Sending money home from Lithuania
The cheapest way to send money home from Lithuania to countries like India, Pakistan, Nigeria or Bangladesh is almost always a fintech transfer service — Wise or Revolut — not a traditional bank. The trick is to compare the total cost (fee plus any hidden exchange-rate markup), because the headline fee rarely tells the whole story.
The two costs that matter
Every transfer has two costs, and the second one is the one people miss:
- The transfer fee — the visible charge, shown upfront.
- The exchange-rate markup — the gap between the real (mid-market) rate and the rate you're actually given. This is invisible unless you compare against the mid-market rate, and it's usually where the money goes.
Compare what arrives, not the fee
To check the real rate, look up the mid-market rate (for example on a currency converter) and compare it to the rate each app quotes you for the exact amount you want to send.
Wise — usually cheapest for non-EU corridors
Wise converts at the mid-market rate with no markup and charges a small, transparent percentage fee upfront. For corridors like EUR to INR, PKR, NGN or BDT it uses local payment rails (such as IMPS/UPI in India) rather than slow, expensive SWIFT, so transfers are cheap and often arrive within minutes to a few hours.
- Rate: real mid-market rate, no padding.
- Fee: a small percentage of the amount (varies by corridor and how you pay — paying by bank transfer is cheaper than by card).
- Speed: often minutes to same-day on popular corridors.
- Open with: just your passport — no Lithuanian personal code needed.
Revolut — great within your free limit
Revolut is excellent for daily spending and can match Wise on cost if you stay inside the free plan's limits. Things to watch:
- Monthly exchange limit: the free (Standard) plan includes a fee-free currency-exchange allowance of roughly €1,000 per month; above that a 1% fair-usage fee applies.
- Weekend markup: exchanges at weekends carry an extra markup (around 1%, more for less common currencies). Convert on a weekday to avoid it.
- Routing: for non-SEPA destinations Revolut may route via SWIFT, which can add a fee and slow things down compared with Wise's local rails.
So Revolut is often cheapest for smaller, weekday transfers within your monthly allowance, while Wise tends to win on larger amounts, weekends, or less common currencies.
Traditional banks — usually the most expensive
Sending an international (SWIFT) transfer from a traditional Lithuanian bank such as SEB, Swedbank or Luminor is typically the slowest and dearest route:
- A per-transfer SWIFT fee, sometimes plus charges from intermediary banks that quietly reduce the amount delivered.
- An exchange-rate markup on top.
- One to four working days to arrive.
Use a bank only if your destination corridor isn't supported by Wise or Revolut, or if you specifically need a bank-to-bank SWIFT trail.
Paysera and others
Paysera is a low-cost Lithuanian option for SEPA (euro) payments and supports some international transfers, though its currency coverage for South Asian and African corridors is narrower than Wise's. It can be worth a quick check in its calculator. Money-transfer comparison sites can also surface specialist operators for specific corridors — but verify fees on the operator's own site before you send.
Side-by-side
| Provider | Exchange rate | Typical fee | Speed | Best for |
|---|---|---|---|---|
| Wise | Mid-market, no markup | Small upfront % (lower if you pay by bank transfer) | Minutes to same-day | Most non-EU corridors; larger or weekend transfers |
| Revolut (free plan) | Mid-market on weekdays; ~1% weekend markup | Free within ~€1,000/mo, then 1% fair-usage fee | Minutes, but may use SWIFT for non-SEPA | Smaller weekday transfers within the limit |
| Traditional bank (SWIFT) | Markup added | Per-transfer fee + possible intermediary charges | 1–4 working days | Corridors fintechs don't cover; formal bank trail |
| Paysera | Mid-market-ish | Low per-transaction | Fast for SEPA | Euro/SEPA payments; check coverage for your country |
The exact winner changes every time
Limits and paperwork
- Amount limits. Each provider sets sending limits and may ask for proof of source of funds on larger transfers (a payslip, scholarship letter or bank statement). This is routine anti-money-laundering checking, not a problem — just have a document ready.
- Receiving-country rules. Some countries restrict how money is received (for example, Wise pays Nigeria out to a local bank account rather than holding a balance there). Check your home country's side too — your family may need a particular account type or ID.
- First transfer. New accounts sometimes have lower limits for the first transfer or two, which rise once your account is established.
A practical routine for students
- Open Wise and Revolut on arrival with your passport — you don't need a personal code or a local bank account to send money home.
- Before each transfer, enter the exact amount in both apps and compare what your recipient receives.
- Convert on weekdays to dodge Revolut's weekend markup, and fund transfers by bank transfer rather than card to keep Wise's fee low.
- Keep transfers within Revolut's free monthly exchange limit where possible; switch to Wise for larger amounts.
- Save your payslip or funding statement in case you're asked to prove the source of a larger transfer.
If you're also weighing up which account to open in the first place, see our guide to the best bank for international students.
Frequently asked
What is the cheapest way to send money home from Lithuania?+
For most non-EU corridors (India, Pakistan, Nigeria, Bangladesh) Wise is usually cheapest because it converts at the real mid-market rate and charges a small upfront percentage fee. Revolut's free plan can match it within your monthly exchange limit and outside weekends. Always run the exact amount through each provider's live calculator before you send — the winner changes by amount, currency and day.
Is the exchange rate or the fee more important?+
The exchange-rate markup usually costs you more than the visible fee. A transfer advertised as 'zero fee' can still be expensive if the provider has padded the rate. Compare the total amount your recipient actually receives, not the headline fee.
Can I send money home before I have a Lithuanian personal code (asmens kodas)?+
Yes. You can open Wise or Revolut with just your passport and fund the transfer from a card or your existing account, so you can send money before you have a personal code or a traditional Lithuanian bank account.
How fast does the money arrive?+
Wise and Revolut transfers to popular corridors often arrive within minutes to a few hours, sometimes the same day, because they use local payment rails. Traditional bank (SWIFT) transfers typically take one to four working days.
Are there limits on how much I can send?+
Each provider sets its own limits and may ask for proof of source of funds on larger transfers. Revolut's free plan also has a monthly fee-free exchange limit (around €1,000) after which a 1% fair-usage fee applies. Check the in-app limit before sending a large amount.