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

The exchange rate determines the price you’ll pay for CFA Franc BEAC when sending Euro to Cameroon.

The rate between the Euro and CFA Franc BEAC is currently 655.3191. Taptap Send offers the best exchange from EUR-XAF.

The EUR-XAF exchange rate is always moving.

Sometimes, waiting a day or two can help you get more XAF for the same amount of Euro. Using a forward contract that also allows you to lock in an agreed exchange rate between Spain and Cameroon.

Sending money via a bank transfer is the recommended option for sending money from Spain to Cameroon.

The company offering the best bank transfer price is Taptap Send.

This bank transfer to Cameroon is 1.64% cheaper than the second-best option in the market.

Spain and Cameroon have different regulations and you should ensure any provider you use to send or receive between the countries is regulated.

Our directory of financial regulators worldwide of key regulatory bodies highlights who can aid in keeping your money safe for money transfers between Spain and Cameroon.

Some services between Spain and Cameroon have minimum or maximum thresholds on how much you can transfer. This is applies when receiving money in Cameroon as well.

Companies will offer different rates and fees for different transfer amounts. For regular transfers to Cameroon, use Revolut. The combination of rates and fees when sending from Spain to Cameroon is the most competitive, even at larger amounts.

Also, always check with the recipient and understand any declarations needed on large amounts of money leaving Spain, or entering Cameroon. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive CFA Franc BEAC in Cameroon. This includes a direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all providers serving transfers from Spain to Cameroon will offer every method for incoming CFA Franc BEAC, so it’s best to check ahead of time.

One of the more common ways to transfer from Spain into CFA Franc BEAC is directly into a bank account. Taptap Send is the best company for bank transfers between Spain and Cameroon.

And if you need cash right away, check if cash pickup is an option for transfers between Spain and Cameroon.

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like Taptap Send.

When signing up to and sending Euro to Cameroon, through a money transfer company, you will have to verify your ID.

The precise documents you need will vary and in some cases you will need more than one.

For the most part however, in Spain this will be a government issued ID such as a passport or driver's license. In Cameroon it will be similar, although this should only be needed if you are opening a new account in Cameroon, or collecting in cash. Sending to an existing bank account in Cameroon shouldn’t require any additional ID checks.

Large transactions between Spain and Cameroon, are subject to additional checks. A provider may ask you for proof of address or may want to carry out a proof of funds check.

One of the reasons Revolut has scored so highly for transfers to Cameroon is their easy sign up process in Spain.

When sending large amounts of money between Spain and Cameroon there will potentially be a tax declaration to consider.

Some transfers into CFA Franc BEAC may need to be reported to tax authorities in Cameroon, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances will change in Cameroon based on age, income and a few other elements. When in doubt, please contact a tax professional in Spain or Cameroon to discuss your personal circumstances.