Send Money to Spain

Spain flag

When you wire money to spain through your local bank, a multitude of fees and an awful exchange rate ends up eating in your final amount sent. But it doesn’t need to be like this. This is what propelled us to create this page and teach other how to send money to Spain cheaply and explain how transferring money to Spain doesn’t need to cost an arm and a leg.

Learn how to get the most out of your Euros when sending money to Spain with this Spain Money Transfer Guide. It makes no difference if you want to transfer money to Spain or you are a Spanish resident who wants to send money abroad, our listed Foreign Exchange companies have your needs covered.

Best For Buying a Property Abroad:

currencies-direct logo

No fees EVER

No limit on the amount transferred

You will have a dedicated dealer

Easy transfers made online with the app

Office in Spain

Visit Curencies Direct For Quote
Best For Regular Money Transfers:

transferwise logo

Small transfer fee

Limited to $50,000 per personal transfer

Transfers made only online

Mobile apps for both Android and iOS

No office in Spain

Visit TransferWise  –  Free Quote

The Guide’s Topics:

Best Company To Transfer Money To Spain

Payment Facility



worldfirst-logoMin. Transfer: £ / € 1000.
Transfer: Online or by Phone.
Wire Fees: None.
Best Rates for £50,000+
Expected Rates* - £50,000+ :
- GBP: 1.1079 EUR to 1.1118 EUR
- CAD: 0.6409 EUR to 0.6431 EUR
- USD: 0.8312 EUR to 0.8342 EUR
WorldFirst Review
currencies-direct logoMin. Transfer: £ / € 100.
Transfer: Online or by Phone.
Wire Fees: None.

Expected Rates* - All Amounts :
- GBP: 1.0912 EUR to 1.1079 EUR
- CAD: 0.6312 EUR to 0.6409 EUR
- USD: 0.8187 EUR to 0.8312 EUR
CurrenciesDirect Review
transferwise logoMin. Transfer: £ / € 1.
Transfer: Online or using the App.
Wire Fees: Based on amount.
Best Rates for £100-5,000
Expected Rates* - Any Amount:
- GBP: 1.1079 EUR
- CAD: 0.6111 EUR
- USD: 0.8312 EUR
Transferwise Review
Spain Bank€40 International transfer Fee + Currency Exchange Fees. Double Or Triple the cost of Commercial FX.

Exchange rate would be approximately *:
- GBP: 1.0912 EUR to 1.1023 EUR
- CAD: 0.6312 EUR to 0.6377 EUR
- USD: 0.8187 EUR to 0.8271 EUR
paypal logo2.9%+ Transfer Fees, and 2.5% more for Currency Exchanges. Quick but expensive.

Exchange rate would be approximately *:
- GBP: 1.0856 EUR or worse
- CAD: 0.6312 EUR or worse
- USD: 0.8187 EUR or worse

* Expected Rates reflect our rate expectations based on our research. We do not guarantee accuracy. For some companies we used a range of rates because they offer wholesale rates for large trades and higher rates for small trades.

Supported Countries & Payment methods

MoneyCorp will provide a fee-free transfer money from Spain to UK, Canada, USA, Australia, Italy, France, Austria, Israel, Mexico or any of the many locations supported. Just fill the quote form on their website and you will be contacted by one of their specialists.

Currencies Direct is another company that will offer a zero-fee money transfer to one of their 100+ destinations. They work with more than 40 currencies, and because Euro is used by so many countries, you can understand that they have worldwide coverage.

They have an office in Mojácar, Spain, so if you want to talk with a representative on the phone or do an in-person talk, be sure to check their contact page for the complete address and office hours.

With a valuation of more than 1 billion dollars, TransferWise is one of the most used services for transferring money to Spain. Its low rates and transactional transparency makes it the go-to solution for thousands of clients each day.

Important: All three companies mentioned above provide a multi-language website and Spanish is one of their supported languages. So if you feel more comfortable using the website in Spanish, be sure to use this feature. This is especially for the Latino community in the US that want to transfer money from USA to Spain, Mexico or other Spanish speaking country.

Best Company to Transfer Money from Spain

Service Provider



currencies-direct logoMin. Transfer: € 100.
Transfer: Online or by Phone.
Why Them? Over 150,000 Active Clients.
£4.5Bn Transferred Annually. 18 Worldwide Offices.
CurrenciesDirect Review

Supported Regions & Currencies

Because Spain is part of the European Union, the money transfer business is regulated by the same laws as any other country involved in this group. And in contrast with the USA, the Euro using countries don’t have state by state or region by region regulations on this subject. If a company has an office or has the licensee to operate in a country, it can provide the service to the whole country.

