There are all sorts of reasons why you may want to send a significant amount of money to Spain.  Perhaps you’re buying a holiday home to enjoy a break from the English winter, or maybe you’re thinking of moving out there permanently and buying property in Spain. 

Whatever the reason, there are several factors to consider when you transfer your currency, and Eris FX can help you through the process and hopefully save you some money at the same time!

How much does it cost to send money to Spain?

The cost of an international bank transfer is made up of two elements; the transfer fee and the currency mark-up. Just looking at one of those won’t tell you the whole cost of the transfer. 

Eris FX complies with the regulations and shows its total costs as one amount, which we display as a percentage on our currency converter.  Click here to try it out.

How do I know when is the right time to do my transaction?

The simple answer is that no-one has a crystal ball, so it depends on your individual circumstances. If you need the money now, then you have no choice. However, if you have the luxury of time then you may want to look at recent price trends or aim for a particular exchange rate.

I’ve seen the terms “no fees” or “free transfers” – what does that mean?

They say there’s no such thing as a free lunch, and that’s also true for currency transfers! It costs about £7 to transfer money from the UK to Spain. If the provider isn’t charging a separate transfer fee, it just means they are building it into another cost, but you’ll still be paying somewhere.

How do currency firms make their profit when transferring money to Spain?

They take their costs off the exchange rate. 

How do I know I’m getting the best deal?

Here at Eris FX we show you our costs upfront on our website. We are able to do this because we charge exactly the same price to every customer for an identical deal.  However, other providers don’t do this so beware. You may find yourself having to haggle with a professional dealer before you know what price they will offer you.

Additionally, if you are looking to send money to Spain as a corporate currency transfer we also support international business payments.