How to send money to India from Spain with the best EUR-INR rate

The locutorio on the corner has been sending money home for decades, and for families who need to collect cash the same day, this is the best way.

Pay MoneyGram the €7,000 by card or transferencia, and they can collect cash in India.

Our data shows MoneyGram came out cheapest among in-person options on 100% of days in the past month.

Cash transfers are faster than online methods, but usually more expensive, so compare your options.

For medium sized or one-off transfers to India, an online money transfer service funded from your bank account is better than any bank.

Profee turns €7,000 into 742,597.78 INR with a €0 fee and -1.02% markup.

In our comparisons over the past month, it was the cheapest online service on 28 of the 28 days it quoted.

Currency brokers are best for sending €10,000+ to India. This can be things like selling property, moving a pension, moving back home, etc…

Currencies Direct charges no fee and works on a margin, with a person on the phone, and offices in Spain if you'd rather sit down with someone.

Our analysis shows Currencies Direct was the cheapest broker in 6% of the transfers from €5,000 it quoted.

If you often receive INR (things like pensions, payments, salary, dividends, etc…), this is the best way to do it.

Because a multi-currency account gives you account details to receive INR like a local and you can exchange it to EUR at any time.

The best multi-currency account in Spain with INR support is offered by Currencies Direct.

Over the past month, it came out cheapest among multi-currency accounts on 13% of days.

For example, converting €7,000 gets you 733,385.80 INR.

Companies like Wise Business, Payoneer, or Airwallex are best suited for businesses in Spain making payments to India.

You can pay suppliers and freelancers, process invoices, make batch payments, and much more.