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

Comparing the different providers offering services between Spain and Senegal, is the best way to send money with confidence.

Right now, for EUR/XOF

• Revolut is our top choice for EUR to XOF transfers. Transferring 7,000 EUR to XOF will cost you €70.5 in fees, and your recipient will get 4,510,348 XOF.

• Sendwave offers the cheapest combination of low fees and competitive exchange rates of the 5 providers we compared. They offer a fee of 0.00 EUR and exchange rate between EUR-XOF that is -0.08% different to the mid-market rate.

• Fastest money transfers from Spain to Senegal is with Taptap Send. Based on our recent data, transfer time for a €7,000 transfer to Senegal with Taptap Send is minutes. This can vary by amount and method, but it is a good point of reference.

The 5 providers we've compared ensures you will get the best options for your transfer to Senegal from Spain. By taking the time to compare you can save yourself in the region of 3% of the total transfer amount.

Whilst we rate Revolut as the best overall, comparing gives you a comprehensive view of all the options for transferring Euro to Senegal.

The exchange rate determines how much CFA Franc BCEAO you will get for every Euro you want to send. A better exchange rate is the best way to save money on transfers from Spain to Senegal.

Fees and exchange rates make up the total cost of sending money from Senegal to Senegal. Finding a company that can offer both ensures a good deal on your transfer.

• The Mid-Market and Exchange Rates: The current EUR-XOF mid-market rate is 656.125 XOF per Euro. You will get more CFA Franc BCEAO for your Euros if you find a provider close to this number.

• Fees: Transfer fees are charged as part of the transfer. Sendwave charges 0.00 EUR per transfer, which is currently the best deal on transfers to Senegal. We’d always recommend comparing providers for your exact send amount as fees may change.

• Amount Received: Money transfer companies will show you the amount of CFA Franc BCEAO eventually received in Senegal. You can assume that a lower cost of sending from Spain will result in more money received in Senegal.

The current rate between the Euro and CFA Franc BCEAO is 656.125.

With currencies, the exchange fluctuates constantly, and the EUR-XOF exchange rate is no different. Tracking the rate and understanding the averages can help get a better deal.

Even waiting a day or two can help you get more XOF for the same amount of Euro.

Beyond this, a forward contract allows you to lock in an agreed exchange rate between Spain and Senegal.

The most cost effective way to send money from Spain to Senegal is via a debit card. Sendwave is the company offering the best price for a debit card.

Here are all the ways to send money from Spain to Senegal:

Bank transfers

Bank transfers are often the fastest option, and normally the cheapest, for sending money from Spain to Senegal.

By opting for a money transfer company such as Regency FX for transfers from Spain to Senegal, you can send money via a bank transfer while benefiting from lower fees and more favorable exchange rates. 


Debit and prepaid cards

Using a debit card, or prepaid option, for sending money from Spain to Senegal is easy with WorldRemit.


WorldRemit is a market leader in debit card payments for transfers from Spain to Senegal, this is among a total of 5 money transfer companies compared.

Credit cards

When it comes to the credit card deposits, when sending money from Spain to Senegal, we recommend comparing your options to get the best deal.

Regulations are important for keeping your money safe, Spain and Senegal have different regulations to consider.

Our directory of worldwide financial regulators contains details on regulation for money transfers between Spain and Senegal.

Some companies offering money transfers between Spain and Senegal will come with minimum or maximum thresholds on how much you can send or receive and this could cause rates or fees to change.

Comparing EUR-XOF rates for your specific transfer amount will factor in these rates and fees changes, so you’ll get the best provider for your specific needs. For regular transfers from Spain to Senegal, it’s best to check any changes in fees and rates every time you send.

For large transfers of money transfers from Spain to Senegal we’d recommend Revolut. They offer a competitive combination of rates and fees when sending from Spain to Senegal, even at larger amounts.

Also, be sure to check with the recipient and understand any declarations needed on large amounts of money entering Senegal from Spain.

Receiving CFA Franc BCEAO in Senegal has a few different options. The most popular ways to receive are through a direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all companies offering money transfers from Spain to Senegal will cater for every method for incoming CFA Franc BCEAO, so it’s best to check ahead of time.

One of the more popular ways is sending money from Spain directly to a bank account in Senegal. This is because it means the recipient in Senegal has to do very little. Revolut is the best company for bank transfers between Spain and Senegal.

Whilst cash pickup is popular, it is not always supported and can be costly compared to cheaper options.

Mobile wallet or P2P services and payment apps like PayPal, Xoom, and CashApp operate in Senegal and are popular because of convenience, but they come with more limitations and higher costs compared to money transfer providers like Sendwave.

When using a money transfer provider to send Euros to Senegal, you will need to verify your ID at the sign up stage.

Documents needed will vary and in some cases you might need a couple of options.

Generally speaking, those in Spain can verify through a government issued ID such as a driver’s license or passport. If the recipient needs an ID to collect money or open a multi-currency account in Senegal, both can also be used there as well.

Large transactions between Spain and Senegal will be subject to additional security measures such as proving where the funds originated, these will be for anti-money laundering purposes.

Revolut has scored highly for transfers to Senegal because of the easy sign up process in Spain.

There will be tax declarations to consider when sending larger amounts of money between Spain and Senegal.

Transfers into CFA Franc BCEAO may need to be reported to tax authorities in Senegal as well, where regular income, large amounts (such as property or inheritance) and business payments will all be subject to tax checks.

Based on the recipient, tax limits in Senegal, as well as personal allowances will change. When in doubt, we’d recommend contacting a tax professional in Spain or Senegal to discuss your personal circumstances. This ensure you are not missing any specific tax declarations associated with your circumstances.