10 Best Money Transfer Companies in Spain

Spain – the home to paella, Flamenco dancing, world-famous football clubs, and many other things. One of those things that happens to be the subject of our talk here are money transfer companies.

Whether you’re sending cash to your amigo in Valencia or paying your suppliers in Madrid, you’ll want a reliable and hassle-free way to transfer those euros. Or hey, maybe you’re running a business that involves multiple money transactions with partners around the globe. The point is, sending money in and out of Spain is as common as the famous “Messi vs. Ronaldo” debate.

Why go for just any old money transfer setup when you could choose one that’s safe, reliable, and doesn’t make your wallet shrink? Sending money internationally isn’t a game of Russian roulette. You don’t want to gamble on high fees, sluggish transfer times, or poor customer service. Let’s face it – your money’s journey should be as smooth as a sip of sangria.

For that reason, we’ve assembled a list of the 10 best money transfer companies in Spain that are most suitable for everyone who needs to transfer some cash to or from Spain. We’ll dive into all of their features and limitations right after we take a more in-depth look at the Spanish money transfer landscape.

How to Choose the Best Money Transfer Company in Spain

So, what makes a money transfer company a champion of financial services?

1. Look out for a fair fee structure – nobody wants to pay through the nose just to click a few buttons.
2. Next up is the exchange rate. Make sure it’s competitive, or you’re basically throwing money down the drain.
3. Transfer speed’s a biggie too. Time is money, and nobody wants to waste weeks just to get their money where it needs to go.
4. Then there’s customer service. Because when you’re stuck with several pending transactions for a few days, you’re going to want someone helpful on the other end of the line.
5. You’d want to look at the number of countries and currencies a company supports as well. Today, you might need to send some cash to neighboring Portugal, but tomorrow, you’ll need to do that to New Zealand, so being set up with a capable service won’t hurt at that moment.
6. And finally, always research other customers’ experiences. The more satisfied customers you meet online, the greater the chances of your chosen option to deliver the promises they make.

Overview of the Money Transfer Landscape in Spain

Current State and Growth of the Market

The money transfer market in Spain is hotter than a Malaga summer, and it shows no signs of cooling down. With an economy that’s as diverse as its tapas menus, Spain’s got a lot going for it – tourism, technology, agriculture, you name it.

That means plenty of cash flow in and out of the country, from both businesses and individuals. We’re talking billions of euros! Whether it’s expats sending money back home or businesses handling international transactions, the demand for swift, safe, and affordable money transfers is through the roof.

Oh, and let’s not forget the digital revolution. More and more people are going online for their money transfer needs. Physical kiosks are a pre-Covid thing.

Influencing Factors

So, what’s shaping the money game in sunny Spain? There are a couple of things, actually.

For starters, globalization is a huge factor. The more interconnected the world gets, the more cash needs to be moved seamlessly across borders. Spain’s position as a business hub in the EU also adds a layer of vigor to its money transfer scene.

Then there are remittances. Loads of Spaniards work abroad, and vice versa. In fact, remittances have a big impact on the Spanish economy as the country ranks eighth in the world in terms of remittance flow.

You can’t overlook tourism either. When millions of tourists flood in to run with the bulls or dance the night away in Ibiza, you bet there’s going to be a need for quick and efficient money transfers.

Regulatory Environment and Customer Protection

Navigating the maze of money transfer options can feel like a bullfight, but at least in this case, the regulatory “matadors” are on your side. Spain is part of the European Union, which means it’s bound by its regulations aimed at making financial transactions transparent, fair, and secure.

Companies need to be upfront about their fees and exchange rates. Hidden charges or sneaky tactics aren’t allowed.

And get this: customer protection measures are a big deal here. The Bank of Spain keeps a close eye on things, making sure all of these companies are on the up-and-up. If you’ve got a grievance, there’s a formal channel for that too, so you’re not shouting into the void.

Now that we’ve set the stage, let’s delve into the nitty-gritty and find out which of the 10 best money transfer companies in Spain is the right fit for your specific needs, Vámonos!

Comparison of the Top 10 Money Transfer Companies in Spain

Key Details

No.	Provider Name	Founded	Trustpilot rating	Countries Covered	Currencies Covered	Transfer Speed	Cash Pickup	Mobile App
1	Wise	2011	4.3	170	50	0-2 days (within minutes for over 50% of transfers).	No	Yes
2	CurrencyFair	2009	4.3	150	20	0-5 days	No	Yes
3	XE	1993	4.3	170	50	1-4 days	Yes	Yes
4	Currencies Direct	1996	4.9	200	70	1-2 hours within Europe; 1-2 days for overseas transfers.	No	Yes
5	Revolut	2015	4.3	200	29	Instant for Revolut users; 1-2 days for the rest.	No	Yes
6	MoneyGram	1940	4.5	200	60	Within minutes (cash transfers); 1-3 days (bank and debit card transfers).	Yes	Yes
7	Remitly	2011	4.1	180	75	Within minutes (express delivery); 3-5 days (economy delivery).	Yes	Yes
8	TorFX	2004	4.9	120	40	0-2 days	No	Yes
9	CurrencyTransfer	2015	4.8	170	28	1-4 days	No	No
10	WorldRemit	2010	4.1	145	70	0-2 days (within minutes in 95% of cases).	Yes	Yes

