a man transfering money to Spain, holding a cup and looking at a laptop

As an Expat, you will need to transfer money to Spain, and there is some really great news in this area. In the past, there were limited options, and most were difficult and expensive, but that has changed. In 2025 there are safe, cheap, and fast options for both large and small international money transfers to Spain. Picking the right service to send money to Spain from the UK or the US will save you a fortune.

Less than โ‚ฌ50,000 >> Our 4 Best Ways To Send Money To (and from) Spain

How we know: We have investments in Australia, a business in the UK, and friends and family worldwide. We have first or second-hand knowledge of every recommendation on this list in the decase we’ve lived in Spain. We’ve tried many of these services and have friends who have used the others and given us feedback.

All the money transfer services on this list are excellent when used in the right situation. Used correctly, all are fast, cheap, safe, and secure. You’ll need to pick the perfect partner for your requirements.

All recommendations are based on our personal experience, research, and feedback from other Expats. Disclosure: We do get a small commission if you set up an account with Wise or XE at no extra cost to you.

READ ALSO: 8 Best Banks in Spain for Expats

1) Wise

  • Cheapโœ… Fastโœ… Secureโœ… Other Banking Featuresโœ… Good for transfers > โ‚ฌ50,000โŒ

Wise (formally TransferWise) is the big daddy of international money transfers under โ‚ฌ50,000. We use Wise for most of our small personal and professional transfers. There are two ways you can use Wise.

  1. Wise Transfer Service. You’ll set up an account with Wise, and then you can use the website or app to book transfers to foreign bank accounts.
  2. WiseA Wise multi-currency online account. You can open a Wise account (with a debit card). This account has virtual sub-accounts with different currencies, which you can use to spend in the respective countries.

Both the app and the website are super easy to use and seriously fast. Sending money online from Australia (AUD) to Spain (EUR) is pretty much instant.

Their fees and rates are easy to see and compare. And they consistently are as good as anyone else. I like the “You’ll Receive” function on the calculatorโ€”it is transparent and clear. Our US friends also use Wise to send money from the United States to Spain.

Wise covers most major currencies, including the USA, UK, EURO, Switzerland, Canada, Australia, Poland, Singapore, Turkey, Romania, and many more. You can send and receive 50 currencies in total.

Warning: We’ve had reports of occasional issues with Wise holding up or canceling one-off large transfers (โ‚ฌ50,000 plus). Wise takes money-laundering regulations seriously (rightly so!), but this means perfectly legitimate transfers can get caught up. This can be disastrous if you have a time-sensitive transaction like a house purchase contract.

2) XE Money Transfer

  • Cheapโœ… Fastโœ… Secureโœ… >> Other Banking FeaturesโŒ Good for transfers > โ‚ฌ50,000โŒ

XE is a dedicated Forex tool. The company specializes in international al money transfers and offers outstanding value and ease of use. If you are looking for a great way to make smaller value transfers (under โ‚ฌ50,000), these guys are great, and we consistently get good feedback. Their focus on just FX means they are very good at their core business. XE allows transfers to and from 200+ countries.

Once you create an account (a simple process with a clean interface and easy steps), you can see exchange rates, fees, and amounts. I love the transparency and ease of use.

3) Revolut or N26

  • Cheapโœ… Fastโœ… Secureโœ… Other Banking Featuresโœ… Good for transfers > โ‚ฌ50,000โŒ

Revolute and N26 are the most popular online banks/neo-banks/fintech companies. Their rates and fees are competitive, and both apps are easy to use. You’ll do everything online without ever needing to visit a branch. N26 ranks #1 and Revolut #2 for our Best Banks in Spain for Expats.

If you have an account with one of these institutions, then moving money across international borders can be super simple.

4) PayPal

  • You have regular income and outgoings in multiple currenciesโœ…

We use PayPal, which allows you to hold balances in different major currencies. You can use your balances to transfer money to other PayPal accounts or to pay for things online in the same currency. So we get paid in dollars, pounds, rands, and euros and have outgoings in those currencies without paying exchange rates. However, PayPal exchange rates can be abysmal if you convert currencies, so use one of the options above for direct FX conversions!

