How to send money to Spain from Finland: The best & cheapest ways

Comparing the different providers offering services between Finland and Spain, is the best way to send money with confidence.

The 2 providers we've compared ensures you will get the best options for your transfer to Spain from Finland. By taking the time to compare you can save yourself in the region of 3% of the total transfer amount.

Whilst we rate Wise as the best overall, comparing gives you a comprehensive view of all the options for transferring Euro to Spain.

The exchange rate determines how much Euro you will get for every Euro you want to send. A better exchange rate is the best way to save money on transfers from Finland to Spain.

The current rate between the Euro and Euro is 1. Revolut is currently offering the best exchange between EUR-EUR.

With currencies, the exchange fluctuates constantly, and the EUR-EUR exchange rate is no different. Tracking the rate and understanding the averages can help get a better deal. Even waiting a day or two can help you get more EUR for the same amount of Euro.

Beyond this, a forward contract allows you to lock in an agreed exchange rate between Finland and Spain.

The most cost effective way to send money from Finland to Spain is via a bank transfer. Revolut is the company offering the best price for a bank transfer.

Using Revolut for a bank transfer to Spain is 0.01% cheaper than the second-best option in the market.

Regulations are important for keeping your money safe, Finland and Spain have different regulations to consider.

Our directory of worldwide financial regulators contains details on regulation for money transfers between Finland and Spain.

Some companies offering money transfers between Finland and Spain will come with minimum or maximum thresholds on how much you can send or receive and this could cause rates or fees to change.

Comparing EUR-EUR rates for your specific transfer amount will factor in these rates and fees changes, so you’ll get the best provider for your specific needs. For regular transfers from Finland to Spain, it’s best to check any changes in fees and rates every time you send.

For large transfers of money transfers from Finland to Spain we’d recommend Wise. They offer a competitive combination of rates and fees when sending from Finland to Spain, even at larger amounts.

Also, be sure to check with the recipient and understand any declarations needed on large amounts of money entering Spain from Finland.

Receiving Euro in Spain has a few different options. The most popular ways to receive are through a direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all companies offering money transfers from Finland to Spain will cater for every method for incoming Euro, so it’s best to check ahead of time.

One of the more popular ways is sending money from Finland directly to a bank account in Spain. This is because it means the recipient in Spain has to do very little. Wise is the best company for bank transfers between Finland and Spain.

Whilst cash pickup is popular, it is not always supported and can be costly compared to cheaper options.

Mobile wallet or P2P services and payment apps like PayPal, Xoom, and CashApp operate in Spain and are popular because of convenience, but they come with more limitations and higher costs compared to money transfer providers like Revolut.

When using a money transfer provider to send Euros to Spain, you will need to verify your ID at the sign up stage.

Documents needed will vary and in some cases you might need a couple of options.

Generally speaking, those in Finland can verify through a government issued ID such as a driver’s license or passport. If the recipient needs an ID to collect money or open a multi-currency account in Spain, both can also be used there as well.

Large transactions between Finland and Spain will be subject to additional security measures such as proving where the funds originated, these will be for anti-money laundering purposes.

Wise has scored highly for transfers to Spain because of the easy sign up process in Finland.

There will be tax declarations to consider when sending larger amounts of money between Finland and Spain.

Transfers into Euro may need to be reported to tax authorities in Spain as well, where regular income, large amounts (such as property or inheritance) and business payments will all be subject to tax checks.

Based on the recipient, tax limits in Spain, as well as personal allowances will change. When in doubt, we’d recommend contacting a tax professional in Finland or Spain to discuss your personal circumstances. This ensure you are not missing any specific tax declarations associated with your circumstances.