Fees, Rates, and Limits

No.	Provider Name	Transfer Fee	Exchange Rate Margin	Minimum Transfer Amount	Maximum Transfer Amount
1	Wise	Variable fee – 0.4% – 0.6% of total amount (on average); Fixed fee – £0.2 – £0.3 on average.	No markup is added to the mid-market exchange rate.	£1	$6,000,000 USD; $1.8 million AUD; $1.5 million CAD €6,000,000 EUR £5,000,000 GBP.
2	CurrencyFair	£2.50 (UK); €3 (EU); Currency equivalent for other currencies.	0.45% added to the mid-market exchange rate	£7 (or currency equivalent)	10,000,000 (same in every available currency)
3	XE	£2.00 under £250 (UK); €2.00 under €250 (EU); No fee for other sums.	0.2% to 1.4% added to the mid-market exchange rate.	£1	£350,000 (UK and EU); $535,000 (US); CAD $535,000 (Canada); NZD $750,000 (New Zealand).
4	Currencies Direct	No fee	0.4% to 1.4% added to the mid-market exchange rate.	£1	£25,000 through the mobile app; 300,000 by placing a special request.
5	Revolut	No fee for transferring to other Revolut users; Card transfers: 0.7% (if you’re in Europe) 2.3% (outside Europe) Bank transfers: fees can range between 0.35% and 1%.	A 0.5% – 2% markup is added to the mid-market exchange rate on weekends. There is usually no markup added on weekdays.	£1	Depends on the selected plan, the sending country, and the recipient country.
6	MoneyGram	Depends on the location, the sending amount, and the payment method. Can be as low as $0-$15 and as high as $100.	1% to 5% added to the mid-market rate.	$1	$10,000 per online transfer for most countries (with a $10,000 as a monthly cap); $25,000 for online transfers to 42 select countries from the US.
7	Remitly	$0.00 – $50 depends on the selected countries, the transfer amount, and the payment method ($3.00 – $7.00 on average).	1% – 2.5% added to the mid-market rate on average (can range between 0.5% and 3.7%).	$1	Depends on the sending and receiving country, the transfer amount, and the transfer method (from $3,000 to £150,000).
8	TorFX	No fee	1.9% – 2.7% added to the mid-market exchange rate.	£100 (or currency equivalent) (£500 for recurring money transfers).	No limit (£10,000 for recurring money transfers).
9	CurrencyTransfer	No fee	0.7% added to the mid-market exchange rate.	£5,000 (or currency equivalent)	No limit
10	WorldRemit	$0.99 – $3.99 depending on the transfer amount and the selected countries and payment methods.	0.5% – 2.5% added to the mid-market exchange rate (1% – 1.6% on average).	$1	Depends on the selected countries and method of payment (ranges between $1,400 and $60,000).

Review of the 10 Best Money Transfer Companies in Spain

1.  Wise

	Pros	Cons
1.	Comprehensive global service reach	Inadequate for large monetary transfers
2.	Fast money transfers, with half of all transactions completed in minutes and the rest within 0-2 days	Cash pickups aren’t an option
3.	No markups on exchange rates	Challenges with customer service
4.	Widespread local presence with branches in more than 28 countries	No support for lesser-known currencies
5.	Custom quotes are available without signup	Less-frequented countries and currencies might incur high transfer fees
6.	Ideal for small transactions	Lack of dedicated currency dealers
7.	Outstanding web platform and mobile app experience
8.	In-depth knowledge repository
9.	Highly rated on Trustpilot
10.	Diverse payment methods encompassing bank accounts, debit and credit cards, PayPal, and more
11.	Impressive currency support (over 50 currencies)

• Founded: 2011
• Headquarters: London, UK
• Trading Highs: First up, let’s talk numbers. Wise is killing it with an annual trading volume of a whopping £76.4 billion in 2022. And they’re laughing all the way to the bank with revenue just shy of £450 million for the same year. Those figures don’t just knock on the door of success – they kick it wide open;
• Trustpilot Rating: When it comes to Trustpilot, Wise isn’t just participating – it’s competing. A solid 4.5 out of 5 rating makes it one of the go-to options if you’re dipping your toes into the money transfer pool for the first time (or the hundredth);
• Client Count: Sixteen million clients can’t be wrong, right? Wise’s workforce of 4,500 employees caters to this ever-expanding clientele, and let me tell you, they’re not just collecting stamps – they’re making strong impressions;
• Global Reach: Think of a country, any country. Chances are Wise is already there, making financial dreams come true in over 170 countries and dealing in more than 50 currencies. It’s like the United Nations of money transfers;
• Transfer Limits: Whether you’re sending lunch money or buying a forgotten Picasso painting, Wise doesn’t discriminate. Their transfer limits stretch from a humble €1 to a jaw-dropping €6,000,000;
• Fees and Rates: Fees with Wise don’t need to be dreaded anymore. The company keeps it classy with a fixed fee ranging from €0.2 to €2, and a variable fee that floats between 0.4% and 0.6%. The best part is the absence of shady exchange rate markups. They match the mid-market rates, so you know you’re getting the real deal;
• How to Send and Receive: Swipe, tap, or click – Wise makes it easy-peasy. Use a bank account, credit/debit cards, or even Apple/Google Pay to send that cash. The lucky recipient gets it straight into their Wise account, where they can either let it sit pretty or transfer it wherever they please.
• Language Support: Feeling lost in translation? Not with Wise. Their platform is as multilingual as a Eurovision contestant, offering services in 15 languages;
• Regulatory Approval: Wise are considered an impregnable vault with gold stars from the National Bank of Belgium, the UK Financial Conduct Authority, and even the Financial Crimes Enforcement Network in the USA. That’s how safe they p[lay their game;
• Mobile App: Need to send money while you’re sipping cocktails on the beach? Wise’s mobile app has your back. With high ratings on both Android and iOS (4.7 / 5), you can transfer funds as easily as you can order a second round of tapas;
• The Trophy Cabinet: Wise isn’t just attending the awards show – they’re sweeping it. Best European Startup? Check. A regular on the FinTech50 list? You bet. Even Glassdoor gave them a shoutout as one of the top 20 best places to work in the UK;
• Customers’ Opinion: Of course, it’s not all sunshine and rainbows. While most users give Wise a thumbs-up for smooth transfers, there’s a murmur in the ranks about document requirements, delayed transfers, and customer service. The number of reviews pointing to deactivated accounts and inaccessible funds is going up. But, while no one’s perfect, with a resume this stacked, Wise is certainly a hard act to follow.

