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What is the best way to send money to Spain? has been advising buyers and sellers of Spanish property since 2002, we know how important getting the right currency company to help with transferring money to Spain is. In fact, poor planning and using a bank, for example, could result in losing thousands when transferring large amounts of works in partnership with foreign currency specialist Currencies Direct who help our users save money whilst safely sending money abroad when buying or selling a Spanish property or even making regular payments to or from SpainCurrencies Direct help our visitors with:
  • Bank-beating exchange rates
  • Friendly customer service
  • Simple process to move money abroad
  • Reputation is everything!

Why Currencies Direct?

  • Authorised by the UK Financial Conduct Authority
  • FX specialist with the highest possible Dun & Bradstreet credit rating, meaning the lowest possible level of risk.
  • They handled currency worth over £4.5 billion last year alone.
  • More than 210,000 people have trusted Currency Direct to manage their currency transfers since 1996.

For one reason or the other, you might need to transfer some or a lot of money to Spain many of our users are buying or selling property in Spain. The question then becomes, what is the most effective way to accomplish such a transfer with the least amount of hassle? Fortunately for you, there are a lot of options at your disposal and each option comes with its own unique string of benefits and demerits. This means after weighing your options and what you stand to gain from each one, picking the one that best suits your unique circumstance becomes completely doable.

How To Pay Money Into A Spanish Bank Account

If you would like to transfer money from abroad directly into a Spanish bank account, there are a few options that you can explore. But the most obvious option naturally would be for you to directly transfer the money from your foreign bank account to the recipient Spanish bank account.

Thanks to globalisation, banks all over the world can easily transfer money to any bank account in any country. But using a bank to perform an overseas money transfer can take a significant amount of time and is usually not very cost effective. If you would like to explore money transfer options that are more pocket-friendly as well as faster, you can always explore the option of specialised money transfer companies to fulfil your transfer.

How long does a bank transfer from Spain to UK take?

How long it takes for a bank transfer from Spain to UK to be completed is dependent on the particular bank you are using and the bank that is being transferred to. Depending on the bank, the entire process can take as long as four days or less.

But if you are using a reputable money transfer company, the process can take as little as a day as long as you are willing to pay a same day or next day delivery fee. If not, the process could take as long as three days

Instant money transfer to Spain

To accomplish an instant money transfer to Spain, you can use a reputable money transfer agency or a foreign exchange firm to complete the process. Some of such firms can perform a same day delivery money transfer on your behalf at no extra cost, while others will charge a fee for such a service.

Best way to transfer money to Spain

To transfer money to Spain, there are a variety of options available to you, but not all available options offer a good deal. The best deal on transferring money is one that offers convenience, cost-effectiveness, and speed of delivery. Thus, the best option will be one that offers the lowest cost on a transfer without compromising other benefits.

Some of your available options include;


Banks are a secure way to transfer money to Spain as you are guaranteed of service delivery. But using a bank for foreign transfers is typically expensive and often takes more time than other options to complete.

The money sending bureaux

Bureaux are another good option but like banks, they can be quite expensive and can also take a considerable amount of time to complete a transfer.

Foreign exchange companies

The best deals on a foreign transfer often come from reputable foreign exchange companies or money transfer companies like HiFX, Worldremit, Xendpay, TorFX Currency Transfer, World First, Virgin Money International Money Transfer, Transferwise, and so on. Such companies operate globally and often provide more flexible terms and conditions like lower transfer fees, competitive exchange rates, and quick transfers. These types of companies are able to deliver such a service because they specialise in sending money abroad and can thus access cheaper rates for international payments.

How to save money sending money to Spain

To discover the cheapest way to transfer money to Spain, you need to take the following into consideration;

·       Exchange rate: This will let you know how much you’ll get in euros in exchange for every pound or dollar or other currency you are sending in. For instance, an exchange rate of 1.5 will turn £1 into €1.50.

·       Transfer fee: This is how much it’ll cost you to complete a single financial transfer to Spain. The lower the transfer fees cost, the better for you. Thus, be sure to shop around as much as possible in order to discover who offers the best deal. Some agencies even charge no transfer fee whatsoever.

In order to determine which of your transfer options, be it bank, bureaux, or foreign exchange company is offering the best option, compare their charges and write down the cost of each. After that, include the transfer fees and use the resulting figure to determine which option offers the best deal.

Buying a Property in Spain Money Transfers

Buying a property in Spain we can help you save money sending money to Spain and transferring money abroad. If you own a property in Spain and pay bills in another currency we can also help you save money and securely transfer money at the best currency rates.

There are many foreign exchange agents worldwide, from Madrid to Sydney. All over the world, people make international transfers from their current locations to family and friends in other countries, or to fund large purchases or relocation, Unfortunately, currency rates from service providers are not always competitive, and in order to mitigate losses people have to be careful with their transactions.

The Currency Situation

Currency rates rise and fall every day. Since the global recession, economic conditions of many countries have been shaky and some are yet to fully recover. Before you conduct any large transfers, ensure that you have planned when you are going to do the transfer to Spain, and the service you are going to use to facilitate the process.

Sending Money to Spain

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If you are sending significant sums of money to Spain, it is necessary to time your transaction properly and deal with forex providers who will help increase the value of your deal by minimising losses that stem from exchange rates and onerous fees.

Understanding the Forex Costs when moving money to Spain

You should note that there are two main types of fees applicable when transacting business with foreign exchange companies.

Transaction Fees

This is a common fee that is usually made known to you by the agent before you complete a transaction. It may also be referred to as a ‘commission fee’. If you are dealing with a high street agent or a conventional retail bank, the fees are usually fixed depending on the total amount you are transferring. Hence the more you spend, the less the fees in relation. For many non-bank forex companies, if you are sending above a certain amount, there will be no charges.

Exchange Rate Mark-up

Be careful of making large money transfers labelled “free-of-charge”. This is because fees have been transferred into a significant margin on the currency exchange rates. As a result, it is necessary to understand the most important part of your international money transfer is how much the margin varies from the interbank exchange rates. The closer it is to interbank rates, the better.

Pro-tip: compare similar exchange rates offered between two trusted forex providers before transacting. You can also try to make a deal. You would be surprised what companies will allow to get your business.

Bank Transfers to Spain


Many people prefer high street bank transfers when they want to send money to Spain. Actually, this is a very expensive option. Banks often add between 3% and 5% margins, therefore £100,000 sent from London to Spain could cost someone up to £5000. So, it is necessary to make sure that your forex provider uses the best margins available. This is where non-bank forex companies are useful. 

Non-bank Forex Companies

There are a lot of non-bank foreign exchange agents in the market that can offer you deals with very competitive margins. These non-bank agents generally use margins lower than 1%, which is already 2% – 4% better than traditional bank rates.

They can give these rates because they conduct a lot of transactions and can afford cheaper margins and remain highly profitable. This is a far more suitable option for large financial transactions to Spain.

Foreign Currency Advice

More advice on sending money SpainWe work with Spanish real estate agents and homeowners helping them save money selling homes online. We also provide, tips, guides and advice about transferring money to and from Spain, Australia, France, India,South Africa, USA, Ireland and many other regions around the world

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