Currencies: All of the companies previously recommended by us have access to a huge number of currencies with which they work every day. So you can easily transfer money to countries like Italy, Germany, the Netherlands, Switzerland, Austria, Hong Kong, France and Greece. But also remittances dependent countries that are popular in the immigrant communities in Spain like PortugalRomania, Morocco or Brazil.

A thing to remember is that the benefits with these companies are bigger as the transferred amount gets bigger. So if you plan to regularly send small amounts to other countries, we would recommend using TransferWise because they have fixed spreads. This means that they charge small and fixed fees when transferring money to Spain, no matter the amount.

Today’s Foreign Exchange Rates for EUR

GBP to EUR – Pounds to Euro; 10,000 GBP is 11,134.5000 EUR

EUR to GBP – Euro to Pounds; 10,000 EUR is 8,981.0948 GBP

EUR to CAD – Euro to Canadian Dollars; 10,000 EUR is 15,525.2593 CAD

CAD to EUR – Canadian Dollars to Euro; 10,000 CAD is 6,441.1162 EUR

AUD to EUR – Australian Dollar to Euro; 10,000 AUD is 6,141.7492 EUR

EUR to AUD – Euro to Australian Dollar; 10,000 EUR is 16,282.0064 AUD

EUR to USD – Euro to US Dollars; 10,000 EUR is 11,970.0930 USD

USD to EUR – US Dollars to Euro; 10,000 USD is 8,354.1540 EUR

EUR to CHF – Euro to Swiss Franc; 10,000 EUR is 10,841.7082 CHF

CHF to EUR – Swiss Francs to Euro; 10,000 CHF is 9,223.6388 EUR

NZD to EUR – New Zealand Dollar to Euro; 10,000 NZD is 5,876.1287 EUR

EUR to NZD – Euro to New Zealand Dollar; 10,000 EUR is 17,018.0071 NZD


Popular EUR Routes

Popular currency transfer routes for people visiting this page:

  1. Transfer money from UK to Spain (GBP to EUR)
  2. Send money to Spain from USA (USD to EUR)
  3. Transfer money from Canada to Spain (CAD to EUR)
  4. Transfer money from Australia to Spain (AUD to EUR)

Euro behaviour

euro-currency-3The ECB is one of the most independent global central banks which should preserve stability and a strong currency, but the bank finds it very difficult to reconcile internal stresses and divisions.

Price stability is the overriding policy objective for the European Central Bank (ECB).  If the central bank can maintain a united stance its mandate makes the bank one of the most independent global central banks which provides underlying currency backing.

Monetary policy is a very important determinant of the underlying Euro valuation.  There is a cyclical trend with the currency strengthening when the bank is in a tightening phase, weakening when interest rates are being cut.

The German economy tends to be the dominant influence within the overall Euro-zone. The country has an extremely powerful export base which provides underlying structural Euro support with a robust balance of payments position.

The currency will tend to weaken only when there are substantial net capital flows out of the Euro on yield grounds. These outflows tend to intensify when there is a positive trend in global risk appetite and optimism over high returns.

The ECB has been forced to deal with severe structural issues since the Euro’s 1999 launch. The lack of fiscal transfers increases the vulnerability of individual countries to recessions if monetary policy set by the central bank compromises economic and financial stability.

Why do people exchange their money into other currencies?

Historically, people have been able to see positive returns when they exchange their money into other currencies, and later convert into another currency, or back to their original currency. Timing and managing currency exchange fees is crucial. To get a better idea, we collected historical data on data for EUR, GBP, USD, CHF, and JPY rates.

EUR to GBP rates

EUR / GBP20122013201420152016201720182019

EUR to USD rates

EUR / USD20122013201420152016201720182019

EUR to CHF rates

EUR / CHF20122013201420152016201720182019

EUR to JPY rates

EUR / JPY20122013201420152016201720182019

Why Send Money To a Spain Bank Account

The national currency of Spain has been the Euro since 2002 when they replaced the Spanish peseta. The Euro is a much more transacted currency and is the second most used reserve currency in the world, after the US dollar.

Real Estate: The prices on Spain’s property market are, on average, 40% below the numbers we saw before the crisis in 2007, but the specialists predict a slow and steady recovery. So for those interested in investing in real estate, Spain and Italy are the go-to markets of 2015.

Tourism: Spain has always been one of the most visited countries in the world and ranked second, after France, in 2007. With over 60 million tourists almost every year, it is easy to see how big of impact tourism has in this country. It provides employment for millions of Spanish people and contributes a lot to the country’s GDP.

Why Send Money from Spain

Remittances: According to the Spanish government, in 2011, Spain had 12% of the population made of immigrants with Romanian, Moroccan, British, and Ecuadorian nationalities. That’s 5.7 million foreign residents that call Spain their home. Even though we don’t have updated statistics about the number of migrants, everybody is sure that this numbers have grown considerably with the latest waves of immigrants.

