Easiest Way To Receive Money From Abroad in Spain

Table of Contents

Last updated on October 16th, 2026Why trust usDisclosure

Table of Contents

Your Spanish IBAN can receive money from abroad, including euros sent through a transfer company by someone paying in pounds or dollars.

For a pension or regular family payment, I suggest settling the receiving currency first, because automatic bank conversion can become a recurring expense.

You can also keep foreign currency in a separate account, collect cash at an agent or receive through an app you already use.

At a glance

Already have a euro account: share your account-holder name and IBAN.
Sender has pounds or dollars: compare conversion before the money reaches Spain.
Want to keep foreign currency: use matching currency details with a multi-currency account.
Need cash: Western Union collection includes participating Correos offices.
Receiving a gift: check the relevant regional tax rules, separately from the bank transfer.

Local receiving details for foreign income

9.2

Wise

Fees

0.1% - 2.6%

Exchange Rate Markup

Transfer Speed

Minutes - 24 hours

"Over 15 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."

Receiving and spending from matching currency balances

8.8

Revolut

Fees

0.3% - 1%

Exchange Rate Markup

0.1% - 0.6%

Transfer Speed

Minutes - 5 days

"Revolut has 70+ million customers globally. You can hold up to 25+ currencies in the app and send money quickly in 25+ currencies to 140+ countries."

US Disclaimer: Revolut is not a bank. Banking services are provided by Lead Bank, Member FDIC. Fees may apply. See revolut.com/en-US / for details.

Ways to receive money from abroad in Spain

Your receiving account and the service your sender uses are separate choices, so you can often keep your existing bank.

Here are the main ways to receive, depending on what you want to do with the money:

Method	What you share	When I suggest using it
Euro SEPA transfer	Account-holder name and IBAN	Money already held in euros
Transfer company paying euros	Your name and Spanish bank details	Sender needs to exchange another currency
International bank wire	IBAN, BIC and bank instructions	Pension, employer or institution pays through its bank
Foreign-currency account	Details for the specific currency	You want to keep GBP, USD or another currency
Cash collection	Name matching ID, then collection reference	You need cash without bank receipt
App payment	Registered account or phone details	Both people use a compatible service

A bank deposit requires a receiving account, while cash collection gives you a way to receive before you have one.

Receive euros into your Spanish bank account

A SEPA transfer delivers euros between participating accounts, including payments from countries outside the eurozone when the sending bank supports it.

For example, someone with a euro account in France can pay your Spanish IBAN without arranging a foreign-currency wire.

A Spanish IBAN starts with ES and contains 24 characters, so copy it directly from your bank rather than rebuilding it yourself.

Give the sender the following information for a standard euro payment:

Your full account-holder name, matching the bank account.
Your IBAN, copied from your banking app or account certificate.
A payment reference identifying the payment or recipient.

BIC is generally unnecessary for a standard SEPA transfer, although the sender’s service may request additional information in its payment form.

Your bank may provide a certificado de titularidad showing your name and account, which can help an overseas organisation verify the beneficiary.

I'd say start here for money already in euros, because opening another account adds work without necessarily improving the payment.

Ask the sender to arrange euro delivery

Wise, Remitly and Western Union are examples of services that can convert the sender’s money and deposit euros into a Spanish account.

You usually do not need to register with the transfer company, because your part is supplying the details of the account receiving euros.

The sender chooses Spain and bank deposit, enters your details and sees the amount expected to arrive before confirming their payment.

This gives you a way to compare the final euro amount with receiving foreign currency directly and letting your bank exchange it.

For a UK pension, ask the administrator which payment currencies and receiving accounts it supports before changing your payment instructions.

Some organisations offer their own overseas payment arrangement, so the available choice can differ from money sent by a friend or relative.

For money you control yourself, you can arrange the conversion from your overseas account and deliver euros to Spain through the chosen service.

Our international money transfer services in Spain guide covers the wider company choice when you are arranging a transfer yourself.

