How to send money to Spain from Canada
The best way to send CAD to EUR | Wise |
The total number of Canada to Euro providers | 11 |
The average cheapest way to send money from Canada to Spain | TorFx |
Best option for debit card transfers | Wise |
Best option for bank transfers | Wise |
You can always compare rates and fees based on your transfer amount and payment options when sending money.
The best way to send money from Canada to Spain
We recommend using Wise for money transfers to Spain from Canada.
We analyzed 11 providers that allow CAD to EUR transfers. Wise emerged as the best option in 80% of searches.
What’s the cheapest way to send money from Canada to Spain?
Based on results from the last 3 months, of the 11 providers we list, the cheapest way to send money from the Canada to Spain was TorFx, and the average cheapest payment method was Bank Transfer.
TorFx has averaged 0.3% cheaper than the next nearest provider for money transfers to Spain from Canada.
Just to make you aware, Bank Transfer was the overall cheapest payment method.
The cheapest way to send money isn't always the fastest
Be sure to pick the right option, Instarem is the most cost effective way of sending, but make sure the timeframes work for you.
How the cost of sending money to Spain from Canada is calculated
The cost of sending money from Canada to Canada depends on several things, including:
The mid-market rate
The current mid-market rate between CAD and EUR is 0.680676. The rate the time you transfer will impact your overall cost. As an example, Wise has averaged -0.47% below the mid-market rate over the last 3 months, generally making sending money a little cheaper before fees.
The markup and fee
Providers will often charge a markup on the rate, fees, or both, for transfers between Canada and Spain. This is why Instarem is listed as our cheapest option - they offer the best combination of Canadian Dollar to Euro (0.19) and fees (0).
Bank transfers from Canada to Spain
Bank transfers are the most common way of sending CAD to Spain as they are secure, reliable, and convenient.
If you want to send Canadian Dollars to Spain through a bank transfer, Wise has been the top rated provider in our comparison system for the last 3 months, being recommended 86.6% of the time.
That’s because companies like Wise bypass the SWIFT network by relying on their own digital network of banks, making transfers faster and cheaper. As an example, Wise's transaction fees for Canadian Dollars into Spain have averaged significantly lower than banks for the last 3 months.
Credit card payments from Canada to Spain
Sending money with a credit card is quick, convenient, and typically more secure than other methods, thanks to backing by the issuing party. Some users may even be able to rack up reward points when making large transactions.
If you want to send Canadian Dollars to Spain with a credit card, Wise has been the top rated provider in our comparison system for the last 3 months, being recommended 79.7% of the time.
Credit card payments are often classified as cash advances, which bring their own charges, not to mention currency conversion and usage fees. And forgetting to pay your balance can result in high interest charges or even damage your credit score.
Debit card payments from Canada to Spain
Debit card payments let you send money from the Canada to Spain with the similar convenience of a credit card, and there are usually no tax advance fees. That said, when sending money from a debit card, you might still face currency exchange fees, processing fees, and other expenses, making this a pricier option than a simple bank transfer.
If you want to send Canadian Dollars to Spain with a debit card, Wise has been the top rated provider in our comparison system for the last 3 months, recommended 79.7% of the time.
Finding the best exchange rate for CAD to EUR
The mid-market exchange rate changes daily, so timing your transfer can make a big difference to how many Euros you can get for your Canadian Dollars. The average Canadian Dollar to Euro mid-market rate over the last month was 0.6806, with a low of 0.6756 and a high of 0.6867.
For comparison, the best exchange rate for CAD to EUR right now is through Wise, at a difference of -0.06%.
How we find the best transfer deals from Canada to Spain
We’ve compared the cost, speed, and product offering of the top money transfer services (including Wise) available between Spain and Canada.
We also produce unbiased, detailed reviews of all the top money transfer companies for sending Canadian Dollar to Spain, helping you in making smarter, simpler choices. We pride ourselves on our objective reviews, maintaining complete independence in our analysis and ratings.
Take a look at our comprehensive editorial policy for more information about our dedication to integrity and transparency.
