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Send Money from United Kingdom to Spain

Amount
2000
GBP
EUR
United Kingdom
GBP
Spain
EUR
£
GBP
Fees: 0 Rate: 1.14298 *
2,285 .96 EUR
1-2 Hours
Debit Card
1-2 Hours
Bank Transfer
Fees: 0 Rate: 1.15248 *
2,304 .95 EUR
1-2 Hours
Bank Transfer
1-2 Hours
Debit Card
Fees: 0 Rate: 1.14784 *
2,295 .69 EUR
1-2 Hours
Debit Card
1-2 Hours
Bank Transfer
Fees: £8.37 Rate: 1.15533
2,300 .99 EUR
Next Day
Bank Transfer
Next Day
Credit Card
Next Day
Debit Card
Fees: £2.50 Rate: 1.15595 *
2,309 .01 EUR
1-2 Hours
Credit Card
1-2 Hours
Debit Card
3-6 Hours
Bank Transfer
Fees: 0 Rate: 1.12178 *
2,243 .57 EUR
3-5 Days
Bank Transfer
3-5 Days
Debit Card
Fees: £10.00 Rate: 1.12062 *
2,230 .04 EUR
3-5 Days
Bank Transfer
3-5 Days
Debit Card
Current Mid-Market Rate: 1 GBP = 1.158268 EUR
* Some rates may be indicative.

What’s the best way to send money abroad?

When sending money internationally, choosing the right service can save you both money and time. While banks offer online money transfer services, they often charge high fees and exchange rate margins that can eat into your transfer amount. Fortunately, there are other payment service providers that can help you send money faster and cheaper than is possible with traditional banks.

When you send money globally, the best way depends on where the transfer is going and how you want to send it, and so there are specialised money transfer providers that enable quick and easy money transfers to all different parts of the world. Most of these companies are fully regulated and rely on new technology to offer bank-beating rates and high transfer speeds. Sending money internationally via these transfer companies is often cheaper compared to banks and you get more payment and delivery options. We will learn about these in the coming sections. 

So, what is the best way to send money abroad? Unfortunately, there is no single service that will prove the best in all situations. You will need to evaluate the available options based on the amount and currency you are sending, where you are sending the money, the costs, transfer times, and other features. Some services are great for sending small amounts while others can offer you better rates for higher amounts. Your choice will also depend on whether you are willing to pay for instant transfer or your transfer can wait a couple of days. 

Online money transfer services are almost always a better option than banks when transferring money abroad, but it is important to compare your options.

Is there much difference between money transfer companies?

Yes, there are hundreds of money transfer providers that exist to help you send money abroad in a secure, convenient and quick manner, but not all are the same or work the same way. Mainly, these providers can be divided into three categories depending on the how the transfer your funds and what are best used for: 

  • Remittance companies: Also known as Money Transfer Operators (MTOs), these companies use networks of agents and banks to process payments and send money overseas. These companies are best suited for sending small amounts of money instantly. They generally charge a fixed fee (which can be quite high), and they may also charge a mark-up on the mid-market exchange rate. These companies usually offer many payment and delivery methods, with options including home delivery available in some countries. Examples of prominent remittance providers are Western Union and MoneyGram.
  • P2P companies: P2P stands for ‘Peer to Peer,’ with these providers enabling you to send small and medium-sized amounts to directly to recipients all across the globe. These companies operate completely online (with no branches or cash pickup locations), and usually operate by pooling users’ money in each country in which they operate. This enables them to make transfers quickly and efficiently once you have funded your transfer by simply transferring money to your recipient from the relevant pool – without having to actually send your money across borders and incur extra fees. P2P providers make a good choice if you have to make smaller transfers, and examples of some of the best-known providers are TransferWise, Venmo, Paypal, and SquareCash. 
  • Larger transfer specialists: Some transfer providers specialise in facilitating high-value transactions (generally over £10,000) and often provide tailored customer service through dedicated brokers to assist their users with sending money internationally. These companies work best when you have to transfer large sums of money abroad but you don’t want to pay the high bank fees. Companies that send these amounts of money abroad often have local bank accounts in key transfer locations, which make transfers easy, quick and inexpensive. Examples include XEWorldFirst and OFX.

How much does it cost to send money abroad?

The cost of sending money globally depends on a variety of factors including the source and destination country, amount and currency to be transferred, and the payment and delivery methods chosen. The most common costs associated with online money transfers include:

April Summers
April Summers

April is a trained journalist and the Content Editor for MoneyTransfers.com. She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she’s not writing about global remittances she can be found daydreaming about her next holiday abroad.