When sending money abroad, whether paying for accommodation, goods, services, or sending money to family, one of the most important questions is: what is the most favorable and secure way to transfer money? With the introduction of new banking systems such as the SEPA transfer in Serbia (May 2026), costs have significantly changed - for the better for our citizens and companies making payments to foreign accounts.

Updated for the 2026 season: Discover how to take advantage of the new SEPA system and make payments with minimal commission.

Commissions, transfer speed, and ease of use vary depending on the payment method. Keep in mind that the recipient may not always have the ability to receive payment through every service or payment method.

Therefore, before making a payment, make sure to check which payment method is acceptable for the specific transaction.

In this guide, we compare all available options - from modern applications to traditional transfers and recommend the best and most cost-effective way for international payments.

Quick Guide to Sending Money (Payments) Abroad

1. Through a foreign currency account with SEPA transfer - Recommended option (Serbia is now part of the system!)

Serbia has joined the SEPA (Single Euro Payments Area) system, which means that payments to Greece and the rest of Europe are now simple, fast, and most cost-effective (in terms of bank commissions). You need to have a foreign currency account because the payment is made exclusively in EUR.

What you get:

• Lowest commission: around 5 EUR if paying online, through the bank’s app. If paying at the bank counter, the commission is higher (up to 2000 RSD - depending on the bank).
• Speed: The money reaches the recipient’s account (owner, seller, etc.) the same or the next working day. You don’t have to worry about reservations, different types of payments, or purchases because the money arrives on time.

How to pay?

In the app, enter the recipient’s IBAN, SWIFT/BIC code of their bank, name and surname of the recipient, make sure to mark the SHA payment model, and the currency EUR.

• In some banks, during the payment, the app will automatically select the SEPA transfer, while in others, you may need to select it manually. Pay attention during data entry.

And that’s it.

• The money is sent, you immediately receive confirmation of the payment which you can send to the recipient as proof of payment.

What you need:

• Foreign currency account: You must have an open foreign currency account in euros in your bank. If you don’t have one, opening one is quick, easy, and usually free.
• Mobile application: You need to have activated mobile or internet banking with your bank.

Why do we recommend SEPA payment as the best way to transfer money to a foreign account?

While earlier, the commissions for sending money abroad often amounted to 20, 40, or more euros, the SEPA transfer has significantly reduced that cost. In many banks, a payment through the app costs around 5 euros, so the difference in commission can be enough for a lunch, coffee, or refreshment. That’s why we recommend SEPA payment through the app as the simplest and most cost-effective way of payment, when available.

• Click here for DETAILED INSTRUCTIONS (step by step)

Paysend and Wise

Wise and Paysend are online services for fast money transfer directly to the recipient’s account. While Serbia was not part of the SEPA system, Wise and Paysend were often a more favorable option than the traditional bank SWIFT transfer or Western Union. However, since SEPA payment is available from Serbia, a payment through the bank’s app with SEPA transfer is usually a more cost-effective and predictable option. Therefore, we now recommend Wise and Paysend only as an additional option, in case you cannot make a SEPA payment through your bank for some reason.

When to choose Paysend or Wise?

If you do not have a foreign currency account and do not want to open one, you can pay a deposit, service, goods, or other transaction directly from your dinar card through Paysend and Wise, without going to an exchange office or bank.

• Paysend is often more cost-effective than Wise, but with both services, before making a payment, check the total cost of the transfer, as the commission may depend on the amount, card, and country you are paying from.

Important note:

• Although the basic commission is low (e.g., 1.5€), these services earn on the exchange rate difference. If you pay in dinars, the final amount debited from your account will be slightly higher than the rate you would get at an exchange office.

Here’s how to send money through Paysend

• Payment is possible with a Visa and Mastercard from any bank except AIK and Dina cards (for Serbia).
• Unfortunately, payments from Bosnia and Herzegovina are not yet available.
• Download the app and register.
• Then enter the recipient’s details (similar to our banks now):
• IBAN and name and surname of the account owner, or company name.
• Choose SEPA as the transfer method and EUR as the currency.

You will receive a transaction confirmation that you need to send to the recipient (agency, seller, etc.).

• Find a detailed step-by-step guide here.

Wise (formerly TransferWise)

Wise is a global financial institution that transfers money in over 40 currencies and to more than 160 countries worldwide. The reliability of this system is evidenced by the fact that many major world banks use (or “lease”) their technology within their systems. However, this system is not the most cost-effective in terms of commissions. Important for registration: For security reasons, they may sometimes require identity verification. This involves taking a photo of your valid passport or ID card and doing a short “selfie”. This process usually takes a few minutes, but it is best to do it before starting the actual payment (fund transfer) to save time. Payment process: The money transfer itself is simple and similar to other apps:

• Check out a detailed step-by-step guide here.