We use PayPal regularly for these services (mainly for business transactions) but do not do any currency exchanges.

The Best Way To Send Large Transfers >> โ‚ฌ50,000 or More

Large transfers carry more risk, and we recommend using a dedicated personal FX broker for them. You may be buying a house or investing in a business, and these transactions have specific needs.

  • Cheap โœ… Fast โœ… Secure โœ… Advanced features for transfers โœ… Personal service โœ…

5 Reasons Why You Should Use A Personal FX Broker.

  1. They specialize in large international transactions, understand the process, and know how to manage the risks.
  2. You can use tools like market orders, stop losses, and spot and forward contracts to hedge against exchange rate movements and ensure that your planned and actual funding requirements are aligned.
  3. You can book transfers at guaranteed times to meet legal contract requirements.
  4. You have instant phone access to your broker, who manages your transfer and the transaction’s outcome. If anything goes wrong, you have a dedicated team to help you out immediately.
  5. They offer much better rates and fees than a high-street bank.

Here’s an example of the impact of exchange rate movements on a USD$500,000 transfer to Euros for a house purchase in Spain. The use of a forward contract would have saved up to โ‚ฌ75,695 over this period.

USD to EUR exchange rate movements over 12 months show a โ‚ฌ75,695 possible savings on transferring money to Spain using a forward contract through a personal FX broker.
The exchange rate changes over 12 months on a $500,000 money transfer to Spain from the US.

Why Not Use A Personal FX Broker For All Your FX transfers?

Some people use their personal FX broker for even small transactions. However, we find that using services like our recommendations above is quick and easy and great for small transfers. If I am sending money to a friend or moving a couple of grand from Australia to Spain, there is no risk, and the consequences of a transfer being delayed or held by the transfer service are small.

Looking for an FX Broker ?

Dean offers a safe, secure, and cost-effective foreign exchange service, delivering personalized and tailored support to our clients. He will step you through your international transfer, ensuring transparency and security from start to finish.

Other Online Money Transfer Services

OFX has zero transfer fees, but its exchange rates are sometimes worse than Wise or XE.

Remitly Remitly has a couple of useful functions. You can send money to be collected as cash from designated pickup points (more than 150,000 worldwide). Western Union is another good provider of this type of service.

Cryptocurrency – We used to use and recommend Crypto exchanges for international money transfers, but we do neither anymore. Increased regulation, the variety of crypto asset products, and better options mean this should be a last resort and left to crypto experts only.

Don’t Do This When You Transfer Money To Spain!

We warn against using a main street US, UK, or Spanish bank to transfer money internationally. Fees are often high (and hidden!), exchange rates are poor, and transfers usually take longer to arrive than using the options above.

How to Transfer Money To Spain From The US

We’ve spoken to many US Expats living in Spain, and most use a 3rd party to transfer money to Spain (rather than a US or Spanish bank transfer.)

Wise is the most recommended way to transfer money from the United States to Spain, with XE also popular with some people. Many people use Revolut to move US dollars to Euros in Spain.

Note: For amounts of more than $ 50,000, we recommend using a personal FX broker service. Many US banks apply limits to transfers without the client present in the branch in the USA.

I recently helped an American couple who had the above issue with limits on their account and they have totally emigrated to Spain now and had no plans to return to the states. They have a 30k monthly limit for transfers from their US bank and they are in the process of buying a property here in Spain. This is problematic as they are purchasing the property in cash for 500k, which is way over their limit.

Dean Biddulph – Personal FX Broker

How to Send Money From The UK To Spain

Wise seems to be growing in popularity. Our poll of UK Expats has Revolut just ahead of Wise and XE (a dedicated FX transfer company), but both are used by many British people living in Spain.

Again, almost all avoid using a UK or Spanish bank due to higher costs and slower service.

Note: For amounts of more GBPยฃ50,000, we recommend using a personal FX broker service.

What Details Do You Need To Send Money To Spain?