Read our full Wise review.

2. CurrencyFair

	Pros	Cons
1.	Adequate for both large and small money transfers	Absence of cash pickup service
2.	Excellent customer service	Poor user rating for the Android mobile app
3.	Impressive Trustpilot score	Limited options for transfer funding
4.	Quick international transfers	Lack of personal account managers for individual users
5.	Wide-reaching service coverage	Narrow range of supported currencies
6.	Fixed fee for money transfers
7.	Competitive exchange rates
8.	Awards for superb performance in the financial sector
9.	Alerts for exchange rate changes
10.	Instant personalized quotes

• Founded: 2009
• Headquarters: Dublin, Ireland
• Trading Highs: Step aside, folks, because CurrencyFair is bringing some serious muscle to the trading game with an annual volume of $300 million. It might not be the biggest fish in the sea, but it’s definitely one of the most agile;
• Trustpilot Rating: At a glance, CurrencyFair’s Trustpilot rating sits at a snazzy 4.4 out of 5;
• Client Count: 150,000 business and personal clients can’t be just a coincidence, can it? That many people putting their trust in CurrencyFair isn’t just luck – it’s a testament to a job well done;
• Global Reach: With a footprint in over 150 countries, CurrencyFair isn’t exactly limiting its horizons. However, when it comes to currencies, they play it a bit coy, offering around 20 options. It’s not about quantity, but quality;
• Transfer Limits: Low-key or high-key, CurrencyFair’s got you. With one of the industry’s lowest minimum transfer limits set at a mere €10, and a high-roller-friendly ceiling of up to 10 million in supported currencies, there’s room for everyone;
• Fees and Rates: CurrencyFair makes fee structures as complicated as a one-sided Rubik’s Cube – a straight-up €3.00 per transfer. And their exchange rate markup? A modest 0.45% on the real deal. Now that’s transparency;
• How to Send and Receive: If you’re all about that no-nonsense life, CurrencyFair should be your jam. Bank-to-bank transfers only, no hoopla. And for those with itchy feet, their mobile app offers 24/7 control over your finances, whether you’re hiking in the Pyrenees or lounging in Barcelona;
• Language Support: The folks at CurrencyFair speak a lean but mean list of languages – German, English, and French. Too bad Spanish isn’t supported yet;
• Regulatory Approval: With a regulatory squad that includes everyone from the Central Bank of Ireland to the Monetary Authority Singapore (MAS), CurrencyFair is as secure as a bulletproof safe;.
• Mobile App: CurrencyFair’s mobile app is a bit of a Jekyll and Hyde, scoring a lackluster 2.6/5 on Google Play but soaring with a 4.4/5 on the App Store. So, Android users should probably hang tight for the next update;
• The Trophy Cabinet: This dark horse has some shiny trophies on the mantle. Silicon Republic called them a “Top 100 Startup to Watch in 2018”, and they even snagged the title for “Best in Fintech” at the 2019 Spiders Awards;
• Customers’ Opinion: Overall, CurrencyFair gets rave reviews for its low fees, killer exchange rates, and high-security measures. But let’s keep it real – some users have gripes with customer support and account verification. Because even superheroes have their kryptonite. Given that, CurrencyFair can still be a top choice for your requirements, especially if you value a straightforward, no-frills approach to sending your hard-earned cash across the globe.

Read our full CurrencyFair review.

3. XE

	Pros	Cons
1.	Loads of experience under the belt	Sparse coverage of less-common currencies
2.	Handy exchange rate alerts feature	No solid cancellation policy in place
3.	Attractive exchange rates	Absence of dedicated account managers for all users
4.	Swift money transfers with 50% transfers processed within minutes	Small transfer fees are imposed on certain small money transfers
5.	Top-notch website and mobile app	Average Trustpilot rating
6.	Local presence in many locations worldwide
7.	Provides cash pickup service
8.	Extensive global reach
9.	Offers instant custom quotes
10.	A variety of payment methods
11.	Broad currency selection
12.	Stellar customer service

