How to send money to Spain from Mexico with the best MXN-EUR rate

Comparing based on your specific needs is the best way to send money from Mexico to Spain with confidence.

For MXN/EUR

• Wise is our top pick for sending Mexican Peso to Spain. For example, sending 100,000 MXN to EUR will cost you $1323.46 in fees, and you will receive 4,959.79 EUR.

• We would recommend Lumon for low cost, affordable transfers from Euros to Spain. We found that Lumon is 0.23% cheaper than the second-best option. The cost is a combination of a fee of 0 MXN and an exchange rate for converting Mexican Peso to Euro that is 1% different to the mid-market rate.

• Fastest way to send money to Spain from Mexico is with Wise. For example, if you send 100,000 MXN with Wise to Spain, the transfer time is within minutes based on our data.

Our analysis, and search results, include 5 providers that operate between Mexico and Spain. These are ranked by speed, overall cost and ease of use.

Through this, you get a comprehensive view of all the options you have in Mexico when you need to send money to Spain.

The exchange rate determines the price you’ll pay for Euro when you send Mexican Peso to Spain.

The current exchange rate between the Mexican Peso and Euro is 0.05, and it constantly fluctuates.

When calculating the cost of sending money from Mexico to Spain, a combination of fees and exchange rates ensure the best deal:

• The Mid-Market and Exchange Rates: The current MXN-EUR mid-market rate is 0.05 EUR per Mexican Peso. Finding a provider as close to this number as possible will ensure more Euro for your money.

• Fees: Transfer fees are charged on top of a transfer. Lumon currently offers the lowest fees of 0 MXN per transfer (based on $100,000 transfer). Although, we recommend searching for your exact send amount for an exact fee.

• Amount Received: The total amount received in Euro is the biggest indicator in the total cost of sending money to Mexico from Spain. The higher the total amount received in Spain, the lower the cost of sending from Mexico.

It’s possible that waiting a day or two can help you get more EUR for the same amount of Mexican Peso. But, the best way to lock in a price between Mexico and Spain is by using a forward contract.

A bank transfer is our recommended option for money transfers between Mexico and Spain. Lumon offers the best price on a bank transfer.

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

Bank transfers

Bank transfers are often the best payment method for money transfers from Mexico to Spain.

A money transfer company like Lumon offer bank transfers between Mexico and Spain with lower fees and better exchange rates than you would get from a traditional bank.

On average, Lumon is the cheapest provider for bank transfers of the 5 we tested when sending MXN to Spain.

Debit and prepaid cards

Sending money from Mexico to Spain with a debit or a prepaid card is very simple with Paysend.


Paysend is a leader in debit card payments for transfers from Mexico to Spain, competing among a total of 5 active money transfer companies on this route.

Credit cards

We recommend avoiding credit cards where possible due to a lack of support and high fees.

If you have to use a credit card, we recommend comparing your options to find the company with the lowest fees.

Always choose providers that are regulated by financial authorities in both Mexico and Spain to ensure funds are protected.

Please refer to our directory of financial regulators worldwide for key regulatory bodies for money transfers between Mexico and Spain.

Some services have minimum or maximum thresholds on how much you can transfer from Mexico to Spain.

Companies will offer different rates and fees for different transfer amounts. Some companies will become more expensive after certain thresholds are hit.

We’d recommend using Wise if you need to send large amounts of MXN to Spain. The combination of rates and fees when sending to Spain is the most competitive, even at larger amounts.

Also, always check with the recipient and understand any declarations needed on large amounts of money leaving Mexico, or entering Spain. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive money in Spain. You can do a direct bank deposit, cash pickup, use a mobile wallet or receive money into a multi-currency account. It’s likely not all providers serving transfers from Mexico to Spain will offer every method, so it’s best to check ahead of time.

A direct transfer to a bank account is one of the more common ways to transfer from Mexico into Euro. Wise is the best company for bank transfers between Mexico and Spain.

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

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like Lumon.

When signing up to a money transfer company to send between Mexico and Spain, you will need to verify your ID.

The exact documents you need might vary and in some cases you will need more than one.

For the most part, in Mexico this will be a government ID like a passport or driver's license. In Spain it will be a similar set of documents, although this should only be needed if you are opening a new account in Spain, or collecting in cash.

Big transactions between Mexico and Spain, are subject to additional checks. A provider may ask you for proof of address or may want to know where the money comes from.

We recommend Wise in part due to their easy sign up process in Mexico.

When sending large amounts of money between Mexico and Spain there will be tax implications to consider.

Some transfers into Euro may need to be reported to tax authorities in Spain, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances differ in Spain based on age, income and a few other elements. When in doubt, please contact a tax professional in Mexico or Spain to discuss your personal circumstances.