Transfer money from UK to Spain

GBP £158.41 Avg. Saving vs. Banks ?
 

Here are the latest prices for transferring money from UK to Spain
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Top 11 Money Transfer Providers

Exchange Rates as of 2019-01-21T19:04:56+00:00

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
EUR €11,223.32
GBP £169.60
saved vs. banks
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
EUR €11,211.98
GBP £159.60
saved vs. banks

OFX (prev. UKForex)

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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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
EUR €11,234.65
GBP £179.60
saved vs. banks
Bank Beating Rates

TorFX

?
Est. 2004

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
EUR €11,245.99
GBP £189.60
saved vs. banks

Global Reach (formerly FC Exchange)

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

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

Amount Received
EUR €11,234.65
GBP £179.60
saved vs. banks

WorldFirst

?
Est. 2004

Transparency and security | Great customer feedback rating from Feefo

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Transparency and security | Great customer feedback rating from Feefo

Amount Received
EUR €11,243.16
GBP £187.10
saved vs. banks

RationalFX

?
Est. 2005
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
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Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
Amount Received
EUR €11,240.32
GBP £184.60
saved vs. banks

Western Union Business Solutions

The Personal Payments team at Western Union Business Solutions look after the overseas currency requirements for private individuals.
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The Personal Payments team at Western Union Business Solutions look after the overseas currency requirements for private individuals.
Amount Received
EUR €11,166.63
GBP £119.60
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
EUR €11,244.86
GBP £188.60
saved vs. banks

Smart Currency Exchange

Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
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Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
Amount Received
EUR €11,240.32
GBP £184.60
saved vs. banks

Rates From The Average UK High Street Bank

Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK  by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.

We check all rates regularly and this quote is an actual quote of the average from UK banks for this month. It includes all major and small banks. Lloyds, Barclays, HSBC, Santander, NatWest, RBS, Coutts, Handelsbanken, Metro bank and more - tracked every month. We obtain our rates via our IMTI platform.
 

More Info Less Info

Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK  by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.

We check all rates regularly and this quote is an actual quote of the average from UK banks for this month. It includes all major and small banks. Lloyds, Barclays, HSBC, Santander, NatWest, RBS, Coutts, Handelsbanken, Metro bank and more - tracked every month. We obtain our rates via our IMTI platform.
 

Amount Received
EUR €10,963.49
No saving vs. banks

How to Transfer Money from UK to Spain

Summary

There are no restrictions to transfer money from the UK to Spain, both countries being members of the EU. The UK has become a popular destination for Spaniards, particularly younger people, seeking employment opportunities given their home country’s economic weakness. Spain, meanwhile, has long been a popular destination for UK retirees. There are up to an estimated 1m British expats in Spain.

Visas and immigration

British Spanish citizens are free to relocate to the other county, whether for work or retirement, and do need a resident or a work permit. If moving to Spain, you should obtain a foreign identity number, Número de Identidad de Extranjero (NIE) and a residency card, Tarjeta de Residencia (TR) within three months of arriving.

Buying property in Spain

The number of Spanish domestic properties bought by British nationals rose in 2012 by 3.5% to 4,148, although this is still far from the peak of more than 17,000 in 2007. The strengthening of the pound since 2013 and continued weakness in the Spanish property market may see interest continue to grow.


It is difficult to get a mortgage in the UK against a foreign property, so any mortgage will likely come from a Spanish lender. There are specialist brokers in the UK which focus on overseas property purchases. Whether borrowing or buying outright, it is essential to budget for buying costs, such as mortgage and lawyers' fees, taxes and insurance; around 10% of the purchase price is generally advised for Spain. Securing such expert property, legal, and tax advice is absolutely essential before making any overseas money transfer. The British government has a dedicated website offering advice on buying property in Spain.

Retirement and pensions

Span has become one of the most favourite retirement destinations for expats from the UK, with some 57,000 retirees settling there (out of 808,000 British expats in total) as of 2012 according to the UK’s Department of Work and Pensions, and the Institute of Public Policy Research. Some estimates put the number of British expats at around 1m. If you live in but have never worked in Spain, you must contact the International Pension Centre in the UK in order to claim your UK state pension.

The UK state pension can be paid to a Spanish bank account, but it may be better value to receive the money into a UK account and send money to Spain. Given that the British government is not obliged to raise pensions in line with inflation, using a broker may the best way to make sure you receive as much as possible. If you become a non-UK resident, you will not pay UK tax on your state pension but may still pay tax in Spain.

Taxation

With Britain and Spain having a double taxation agreement, people do not pay tax on the same income in both countries. In accordance with Spanish and international law, all residents in Spain, both nationals and non-nationals, are obligated to declare assets held outside Spain. Assets may include bank accounts, securities, rights, insurance, annuities, property, etc. The Spanish government requires all residents to file an annual asset declaration of overseas assets by March 31st each year.

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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.