Property proceeds and larger payments

For substantial savings or property proceeds, a currency broker such as Currencies Direct can help coordinate conversion and payment into your Spanish account.

I suggest confirming the funding account, documents and delivery deadline before agreeing a rate, especially when a property completion depends on the money.

A bank deposit for your savings and a payment needed by a notary can have different instructions, so obtain the required details from the person handling completion.

Receive an overseas bank wire

An overseas bank can send directly to your Spanish account through SWIFT when the payment cannot use euro SEPA.

This suits payments where an employer, pension administrator or other organisation decides which bank handles the money and how it sends it.

Ask your bank for incoming international payment instructions, including whether your particular account accepts the currency and converts it automatically.

The sender will usually need these details for a wire:

Your full name and address.
Your Spanish IBAN and the bank’s BIC/SWIFT code.
Your bank’s name and any address or intermediary-bank instructions.
The payment currency, amount and reference.

Sending dollars to an ordinary euro account does not create a dollar balance, so establish the conversion arrangement before the first payment.

For repeat receipts, ask which exchange rate applies and whether incoming-transfer charges are deducted each time the money reaches you.

Receive and hold pounds or dollars

A multi-currency account in Spain can receive supported foreign currencies without exchanging the full payment into euros on arrival.

This can suit a pension you convert gradually, or income you partly spend abroad in the currency you receive.

Holding a currency leaves you exposed to exchange-rate changes, so delaying conversion does not guarantee a larger euro balance later.

Wise for local currency details

Wise gives you receiving details for supported currencies, including GBP, EUR and USD, with different instructions for local and international payments.

For example, a US payer can use your USD ACH details to send dollars that remain in your Wise dollar balance.

Local GBP and EUR payments and USD ACH receipts are free, while USD domestic wires and USD SWIFT payments carry a US$6.11 receiving fee.

You pay separately when converting the money, and moving it onwards can add a transfer fee depending on the payment.

I like this when the payer can use local currency details, because it gives you control over how much you exchange for living costs.

Revolut if receiving and spending share one account

Revolut lets you receive supported currencies into matching balances, then exchange or spend the money from the account you use day to day.

Open the relevant currency balance and share the local or international bank details shown there, rather than assuming every currency uses identical instructions.

Revolut does not charge for incoming bank transfers, although intermediary banks can deduct charges before the payment reaches your account.

Exchange costs depend on your plan and usage, so look at the conversion quote before treating free receipt as a free transfer overall.

Some Spanish banks also offer foreign-currency accounts, which can suit you when you want to keep the receiving relationship with your bank.

Check that the account accepts direct third-party payments in the required currency, rather than only transfers from another account in your own name.

Collect cash through Western Union or MoneyGram

Cash collection lets you receive without an IBAN, but you need an accessible agent and identification that matches the transfer record.

Western Union payments can be collected at participating Correos offices, while MoneyGram also offers cash collection through its Spanish agent network.

The sender must choose cash collection when creating the transfer, since a payment addressed to your bank cannot simply be collected over the counter.

For Western Union, bring accepted photo identification and the Money Transfer Control Number (MTCN) supplied by the person sending the money.

You may also need the sender’s name, origin country and expected amount, so keep the transfer confirmation available when you visit.

For MoneyGram, obtain the reference number and confirm the agent’s accepted identification before travelling to collect the payment.

Correos limits Western Union sending and payout to €3,000 per person per day, so larger receipts need another arrangement.

That is a Correos service limit, and other agents or sending services can apply different restrictions to the payment.

I'd say use cash collection when you need cash immediately or cannot access a bank account, after checking opening hours and transfer status.

Receive through PayPal, Revolut or Bizum

PayPal lets someone pay your registered email address, with the money arriving in your PayPal balance before you withdraw it to your bank.

Receiving a personal payment carries no PayPal fee when no currency conversion is involved, although the sender can face international charges.

Currency conversion and commercial payments have separate costs, so this is less straightforward for regular foreign income or payments for work.

