|Minimum Age||18 years|
You can use an international money transfer service to send money to Spain, and it could save you money compared to using your bank.
Banks charge a SWIFT transfer fee, which costs around £20. However, the fee is usually a lot lower using a money transfer service.
To find the best money transfer deal, you need to look at:
The transfer fee: This is the cost of making a single transfer to Spain. Shop around as some companies have no transfer fee, but others charge up to £7.
The exchange rate: This tells you how many euros you get in exchange for each pound you send, for example, an exchange rate of 1.2 will turn £1 into €1.20.
When comparing deals, write down how much it costs to send the euros you want to Spain, including transfer fees, then choose the cheapest.
Single payments let you send one off transfers, but regular payments let you set up several money transfers over a set term, such as 6 months.
A regular payment could let you use the same exchange rate for each transfer you make over a set term. This means you know the cost of each transfer in advance.
Use this comparison to find companies that let you arrange regular money transfers to Spain, single transfers or both.
A standard money transfer can take one to three working days, but some companies offer same day or next day delivery for a fee.
They deduct their costs from the interbank rate (the rate banks use to exchange currencies with one another) to give you a personalised rate.
They specialise in sending money abroad, which gives them access to cheaper rates for international payments. This means it costs you less too.
Transfer fees cover the administration costs of sending your money abroad.
Yes, your money is kept separate to a transfer company's operational money, meaning you have a better chance of getting your money back if they go bust.
We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.
You do not pay any extra and the deal you get is not affected.
Last updated: 12 October, 2021
Comparing money transfers could help you save money. Our award-winning money transfer comparison service makes sure you get our best exchange rate with the lowest fees. Our aim is to provide you with the most up-to-date information, as well as useful tools and calculators to help you make life's most important decisions and take control of your money.
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