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

These are the current best options for sending €7,000 to Luxembourg:

Cheapest option

Use €7,000, pay by bank transfer and choose bank deposit for the payout. Your recipient gets 7,000 EUR, which is 0.01% more than the next best option.

Fastest option

With Revolut, a bank transfer payment to bank deposit gives your recipient 7,000 EUR in within minutes.

SEPA and SEPA Instant only work within the Eurozone, and Bizum largely operates in Spain.

Sending EUR to Luxembourg is different because it needs a currency conversion.

SEPA or SEPA Instant can be used to fund the transfer itself (since both are in EUR), but it does not guarantee instant transfer to Luxembourg.

Your bank or transfer company can ask for a justificante showing the source and purpose of a large or unusual transfer.

Keep the sale agreement for property, an invoice for tuition or a bank statement for savings.

Ask your bank to raise its own online transfer limit before the payment is due, rather than splitting a payment to avoid a check.

A payment or electronic-money institution is not the same as a bank, so do not assume its stored balance has bank deposit protection.

For bank deposits, protection normally comes from the deposit guarantee scheme in the bank's home country.

For a transfer service, check how customer money is safeguarded and avoid leaving a large balance there longer than needed.

When in doubt, use the Banco de Espana register to check the legal entity behind a transfer service.