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Top 3 Money Transfer Providers for Spain to UK

Provider Amount Received Fee Exchange Rate Speed
Currencies Direct Currencies Direct GBP £8,535.61 £0.00 0.8536 1-3 days more...
Moneycorp Moneycorp GBP £8,544.24 £0.00 0.8544 1-3 days more...
TorFX TorFX GBP £8,561.50 £0.00 0.8562 1-3 days more...
FXcompared Country Guides
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SPAIN
Being a member of the single currency eurozone, Spain does not employ currency controls and has completely deregulated all individual and business transactions between residents and non-residents Read More
UK
There are no exchange controls in the UK for the pound sterling (GBP), and transferring money to the UK and sending money from the UK is very easy Read More
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Top 9 Money Transfer Providers

Latest prices for transferring money from Spain to UK
Exchange Rates as of 17 October 2019, 21:19
Bank Beating Rates

Currencies Direct

Call us0203 018 1318

Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

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Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

Amount Received
GBP £8,535.61
EUR €176.53
saved vs. banks

Moneycorp

?
Est. 1979

One-off payments | Regular payments | Great rates | Safeguarded customer funds

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One-off payments | Regular payments | Great rates | Safeguarded customer funds

Amount Received
GBP £8,544.24
EUR €186.53
saved vs. banks
Bank Beating Rates

TorFX

?
Est. 2004

Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

More InfoLess Info

Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

Amount Received
GBP £8,561.50
EUR €206.53
saved vs. banks

OFX (UK)

?
Est. 1998

OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates

More InfoLess Info

OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates

Amount Received
GBP £8,504.54
EUR €140.53
saved vs. banks

Currency Solutions

Currency exchange specialists ranking No.1 on Trustpilot for the past two years

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Currency exchange specialists ranking No.1 on Trustpilot for the past two years

Amount Received
GBP £8,552.01
EUR €195.53
saved vs. banks

WorldFirst

?
Est. 2004

Transparency and security | Great customer feedback rating from Feefo

More InfoLess Info

Transparency and security | Great customer feedback rating from Feefo

Amount Received
GBP £8,587.40
EUR €236.53
saved vs. banks

Global Reach (formerly FC Exchange)

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

More InfoLess Info

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

Amount Received
GBP £8,552.87
EUR €196.53
saved vs. banks

Smart Currency Exchange

Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
More InfoLess Info
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
Amount Received
GBP £8,544.24
EUR €186.53
saved vs. banks

RationalFX

?
Est. 2005
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
More InfoLess Info
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
Amount Received
GBP £8,552.87
EUR €196.53
saved vs. banks
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How to Transfer Money from Spain to UK

Daniel Webber
Summary written by Daniel Webber

Summary

Spain and the UK have a longstanding bilateral relationship and have agreements of cooperation in the areas of commerce, development and security. As member states of the EU, the OECD and NATO, Spain and the UK have extensive political, cultural and economic ties. Individuals and businesses may freely transfer money from Spain to the UK as both countries are members of the EU and part of the Single Euro Payments Area (SEPA).

While there are currently no plans to change this, the current uncertainty surrounding Brexit could change that in the future.

Visas and immigration

In 2015, about 125,000 Spanish-born people were living in the UK, while just over 240,000 British nationals were living in Spain by 2017. Spain is also an incredibly popular destination for British tourists. Spanish citizens are not required to obtain a visa to travel to the UK, whether for work, to study, or for tourism.

Banking and money

The UK’s banking system is advanced and sophisticated, just like the banking system in Spain. You may find branches of Spanish banks in urban areas, such as the British branch of BBVA. If you already have a linked account with a transnational bank, you will not have to open a new account in the UK. In order to open the account, you will be required to provide proof of a local address, as well as proof of income and or employment in the UK.

Having a bank account during your stay in the UK will help to facilitate direct-to-bank currency exchange transactions between Spain and the UK.

Taxation

The tax year in the UK spans the period between 6 April and 5 April of the following year. By contrast, like many other countries, Spain’s tax year is from 1 January to 31 December.

The UK tax system is quite complex and may require expert assistance, particularly for those with substantial earnings. If a Spanish national resides in the UK for 183 days or more during a 12-month period, they will be required to pay taxes on any income earned while in the UK, whether from profits, salaries, pensions or royalties earned worldwide. Those who reside in the UK for less than 183 days during a 12-month period will only face taxation on income earned within the borders of the UK.

There may be changes to make the system more complex when the UK leaves the EU.

Trade and investment in the UK

Spain is a primary exporter of lettuce, iron blocks, citrus and other fruits, prepared pigments, sea vessels, pure olive oil, melons, pitted fruits and cabbages. Its top five exports are motor vehicle parts, cars, packaged medication, delivery trucks and refined petroleum. The UK receives approximately 7% of Spain’s exports.

The UK is Spain’s fifth-largest trading partner at the moment, but with trade falling due to Brexit, this could be impacted over the next few years.

Studying in the UK

The UK is a popular destination for tertiary studies. Spanish nationals, as members of the EU, do not need a student visa to study at a university in the UK. Spanish students are usually eligible for domestic tuition rates as well. Even with this added benefit, however, tuition in the UK can be quite costly, and the cost of living is also high relative to that in Spain.

Tuition fees range from £9,000 to £12,000 for undergraduate studies, and can be much more for graduate studies. Fortunately, Spanish nationals are allowed to work part-time during the semester, for up to 20 hours per week. During breaks from school, Spanish nationals are allowed to work full-time in the UK.

There are no changes to studying for anyone starting their studies by 2020, but after that, there are no plans in place, so there is uncertainty around this.

Travelling with a pet

Those visiting the UK with a pet are permitted to transport dogs, ferrets, cats or horses into the UK without a period of quarantine, if they comply with the terms of the Pet Travel Scheme. Currently, there are no restrictions on travelling with other animals such as reptiles, rabbits, ornamental fish, rodents, birds or invertebrates into the UK from Spain. A rabies import licence is necessary for some animals. Check the Travel Abroad section of the UK government website for more information.

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FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.