If you both use Revolut, the sender can pay through your Revtag or registered contact details without creating an external bank transfer.

These options require an account with the app receiving the payment, unlike a transfer company sending euros to your existing bank.

Bizum also supports cross-border payments with participating BANCOMAT and MB WAY services in Italy and Portugal through the EuroPA connection.

You receive through your bank’s Bizum service using your registered phone number, provided the participating banks support the international connection.

I suggest checking this option for splitting expenses with someone in those countries, while using bank details for payers outside the supported network.

The money transfer apps in Spain guide covers the broader app choice, including services the sender uses without you needing the same app.

What does receiving money from abroad cost?

The amount you keep depends on the sender’s fee, the exchange rate and any charges deducted during delivery or by your receiving account.

Check these potential costs together before the sender makes the payment:

Cost	What to establish
Sending fee	Added to the sender’s payment or deducted from the amount
Conversion	Who exchanges the money and how many euros you receive
SWIFT deductions	Intermediary charges and the chosen sharing instruction
Receiving fee	Your bank’s tariff for that payment type
Using the balance	Conversion, withdrawal or onward-transfer charges

For example, BBVA’s standard tariff for covered incoming international transfers charges 0.40%, with a €21 minimum under SHA or BEN instructions.

A covered €500 receipt would therefore incur the €21 minimum, before any separate conversion or other applicable charges, unless your account terms offer better pricing.

Here is a comparison of transfer options using rounded sending amounts roughly worth €500 before fees, with the original amount visible alongside your euro receipt.

Last updated at 16/10/2026

GBP EUR

Mid Market Rate £1 = €1.1845

Transfer Amount £450

Remitly

TapTap Send

Revolut

£450.00

€534.47

£0.00

1.1877

-0.27%

Within a week

£450.00

€532.80

£0.00

1.1840

0.04%

Minutes

£450.00

€531.36

£0.00

1.1808

0.32%

Within minutes

USD EUR

Mid Market Rate $1 = €0.8905

Transfer Amount $600

Remitly

Revolut

Currencies Direct

$600.00

€534.66

$0.00

0.8911

-0.07%

Within minutes

$600.00

€531.97

$0.90

0.8879

0.29%

Within minutes

$600.00

€531.54

$0.00

0.8859

0.52%

Minutes - 24 hours

CHF EUR

Mid Market Rate CHF 1 = €1.0772

Transfer Amount CHF 500

Revolut

Wise

Currencies Direct

CHF 500.00

€537.38

CHF 0.00

1.0748

0.22%

Within minutes

CHF 500.00

€535.99

CHF 2.36

1.0771

0.00%

Within minutes

CHF 500.00

€535.75

CHF 0.00

1.0715

0.53%

Minutes - 24 hours

Check that the quoted receiving method fits your needs, then add any separate receiving-account charges that the transfer quote does not include.

For a bank wire, SHA shares charges, OUR puts the transfer charges with the sender, and BEN deducts them from the payment.

If you need an exact amount for rent or a purchase, ask the sender’s bank how it handles intermediary charges under the available instruction.

How quickly can you use the money?

A compatible SEPA Instant payment can arrive within ten seconds, while a standard electronic SEPA transfer normally takes up to one banking business day.

Cut-off times affect when the bank accepts an ordinary transfer, so a payment created late on Friday may start processing on Monday.

International bank wires can take several business days, especially when the payment passes through intermediaries or requires additional checks.

Transfer companies show a delivery estimate during setup, which depends on the sender’s payment method as well as the chosen way to receive.

Cash can be ready within minutes, but you still need an open agent with sufficient cash and an accepted form of identification.

For a regular pension, arrange the first payment before you depend on it for a bill, allowing time to resolve incorrect bank instructions.

How much can you receive, and what might your bank ask for?

The sending service and receiving account can apply their own limits, so check both sides before arranging a substantial one-off payment.

Your bank can ask where the money came from and why you are receiving it, including for payments below figures discussed online.

