converts your balance once into euro and delivers it by SEPA to the recipient's Swedish IBAN at Handelsbanken, Swedbank, SEB Sweden or another Swedish institution. Transfers from a funded balance typically arrive within minutes, and the rate and fee are on screen before you confirm.
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A euro credit into a krona country
Sweden keeps its own currency, and Grey does not convert into it. The account in Stockholm, Gothenburg, Malmo or Uppsala receives euro through SEPA. What happens next is the recipient's decision and their bank's transaction: keep the euro, or let the bank turn it into krona at whatever rate it applies that day.
So this route suits some people and is the wrong shape for others, and it is better to establish which before the first payment rather than after it. It works cleanly for a consultant in Stockholm who already invoices European clients in euro, for a Canadian on a posting who keeps a euro account alongside the Swedish one, and for anyone whose costs are quoted in euro to begin with. It works less well for a household that has no use for euro and will convert every single credit.
Worth knowing too: Swish, the transfer app that everyone in Sweden uses without thinking, stops at the Swedish border in exactly the way Interac e-Transfer stops at ours. Neither side of this corridor has a domestic tool that reaches the other.
Sending to a Swedish IBAN in three steps
Sign up
Open a free Grey account from your phone in about five minutes, verifying with one valid identity document. Nothing is posted and no branch visit is involved.
Fund
The balance sits in US dollars, provided by Lead Bank, in pounds or in euro. It is funded by a client, an employer or a transfer you make yourself.
Send
Enter the Swedish IBAN and confirm. The euro figure, the rate and the fee are shown together, and a transfer from a funded balance typically arrives within minutes.
The cost, and the second cost that is not Grey's
There is a second cost, and it belongs to your recipient. If they want krona in the end, their own bank performs that conversion on its own terms. Grey sets no part of that rate and cannot show it to you in advance.
Which means the route is at its cheapest where the euro is left as euro. One conversion in total, done by you, at a rate you read first. Anyone converting on arrival pays twice, so it is worth one conversation with the person in Sweden before you set up a payment that repeats every month.
How the euro rate is fixed at confirmation
The rate on your confirmation screen is the one applied to the transfer. It does not shift while the payment is in flight between Winnipeg and Gothenburg, and it is not revisited after settlement.
That fixes the euro amount, which is the part you control. The krona amount, if krona is what the recipient ends up with, depends on their bank's rate on the day it converts, so quote the euro figure when you tell them what is coming.
What a Canadian bank would do with this transfer
A wire to Sweden from TD Canada Trust, RBC, Scotiabank or National Bank of Canada goes through the correspondent network, charges the same fee whatever the amount, and applies an exchange rate the bank does not put in front of you beforehand. It also converts into krona on its own terms, which is a conversion you never see priced. Grey does something narrower and states it plainly: one conversion into euro at a rate you read first, then a SEPA credit into the Swedish IBAN, with any krona step left to the recipient's own bank where at least they can see it happen.
What the recipient in Sweden sees
A euro credit arriving through SEPA into their Swedish banking app. There is nothing to collect, no form to complete and no Grey account needed on that side.
Swedish bank accounts
Handelsbanken, Swedbank and SEB Sweden all take the credit on an IBAN, which is the only detail you need to ask for.
Euro, then their choice
Leaving the euro as euro costs nothing further. Turning it into krona is their bank's transaction at their bank's rate, and is worth agreeing between you in advance.
GreyTag
If the person in Sweden also uses Grey, GreyTag moves the money free and instantly, and no IBAN changes hands at all.
Funding the balance the euro leaves from
Nothing here moves Canadian dollars into Grey. The balance is funded in the currency the money arrives in, and sits there until you need euro in Sweden.
Paid by a client
Canadian contractors and consultants can be paid directly into their Grey account details, which removes a domestic step before the payout goes out.
Paid by an employer
If a company outside Canada pays you, the salary can land in your balance in that currency, and the conversion into euro waits until you send.
Moved in by you
Transfer money in from an account you already hold in another currency, at a moment of your choosing rather than one set by a due date.
However it gets there, the rate and the fee for the euro payout appear at confirmation, so a balance funded weeks earlier still shows you the current numbers on the day you send.
What people send between Canada and Sweden for
Invoices in euro
A Swedish consultant, studio or agency that already bills international clients in euro and is happy to receive euro into their Swedish account.
Working in Sweden on outside income
Canadians on a posting or a research contract in Stockholm or Lund, keeping a euro account alongside their krona one and topping it up from abroad.
Study and exchange terms
Parents in Ontario, Alberta or British Columbia covering costs for a student on an exchange year, where the account receiving is happy to hold euro.
Family who kept a euro account
Swedish Canadian families sending to a relative who holds euro alongside krona, which avoids paying for the conversion twice over.
The Canada to Sweden route is more professional than familial, and the four cases below cover most of it.
What this route does and does not do
A Grey account is free, opens in about five minutes and needs one valid identity document.
Before the first transfer, check with the person in Sweden that a euro credit suits them. If it does, this is a single conversion end to end. If it does not, that is worth knowing now rather than after a standing payment has run for a year.
FAQs
Does Grey pay out in Swedish krona?
No. Grey converts into euro and delivers a euro credit by SEPA to the Swedish IBAN. Any krona conversion is the recipient's bank's own transaction.
Which Swedish banks accept a euro credit from Grey?
Handelsbanken, Swedbank and SEB Sweden all take the credit on an IBAN, as do other Swedish institutions that hold a euro-capable account.
Will my recipient in Stockholm be charged to convert into krona?
That depends on their bank, not on Grey. Their bank sets the rate and any charge for turning the euro into krona.
Can I use Swish to send money from Canada to Sweden?
No. Swish only works between Swedish accounts, in the same way Interac e-Transfer stops at the Canadian border.
How long does a SEPA euro credit to a Swedish account take?
From a funded Grey balance, transfers to Swedish accounts typically arrive within minutes. The rate is fixed at the moment you confirm.
Is this route worth using if my recipient has no euro account?
Often not. They would convert every credit into krona themselves, paying a second conversion you cannot see or price beforehand.
Can I send Canadian dollars to a Swedish IBAN?
No. Grey holds US dollars, provided by Lead Bank, pounds and euro. One of those converts into the euro that reaches Sweden.
What do I need from the person in Sweden?
Their Swedish IBAN and confirmation that the account can receive euro. Nothing else, and they never open a Grey account.
Do I see the euro amount before the transfer leaves?
Yes. The rate, the fee and the euro figure that will reach the Swedish account are all shown before you confirm.
Why does a Swedish company invoice me in euro?
Many Swedish consultancies and studios bill international clients in euro already, which makes this route a single conversion for both sides.
Is a euro credit treated as an ordinary payment by Swedish banks?
Yes. It arrives through SEPA and appears in the banking app as a normal incoming credit, with nothing to collect in person.
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