To send a money transfer to a bank account in Spain from the USA or UK, you will need the following details:

  • The recipient’s full name
  • The receiving bank’s IBAN (International Bank Account Number)
  • BIC/SWIFT code of the receiving bank-Recipient’s address (optional)
  • A reference number or description that explains why you’re sending the money (e.g., salary payment)

You’ll need to determine the requirements for each non-traditional bank account transfer to Spain.

Read More: The 8 Best Expat Banks in Spain & How to Open a Bank Account In Spain.

Your Next Money Transfer to Spain

The five options above cover all our international money transfer requirements. The US and UK Expats we’ve spoken to use similar online money transfer services. Using a high street bank transfer is a waste of time and money; take the time to sign up with a better option. When you transfer money to Spain, it can be easy, fast, cheap, and safe!

FAQ – Transfer Money to Spain

What is the best way to send money to Spain?

Wise and XE are our most-used international money transfer options for small-value transfers to Spain from Australia, the UK, and the USA. We recommend using a personal FX broker for large-value transfers.

What payment apps work in Spain?

Apple Pay, Google Pay, and PayPal all work in Spain. Note: Venmo and Zelle are US-only options and do not transfer to Spain.

Do I have to pay tax on money transferred from overseas to Spain?

No Spanish tax is levied on the simple transfer of your funds to Spain. So, moving US dollars or UK pounds to Spain is not taxable.

Do you need to carry Euro notes and coins in Spain?

In Spain, we very seldom use cash. Credit and Debit cards from Spanish or international banks are happily accepted, and we can even buy a โ‚ฌ2 coffee from our corner bakery on Apple pay.

How can I transfer money from the USA to Spain?

Our US friends use Wise, XE, or Revolut to transfer money to Spain from the USA. You can use a US or Spanish bank, but fees and exchange rates will be higher than other methods. Western Union is useful for sending cash for collection in Spain. We recommend using a personal FX broker for amounts over $50,000.

Can I transfer money to a Spanish account?

Yes, but you’ll need some details to complete a money transfer to Spain. For a Spanish bank account, you’ll need the IBAN as well as the recipient’s name.

FX and Currency Transfer Glossary

TermDefinition
Currency ConversionThe process of exchanging one currency for another.
Currency Exchange Rate MovementsThe fluctuation of currency values over time, affecting the cost of international money transfers.
Exchange RateThe value of one currency for the purpose of conversion to another.
Foreign Exchange (Forex)The global market for buying and selling currencies.
Forward ContractAn agreement to exchange a set amount of currencies at a predetermined rate on a specified future date.
IBAN (International Bank Account Number)A standardized international numbering system for identifying bank accounts across borders.
Limit OrderAn order to buy or sell a currency at a specific price or better.
Market OrderAn order to buy or sell a currency immediately at the best available current price.
Multi-Currency AccountA bank account that allows the holder to operate in multiple currencies.
Pips (Percentage in Points)The smallest price move that a given exchange rate can make, typically used in the context of Forex trading.
Personal FX BrokerA specialist in handling large currency transactions, providing personalized service and better rates.
Recipient DetailsInformation required to send money, including the recipient’s name, IBAN, and SWIFT/BIC code.
RemittanceThe transfer of money, typically by a foreign worker to an individual in their home country.
Spot RateThe current exchange rate at which a currency can be bought or sold.
SpreadThe difference between the bid (selling) price and the ask (buying) price of a currency.
Stop LossAn order placed with a broker to buy or sell once the currency reaches a certain price, used to limit loss.
SWIFT/BIC CodeA unique identification code for a particular bank, used to facilitate international transactions.
Transfer FeeThe fee charged by a money transfer service for processing the transaction.
Value DateThe future date at which funds or assets must be transferred.

4 Comments

  1. Hey, have you any experience or feedback on sending South African Rand to Spain/Euros? Thanks in advance ๐Ÿ™‚

    1. Hi Scott. Great news is that Wise now manages direct transfers to ZAR. The recipient must complete a Reserve Bank recipient form, which is a simple formality. We’ve used the service several times this year. All the best, Alastair

  2. Hello, thanks for the useful article. What is your recommendation for transferring large amounts from the UK to Spain? Is there a limit or issues with the amount of a single transaction?

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