If you are looking to send money to Spain from the UK, there are many safe, fast and convenient ways to transfer funds.
How To Send Money to Spain from the UK
Spain is one of the countries with the largest British expat populations. Recent data recorded a staggering 285,000 British citizens residing in Spain. Alongside this, there seem to be increasing numbers of Spaniards living in the UK. In 2019, there were an esimated 188,000 Spanish nationals residing in the UK. This is a 12,000 increase from the previous year. Subsequently, there is a huge demand for sending money to and from Spain from the UK.
|Provider||Transfer Amount||Fee||Speed||Visit Site|
|£100||£0.50||1-4 Business Days||Get a Quote >>|
|£100||£0.91||Instantly - One Day||Get a Quote >>|
|£100||£0||Same day||Get a Quote >>|
Methods to Send Money to Spain from the UK
Sending Money to Spain via Credit and Debit Card
Using a debit card to send money to Spain or make purchases on Spanish websites tends to offer a poor exchange rate. You are likely to be hit twice – both an admin cost from your bank when making the payment, and a handling cost from the recipient bank. Thus, it is advisable to use a foreign exchange broker or mobile service. That way you benefit from a better exchange rate and avoid some of the transfer fees. Credit cards are also prone to uncompetitive exchange rates as well as transaction fees.
Sending Money to Spain via Bank Transfer
Most high-street banks offer an international payment service; however, this comes with a transfer fee. This tends to be between 10-30 GBP. Additionally, many view this as a less convenient option as it often involves physically going into your local bank branch in order to make the payment. Swift payments are also a common method when sending money to Spain.
Sending Money to Spain via Western Union
Western Union is one of the most trusted solutions when sending money abroad. They offer flexible solutions giving you the option to send money online, via mobile payment or in person. The recipient can, in turn, receive the money directly into their bank account or can collect the cash (more than 4,500 locations).
Sending Money to Spain via Online Money Transfer Services
Online money transfer services are recognised as one of the most cost-effective and convenient solutions to send money to Spain from the UK. TransferWise is one of the services offering the best exchange rate at the lowest transfer fee.
Sending Money to Spain via PayPal
Money can be sent easily from the UK to Spain via PayPal however this is not a free service. Sending money between the two countries incurs an interest rate of 0.5%.
Sending Money to Spain via Mobile Payments
ApplePay is supported in Spain, providing a convenient solution for sending money.
Get the best pound-euro exchange rate with services such as TransferWise
Can You Send Money to Spain For Free?
TransferWise is recognised as one of the cheapest ways to send money between the UK and Spain. The cost is a flat fee of 26p + 0.35% of the amount being converted. So, the more money sent, the higher the transfer fee proportionately. They offer a combination of the lowest fees and the best exchange rates.
How Long Does It Take to Send Money to Spain?
Depending on the service provider chosen, funds can arrive to Spain instantaneously. TransferWise payments should arrive within 4 hours. Payment through Western Union can arrive in a matter of minutes.
What Do You Need to Send Money to Spain?
Typically, you will need to provide your personal information and reason for the transfer. In addition, you need to provide the name, account number and contact details of the recipient.
Is it Safe to Send Money to Spain from the UK?
As with any money transfer, experts recommend adopting caution. Always use a widely recognised service, read reviews, and look for FCA approval. FCA authorisation confirms that the accounts are safeguarded. With any legitimate company, you can ask for a record of their FCA enrolment number or review the FCA details on their website.
Although transferring money is never totally without risk, using a trusted money transfer service is one of the most secure routes. As with any payment, be careful with security, ensuring that you never share sensitive information in any email or phone correspondence.