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Overall best way: Wise
Wise scored the highest of the 22 money transfer companies supporting EUR to GBP transfers.
In total, Wise appeared in 97.2% of Spain to United Kingdom searches.
For a great mix of cost, speed & features, we advise using Wise for your Spain to United Kingdom transfer.
How to compare companies offering money transfers from Spain to United Kingdom
- Always compare rates
Use our live comparison tool to make sure you aren't missing the best rates to send money from Spain to the United Kingdom. This ensures the best price.
- Choose a provider
Select the company that offers you the best value & options for sending to the United Kingdom.
- Click, sign up & send
Sign up & make your transfer. Your funds will soon be on their way from Spain to your chosen country & currency.
Summary of recent searches
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Considerations for sending money from Spain to United Kingdom
Always compare ways to send money from Spain to the United Kingdom to get the best options for fees, speed, and reliability.
Our analysis included 22 providers that operate between Spain and United Kingdom.
Through this, you get a comprehensive view of all the options you have in Spain when you need to send money to the United Kingdom.
Cheapest way to send money to the United Kingdom from Spain: Revolut
The cost is a combination of an average fee of 0* EUR and an exchange rate for converting Euro to Pound Sterling that is 0.05% different to the mid-market rate.
On average, Revolut is 0.2% cheaper than the second-best option.
We would recommend Revolut for low cost, affordable transfers from Pound Sterlings to United Kingdom.
*The most common fee applied to EUR-GBP by Revolut, based on data from the past six months.
Fastest money transfers to United Kingdom from Spain: Wise.
Through our research, we found Wise to be the quickest way to send EUR into Pound Sterling in 35.6% of instances. For fast transfers between EUR and GBP, Wise is generally a good option.
Money transfers from Spain to the United Kingdom through Wise have an average fee of 244.41 EUR.
To confirm that Wise was the 'fastest' option we compared 22 money transfer providers for overall speed of sending money from Spain to the United Kingdom. This was made up of depositing Euro to a money transfer account and transfer times to the United Kingdom.
When sending quickly is a priority, Wise is our recommended choice for sending into United Kingdom from Spain.
Transfer a large amount of money
Wise is the strongest option for large transfers of the 22 money transfer companies tested.
Whatever the reason is for the transfer, sending large amounts of money from Spain to the United Kingdom can become expensive through your bank or with the wrong provider.
Our data shows Wise as the best choice for sending large sums of money to the United Kingdom from Spain.
Tax implications on transfers from Spain and into the UK
When receiving money in the UK from Spain, the recipient should be aware of any legal and tax implications of the transfer.
Depending the type of transfer being received, obligations in the UK will differ.
There are also potential tax reliefs that those receiving money in the UK from Spain should be aware of.
These are:
Type of Income/Tax | Declaration or Relief | Details | Monetary Values |
|---|---|---|---|
Employment Income | Declaration | Salary or wages received from abroad are subject to UK income tax. | Tax rates: 20%, 40%, 45% based on income. |
Self-Employment Income | Declaration | Payments from clients abroad are subject to UK income tax. | Tax rates: 20%, 40%, 45% based on income. |
Pension Income | Declaration | Overseas pensions are subject to UK income tax, with possible exemptions depending on tax treaties. | Variable based on pension income. |
Foreign Investments | Declaration & Relief | Gains from selling overseas assets are subject to capital gains tax, with relief under double taxation agreements. | Tax-free allowance: £12,300 (2023-2024). Tax rates: 10% or 20%. |
Gifts and Inheritances | Declaration | Subject to UK inheritance tax, especially if the deceased was a UK domicile. | Threshold: £325,000. Tax rate: 40% above threshold. |
Foreign Dividends | Declaration & Relief | Subject to UK income tax, with possible relief for foreign tax paid. | Tax-free dividend allowance: £1,000. Tax rates: 8.75%, 33.75%, 39.35%. |
Foreign Interest | Declaration & Relief | Interest from foreign accounts is subject to UK income tax, with possible relief for foreign tax paid. | Tax-free savings allowance: £1,000 (basic rate), £500 (higher rate). |
Double Taxation Relief | Relief | Relief against UK tax liability for foreign tax paid on the same income. | Varies based on foreign tax paid. |
Remittance Basis (Non-Domiciled) | Declaration & Relief | Tax on foreign income and gains only if brought into the UK, with specific rules and charges. | Annual charge: £30,000 (residents of 7 out of 9 years), £60,000 (residents of 12 out of 14 years). |
Reporting Requirements | Declaration | All foreign income and gains must be reported to HMRC via self-assessment tax return. | Penalties and interest for non-compliance. |
Understanding the cost of moving money to United Kingdom from Spain
The total cost of money transfers to the United Kingdom from Spain, is a combination of exchange rates and fees. Sending with a company that can offer a good competitive rate and low (or no) fees is the best way to get a good deal.
