Transferring Money to Spain: Whether you’re planning to move to Spain or already living there, transferring money efficiently is essential. From paying rent to managing investments, choosing the right transfer service can save you time and money.
💸 Why International Transfers Matter
Currency exchange fees and transfer delays can quickly add up, especially if you’re sending money regularly. Expats often underestimate the impact of poor exchange rates and hidden banking fees.
🏦 Traditional Banks vs Online Transfer Services
Traditional banks are often the go-to method for many, but they typically charge high fees (both fixed and hidden in poor exchange rates). Online transfer services, on the other hand, offer much better value for money and faster delivery.
🔹 Bank Transfers
- ✔️ Familiar and integrated with your existing account
- ❌ High exchange rate margins and international fees
- ❌ Slow processing (2–5 business days)
🔹 Online Services (Wise, Revolut, Remitly…)
- ✔️ Low fees and real mid-market exchange rates
- ✔️ Fast delivery (often same day)
- ✔️ Transparent pricing
📊 Best Transfer Services in Spain (2025)
Here are the most popular and recommended services for expats in Spain:
| Service | Speed | Fees | Best For |
|---|---|---|---|
| Wise (formerly TransferWise) | Same day | Low | Transparency & mid-market rates |
| Revolut | Instant (between Revolut users) | Free or low | Everyday spending & transfers |
| Remitly | Minutes to 1 day | Medium | Speed to family abroad |
| CurrencyFair | 1–2 days | Low | High-volume transfers |
📈 How to Get the Best Exchange Rate
Follow these tips to avoid losing money in the conversion:
- 📅 Time your transfer during strong exchange rates.
- 🔍 Use rate alerts to monitor trends.
- 🧾 Compare services before each transfer.
⚠️ Hidden Fees to Watch For
Be careful with:
- Intermediary bank fees (especially with SWIFT transfers)
- Receiving fees in Spain (ask your Spanish bank in advance)
- Tiered pricing — larger amounts often have lower rates
💼 Opening a Spanish Bank Account
To receive money in Spain, you’ll need a local account. If you haven’t opened one yet, read our full guide:
Banking in Spain for Expats: Open an Account & Avoid Fees.
🔗 Related Guides
- Spain Digital Nomad Visa 2025: Requirements & Application Guide
- Spain Cost of Living for Retirees: Monthly Breakdown
🎯 Final Tips
Before transferring large sums, do a test transfer. Use services with strong customer reviews and clear support options. And if you’re sending regularly, check for loyalty rewards or discounts.
Visit our sections on Financial Resources and Work & Business for more guides on living smart abroad.