Find the Best Way to Send Money to Spain

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Some of the best money transfer services to send money to Spain

Transfer money overseas. Transfer money from Australia to Spain
  1. TransferWise is one of the easiest online money transfer services that offer the best exchange rates
  2. TorFX are good for larger amounts and they have a local office with excellent over the phone service
  3. OFX are an Australian owned and run business with an easy to use online site
  4. WorldRemit is one of the cheapest ways to send money and is great for international payments to family and friends
  5. InstaRem also has excellent exchange rates with low fees
  6. WorldFirst have a range of business products and services
  7. SendFX are a newer money transfer service based in Queensland with good rates and no fees
  8. XE Money Transfers are one of the largest and most reputable money transfer companies in the world
  9. Currencies Direct offer an easy to use online platform, fee free

In this guide

Making a money transfer to Spain can be confusing for the first time. There are lots of companies who will send your money and its hard to work out which one is best for you. We have done the research, so you can easily work out how to transfer your money to Spain in a simple, fast and safe way.

Key Take Outs

Need to send money to Australia from Spain instead? Learn more here.

How to transfer money to Spain from Australia in 3 easy steps

Using a money transfer service
How to send money to Spain from Australia. Step 1


Sign up online It takes 5-10 minutes to type in your personal details, verify your identity with photo id and set your account with passwords. You don't have to be a regular customer.
How to send money to Spain from Australia. Step 2


Provide international money transfer details Tell them how many euro you want delivered. Enter the bank information of the person you are sending money to. Send the funds requested.
How to send money to Spain from Australia. Step 3


Money is delivered Money is delivered to the Spanish bank account and you are updated regularly via phone or email. They're very good at keeping you informed of where your money is.

Best ways to send money to Spain

1. Using a money transfer company

A money transfer company specialises in foreign currency exchange. You can send money online from an Australian bank account to another bank account overseas. It's normally the cheapest and fastest way to transfer money.

We trust two companies for money transfers to Spain:


TorFX is best for larger money transfers over $10,000. They remove their transfer fee for transfers over A$10,000 and have great customer service.


transferwise logo

When sending money to Spain, TransferWise you consistently receive the most competitive exchange rate (the mid-market rate) and you're told your total costs upfront. They are best for money transfers under $10,000.

Best ways to send money to Spain
Best ways to send money to Spain using a remittance company

2. Remittance company money transfer

Remittance companies specialise in sending small amounts overseas to friends and family overseas. They're able to transfer money overseas to bank accounts, provide cash pick up and transfers by mobile wallets.

They're usually more expensive than other online money transfer companies, but are often faster in emergencies.

While Western Union is the most well-known remittance company, there are some better alternatives:


Instarem is best for money transfers under $5000. They charge smaller transfer fees and offer competitive rates on foreign exchange.


With a fee starting at $2.99 when transferring money to Spain, WorldRemit has low transfer fees and is really handy if you want to do same day money transfers.

3. Bank transfers

The big 4 banks in Australia send euro to Spain but they are more expensive and often slower to transfer your money.

They charge a transfer fee between $9 -$12 and then you might take a 'hidden fee' from the total euro received in the Spanish bank account.

A bank transfer moves money between countries on the SWIFT network or an electronic wire or telegraphic transfer. Money is transferred from one bank account to a bank account in another country.


Best ways to send money to Spain using a bank

How much will it cost to make my international money transfer?

There are 3 fees you'll usually be charged to send money to Spain:

How much will it cost to transfer money to Spain from Australia?
  • Exchange rates - The better the exchange rate, the more euro (EUR) you get in the bank account in Spain. Money transfer services that offer better exchange rates will usually charge you a separate transfer fee.
  • Transfer fees - These can range anywhere between $0 to $5. Some online transfer companies offer fee-free transfers for sending large amounts of money. These companies usually charge a slightly worse margin on their exchange rate, but are still better than bank fees.
  • Hidden fees - You or the person you're sending money too will often get charged a bank receiving fee or banks intermediary fee of approximately $25 each.