The Mid-Market and Exchange Rates: The current mid-market for EUR-GBP is 0.8347 GBP per Euro.
Using a transfer company offering an exchange rate closer to this will result in being able to buy more Pound Sterling for your Euros.
On average for the last three months, the EUR-GBP mid-market rate has been 0.8429 GBP per Euro. This hit a high of 0.8615, and a low of 0.8266.
From the 22 companies compared, Wise offers the best exchange rates.
The biggest factor in the overall cost of sending money is the exchange rate you receive on converting EUR to GBP.
Fees: Some money transfers between Spain and the United Kingdom will be subject to fees. Regency FX has had an average fee of 0 EUR per transfer over the last 6 months. Although, you should search for your send amount for actual fees as your scenario may be different.
Amount Received: Money transfer companies will show you the amount of Pound Sterling eventually received in the United Kingdom.
This number should guide you, as a higher amount of money received in the United Kingdom means a better overall cost of sending money from Spain.
How to find the best exchange rate for Euro to Pound Sterling
Timing is essential for sending money between EUR and GBP. The exchange rate you secure impacts how much GBP you get for your EUR.
Let's dive into some interesting recent trends.
Over the past six months, the exchange rate from EUR to GBP has seen some fluctuation. On average, it stood at 0.8429.
During this period, the highest value recorded was 0.8615, while the lowest was 0.8266.
Wise, which is our recommended service to send money online from Spain to United Kingdom offers an exchange rate that is only 0% above the mid-market rate.
Want to secure the best EUR-Pound Sterling exchange rates?
Sign up for our rate alerts and we'll tell you when it's the best time to move your money from Spain to United Kingdom!
Payment options for Spain to United Kingdom money transfers
Bank transfers in the UK
Bank transfers are usually the best and easiest way to send money from Spain to the United Kingdom.
By using a money transfer company such as Revolut for transfers from Spain to the United Kingdom, you can send money via a bank transfer while benefitting from lower fees and more favorable exchange rates than you would get from a traditional bank.
Revolut is the cheapest money transfer company for bank transfers from the 22 we compared for transfers from EUR into the United Kingdom.
With an average fee of 1.51 EUR to send money from Spain to the United Kingdom, Revolut offers a strong combination of competitive exchange rates and lower fees.
Debit cards and prepaid options
Sending money from Spain to the United Kingdom with a debit or a prepaid card is available through Xe.
Xe is one of the cheaper options for debit card payments for transfers from Spain to the United Kingdom. This cost is against a total of 22 money transfer companies offering this option.
Credit cards
When it comes to international credit card transfers from Spain to the United Kingdom, Xe emerges as our top choice of the 22 companies offering this service.
Be aware of fees: using a credit card to transfer money often results in a fee being charged by your card issuer. Where possible, we recommend a bank transfer or debit card payment.
Opt for a multi-currency account to receive into GBP
There are receiving fees to be aware of in the UK when receiving international transfers from Spain. These are specific to using a bank account to receive money. Incoming transfers are also subject to conversion into GBP as well in some scenarios.
Bank
Receiving Fee
Details
Santander
No fee
Santander does not charge a fee to receive an incoming international payment. However, intermediary banks and exchange rate markups may apply additional costs.
NatWest
£1 - £5
NatWest charges between £1 and £5 for receiving international payments. Additional agent fees may apply depending on the intermediary banks involved.
HSBC
£4 - £9
HSBC charges £4 for online payments to another HSBC account and £9 to non-HSBC accounts. Their Global Transfer service allows fee-free transfers between global HSBC accounts.
Lloyds
£7
Lloyds charges £7 for receiving payments over £100. Payments in pounds from within the EU to their Basic Account are fee-free.
Barclays
£6 - £15
Barclays charges £6 for online international payments and £15 for payments arranged in branch or by telephone. SEPA payments made online are fee-free.
When receiving (or sending) payments regularly, it can pay to have access to a multi-currency account. This will give you local account details and reduce the time, and cost, of transferring money.
How we analyze the market
We track the cost, speed, and product offerings of the leading money transfer services available between United Kingdom and Spain.
Our comparison engine and algorithms evaluate providers based on over 25 factors, including transfer fees, ease of use, exchange rates, mobile apps, transfer times & customer support.
We also consider how these services are rated on platforms like TrustPilot, AppStore, and Google Play, giving you a comprehensive view of what to expect.
This thorough analysis helps you get the best available deal - every time you want to move money from Spain to United Kingdom.
We also provide unbiased and detailed reviews of all the top money transfer companies. You can use these reviews to send EUR to GBP.
For a deeper understanding of our commitment to integrity and transparency, we invite you to read our editorial policy document.
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