Cheapest Ways to Send Money to Spain: Wise, Revolut, Banks, MoneyGram, and Crypto Explained

As an expat in Spain, one question comes up repeatedly in Facebook groups and forums:

“What is the cheapest way to send money to Spain from the UK or USA?”

This article is written specifically to answer that debate. While not strictly about real estate, it is extremely relevant for expats managing expenses, property deposits, or monthly bills in Spain. Here we compare Wise, Revolut, traditional banks, MoneyGram, Western Union, and crypto, including real costs, currency conversion fees, and examples for $1,000 / £1,000, $10,000 / £10,000, and $100,000 / £100,000.

Understanding Costs

When sending money internationally, there are several factors that determine the total cost. These include:

• Transfer fees (fixed or percentage)
• Currency conversion fees
• Hidden exchange rate markup (common in banks and cash services)
• Receiving fees in Spain (rare but possible)

All the examples below include transfer + conversion costs so you know exactly what you pay. Additionally, it’s important to understand that the fees can vary depending on the method you choose.

Important: Fees can build up gradually depending on the method you use. For example:

• If a service like Wise charges a fixed fee plus a small conversion fee (e.g., 0.3%–0.5%), the total cost is clear upfront.
• However, with services like banks, MoneyGram, or Western Union, hidden fees in the form of poor exchange rates can add up over time. As a result, for large sums, this can mean significant extra costs compared to initial fixed fees.

1. Wise – Transparent & Efficient

Wise is one of the most popular options for expats because it uses the real mid-market exchange rate and charges a low, transparent fee. As a result, Wise is known for its transparency and efficiency. Therefore, if you are looking for a clear, easy-to-understand pricing structure, Wise is an excellent choice.

• USD → EUR: ~0.43%
• GBP → EUR: ~0.35%

Referral benefit: Use this Wise link to get a free card or 0% fees on your first €500 transfer. This is a great opportunity for new users to get started without the typical fees. Furthermore, by using the referral link, you can benefit from a promotion designed to save you more.

Tips: Always check that you’re sending to a SEPA account for EUR transfers. Additionally, avoid using debit/credit cards if possible as they add around 1–1.5% extra fees, which can accumulate quickly. In conclusion, Wise is perfect for people who want low costs and no surprises.

Why Wise? Wise’s pricing model is clear, meaning no hidden costs or gradual fee increases. It’s the best choice if you want full transparency on the cost of your transfer, without surprises.

2. Revolut – Cheap and Convenient

Revolut is an app-based service with internal FX conversion. Its fees are generally low, but they depend on your plan and day of the week. Therefore, it’s important to understand when to use it to get the best rates. With Revolut, you can enjoy significant savings if you use it strategically.

• Weekdays: 0–0.5%
• Weekends: +1% markup
• Monthly free FX limits may apply

Revolut is excellent for small to medium transfers and offers the convenience of managing money entirely in an app. Moreover, it’s a great choice for people who frequently make international transfers. However, be mindful of the fee structure and ensure you stay within your plan’s limits to avoid additional costs.

Tips: Avoid weekend transfers or going over your free FX limit to prevent extra fees, which can gradually add up. In particular, if you’re planning to send large amounts, plan your transfers ahead of time.

Why Revolut? Revolut is great for expats who want ease of use, but be mindful of the small but gradual fees that can arise when sending large sums, especially on weekends. Therefore, it’s important to manage your transfers wisely.

3. Traditional Bank Transfers – Safe but Expensive

Banks are convenient but often charge both a fixed fee and a poor exchange rate. As a result, sending money via traditional banks may seem easy, but it can become quite costly due to hidden fees and high exchange rate markups. Because of this, banks are usually the most expensive option, especially for larger amounts.

• Transfer fee: €20–€50 fixed
• Exchange rate markup: 2–4%

Tips: Banks are safest but only cost-effective for small, urgent transfers where security is the priority. If speed is not your main concern, consider more efficient methods for larger amounts. Additionally, if you prioritize low costs, consider using services like Wise or Revolut instead of banks.

Why Banks? Banks offer the peace of mind of familiarity, but their exchange rate markups build up gradually, leading to significantly higher costs for large transfers. Therefore, they are often not the best choice for significant sums. Consequently, while safe, they are often far more expensive than alternatives.

4. MoneyGram & Western Union – Fast but Costly

These services are convenient, especially for cash pickups, but they charge high fees and often apply poor exchange rates. Consequently, these options can become very expensive for larger amounts, despite their speed. So, while they are fast, their overall costs can add up quickly for substantial transfers.

• Fees + FX markup: 3–6%

Tips: Use only for urgent cash transfers or if your recipient does not have a bank account. Additionally, compare fees ahead of time to ensure the best value for your transfer. Thus, MoneyGram and Western Union are best for urgent transfers, not regular payments.

Why MoneyGram & Western Union? While fast, these services have a hidden cost due to poor exchange rates that can accumulate gradually — especially on large sums. Thus, they are best used for emergencies, not regular transfers.

5. Crypto (USDC → EUR) – Cheapest for Large Transfers

For tech-comfortable expats sending €50,000+ or €100,000, crypto can be the cheapest option. However, this method is best suited for those who are familiar with crypto and exchanges. If you’re new to crypto, make sure to follow the steps carefully.

How It Works

1. Buy USDC on an exchange in the US or UK: Kraken (referral) – referral benefits include up to €1,125 bonus credit, reduced trading fees, and promotional credits for new users.
2. Send USDC to a European exchange like Bybit EU (referral) – referral benefits include small fee discounts, bonus credits, and lower withdrawal fees for first-time users.
3. Swap USDC → EUR using the USDC/EUR trading pair at the real market rate.
4. Withdraw EUR to your Spanish bank account.

Trading fees: 0.1–0.2%
Blockchain/withdrawal fees: ~€1–€5

Crypto is extremely competitive because:

• USDC/EUR trading pair uses the real market exchange rate
• Trading fees are very low (~0.1–0.2%)
• Network and withdrawal fees are minimal
• Referral codes reduce costs further with bonuses, fee discounts, and promotional credits

Tips: Crypto is the best option for very large transfers but requires some basic technical knowledge. Make sure to check for network fees before finalizing the transfer.

Final Price Comparison (Cheapest → Most Expensive)

1. Crypto (USDC → EUR)
2. Wise
3. Revolut (weekday)
4. OFX or similar FX services
5. Traditional Banks
6. MoneyGram & Western Union

Which Option Should You Use?

• Under €10,000: Wise or Revolut
• €10,000–€50,000: Wise or OFX
• €50,000+: Crypto (USDC) if comfortable
• Cash / urgent: MoneyGram or Western Union

Why this article exists: Many expats ask the same question across Facebook groups and forums, debating the cheapest way to send money to Spain. This guide was created to answer that question clearly and transparently. While not directly about real estate, it is highly relevant for anyone managing expenses as an expat in Spain.

HomeCosta.com provides informative guides like this to help expats make smarter financial decisions while living in Spain.