International money transfer resources

Send money to Spain

Article by Mozo

If you have a business transaction to make in Spain, want to purchase property there or have money to send to a relative or friend, then brushing up on making an IMT or International Money Order is what you need to do. Good thing you’ve come to the right place!

Mozo illustrates how transferring money to Spain can be simple and quick. Some people see Mozo as a one-stop-shop for various matters, especially when it comes to money, so makes sure you bookmark us as your favourite!

When it comes to comparing international money transfer provider services to answering FAQs about money transfers, we offer an unbiased comparison on who will offer you the best rates and fees. This information is updated daily so be sure to check back regularly so you don’t miss out on any great rates.

Want to transfer money to euros for your next holiday to Spain? Then you need to visit Mozo’s Travel Money section. There you’ll find a lot of great information on the dos and don’ts when traveling as well as the best travel cards and exchange rates around.

Compare exchange rates for Euro and IMT provider options

Just select the amount of Australian dollars you want to exchange and Mozo’s IMT comparison tool will give you an estimate of how many Euros you’ll get with today’s exchange rates. Our service updates euro exchange rates every hour.


How do I actually transfer money to Spain?

An IMT or an International Money Transfer is possible when you transfer money from account to account. Converting Australian dollars to euros means you can transfer them anywhere in the Spain. From Barcelona to Almeria, providing you have your recipient's bank ID numbers and their account details, then you can transfer anywhere you like in the Spanish-land.

Not only will various numbers like bank ID and recipient's account details be needed to verify the transaction, but it helps direct the money exactly where it needs to go. With an IMT, your money is safe from start to finish. You can use one of the following agents to transfer money from Australia to Spain:


For most, probably the most obvious vehicle in transferring money from one place to another. But it certainly not the only way! Banks have a reputation of being safe, but when it comes to fees and exchange rates, banks also have the reputation of being expensive.

Pros: Respectable brands you’ve known for years.

Cons: Usually higher transfer fees than other agents or financial providers. May not be convenient with their availability, especially if you can’t visit a branch during business hours.

Foreign Exchange Specialist

While banks are financial generalists, Foreign Exchange Specialists are just that - specialists. Also known as Specialist FX, these are companies that specialise in foreign exchange. Because they exchange foreign currency on a regular basis, it means that they may have a better rate than your average bank. If you can save a bundle, why not?

Online IMT and foreign exchange providers like TorFX, HiFX, OFX offering expert service and support at a reasonable price. Unlike some financial institutions, many Special FX agents don’t have minimum transfers, allowing you to transfer money to pay for your auntie’s small gift for her birthday, or a large amount to help her with her home renovations in Spain. Ah the choices!

Remember, online transfers are available 24/7 which means that there’s likely to be online help.

Pros: Safe and fast and cheaper international money transfer

Cons: Currencies fluctuate each day, so trading the Aussie dollar for Euros may be great one day, but not give you as much the next.

Wiring money to Spain sounds risky. Is it?

Not at all. Whether you walk into a bank, use a Foreign Exchange Specialist or take transfer the money yourself online, it’s all pretty safe. Nowadays, banks and money exchange agents use the some of the best and most up to date encryption technologies around, protecting your money transfer and personal details.

If you’re afraid of the hacker stories you hear about, it’s usually because customers haven't downloaded the latest protection software or installed the latest updates for their computer, leaving them unprotected with nearly all their online activity.

Can I make a one-off transfer to Spain?

Yes. It’s really up to you how often you transfer money to Spain and it may affect your rate and fees very little. You want to be careful to not pay too much for your fees though, so shop around for the best deal. Have you considered using PayPal? If they’ve already got an account set-up, some people use PayPal to transfer small amounts. But it won’t work unless both sender and receiver has a PayPal account.

What should I look out for when comparing IMT agents?

This is a good question. With so many IMT agents available, who do you pick? It doesn’t matter who you select, each one’s main objective is to transfer your money in a safe and timely manner. In terms of comparing the finer details to transferring money to Spain, we’ve come up with a selection of pointers for you:

  • Limits: the amount of money you send may be the deciding factor in which money transfer agent you choose. Reason being, some have minimum amounts of money before making a transfer. Others are not so fussed, so shop around and see who suits your situation best.
  • Rates: what you need to know is that exchange rate you choose matters. The smaller the percentage rate you secure, the more you save. In other words, a cent or two difference can certainly add up when you’re transferring thousands.
  • Transfer speed: some money transfers will transfer immediately to taking up to 8 days to transfer. Remember, for International Money Transfer agents who promise to wire immediately, it doesn’t mean your recipient has immediate access. What it may mean is that your recipient may be able to see the amount in their account but since the funds have not cleared yet, it may take another 2-3 business days to get spending.
  • Fees: vary far and wide. Banks are usually more costly when it comes to charging fees for IMTs than the alternative money transfer agents. In saying that, banks may also have promotions from time to time, which are worth looking out for if you prefer dealing with banks alone.
  • Online vs phone or in person: you guessed it - international money transfers completed online nearly always cost less in fees and possibly rates. Not to say that a more personable way of making a transfer isn’t still popular. It comes down to how you like to do business - in the privacy of your own home or with the assistance of someone in person or over the phone? You decide.

How do I set up an international money transfer?

Firstly, you need to decide which direction you will take - online, in person or over the phone? Working this out first, will determine your best next steps.

  • Will you be logging on to your online bank account or app?
  • Visiting a branch?
  • Filling out a form online?

Whichever way you choose to transfer money to Spain, some crucial bits of information you’ll need for a successful transfer include:

  • Full name and address of the recipient’s bank
  • Recipient's name, address and account name
  • Account number or International Bank Account Number (IBAN)
  • SWIFT/BIC code of your personal account you're transferring funds from
  • Amount you would like to send.

IMT must-know terminology

BIC - Bank Identification Code

SWIFT - Society for Worldwide Interbank Financial Telecommunication

IBAN - International bank account number

Recipient - The person or party who receives the money being transferred

IMT - International money transfer

IMO - International money order.

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