Prepare documents matching the reason for the transfer, rather than relying on the payment reference to answer every question:

Savings statements and the transfer trail for your own money.
A sale agreement or completion statement for property proceeds.
Pension statements or employment documents for recurring income.
Gift or inheritance documents identifying the parties and source.

For a large receipt, contact your bank beforehand and ask how to supply documents if the incoming payment is held for review.

Cash declarations are a separate rule

Spain’s declaration thresholds of €10,000 across the border and €100,000 within Spain concern movement of cash and specified payment means.

They do not turn an electronic bank receipt into a prohibited transfer or create a tax-free allowance for money arriving from abroad.

Is money received from abroad taxable in Spain?

The payment’s purpose and your tax position determine the treatment, so an incoming transfer alone does not tell you whether tax is due.

Moving savings you already own does not itself create fresh income, although the income or gains that produced those savings can have tax consequences.

If you are Spanish tax resident, foreign salary, investment income and pensions can fall within Spanish taxation, subject to exemptions and applicable tax treaties.

A gift from family can fall under inheritance and gift tax, even when the sender lives abroad and sends the money directly to your bank.

The relevant authority and relief depend on your circumstances, including regional rules, so do not assume every cash gift belongs on central AEAT Modelo 651.

For a substantial gift or overseas inheritance, establish the filing requirements before relying on a relationship-based reduction or regional tax benefit.

How to arrange your first incoming payment

For a repeat payment, agree the instructions once and retain a copy that you can check against each subsequent receipt.

Choose where the money should arrive

Decide whether you need euros in your Spanish account, a foreign-currency balance or cash collection before asking the sender to pay.

Copy the receiving details

Share your bank’s account-holder name and IBAN, the currency account’s specific instructions or the exact name shown on your collection ID.

Agree the net amount and timing

Ask the sender for the expected receiving amount and date, then check your own account’s incoming fee and conversion arrangement.

Save the receipt and documents

Keep the transfer confirmation and payment-purpose evidence, then complete any tax filing required for the underlying income or gift.

What if the money has not arrived?

Ask the sender for the receipt and expected delivery date, then compare the beneficiary details with the information supplied by your bank.

A payment marked sent may still be awaiting funding or processing, so the sender should first check with the sending service.

If the service confirms delivery, contact your receiving bank with the amount, currency, date and reference to check for an unallocated or held payment.

For a missing SWIFT wire, the sender should ask their bank to trace it and provide a payment confirmation or tracking reference.

If the bank needs source documents, supply them through its secure channel rather than asking the sender to create a duplicate payment.

If fewer euros arrive

Compare the sender’s promised amount with your account entry, checking for receiving charges, intermediary deductions and any currency conversion by your bank.

For the next pension or family payment, compare direct euro delivery with the current arrangement before accepting the same deduction every month.

Ask your sender to compare rates for the next payment into Spain, keeping any separate receiving-account charges in the total.

Our methodology & why trust us

We assessed receiving methods for Spanish accounts, including SEPA, foreign-currency wires, transfer-company deposits, cash collection and supported payments through apps.

Our research uses Banco de España guidance, Spanish bank tariffs, account terms and official AEAT information on foreign income and gifts.

Our inbound comparison uses rounded sending amounts near €500, with receiving-account costs assessed separately from the quoted transfer price.

I prioritised keeping an existing account for euro spending, with alternatives where retaining currency or collecting cash solves a different need.

Our money transfer review process explains the evidence used to assess companies and costs across MoneyTransfers.com.

Sources

Best money transfer apps

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Cheapest way to send money abroad

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Best money transfer companies

These companies cover bank payments, family transfers and cash services, with the right choice depending on how your recipient can receive money.

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Mobile money transfers

A mobile wallet gives you a balance or payment account accessed through your phone, with features that depend on the account behind it.

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Best multi-currency business accounts

The account lets you keep supported foreign receipts in their original currency, then decide whether to spend that balance or convert it into euros.

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