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Top 3 Money Transfer Providers for Spain to USA

Provider Amount Received Fee Exchange Rate Speed
OFX (UK) OFX (UK) USD $10,917.73 No Fee 1.0918 1-4 days more...
Moneycorp Moneycorp USD $10,941.44 No Fee 1.0941 1-3 days more...
TorFX TorFX USD $11,052.86 No Fee 1.1053 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
USA
The dollar, the world’s most traded currency, is held on a free-float exchange rate and is fully convertible to foreign currencies Read More
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Top 9 Money Transfer Providers

Latest prices for transferring money from Spain to USA
Exchange Rates as of 27 March 2020, 21:00

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

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FXcompared
Score
Amount Received
USD $10,917.73
EUR €86.49
saved vs. banks

Moneycorp

Est. 1979

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

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FXcompared
Score
Amount Received
USD $10,941.44
EUR €107.77
saved vs. banks

TorFX

Est. 2004

Excellent exchange rates | No transfer fees | Thousands of 5 star reviews 

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FXcompared
Score
Amount Received
USD $11,052.86
EUR €207.77
saved vs. banks

WorldFirst

Est. 2004

Transparency and security | Great customer feedback rating from Feefo

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FXcompared
Score
Amount Received
USD $11,086.29
EUR €237.77
saved vs. banks

Currency Solutions

Est. 2003

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

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Amount Received
USD $11,040.61
EUR €196.77
saved vs. banks

Currencies Direct

Est. 1996

Great exchange rates | Specialist services | No added fees, 24/7 transfers | Safe and secure

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Amount Received
USD $11,052.86
EUR €207.77
saved vs. banks

Global Reach (formerly FC Exchange)

Est. 2005

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

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Amount Received
USD $11,041.72
EUR €197.77
saved vs. banks

Smart Currency Exchange

Est. 2004
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
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Amount Received
USD $11,030.58
EUR €187.77
saved vs. banks

RationalFX

Est. 2005
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
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FXcompared
Score
Amount Received
USD $11,041.72
EUR €197.77
saved vs. banks

How to Transfer Money from Spain to USA

What is in this guide

Spain to USA Guide

Summary

The US and Spain, one of the founding members of the EU, are part of a longstanding transatlantic trading and economic partnership. Bilateral investment and trade between the US and the EU alone represent approximately one-third of the total goods and services traded throughout the world and nearly half of the world’s economic output, according to US government estimates. A current working partnership, the Transatlantic Trade and Investment Partnership (TTIP), seeks to increase trade and investment activities between the two regions. Currently, there are no restrictions for US or Spanish citizens who are planning to transfer money from Spain to the US and convert their euros to dollars.

Visas, work permits and residency

Spanish citizens who wish to live or work in the US must apply for the appropriate visa or be granted permanent resident status. There are many different visa types, and it is recommended that Spanish citizens planning to come to the US first visit their local US consulate or embassy to determine visa or permit requirements. For stays of three months or longer, or in order to legally work in the US, an immigrant or non-immigrant visa is required. Travel and short visit visas can be granted after filling out the appropriate online forms and attending an in-person interview at the local American consulate or embassy.

For travel or short visits lasting less than three months (90 days), a visitor or business visa is required for most foreign nationals. Citizens of Spain, as well as the rest of the EU, are eligible for the US Visa Waiver Program, however. Travellers must register with the Electronic System for Travel Authorisation (ESTA) and pay a small fee. As of August 2019, the ESTA authorisation fee was US$14. With this approval, Spanish citizens may stay in the US for a period of up to 90 days, whether for business or pleasure.

Buying property in the US

Relatively few restrictions apply to foreign nationals who are legally in the US and wish to rent or own property. As each individual state maintains its own real estate laws, it is advisable to obtain the services of a licensed real estate attorney or agent, who can advise on regional and federal real estate laws. It is advisable to use a licensed real estate agent when buying or selling property within the US.

