Spain to Guinea money transfers compared

The exchange rate determines the price you’ll pay for Guine Franc when sending Euro to Guinea.

The rate between the Euro and Guine Franc is currently 9,101.5208. Wise offers the best exchange from EUR-GNF.

The EUR-GNF exchange rate is always moving.

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

Sending money via a Bank transfer is the recommended option for sending money from Spain to Guinea.

The company offering the best bank transfer price is TalkRemit.

This Bank transfer to Guinea is 0.3% cheaper than the second-best option in the market.

Spain and Guinea 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 Guinea.

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

Companies will offer different rates and fees for different transfer amounts. For regular transfers to Guinea, use Wise. The combination of rates and fees when sending from Spain to Guinea 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 Guinea. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive Guine Franc in Guinea. 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 Guinea will offer every method for incoming Guine Franc, so it’s best to check ahead of time.

One of the more common ways to transfer from Spain into Guine Franc is directly into a bank account. Wise is the best company for bank transfers between Spain and Guinea.

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

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 TalkRemit.

When signing up to and sending Euro to Guinea, 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 Guinea it will be similar, although this should only be needed if you are opening a new account in Guinea, or collecting in cash. Sending to an existing bank account in Guinea shouldn’t require any additional ID checks.

Large transactions between Spain and Guinea, 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 Wise has scored so highly for transfers to Guinea is their easy sign up process in Spain.

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

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

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