Panda Remit vs. Revolut for SEK to EUR: The Definitive Fee & Rate Guide for International Payroll

For businesses based in Sweden, managing a distributed workforce often means navigating the complexities of International payroll. Whether you are paying contractors in Germany, remote employees in France, or suppliers across the Eurozone, the conversion from SEK to EUR is a critical financial touchpoint. It is not merely about moving funds; it is about ensuring that the value of salaries remains intact despite market fluctuations.

Choosing the right financial partner is essential. A poor exchange rate or unexpected hidden fees can significantly inflate your overhead costs or, worse, result in your employees receiving less than they were promised. In the digital age, traditional banks are no longer the only option. Fintech solutions like Revolut and specialized remittance platforms like Panda Remit have emerged as powerful tools for modern business.

This guide analyzes the landscape of sending money for payroll purposes, specifically comparing the popular banking alternative Revolut against the specialized transfer capabilities of Panda Remit.

Comparison: Panda Remit vs. Revolut for SEK to EUR

When evaluating services for International payroll, the two main contenders often represent two different approaches to finance. Revolut acts as a comprehensive digital banking alternative, offering multi-currency accounts and cards. In contrast, Panda Remit focuses heavily on the remittance aspect—moving money from point A to point B as efficiently and cheaply as possible.

For the SEK to EUR corridor, both providers offer distinct advantages over traditional Swedish banks (like Swedbank or SEB), which often charge high wire fees and apply hefty markups to the exchange rate. However, the cost structure differs significantly between a neobank and a remittance specialist.

Below is a comparison of how these two entities stack up when you need to execute payroll transfers.

While Revolut is excellent for holding multiple currencies, businesses on the free or lower-tier plans may face limits on the amount they can exchange per month without fees. For payroll, which often involves larger sums, these limits can be restrictive. Panda Remit, conversely, is designed to handle transfers without requiring a subscription model, often making it a more direct solution for sending salaries.

The “Golden Trio” for Sending International Payroll

When selecting a method to handle your SEK to EUR obligations, you should look beyond just the brand name. Experts in global finance often refer to the “Golden Trio” of transfer requirements: Speed, Cost Certainty, and Ease of Access.

1. Speed and Reliability

Payroll is time-sensitive. Unlike a personal gift, a salary cannot be late. The best way to send money for International payroll is through a channel that guarantees delivery times. Digital platforms generally process SEK to EUR transfers via SEPA (Single Euro Payments Area) networks once the conversion is done, ensuring the funds arrive within hours or by the next business day.

2. Amount Certainty (The "Landing" Amount)

When you send 25,000 SEK to an employee in Spain, you need to know exactly how many Euros will land in their account. Fluctuating rates and hidden intermediary fees can cause the final amount to vary. Services that lock in the rate at the moment of transfer provide the certainty required for professional accounting.

3. Ease of Use and Compliance

Finally, the platform must be easy to use. Complex banking interfaces with card readers and dongles are becoming obsolete. Modern platforms allow you to set up recipients and repeat transfers with a few clicks, streamlining the monthly administrative burden.

Panda Remit: A Remittance Platform Tailored for International Payroll

While Revolut offers a robust ecosystem for day-to-day banking, Panda Remit is particularly suitable for the specific act of remittance. For a business focused on International payroll, the priority is often reducing the "friction" of the transfer—specifically the cost friction.

Panda Remit generally operates with a digital-first, low-overhead model. By not maintaining physical branches or offering complex credit products, they can pass savings directly to the user in the form of tighter exchange spreads. For the SEK to EUR route, this often means that for every Krona sent, your employee receives a slightly higher amount of Euros compared to services that have higher operational costs.

Furthermore, Panda Remit’s interface is designed for speed. Once a beneficiary is added—such as a remote contractor—repeating that payment monthly takes seconds. Unlike broad financial apps that try to do everything (crypto, stocks, savings), a dedicated remittance tool keeps the focus strictly on moving funds efficiently.

Common Questions on Global Payroll Transfers

To ensure you have all the information needed to make an informed decision, here are the answers to the most pressing questions regarding this corridor.

How do I complete a transfer from SEK to EUR for International payroll?

To complete a transfer, you first need to register with a digital provider like Panda Remit. You will need to verify your business identity (KYC). Once verified, you input the amount of SEK you wish to send. The system will show you the exact EUR amount your employee will receive. You then fund the transfer using a local Swedish bank transfer or debit card. The provider converts the funds and pays out to the recipient's Euro bank account via SEPA.

What’s the best way to send money for International payroll?

The best way is to use a specialized non-bank transfer service. Traditional banks often charge a "telegraphic transfer" fee and offer poor exchange rates. Using a specialized fintech provider ensures faster delivery speeds and better exchange rates, which saves the business money in the long run.

How can I get a good exchange rate for SEK to EUR?

To get a good rate, compare the "mid-market rate" (the rate you see on Google) with the rate offered by your provider. The closer the offered rate is to the mid-market rate, the better the deal. Avoid services that claim "zero fees" but hide their profit in a poor exchange rate. Transparent providers will show you the fee and the rate separately.

Final Thoughts: A Smarter Way to Send Money for International Payroll

Managing a global team is a sign of business growth, but it shouldn't come with growing administrative pains. Whether you are comparing giants like Wise and Western Union, or looking at the specific battle between Panda Remit and Revolut, the goal remains the same: value retention.

For the SEK to EUR corridor, moving away from traditional banking is the first step toward efficiency. While Revolut offers a great all-in-one financial app, Panda Remit stands out for its laser focus on cost-effective transfers. By prioritizing low fees and high transfer speeds, you ensure your International payroll is handled professionally, keeping your workforce happy and your bottom line healthy.

If you are ready to streamline your monthly payments, consider testing Panda Remit for your next payroll cycle to see the difference in rates firsthand.