• Founded: 1993
• Headquarters: Newmarket, ‎Ontario‎, ‎Canada
• Trading Highs: When it comes to trading volumes, XE isn’t here to play games. With an annual trading volume of £115 billion in both small and large transactions, it’s clear that this is a company with a significant footprint in the global finance market;
• Trustpilot Rating: Don’t let the lack of flashy trophies fool you. With a solid 4.3 out of 5-star Trustpilot rating, XE is as reputable as they come in the international money transfer space;
• Client Count: XE is like that popular café everyone loves to frequent. With millions of customers over the years, the company now proudly serves approximately 150,000 clients annually and attracts an astonishing 280 million online visitors;
• Global Reach: While many money transfer services offer global coverage, XE kicks it up a notch. Serving over 170 countries, with only about 20 exceptions, and supporting over 50 currencies through a digital wallet, they’re one of the most versatile players in the industry;
• Transfer Limits: Want to send just €1? No problem. Need to transfer a huge sum? Well, if you’re in Spain, the UK, or anywhere else in the EU, you can send up to €350,000, and if you’re in New Zealand, you can go up to NZD $750,000. In other words, XE is like that accommodating friend who’s always up for whatever you suggest;
• Fees and Rates: Let’s talk about fees. XE charges for smaller European transactions but waves goodbye to those fees for transfers over £250 in the UK and €250 in Spain. Outside of Europe, feel free to send your money without any extra charges. Exchange rate markups are variable but remain within a reasonable 0.2% to 1.4% range above mid-market rates;
• How to Send and Receive: XE offers an all-you-can-eat buffet of payment methods: bank account, direct debit, credit/debit cards, and even some localized options like PayID and Interac. Receiving funds? You can either get it directly in your XE online account or pick it up in cash at one of their half-a-million global locations;
• Language Support: XE’s got a language support list that’s as varied as a United Nations summit, covering everything from Spanish and German to Japanese and Arabic;
• Regulatory Approval: Rest assured that XE takes regulations seriously. Overseen by financial authorities like FinCEN, OSFI, FINTRAC, FCA, and ASIC, you’re in safe hands with them;
• Mobile App: The app game for XE is strong, scoring 3.5/5 on Android and 4.3/5 on iOS. From tracking transfers to getting live exchange rate alerts, it’s an all-in-one finance tool for those on the move.
• The Trophy Cabinet: While it may not have a trophy-studded cabinet, XE did secure the prestigious International Money Transfers Outstanding Value Award from Canstar in 2021. Sometimes, quality speaks louder than quantity;
• Customers’ Opinion: A quick scan of reviews shows that XE excels in delivering competitive rates, low fees, and reliable services. Despite minor grumbles about higher rates and customer service, the overwhelmingly positive reception from over 50,000 recommendations ensures that these issues barely make a dent in their overall reputation. With that, XE remains a quality service that doesn’t need to shout about its achievements – their results speak for themselves. And when it comes to your hard-earned money, sometimes that’s exactly the kind of service you need.

Read our full XE review.

4. Currencies Direct

	Pros	Cons
1.	Swift transfers ranging from 1-2 business days	Mobile app transfers have a tight maximum limit
2.	Zero transfer fees	Some US states aren’t supported
3.	Stay in the know with exchange rate alerts	Not suitable for small money transfers
4.	Global service coverage for a borderless experience	The web platform and mobile app need improving
5.	Scoring high on Trustpilot (4.9/5)	Exotic currencies coverage is limited
6.	Years of experience with dedicated specialists	Deposit options might feel a bit limited
7.	Solutions that accommodate individuals and businesses alike	Instant custom quotes aren’t available
8.	Various payment options
9.	Extensive knowledge base for your every query
10.	Stellar customer service
11.	Solid currency coverage
12.	One of the best exchange rates on the market

• Founded: 1996
• Headquarters: London, UK
• Trading Highs: With an annual trading volume of £9.5 billion in 2021, Currencies Direct didn’t just have a good year – they had a spectacular one. They’ve clearly mastered the game of international money transfers;
• Trustpilot Rating: In terms of Trustpilot ratings, Currencies Direct is in the stratosphere with a 4.9/5, tying with other top-rated companies like TorFX and Send Payments. When nearly everyone gives you a high-five, you know you’re doing something right;
• Client Count: With 25 years in the business, Currencies Direct isn’t a new kid on the block. They’ve provided services to over 430,000 clients, and that’s not just mom-and-pop operations but also some major players in the corporate world;
• Global Reach: Think your destination country might be too obscure for money transfers? Think again. Currencies Direct operates in more than 200 countries and supports over 70 different currencies;
• Transfer Limits: The low minimum transfer limit of just $1 makes the service incredibly accessible. If you want to transfer more than £25,000, you’ll need to speak directly to a Currencies Direct dealer. With them, transfers can go up to £300,000 – suitable for both small and large financial needs;
• Fees and Rates: When it comes to transfer fees, you can put your wallet away – Currencies Direct doesn’t charge any. What about exchange rates then? Markups range between 0.40% to 1.40% and are added to the mid-market exchange rate, depending on the country and currency involved;
• How to Send and Receive: Sending money is a breeze with multiple options like bank accounts, checks, or credit/debit cards. However, recipients should have a bank account, as Currencies Direct doesn’t do cash pickups or alternative receiving methods;
• Language Support: Whether you speak Spanish, French, English, or even Chinese, Currencies Direct is fluent in your tongue, supporting ten languages to ensure smooth transactions;
• Regulatory Approval: Trust is key, and Currencies Direct holds approvals from multiple regulatory bodies including Spain’s Bank of Spain for the entire EU, the ACPR in France, the UK’s FCA, and the USA’s FinCEN;
• Mobile App: Don’t let the 3.5/5 rating fool you; their mobile app is robust, allowing for transfer tracking, setting up exchange rate alerts, and much more. Available for both Android and iOS, it keeps you connected to your finances;
• The Trophy Cabinet: Their mantle is well-stocked with awards, notably being named the “Money Transfer Provider of the Year” by Money Age Magazine for six consecutive years, and securing the “Best Rated Money Transfer” in 2019, 2020, and 2021 by Money Transfer Comparison;
• Customers’ Opinion: If you need more convincing, just look at the rave reviews. While no service is perfect – some customers have noted extra documentation or bank fees – most issues are industry-wide and not specific to Currencies Direct. And if you’re not happy with your account manager, you have the flexibility to request a new one. Overall, Currencies Direct blends experience, service quality, and a rock-solid reputation, making it a premium choice for all your international money transfer needs.

Read our full Currencies Direct review.