Many of them are coming to Spain in search of better work opportunities, and some of them will continue to stay forever. But most of them will likely go back home to their families at some point in time.

This vast population regularly sends money back home, and having a good money transfer company to work with means a lot for their peace of mind but, more importantly, for their wallet.

Currencies Direct is one of the few companies that actually have a local branch in Spain, and this means that you are taken care of by people who live, trade, and know the country’s bureaucracy and regulation.

Currencies Direct is authorized by the Bank of Spain to operate as a Foreign Branch of the European Community Electronic Money Institution with registration number 6711.

location pin

Avenida Mediterráneo 341
Mojácar (Almería)

Thinking Of Relocating To Spain?

If you consider moving into Spain and live there as an expat, you may find the following information helpful. Or you can check out our article about the Best Expat Destinations in Spain.

Advantages Of Moving To Spain:

  • Affordable Rents: Average rent is 500 EUR in major city centres.
  • Affordable Healthcare: Very modern hospitals and doctor’s offices that are 20% less expensive than the United States.
  • Easy to Relocate for EU/UK Citizens: Spain has an open door policy to the EU and UK residents.

Disadvantages Of Moving To Spain:

  • High Unemployment: 22.37% Unemployment Rate.
  • Low English Proficiency: Elderly generation speaks little or no English.
  • High Crime: Due to tensions from North Africa and refugees, there has been an increase in crime.

Popular Destinations in Spain

Popular cities for business and real estate transactions in Spain are: Madrid, Barcelona, Valencia, Seville, Zaragoza, Malaga, Murcia, Palma de Mallorca, Las Palmas de Gran Canaria and Bilbao.

How expensive are Spanish banks?

During a recent trip to the Mayan Riviera, you happened upon the perfect condo – steps to the beach and breathtaking views, all for an unbeatable price. To buy it, though, you need to send a down payment of 250,000 MXN.

If you do it through your bank (BBVA), you’ll pay a rate of 20.8505 (as of 8:04 pm GMT, April 1). To complete the transaction, you’ll have to send 11,990 EUR. However, if you make use of an online money transfer company, you’ll pay an average exchange rate of 21.8047. This price means you’ll only have to send 11,465 EUR. With 500 EUR extra, you’ll have plenty to spend on the bits and bobs you’ll need when you move in.

How The Money Transfer Works

FX companies are in the business of trading foreign currencies. As such, they know all the tricks of the trade to ensure that they earn the highest return whenever they send money to Spain.

It is this that allows these companies to offer their customers low or no-fee transfers when they need to transfer money to Spain and, because many FX companies deal primarily online or by phone, it enables their customers to do the same.

What you need to send money to Spain

  • Account Holder’s Full Name;
  • IBAN;
  • Swift Code;
  • Your identity card.

After you provide all the details listed above, the process is simple:

  • You create a free account with the company.
  • Receive a quote from one of the dealers – be it online or by the phone.
  • Send the money to your account so you can fund the transfer.
  • Get a confirmation from the company (usually the same dealer that gave you the quote) that the transaction is completed.

Our Company Recommendation:

Regulations and taxes when transferring money to and from Spain

Spain has no regulations or currency controls, as a member of the single currency Eurozone. Transferring money in and out of Spain is not restricted for non-residents and residents alike, despite being hit hard by the 2008 Eurozone crisis.

The Eurozone’s single payments system for all member states, as well as Iceland Liechtenstein and Norway, has simplified money transfers.

Banco de España

Banco de España (the central bank of Spain) oversees payment systems to ensure the stability of their financial sector.

The European Central Bank (ECB) sets the single monetary policy.

Transfer regulations

Foreign Direct Investments (FDI) in Spain do not require government approval, unless they exceed EUR3 million, or originate from a tax haven.

Transfers over EUR10,000 must be declared to European Union authorities.

Taxation on foreign income

Spanish residents are taxed on any foreign income. Non-residents are taxed on any income originating in Spain. Double tax treaties are in place to avoid double-taxation.

Biggest banks in Spain

  • CaixaBank
  • Banca March
  • Bankia
  • ING Direct
  • BBVA
  • Banco Popular Español

Prepping For A Move To Spain?

In love with tapas and cerveza? Liking good weather all year round? Than maybe Spain is indeed your ideal destination.

If you want to blend in with the locals, knowing the language is not the only problem. You need to understand the culture and to know the places. And that’s the reason for which we created the article with Best Spain Expat Blogs, a post full of tips from some of the best expat bloggers currently living in Spain. To check it out and read more, click the image below:

Spain badge 300If you are still here, still reading this article, it means that you are now ready to change the way you send money to Spain. Forget about the banks that charge outrageous fees every time you need to make a wire transfer to Spain or send money from Spain abroad – you can do better. By using the FX companies we have listed in this guide you will get zero fee transfers, great currency exchange rates and all of this with the same day delivery.