Foreign buyers who wish to purchase property in America must provide an Individual Taxpayer Identification Number (ITIN) before closing the transaction. The ITIN is issued by the national tax authority, the Internal Revenue Service (IRS). Once the application is complete, the IRS may require up to five weeks to issue an ITIN, or longer in some cases, so it is important to factor this into your plans. Once the ITIN is approved, Spanish nationals face no other restrictions to transfer money from Spain to the US to fund the purchase.

Studying in the US

Spanish students planning to study in the US must obtain a student visa before entering the country for programmes that exceed 90 days. Before they can apply for a student visa, they must first apply to and be accepted at a US accredited school or programme. Once the school has issued its acceptance, it will supply the necessary documents so that the student can then apply for the appropriate visa.

There are two student visas offered by the American government to foreign citizens wishing to study in the US. The F-1 visa is for academic studies at an approved school or accredited American university and accounts for the majority of student visas issued. The M-1 visa is for non-academic/vocational studies, or specialised training with an American institution.

Taxation

In 1991, Spain and the US agreed to a bilateral tax treaty for the avoidance of double taxation of citizens living and working in either country. Spanish citizens earning income within the US may be eligible to receive tax credits with the Spanish government based on what they pay in the US. Consulting a tax professional familiar with the laws in both countries is recommended if you plan to spend a significant amount of time in the US.

Importing from Spain to the US

As part of the EU, Spain is part of a transatlantic trading and economic partnership with the US, which is currently one of the largest economic relationships in the world, with trade flows in 2018 valued at nearly US$3.5bn per day. Combined, the EU countries rank as the second-largest imports supplier to the US, with a value of US$488bn in 2018, up 12.3% from the previous year, and two-way trade of US$807bn. The EU and the US are involved in a number of global and regional initiatives to support increased trade, investment and global safety throughout the world. One of the most recent initiatives between the two regions is TTIP, a trade and investment agreement and framework that seeks to improve regulatory processes and enhance the flow of bilateral trade and investment. The EU supported 2.6 million jobs in the US in 2015.

Frequently Asked Questions

Are the money transfer companies shown above safe to use?

Yes, all the companies are safe and fully-regulated money transfer services. Each are authorised and regulated by the relevant authority such as the Financial Conduct Authority(FCA) in the UK, FinCEN in the US, FinTRAC in Canada or ASIC in Australia.

How long does an international money transfer take?

The speed of delivery will depend on where the money is being from and to and how you are sending and receiving the money. Transfers sent using bank to bank transfers can depend take anywhere from minutes to days and you should check the time estimates from the relevant provider. Debit and credit card payments sometimes allow for faster transfers for smaller amounts.

How do I use FXcompared?

First review the comparison results (such as for a table above) for a given amount of money sending from Spain to USA. Then select a provider based on factors such as price, speed, their rating and click the green button to be taken to their website. From there, you can register and sign up for an account. Once you have done that and the provider has verified your identity to ensure the money can be send safely, you will be ready to transfer money.

What payments methods can I use to send money overseas?

The results shown above are typically for bank to bank transfers. It is possible via some providers to pay in your funds for the transfer via cash, debit or credit cards as well but this is usually reserved for smaller amounts. Some providers also give you different options for how the money will be received - to a bank account (most common), to a debit card, to cash or to a digital or mobile wallet.

What if the price shown above isn’t exactly what I am offered when I try to transfer money?

There can be a number of reasons why the final price you are offered may be different to that shown in the table above. Exchange rates between two currencies change all the time and is the most common reason. Additionally, some providers offer different pricing depending what method you are using to send funds or how the funds will be received. Others may offer you a premium service for faster payments. In some cases FXcompared has a special rate with a provider and this is reserved for first time customers who sign up to the provider starting from FXcompared’s website. As prices do change often, be sure to confirm the total cost with the provider before transferring money.

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All the providers listed are regulated by the relevant authority (e.g. the FCA in the UK, FinCEN in the US, ASIC in Australia) and have been vetted by FXcompared.

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.