5. Revolut

	Pros	Cons
1.	An abundance of contemporary banking features	No cash pickup options
2.	Comprehensive suite of business-oriented features	A relative newcomer in the financial industry
3.	User-friendly debit card services	Complex fee structure
4.	Wide range of supported currencies for travelers	Inefficient for large-scale money transfers
5.	Exceptional customer support	Limited scope of in-app currency support
6.	Broad coverage of services globally
7.	Fast money transfers
8.	Option to trade in cryptocurrencies
9.	Attractive foreign exchange rates
10.	Virtual cards for secure online transactions
11.	Zero transfer fees for smaller transfers

• Founded: 2015
• Headquarters: London, UK
• Trading Highs: Revolut skyrocketed in 2022 with a mind-boggling $140 billion in transactions. From its humble beginnings as a startup, it has transformed into a fintech giant that symbolizes consumer trust;
• Trustpilot Rating: Boasting a robust 4.3 out of 5 Trustpilot score, Revolut’s high rating demonstrates that it has successfully turned its promise of seamless banking into a customer-approved reality;
• Client Count: Revolut commands the trust of a staggering 30 million individual users and over 500,000 businesses. With a community this large, they must be doing something right;
• Global Reach: Revolut knows no boundaries – literally. Available in 200+ countries and offering 29 in-app currencies with withdrawals in 140 global currencies, Revolut makes sure you’re financially comfortable, wherever you are;
• Transfer Limits: With no minimum and varying maximums based on individual plans and countries, Revolut offers unprecedented flexibility in money transfers. Your plan decides your limit, and chances are, you’ll like what you see;
• Fees and Rates: Revolut’s fee structure varies by transaction type and timing. Card transfers inside Europe incur a 0.7% fee, while outside Europe it’s 2.3%. Bank transfers range between 0.35% and 1% based on certain conditions. Weekday transfers under $1,000 see no markup, while anything over incurs a 0.5% markup. Weekends carry a markup of 0.5% to 2% based on the week’s mid-market rate;
• How to Send and Receive: Banking with Revolut is as easy as pulling out your phone. With options to send money through a bank account, debit, or credit card, funds can be received either in your bank account or directly on your card;
• Language Support: Revolut truly caters to a global audience, supporting a plethora of languages, including but not limited to Spanish, English, French, Chinese and Russian;
• Regulatory Approval: Security is paramount, and Revolut is regulated by reputable financial institutions globally, including the Bank of Lithuania, the Monetary Authority of Singapore, the UK’s FCA, and Japan’s Kanto Local Finance Bureau;
• Mobile App: Revolut’s app isn’t just functional. it’s also well-designed, boasting high ratings of 4.7 on iOS and 4.5 on Android. It’s the perfect blend of aesthetic and functionality;
• The Trophy Cabinet: Revolut hasn’t been shy in scooping up awards and recognition from distinguished platforms like LinkedIn, City AM Awards, and The Sunday Times. Their awards include “Innovation of The Year,” “Best FinTech Employer of the Year,” “Top Spot at The Startups 100,” and “Europe’s Allstar Company”;
• Customers’ Opinion: While Revolut has amassed overwhelmingly positive online reviews praising its user-friendly interface and competitive exchange rates, it’s not without a few hiccups. Some users have reported occasional glitches and slower customer service during high-demand periods. However, these minor setbacks haven’t dampened the overall strong sentiment for this fintech powerhouse. Revolut combines innovation, flexibility, and a strong reputation to always provide an unrivaled money transfer experience. Whether you’re an individual or a business, Revolut has something for everyone.

Read our full Revolut review.

6. MoneyGram

	Pros	Cons
1.	Outstanding customer support	Limited maximum transfer amounts
2.	Beneficial loyalty rewards program	Less ideal for handling large financial transfers
3.	A top-rated mobile application	Above-average exchange rate markups
4.	A vast range of payment methods	A possibility of substantial transfer fees
5.	Swift money transfer services	Lack of hedging options for businesses
6.	Diverse options for receiving funds
7.	Extensive global presence, covering over 200 countries and territories
8.	Impressive rating on Trustpilot
9.	Robust currency portfolio including 58 different currencies
10.	Extensive industry experience
11.	Availability of cash pickup

• Founded: 1940
• Headquarters: Dallas, Texas, US
• Trading Highs: Though exact transaction figures are kept under wraps, MoneyGram’s 2022 revenue of $1.3 billion suggests an enormous trading volume, making it one of the heavy hitters in the money transfer game;
• Trustpilot Rating: With a steadfast 4.5-star rating on Trustpilot, MoneyGram shows it’s not just about volume, but also about delivering quality service that earns consumer trust;
• Client Count: Over the past five years, MoneyGram has won the trust of a whopping 150 million people, indicating a broad and loyal customer base;
• Global Reach: MoneyGram is ubiquitous, boasting 380,000 locations across 200+ countries. If that doesn’t scream global reach, their support for around 60 currencies – including some rare ones – definitely does;
• Transfer Limits: The company sets no minimum limit on transfers and allows a maximum online transfer of €10,000 for most countries. For 42 select countries, if you’re transferring from the U.S., you can send up to $25,000 to Spain and other supported countries;
• Fees and Rates: MoneyGram’s fees vary depending on a multitude of factors, ranging from $0 to $100. Their exchange rates hover between 1% and 5% over the mid-market rate, making them slightly pricier but still more reasonable than most traditional banks;
• How to Send and Receive: Whether you’re using bank transfers, credit cards, or even cash, MoneyGram accommodates your preferred transaction method. On the receiving end, you can collect through bank accounts, debit cards, mobile wallets, or even cash pickup. Some locations even offer doorstep delivery;
• Language Support: For non-English speakers, MoneyGram offers support in several languages, including Spanish, Romanian, Chinese, Czech, Korean, Norwegian, Danish, Russian, Indonesian, Italian, Portuguese, Hungarian, Arabic, Ukrainian, French, Japanese, Thai, German, Polish, Malaysian, and Turkish, catering to a global clientele;
• Regulatory Approval: Regulated by institutions like the UK’s Financial Conduct Authority, the National Bank of Belgium for the EU, and Canada’s FINTRAC, MoneyGram ensures your funds are in secure hands;
• Mobile App: The MoneyGram mobile app is well-received on both iOS (4.9/5) and Android (4.7/5), making it convenient for you to manage transactions from the palm of your hand;
• The Trophy Cabinet: MoneyGram isn’t just in the game, they’re dominating it, as evidenced by their accolades, such as the PYMNTS Innovator Awards and a place on The Dallas Morning News’s Top 100 Places to Work;
• Customers’ Opinion: Users on Trustpilot commend MoneyGram for its speed, efficiency, and user-friendly services. While the general sentiment around their customer service is positive, some users do highlight higher fees and occasional tech glitches. Nevertheless, the overarching view is that MoneyGram offers a reliable and convenient money transfer service, even if it isn’t the most economical option on the market. The company combines a global presence with a robust and flexible service portfolio, catering to a diverse client base and living up to its reputation as a global money transfer heavyweight.