How long does it take to transfer money overseas?

Money Transfer Services can take 0 - 3 business days

When using a money transfer service like TransferWise, they tend to quote transfer time in hours not days. Unlike banks, they keep you updated on the movement of your funds. This includes the estimated arrival time of your funds to the account you're sending money to.

Remittance Companies can take 0 - 5 business days

An instant transfer is available with remittance companies if you pay a higher transfer fee and the person can collect in cash. Alternatively you can send money using money in your bank account to another bank account and it can take up to 5 business days.

Bank to Bank Transfer can take 2 - 5 business days

Also known as a 'wire' or 'telegraphic transfer'. These transfers are slow, because the money may go through a network of correspondent banks before landing into the account in Spain. The time it takes will also vary depending on the bank receiving the money. Plus, it's up to you to check if the person you sent money has received it.

How long does it take to transfer money to Spain from Australia?

What information do I need to transfer money to Spain from Australia?

What information do I need to transfer money to Spain from Australia?
  • Your personal information: Your full name, address and date of birth. For security reasons they need your photo id scanned or photographed. You can use your mobile phone to take a photo and send.
  • How you wish to pay: Your bank details, account numbers and address or debit/credit card details.
  • The full name and address of the person you wish to pay.
  • Overseas bank account details, the name on the account, the IBAN and SWIFT code or BIC code for the bank account abroad.


Helpful hints

- Make sure your photo is of a high quality so they can see the picture
- Make sure your personal id is valid and within the expiry date
- You can't give your work/office address or PO box address

Can I use PayPal to transfer money overseas?

Yes. You can use PayPal to transfer money overseas if the person you're sending money to also has a PayPal account. However, it can get pretty expensive.

To send $100 euro it will cost $5 if you pay using a bank transfer. If you pay with credit or debit card it will cost you $7.60 Australian dollars plus € 0.30 euro.

Fees are also percentage-based. This means if you send $1,000 it will cost $50 if you pay from your Australian bank account. If you pay with credit or debit card, it will cost $76 Australian dollars plus € 0.30 euro.

For the person overseas to access the money you sent them, they need to sign up or sign in to their PayPal account.

How can I transfer money overseas with the big 4 banks in Australia?

Transfer money to Austria from Australia with CBA, NAB, ANZ and Westpac

While we have covered the benefits of using a money transfer provider, many people have bank accounts with NAB, CBA, Westpac and ANZ and these guides show you:

  • How to transfer money overseas with Commonwealth Bank
  • How to transfer money overseas with NAB
  • How to transfer money overseas with Westpac
  • How to transfer money overseas with ANZ

Factors to consider to find the best option for your needs

Aside from costs and speed, choosing the right product, frequency, customer service and customer reviews are also good to consider if you have time:

1. Right product or service for your situation

Are you making a personal or business transfer? You might need foreign exchange products so you can lock in the exchange rate. Business products include spot contracts, forward contracts and lock-in contracts to help you buy EUR at the best rate.

2. Frequency

How often will you need to make an online money transfer? Being able to make regular and quick payments to your home account in Spain or family, friends or employees also in Spain can be important. Some mobile apps are also better than others.

3. Good customer support

Do you need to speak an account manager for assistance? Look for a money transfer service that works for you, whether you need 24/7 support via phone, email or online chat.

4. Reviews or Trustworthiness

Do reviews give you peace of mind when making an international transfer? If so, Trustpilot is a great source of 3rd party reviews. In addition, we have reviews to help you choose the best money transfer service to make your currency exchange to Spain.


Helpful information, tools and videos

Here at The Currency Shop, you’ll learn how to save on transfer fees when sending money to Australia from overseas.

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to find today’s exchange rates.

Travel money tool

to get the best rate when you’re buying currency in Australia.

Money transfer comparison tool

to find the cheapest rates and lowest fees.

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Need a hand? Call 1800 004 930 or send us an email.

By Justin Rampono Updated March 5th, 2021