The new service will put pressure on reducing the cost of money transfer abroad

People living in Sweden send large sums of money to family and friends abroad. But it can be expensive. Fees and currency exchange costs differ between money transfer operators.

On average it costs about 15 percent (150 SEK) to send 1 000 SEK . In extreme cases the cost can be as high as 48 percent.

Therefore, the Swedish Consumer Agency has, at the Government's request, developed an independent price comparison service.

 - It is important that we can help consumers find information in this complex market. The service will make it easier for those who send money abroad. The goal is to ensure that as much money as possible reaches the receiver, says Gunnar Larsson, Director General of the Swedish Consumer Agency.