Read our full MoneyGram review.

7. Remitly

	Pros	Cons
1.	Instantaneous money transfers	No option for instant custom quotes
2.	Plenty of ways to fund your transfer	Not great for large money transfers
3.	Extensive global coverage	Doesn’t provide dedicated account managers
4.	Fixed transfer fees	Exchange rates can sometimes be substantial
5.	Top-tier mobile app
6.	A knowledge base that’s a treasure trove of info
7.	Decent Trustpilot rating
8.	Excellent customer service
9.	Deals with a heap of currencies
10.	Worldwide locations for cash pickup
11.	No minimum transfer limit when sending

• Founded: 2011
• Headquarters: Seattle, WA, USA
• Trading Highs: In 2021, Remitly impressively managed $20.4 billion in transactions, generating a revenue of $458.6 million. These figures speak volumes about the company’s robust service and popularity;
• Trustpilot Rating: With a 4.1-star rating on Trustpilot from nearly 40,000 reviewers, Remitly has carved out a solid standing in the world of international money transfers;
• Client Count: Remitly has garnered the trust of over 3 million active customers who depend on its services for their international money transfer needs;
• Global Reach: Residents of Remitly’s 28 listed countries can rejoice, as the company offers transfer services to a staggering 180 countries and supports 75 official currencies, including some of the more obscure ones;
• Transfer Limits: Whether you’re sending a single dollar or tens of thousands, Remitly has you covered. The maximum transfer limit can vary, ranging from $3,000 to $150,000, based on factors like destination and currency;
• Fees and Rates: Transfer fees can range from a nominal $0 to $50, with the typical fee falling between $3.00 and $7.00. As for the exchange rates, they usually stand at 1%–2.5% over the mid-market rate, but could sometimes go as low as 0.5% or as high as 3.7%;
• How to Send and Receive: Remitly offers multiple funding options such as bank accounts and credit/debit cards, among others. For receiving funds, choose from bank accounts, cash pickups, mobile wallets, or even home delivery – Remitly offers extensive flexibility;
• Language Support: For those who prefer navigating in a language other than English, Remitly’s website and customer support are available in 15 different languages including Spanish, French, German, Chinese, Italian, and Dutch, among others;
• Regulatory Approval: The company is regulated by several reputable institutions like the U.S. Department of the Treasury, the Central Bank of Ireland, the UK’s FCA, Canada’s FINTRAC, and Australia’s ASIC. This means you can transfer your money with confidence;
• Mobile App: With a high rating of 4.8 stars on Google Play and 4.9 on the App Store, Remitly’s mobile app is just a tap away for quick and easy transfers;
• The Trophy Cabinet: Remitly’s achievements are hard to overlook, from being crowned “Startup of the Year” in 2016 to landing a spot in Forbes’ FinTech 50 in 2019. Clearly, they’re no stranger to industry recognition;
• Customers’ Opinion: Remitly scores high on user satisfaction for its speedy transfers, user-friendly interface, and competitive fees. Though its Trustpilot reviews are overwhelmingly positive, a few users did mention occasional customer service and technical issues. However, these appear to be the exception rather than the rule. The company offers a versatile and reliable money transfer service that places a premium on customer satisfaction and regulatory compliance.

Read our full Remitly review.

8. TorFX

	Pros	Cons
1.	Exchange rate alerts option	Absence of instant custom quotes option
2.	Significant industry experience	Higher exchange rates compared to competitors
3.	Top-notch customer service	Limited support for uncommon currencies
4.	Zero transfer fees	Low limits on regular payment transfers
5.	Suitable for all kinds of money transfers
6.	Unlimited maximum transfer amount
7.	Numerous industry accolades
8.	Extensive global reach
9.	Quick international money transfers
10.	Impressive Trustpilot score
11.	A range of payment options for those with a UK bank account

