Select country...

Select country...

Select country...

Select country...

Send

Top 3 Money Transfer Providers for UK to Spain

Provider Amount Received Fee Exchange Rate Speed
TorFX TorFX EUR €11,610.26 £0.00 1.161 1-3 days more...
Currencies Direct Currencies Direct EUR €11,540.25 £0.00 1.154 1-3 days more...
OFX (UK) OFX (UK) EUR €11,490.07 No Fee 1.149 1-4 days more...
FXcompared Country Guides
See all guides here
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
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
See all guides here How we make money / Advertising Disclosure
 

Top 11 Money Transfer Providers

Latest prices for transferring money from UK to Spain
Exchange Rates as of 20 November 2019, 07:49
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
EUR €11,610.26
GBP £243.45
saved vs. banks
Bank Beating Rates

Currencies Direct

Call us0203 018 1318

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
EUR €11,540.25
GBP £183.45
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
EUR €11,490.07
GBP £140.45
saved vs. banks

Moneycorp

?
Est. 1979

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

More InfoLess Info

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

Amount Received
EUR €11,581.09
GBP £218.45
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
EUR €11,563.59
GBP £203.45
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
EUR €11,569.42
GBP £208.45
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.
More InfoLess Info
The Personal Payments team at Western Union Business Solutions look after the overseas currency requirements for private individuals.
Amount Received
EUR €11,493.57
GBP £143.45
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
EUR €11,610.26
GBP £243.45
saved vs. banks

Currency Solutions

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

More InfoLess Info

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

Amount Received
EUR €11,574.09
GBP £212.45
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
EUR €11,569.42
GBP £208.45
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 InfoLess 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 €11,284.48
No saving vs. banks
Notify me when rates change
Get free rate alerts
to
?

Currency Converter


GO

How to Transfer Money from UK to Spain

Daniel Webber
Summary written by Daniel Webber

Summary

There are no restrictions when transferring 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 one million British expats in Spain. This may all change as the Brexit process draws closer to being completed. At the moment, there is a lot of uncertainty in place, and no one really knows how expats are going to be impacted by the ending of freedom of movement.

Visas and immigration

British and Spanish citizens are free to relocate to the other country, whether for work or retirement, and do not need a resident or a work permit. If you are 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. This has been slimlined by membership with the EU but, as previously mentioned, could be under threat with the current Brexit negotiations.

Buying property in Spain

The number of Spanish domestic properties bought by British nationals rose in 2012 by 3.5% to 4,148, though 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. After Brexit, the value of the pound falling combined with uncertainty regarding residency has led to British investment in Spanish property falling away.

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 that focus on overseas property purchases. Whether borrowing or buying outright, it is essential to budget for buying costs, such as a 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

Spain has become one of the most popular 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 one million. 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 be the best way to make sure that 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 declaration of overseas assets by 31 March each year. This agreement has been come to via the EU. This may not still be in place if the UK finally leaves the EU.

Our Country Guides

Your Feedback

We welcome all suggestions for improvements. Send us an email at feedback@fxcompared.com.

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.