With my bank (N26, from Germany), I can send EUR just fine without any fee. I have no idea how this works for other banks as I’m not european nor live in Europe, but maybe you can somehow specify that you’re sending EUR and not GBP (which is what’s causing the expensive conversion)?
From the little I understood, the fees that ING would charge to me are:
- 30€ for the SWIFT payment alone. This British bank that Kraken uses to receive deposits does not accept SEPA payments, so ING would use SWIFT instead.
- 1.5% for conversion from EUR (my balance) to GBP (recipient bank's balance). The British bank has its account denominated in GDP, so currency conversion is done automatically upon depositing EUR.
The easy solution that I couldn't find earlier is to select a different beneficiary bank, in Liechtenstein, to send the EUR deposit to.