• Founded: Founded: 2004
• Headquarters: Penzance, Cornwall, UK
• Trading Highs: Big numbers, big impact! TorFX manages an eye-popping £10 billion in annual trading volume. That’s a heck of a lot of global money transfers and currency exchanges, making them a heavyweight in the game. They’re not messing around;
• Trustpilot Rating: TorFX holds its own on Trustpilot with a dazzling 4.9 out of 5 stars. In the world of rates and reviews, they’re definitely throwing down the gauntlet for competitors like Currencies Direct;
• Client Count: They’ve won the trust of over 425,000 clients worldwide, and though they’re a bit of a UK darling, their clientele is truly global. So, they’ve been around the block, and they know their stuff;
• Global Reach: Talking about going global, TorFX sends money to more than 120 countries and deals in over 40 currencies. You’ve got your usual suspects – USD, EUR, GBP – but they also roll with more exotic options like AED and CZK. Yep, they’re as international as McDonald’s;
• Transfer Limits: Here’s where flexibility kicks in. Their minimum transfer limit is just £100, and there’s no ceiling, folks. You’re not confined to any maximum limit. With recurrent transfers, you can play between £500 and £10,000;
• Fees and Rates: No transfer fees? Sign us up! Though they do add a markup on the mid-market exchange rate – ranging between 1.9% and 2.7% based on the transfer size – it’s not going to break the bank;
• How to Send and Receive: Old-school bank transfers are the main course here. UK residents get some extra toppings like debit/credit card options, but those in Canada don’t have this luxury. And just so you know, your recipients will get their dough strictly via bank accounts. Mobile wallets and cash pickups aren’t supported;
• Language Support: TorFX keeps it simple with services offered exclusively in English. Hopefully, they’ll sprinkle in some more languages in the near future;
• Regulatory Approval: For the skeptics in the room, TorFX isn’t just another name. They’re recognized by the FCA in the UK, along with AFCA and AUSTRAC down under in Australia. So, they’ve got their regulatory ducks in a row;
• Mobile App: No need to be tied to a desktop. With TorFX’s Android and iOS apps, you can make transfers while sipping your latte or even while binge-watching your favorite series;
• The Trophy Cabinet: TorFX isn’t just collecting dust – they’re collecting all of the big awards. From “Best Business FX Provider” to “International Money Transfer Provider of the Year,” their trophy case is something to talk about;
• Customers’ Opinion: Lastly, what’s the buzz among users? Exceptional customer service, quick transfers, and user-friendly interfaces all around. But hey, nobody’s perfect – some clients do wish for broader currency options and a lower minimum transfer limit. Even then, TorFX has set the bar pretty high. They’re not just in the game – they’re dominating it. And that, dear reader, is why they made our list of the 10 best money transfer companies in Spain.

Read our full TorFX review.

9. CurrencyTransfer

	Pros	Cons
1.	Attractive foreign exchange rates	Limited currency coverage
2.	Strong rating on Trustpilot	Not suitable for small money transfers
3.	Notifications for exchange rate fluctuations	No mobile app
4.	Real-time personalized quotations	High minimum transfer limit
5.	Excellent client support	No local coverage
6.	Speedy transfer of funds	Limited payment options
7.	Zero fees on transfers	No multi-language support
8.	Wide range of options for businesses
9.	Worldwide service availability

• Founded: 2015
• Headquarters: London, UK
• Trading Highs: Back in 2015, this gem of a platform was juggling around $500 million in money transfers. Though the company is a bit secretive about their recent stats, it’s a safe bet that their trading volume has skyrocketed into the billions;
• Trustpilot Rating: In the Trustpilot Olympics, CurrencyTransfer is rocking the podium with a 4.9-star rating, sharing the top spot with big names like Currencies Direct and TorFX. Based on around 900 reviews, this company clearly knows a thing or two about making its customers happy;
• Client Count: Serving approximately 20,000 private and corporate clients, CurrencyTransfer isn’t just dipping its toes in the pool – it’s doing full-on cannonballs. These folks are dedicated to making your currency exchange and transfer game as smooth as silk;
• Global Reach: Get your globe out and start spinning – CurrencyTransfer operates in a whopping 170 countries. Their currency list, though, is a bit of a short story – just 28 currencies on offer. The major players are all there, but if you’re after the little guys, you might need to look elsewhere;
• Transfer Limits: Now, listen up. The £5,000 minimum transfer limit might be a turn-off for smaller transactions. But for the high-rollers among you, the sky’s the limit – literally, there’s no maximum. This makes CurrencyTransfer your BFF for big money moves;
• Fees and Rates: The best things in life are free, and so are CurrencyTransfer’s transfers. While they add a modest markup of about 0.7% over the mid-market rates, it’s still a steal compared to traditional banks that sometimes slug you with up to 7%. So, yeah, we’re calling it a win;
• How to Send and Receive: Old-school alert: You’re looking at bank-to-bank transfers only. No plastic cards, no PayPal, and no cash. So, keep that checkbook handy. And just to be clear, recipients will only see the transfer money in their bank accounts, managed by CurrencyTransfer’s partners;
• Language Support: For now, CurrencyTransfer is rocking the monolingual vibe, offering services only in English. So, brush up on your language skills or stick to the basics;
• Regulatory Approval: On the legal front, they’re authorized by the UK’s FCA and monitored by HMRC and ICO. So you can rest easy – these guys follow all of the rules;
• Mobile App: For the app lovers, sorry, CurrencyTransfer hasn’t joined that club, yet. But word on the street is that they’re likely to get with the program soon;
• The Trophy Cabinet: Although they’re still the new kid on the block, CurrencyTransfer has nabbed some serious accolades. Being recognized as one of the Top 9 Startups in 2014 and presenting at FinovateEurope the same year? Yeah, they’re not just making up the numbers;
• Customers’ Opinion: TorFX’s feedback is glowing. Users rave about competitive rates, transparent fees, and top-notch customer service. But, if you’re holding out for a multilingual mobile app, you might want to shop around. The company has come a long way, and it’s got the makings of a money-transfer superstar. And that’s why it takes one of the spots on our list of the 10 best money transfer companies in Spain.

Read our full CurrencyTransfer review.

