How to send money to Iraq from Spain with the best EUR-IQD rate

A comparison of providers offering services between Spain and Iraq is paramount. Based on your specific transfer amount, the best way to send money to Iraq could change. Comparing ensures the best price for your needs.

For services allowing you to send Euro to Iraq we've compared 3 providers.

Here are your best money transfer options for sending money from Spain to Iraq

• Western Union Agent is our recommended way to send Euro to IQD. Sending 300 EUR to IQD will cost you €9 in fees, and your recipient will receive 405,069.67 IQD. The delivery time usually is minutes - 5 days, but it depends on the day you make the transfer.

• To secure a cheap way to transfer EUR to Iraq, Ria Money Transfer is our recommendation. We found that Ria Money Transfer fees were 4 EUR per transfer, and customers would expect an exchange rate between EUR-IQD that is 2.8% different to the mid-market rate

• Fastest way to send money to Iraq from Spain is with Ria Money Transfer. If you send €300 with Ria Money Transfer to Iraq, the transfer time is minutes - 24 hours. This is currently the fastest option, but can vary depending on how much EUR you send to Iraq.

This coverage of the market ensure you will get the best options for your transfer to Iraq from Spain.

Overall, we rated Western Union Agent as the best, but remember comparing for your specific transfer gives you a comprehensive view of all the options for transferring money from Spain to Iraq.

A better exchange rate means more Euro being sent to Iraq. This exchange rate determines the price you will pay when buying Iraqi Dinar.

Currently the mid-market rate between Euro and Iraqi Dinar is 1,493.9234.

Fees and exchange rates make up the total cost of sending money from Iraq to Iraq. Finding a company that can offer both ensures a good deal on your transfer.

• The Mid-Market and Exchange Rates: The current EUR-IQD mid-market rate is 1,493.9234 IQD per Euro. You will get more Iraqi Dinar for your Euros if you find a provider close to this number.

• Fees: Transfer fees are charged as part of the transfer. Ria Money Transfer charges the lowest fee of 4 EUR at the moment. We’d always recommend comparing providers for your exact send amount as fees may change.

• Amount Received: Money transfer companies will show you the amount of Iraqi Dinar eventually received in Iraq. You can assume that a lower cost of sending from Spain will result in more money received in Iraq.

Sometimes, waiting a day or two can help you get more IQD for the same amount of Euro - but time it wrong and you might get a worse deal.

If you’re sending a large amount where this rate could make a significant difference, use a forward contract. This allows you to lock in an agreed exchange rate between Spain and Iraq.

A bank transfer through a money transfer company is the cheapest way to send money. Generally, it’s the payment method that will get you the best price on a transfer from Spain to Iraq at this moment.

Here are all the ways to send money from Spain to Iraq:

Bank transfers

Bank transfers are usually the best and easiest way to send money from Spain to Iraq.

By using a money transfer company such as Ria Money Transfer for transfers from Spain to Iraq, you can send money via a bank transfer while benefitting from lower fees and more favorable exchange rates than you would get from a traditional bank.

Debit and prepaid cards

Sending money from Spain to Iraq with a debit or a prepaid card is available through Western Union Agent.


Western Union Agent is one of the cheaper options for debit card payments for transfers from Spain to Iraq. This cost is against a total of 3 money transfer companies offering this option.

Credit cards

When it comes to credit card transfers from Spain to Iraq, we recommend comparing your options to get the best deal.

Transfer limits to Spain and Iraq will differ per company, this may impact the amount you can send and receive if you hit the limits.

Also, rates and fees for different EUR-IQD transfer amounts could change - that’s why it’s best to compare companies for your specific transfer amount. Then, for regular transfers to Iraq, shopping around each time can make a huge difference if you feel you are hitting limits regularly.

For sending large or regular amounts of EUR to Iraq we'd recommend using Western Union Agent. They offer a combination of rates and fees when sending from Spain to Iraq that is the most competitive.

There are different ways to receive money in Iraq.

The most popular ways are direct bank deposit into Iraqi Dinar, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all providers offering money transfers between Spain and Iraq will offer every method for incoming Iraqi Dinar.

Understanding where the money will eventually go after its left Spain and entered Iraq could impact the provider you use.

The most common (and generally easiest) way to send money from Spain to Iraq is directly into a bank account. Western Union Agent is the best company for sending money from Spain to a bank account in Iraq.

And if you need cash right away, check if cash pickup is an option for transfers between Spain and Iraq.

Mobile wallets, P2P services and payment apps like PayPal, Xoom, and CashApp are popular because they offer convenience to those who already have them, but they come with more limitations and higher costs.

When sending Iraqi Dinars to Iraq, you will need to verify your ID at the sign up stage.

The documents you need will vary by money transfer company and in some cases you might need a couple of options.

For the most part however, in Spain ID can be verified through a government issued ID such as a passport or driver's license.

In Iraq, if the recipient needs an ID to collect money - both should be accepted. We’d recommend checking in advance before sending for any specific requirements on receiving money.

Large transactions between Spain and Iraq, are subject to additional checks such as proof of funds. This is for anti-money laundering purposes.

Western Union Agent is one of our recommended providers for transfers to Iraq from Spain due to the ease of sign up and ID verification.

When sending money between Spain and Iraq there will be tax declarations to consider.

Some transfers into Iraqi Dinar may need to be reported to tax authorities in Iraq, particularly where inheritance or property purchases are involved (or anywhere else there are additional legal requirements).

Depending on age and income in particular, tax limits and personal allowances will change in Iraq.

When in doubt, please contact a tax professional in Spain or Iraq to discuss the personal circumstances of the transfer. This ensures you are not missing any specific tax declarations associated with your circumstances.