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Sending money to Spain

Our enduring love affair with Spain isn’t limited to a one-week holiday on a Costa each summer. Enticed by a life of sun, sea and sangria, British buyers bought 9,837 properties in Spain in 2022, which represented the largest segment of the overseas market. Whether they purchased a holiday home, an investment opportunity or retired there, this band of buyers had to make a series of international payments to secure their overseas property.

If you’re planning on joining them, you will want your money to reach Spain quickly and securely – so how do you send your money there? 

How to send money to Spain

People often default to their high-street bank when exchanging their pounds for euros and sending their money to Spain. They do so unaware that they won’t be getting the best value for their money or access to expert currency market knowledge. Banks typically offer higher transfer fees, less competitive exchange rates and rigid transfer services compared to using a currency specialist like Lumon.

We understand that fluctuating exchange rates can appear daunting, so we will assign you a dedicated account manager who can help you successfully navigate the unpredictable currency markets. Empowered by this specialist support, you can leverage tools that secure the price of your property amid this currency risk. 

What details do I need to send my money to Spain?

With Lumon in your corner, you will benefit from competitive exchange rates and a personal service. But before you can harness our offering, you need to know what details to provide to make an international payment.

Making a wire transfer to Spain is a straightforward process. To do it quickly and securely, either to your bank account in Spain or someone else’s, you will need to have the following information to hand:

  • Beneficiary’s name
  • Beneficiary’s bank name
  • Beneficiary bank’s SWIFT code: also known as a BIC number, this is used to identify their bank, similar to a sort code in the UK. It is made up of a combination of letters and numbers but always has the country code identified in the 5th and 6th digits, which for Spain is ES.
  • Beneficiary’s International Bank Account Number (IBAN): this must start with the country code (ES) and will comprise 34 alphanumeric characters. Our IBAN validator will also auto populate the SWIFT code, bank name and bank address.
  • Reason for transfer

Where can I find the necessary Spanish bank details?

If you are sending money to your own account in Portugal, your bank statements will provide all the necessary details – such as the account number and IBAN.

If you’re transferring money to Spain to purchase a property, your solicitor will provide the necessary bank details. Confirm the validity of this information with the solicitor before making your payment.

How long does it take to transfer funds to Spain?

Lumon typically makes payments to Spain via SEPA (Single Euro Payments Area) – a pan-European network that makes sending funds to European countries as easy as making a domestic bank transfer.

Transfers to Spain will typically arrive the same day, provided it’s made before the cut-off time of 12:15 BST, however we recommend settling your payment by mid-morning to ensure same-day payment. 

Once your payment is made you will receive a payment confirmation showing the amount sent, the recipient’s bank details and the value date – the date the money should clear in their account.

Are there any fees to send money to Spain?

You won’t be hit with any hidden fees when you purchase your euros and make your transfer to Spain with Lumon. Be aware that the recipient’s bank in Spain may charge a fee to receive the funds – although this is unlikely.

Will I get a competitive exchange rate?

Lumon offers competitive exchange rates, meaning our clients can make savings compared to using traditional financial services such as banks. As the chart below shows, the savings against the banks can be as much as 4% which on a transfer of £50,000 can mean you may end up with €2,277 more than if you used a traditional bank.

This chart is intended to represent the range of euro outcomes a consumer may achieve on a £50,000 transfer of pounds to euros, inclusive of fees and charges.

Comparison data for the high-street banks utilises pricing data provided under licence from FXC Intelligence (, a specialist benchmarking tool, for transactions in November 2023.

The Lumon rate is calculated by identifying the average margin across 73 spot GBP to EUR transactions with a value in the range of £25,000-£50,000 performed by Lumon Pay Limited and associated Group Companies (Lumon Risk Management Limited, Lumon FX Europe Limited) for personal customers during November 2023. The margin is calculated using the mid-market rate, obtained from on the day the transaction was performed.

How Lumon can help

Our comprehensive understanding of the international payments process has allowed us to help thousands of clients make quick, secure and cost-effective transfers to Spain – a comprehensive service that has earned us a 4.8-star Trustpilot rating.

You can create an online account with Lumon in just a few minutes. Once activated, simply input your beneficiary details and you can make international payments to Spain whenever you want, as often as you want. It is quick and simple and provides you with access to Lumon’s competitive pound to euro exchange rate.

Our robust anti-fraud measures add an essential layer of security to the international payment process. This includes the integration of two-factor authentication (2FA) into your online account access and international payments. This commitment to safeguarding your funds is reinforced by our compliance with relevant rules and regulations – a rigorous process that’s overseen by regulators like the FCA in the UK.