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How to send money to Spain

Shop around for the best money transfer service when you need to send money to Spain

International money transfers don’t have to be expensive or difficult. Money transfer services are a better option than banks because of their competitive rates and fees. When you need to send money to Spain, compare the transfer fees and exchange rates of the options available to you to get the best deal.
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  • Enjoy competitive exchange rates.
  • Get even better exchange rates with forward contracts and limit orders.
  • Receive weekly updates on market exchange rates.

    Compare international money transfers to Spain

    Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds to Spain with our money transfer partners.

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    Ofx Logo

    Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.

    With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:

    • Buying property abroad
    • Emigrating
    • Regular overseas payments
    • Risk management
    • Forecasting
    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Services Amount Received Description CTA Details
    World First Foreign Exchange
    USD 1,000 1 day USD 0.00 0.847 Online EUR 4,235 Exclusive offer: $0 transfer fee
    No-limit transfers with competitive exchange rates for more than 100 currencies.
    Go to site View details
    TransferWise International Money Transfers
    USD 1 1 day USD 50.00 0.859 Online EUR
    4,254
    Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site View details
    OFX International Money Transfers
    USD 150 1 day USD 0.00 0.856 Online, Bank Account to Bank Account EUR 4,279 Send safe, no-limit transfers with no fees and competitive exchange rates. Go to site View details
    HiFX International Money Transfers
    USD 100 2 days USD 5.00 0.855 Online EUR 4,273 Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000. Go to site View details
    Do you send money often? Track this rate with tailored alerts direct to your inbox

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    Banks vs. money transfer companies

    While you’ll be tempted to visit your bank for a wire transfer to Spain, a reputable money transfer service can typically offer better exchange rates, lower fees and faster delivery — often without you having to leave your home.

    Banks don’t often publish exchange rates, but you can sometimes find the rate you’ll receive by logging in to your online bank account.

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    Case study: Xavi sends money to Spain

    Having married an American woman and relocated permanently to California, Xavi still maintains strong ties with his family in Barcelona. When his sister gets into financial trouble and urgently needs cash to pay her bills, Xavi offers to send her $1,000. Rather than fork over the hefty fee charged by his bank, Xavi decides to see how much it will cost him to transfer the money through a money transfer providers.

    Money transfer company 1Money transfer company 2
    Exchange rate1 USD = 0.87 EUR1 USD = 0.83 EUR
    Transfer fee$5$58
    Transfer methodBank account depositCash pickup
    Transfer speed3 business days10 minutes
    Total EUR received 870 EUR830 EUR

    As you can see, while the second company allows rapid transfers it also charges a much higher transfer fee ($53 greater) and offers a poorer exchange rate. Xavi can send an extra 40 euros if he uses the first provider.

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    How to compare transfer companies when sending money to Spain

    By comparing a few elements of your transfer, you can ensure that you get the cheapest deal for your needs.

    • Exchange rates. Nearly all providers skew exchange rates for a profit. Compare the rate you’re offered to the mid-market rate — the rate banks and transfer services use when they trade among themselves — and look for the smallest margin between them.
    • Transfer fees. Find out whether the provider charges a flat fee or a percentage of your transfer. If you’re sending a large amount, ask whether you qualify for a fee-free transfer.
    • Payment and delivery options. Some transfer companies allow you to pay with a credit card online, by phone or through an app. Others offer agent locations for cash payments and pickups. Also ask how your recipient can receive your funds: bank account, cash pickup, mobile wallet and more.
    • Transfer speeds. If it needs to be there fast, companies like Western Union and MoneyGram allow for quick cash pickups, often in minutes. If you have more time, you’ll get better rates and fees with an independent provider.
    • Transfer limits. Your best option might depend on how much you want to send. For large transfers, weigh the best exchange rate —especially since providers encourage large transfers by offering low fees. For smaller amounts, consider the fees you’ll pay on top of the exchange rate.
    • Flexible transfer options. Ask whether you can schedule payments ahead of time or protect your transfer against market fluctuations with a limit order or forward contract.
    • Customer support. Most companies offer customer service by Internet chat, phone, in person or by email. Make sure help will be available if you need it.
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    Foreign exchange rates explained
    The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weak currency. Most countries’ exchange rates are flexible, which means they can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.
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    How to send money to Spain

    Whether you send money through your bank, a money transfer provider or any other option, you’ll need to first register for an account with a provider, supplying your name, address, contact details, proof of ID and information about your selected payment method. Keep a record of any transaction reference number you receive so that you can review the progress of your transfer.

    Ways to send money to Spain from the US

    • Bank transfers. Many major US banks will allow you to send money to Spain.
    • Money transfer providers. Providers like Ria and World First can help you quickly and easily transfer your money online.
    • Providers with cash pickup. Western Union and MoneyGram allow you to send funds for cash pickup at agent locations.
    • PayPal. Electronic payment giant PayPal allows you to send money from the US to Spain.
    • Checks and money orders. Although not a quick option, you could send an international check overseas, obtained from your bank or US Postal Service.
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    How safe is a money transfer?

    When processed through a reputable provider, your funds are safely tracked until in the hands of your recipient. When sending money internationally, federal protections are in place that require banks, credit unions and money transfer companies to, for example, disclose all fees upfront and give you 30 minutes to cancel a transfer, assuming it hasn’t yet been picked up or deposited.

    Picking up cash

    Whether picking up funds in Madrid or anywhere else around the world, take a few simple safety precautions to prevent yourself becoming a target for thieves.

    • Call ahead. Learn the company’s business hours and choose a safe time to pick up your cash. Daylight hours are best.
    • Bring a friend. Carrying money when alone can be dangerous. Ask a friend to come along.
    • Deposit your money immediately. The likelihood of losing your money to theft or simple carelessness grows the longer you have it with you. Go straight to a bank and deposit your cash as soon as possible.
    • Keep your cash hidden. Place your money in your purse or wallet before leaving the office. Carrying cash out in the open could make you a target.
    • Emergency cash transfers in Spain

    You might need to send an emergency cash transfer to Spain — for example, if a friend traveling through the country loses their wallet. When you need to transfer funds urgently, your fastest possible transfer will often be your most expensive option. Carefully review the exchange rate and transfer fee against your needs so that you understand exactly how much it will cost you.

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    Bottom line

    You have multiple options to choose from when sending money to Spain from the United States. To get the best value for money for your international money transfer, compare the benefits and features of competing services before selecting a provider.
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