Email note: Wise offers the option to send money using only the recipient’s email address, but we do not recommend this at all. Recipients of funds, whether accommodation owners, sellers, or others, often do not recognize or consider such emails as scams, which can lead to delays in response or situations where you do not receive a reply. Therefore, we recommend always using direct entry of the IBAN.

Traditional and Other Payment Methods

If you do not use mobile banking or apps, you still have access to traditional money transfer systems. Keep in mind that these methods have higher commissions.

Western Union, MoneyGram, and Ria

These are similar systems that are ideal if you are not tech-savvy or if neither you nor the recipient have a bank account. Where to pay:

• You can make payments at almost any post office, exchange office, or bank, exclusively in the equivalent in dinars.

Without an account:

• To send money, you only need an ID card and the recipient’s details.

Important - caution during entry:

• Officials must enter the recipient’s details absolutely accurately. Even one letter mistake or switching names can prevent the recipient from withdrawing the money.

Final (mandatory) step:

• After the payment, you will receive a control number (MTCN code for Western Union or an eight-digit code for MoneyGram). This is the number that connects you and the recipient.
• You must send the control number to the recipient for them to collect the funds. It’s best to take a photo of the entire paper (receipt) and send it to the recipient. The recipient needs to know the control number, the country from which the payment was sent, and the transfer amount.

IMPORTANT:

MoneyGram and Ria services do not exist in all locations. In Halkidiki, for example, these services are not available to most accommodation owners and hotels. So despite the lower commission, ALWAYS check with the recipient (accommodation owner, seller, etc.) before payment that they accept this payment method.

Commissions:

Keep in mind that the payment is made in dinars at the rate of these services, which may be slightly higher than the rate at exchange offices.

• Western Union: Commissions for sending money range from 800 RSD to 3,300 RSD or more, depending on the amount. Step-by-step instructions and price list can be found here.
• MoneyGram: There is no fixed online price list; the commission amount depends on the country and the amount, so be sure to inquire at the counter before sending. An example of a fee from the Serbian Post website is: for payments up to 32,000 RSD, the fee is 1,900 RSD. Step-by-step guide for MoneyGram is available here.
• RIA is known for being slightly more cost-effective than Western Union. Commissions are divided into “steps” (tariffs): up to 100 €, the commission is around 5 €, from 100 to 200 €, the commission is 9-12 €, and from 200 to 500 €, the commission is 15 to 20 €.

PayPal

PayPal is a global online payment service. It is not among the most cost-effective methods, and commissions range from 3.5 to 5%. To send money this way, both you and the recipient must have a PayPal account, and you send money using only the recipient’s email address. For PayPal, you need to have a Visa card (supporting online payments) linked to your account.

Important note:

• Do not make a payment through this service unless confirmed by the recipient (agency, accommodation owner, seller, etc.) that they have a PayPal account. If you send money to an email that does not have an active account, it is very difficult to withdraw the money.

How to send money (briefly):

Sending money through PayPal is quite simple.

• After logging into your account, press SEND, then enter the recipient’s email address (make sure it is correct and linked to an active account).
• Then enter the amount and the currency you are paying in (for Europe - EUR).
• Then choose the payment purpose and select “Paying for an item or service”.
• Check the calculated exchange rate and click on Send Payment Now.

Exchange rate tip: When sending EUR, set the payment to be made directly in EUR to avoid additional currency conversions and often unfavorable rates compared to exchange offices.

• Important: check all details before sending because it is not possible to correct or cancel the transaction after sending.
• For more information on PayPal deposit payments, click here.

Livepay.gr (only if the owner sends you a link)

Livepay.gr (Worldline Greece) is an online payment platform and another way to send money or pay for services and goods directly, without going to a bank. You can make payments if you have a credit, debit, or prepaid Visa or Mastercard issued by any bank. How the payment works:

• Direct link: You receive a payment link that will take you directly to the recipient’s page on the Livepay portal.
• Entering data: Fill in the amount and your card details (Visa, Master). The transaction is processed in real-time.
• Confirmation: Once you complete the payment, the system will show you a confirmation. Make sure to save it (as a screenshot or PDF) and send it to the recipient as proof of payment.

ADVICE Always check with the money recipient (whether it’s an agency, accommodation owner, or goods seller and service provider) which options - payment methods they accept, but if you have a choice, direct payment through a foreign currency account and the SEPA system is the absolute winner in terms of savings, simplicity, and security.