10. WorldRemit

	Pros	Cons
1.	Small transaction fees	Not ideal for transferring large sums of money
2.	Excellent policy for transfer cancellations	Numerous criticisms pertaining to customer service
3.	Competitive foreign exchange rates	No personal account managers available
4.	Strong coverage of over 70 unique currencies	Lacks business solutions like forward contracts and limit orders
5.	Cash pickup services available
6.	Swift funds transfers
7.	An abundance of payment methods
8.	Comprehensive global service availability
9.	Wide local presence with offices in 15 nations
10.	Instant, personalized cost estimates
11.	Comprehensive and informative knowledge base
12.	Mobile digital wallet features

• Founded: 2010
• Headquarters: London, UK
• Trading Highs: Fasten your seatbelts! WorldRemit’s money-moving machine churns out around 1.5 million transactions a month. That’s $10 billion a year, folks. And with a 2021 revenue touching the cool $399.4 million mark, they’re not just playing – they’re slaying;
• Trustpilot Rating: WorldRemit’s got a solid 3.9-star average on Trustpilot. With a whopping 70,000 reviews, this platform is undeniably turning heads;
• Client Count: WorldRemit’s allure? It’s legit. Boasting 5.7 million happy customers and growing, this ship is sailing fast;
• Global Reach: Here’s where the magic happens. Launch your money from one of the 50 countries they operate from, and target any of the 145 destinations they serve. Their particular focus on the African continent is a welcome touch, making money transfers a breeze with over 70 currency options;
• Transfer Limits: Whether you’re counting cents or splashing out, WorldRemit has a spot for you. Transfer as little as a single euro or swing big with limits that stretch from $1,400 to an impressive $60,000. The only catch? The limits vary based on where you’re sending to and in what currency;
• Fees and Rates: WorldRemit’s fees are practically tiny. We’re talking between $0.99 to $3.99. Plus, with a markup of just 1% to 1.6% over the mid-market rate, they’re the real MVPs of the money transfer scene;
• How to Send and Receive: With WorldRemit, choices are everywhere! They’ve got your back whether you’re a bank account aficionado, an Apple Pay enthusiast, or you swear by options like POLi and Klarna. On the other side, the recipient has a variety of ways to get their cash, whether directly in a bank, through a mobile wallet, in person, or even right at their doorstep;
• Language Support: For the worldly linguists among you, WorldRemit caters in Spanish, French, English, German, Danish, and Dutch;
• Regulatory Approval: WorldRemit is recognized and given the nod by a lineup of regulatory heavyweights worldwide. Think the National Bank of Belgium, the FCA, FinCEN, FINTRAC, AUSTRAC, FSA, and more;
• Mobile App: This money transfer provider’s app game is quite strong. With ratings of 4.7 and 4.8 stars on Google Play and the App Store, respectively, it’s clear that WorldRemit’s users are loving the mobile experience;
• The Trophy Cabinet: The awards on WorldRemit’s shelf aren’t just tokens – they’re stamps of excellence. From nods by the United Nations to applause from Deloitte, the Sunday Times, and even the BBC, they’ve got their winning groove on;
• Customers’ Opinion: WorldRemit’s track record is mostly golden with users praising its affordability, transparency, and user-friendliness. Sure, there are some who’ve faced transfer hiccups or longer waits on customer support, but the majority are singing WorldRemit praises all day long. So, as we conclude our tour of the best money transfer companies in Spain, WorldRemit makes its mark as a platform that’s not just about numbers but about connecting the world, one transaction at a time.

Read our full WorldRemit review.

Conclusion

In a world, where digital transactions are increasingly becoming the norm, the ability to seamlessly and securely transfer money across borders is paramount. Whether you prioritize fees, exchange rates, global reach, or user experience, the diverse offerings of these money transfer services ensure there’s something for everyone.

Each provider on this list has its own unique strengths and weaknesses, but what they all share is a commitment to simplifying international money transfers, making it more accessible and efficient for users around the globe.

Spain, like many other European countries, is witnessing a digital transformation in its financial services sector. As the fintech industry continues to expand, traditional financial systems are gradually giving way to more agile, cost-effective, and user-centric solutions.

Mobile apps and online platforms are making international money transfers easier than ever, and with the invention of blockchain technology and digital currencies, we can expect even faster and more secure transfers in the near future.

Given that, Spain is poised to become a hub of innovation in digital money transfer services, shaping not only the future of the nation but influencing global trends as well.

F.A.Q.

Which of the 10 best money transfer companies in Spain is best for quick transfers?

If speed is your priority, MoneyGram often stands out for its swift transfers. However, the quickest service can vary depending on the countries involved, so it’s essential to compare transfer times for your specific needs.

I’m concerned about fees. Which service offers the lowest?

Fees vary by transaction amount, countries involved, and payment methods. For lower fees within Europe, Revolut has a competitive fee structure. For stateside transfers, MoneyGram can offer fees as low as $0-$15 based on certain conditions.

Which service has the highest Trustpilot rating?

Currencies Direct, TorFX, and CurrencyTransfer sport a solid 4.5 stars on Trustpilot, making them the highest-rated among the services mentioned in this article.

I need to transfer a large sum. Which service can handle that?

Remitly has a broad range of maximum transfer limits, going up to $150,000 depending on several factors like destination and currency. It’s advisable to consult directly with the service for large transfers.

Is language support a major concern? What are my options?

If language support is crucial for you, most of the providers on this list offer an extensive array of languages, so take a look at each separately and decide which one suits you the best.

What future developments can we expect in Spain regarding money transfers?

Spain is rapidly becoming a hub for fintech innovation. You can expect advancements in blockchain technology and digital currencies, which will make international money transfers even faster and more secure.

How do I know these services are secure?

All the services mentioned are regulated by esteemed global financial institutions (often by the Bank of Spain), ensuring that your money is in safe hands. Always double-check for the latest regulatory approvals to confirm.

Do any of these services offer mobile apps?

Yes, the majority of the services featured here have mobile apps with high ratings on both iOS and Android, enabling you to make transfers conveniently from your smartphone.

Which service is best for businesses?

Revolut, Currencies Direct, and TorFX, cater to over 500,000 businesses, offering varied maximum transfer limits based on plans and countries. They’re particularly known for their adaptability and could be an excellent choice for businesses.

Are there any common complaints I should be aware of?

While all these services generally receive positive reviews, some users have noted occasional app glitches and slow customer service during high-demand times. It’s always wise to read recent reviews to get the most current user feedback.