How to Transfer Money to Europe Online
In short
The easiest way to transfer money to Europe is the one that gives you clarity before you send.
Summarise this article with the AI of your choice:
Moving to Portugal or Spain often means learning how to manage money across borders. You may need to receive a salary or pension from the US, UK, Canada, Brazil, or another country. You may need to send money to family abroad. You may also need to move savings into a Portuguese or Spanish bank account for rent, residency, taxes, or buying property.
That is where online money transfer services become useful.
Today, immigrants have more options than traditional bank wires. You can use banks, fintech accounts, specialist currency providers, remittance companies, debit cards, credit cards, mobile wallets, or cash pickup networks. The challenge is not finding a way to transfer money. The challenge is choosing the safest, clearest, and most cost-effective way to do it.
This guide explains how to transfer money to Europe, how to send money online, how to compare transfer fees, how to check exchange rates, and how to avoid expensive mistakes when sending money internationally.
Table of contents26
- How to transfer money to Europe
- How to send money online
- What are the best services to send money?
- What are the fees for transferring money?
- What is the exchange rate for USD to EUR?
- What payment methods can I use?
- How to avoid hidden fees when sending money
- What is the fastest way to send money?
- How to send money internationally
- What is the best app for money transfer?
- How to track a money transfer
- What immigrants in Portugal and Spain should know before moving larger amounts
- Quick checklist before you transfer money online
- How to transfer money to Europe
- How to send money online
- What are the best services to send money?
- What are the fees for transferring money?
- What is the exchange rate for USD to EUR?
- What payment methods can I use?
- How to avoid hidden fees when sending money
- What is the fastest way to send money?
- How to send money internationally
- What is the best app for money transfer?
- How to track a money transfer
- What immigrants in Portugal and Spain should know before moving larger amounts
- Quick checklist before you transfer money online
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How to transfer money to Europe
To transfer money to Europe, you need three things: a sending account, a receiving method, and a provider that supports the currency route you need.
For immigrants in Portugal or Spain, the final destination is usually a euro account. That could be your Portuguese bank account, your Spanish bank account, a fintech account with a European IBAN, or another person’s account in Europe.
Start with the purpose of the transfer
The best way to send money depends on why you are sending it.
For salary, pension or freelance income
If you receive income from abroad, a fintech account can help you receive money in one currency and convert it to euros before sending it to your local bank account.
For example, someone earning in USD while living in Portugal may use a provider that gives local USD account details. The money can arrive as a local US payment, then be converted to euros and moved to a Portuguese account.
For rent, bills, and daily life
A local Portuguese or Spanish bank account is often useful for rent, utilities, direct debits, tax refunds, and administrative proof. Even if you use fintech apps, a local account can make life easier when dealing with landlords, public services, or traditional institutions.
For family support
If you need to send money to family members who do not use bank accounts, remittance providers with cash pickup or mobile wallet options may be more practical than a bank transfer.
For large transfers (more than 20K)
If you are moving savings, buying property, or transferring business funds, use a traceable provider and keep documents showing where the money came from. Larger transfers can trigger extra checks from banks or payment providers.
Basic steps to send money to Europe
Step 1: Choose the destination
Decide whether the money should arrive in a bank account, mobile wallet, cash pickup location, or fintech balance.
Step 2: Compare the provider
Look at the transfer fee, exchange rate, delivery time, payment method, and final amount received.
Step 3: Confirm the recipient details
For Portugal or Spain, you will usually need the recipient’s full name and IBAN. For transfers outside Europe, you may need different bank details depending on the country.
Step 4: Complete identity checks
Most providers require identity verification, especially for larger international money transfers. You may need a passport, residence card, tax number, proof of address, or source-of-funds documents.
Step 5: Save the receipt
Keep the transfer confirmation, tracking number, exchange rate, fee breakdown, and provider receipt. These records can be useful for tax, banking, immigration, or property-related questions.
How to send money online
Sending money online is usually straightforward, but the details matter. The cheapest option is not always the one with the lowest visible fee.
Create your account
Open an account with a bank, fintech, money transfer app, or remittance provider. Use your legal name exactly as it appears on your ID. This helps avoid verification delays.
Add the recipient
Enter the recipient’s full name and payment details. If you are sending to your own account, make sure the account is in your name, especially for large transfers.
Choose the amount and currency
You can usually choose either the amount you want to send or the amount the recipient should receive.
For example, you may choose to send 1,000 USD and let the provider calculate the euro amount. Or you may choose for the recipient to receive exactly 900 EUR.
Choose the payment method
The payment method can change the cost and speed of the transfer. Bank account transfers are often cheaper. Debit card payments may be faster. Credit cards can be convenient, but they often cost more.
Review the total before confirming
Before you send money online, check:
- Transfer fee
- Exchange rate
- Final amount received
- Estimated arrival time
- Recipient details
- Refund rules
- Tracking options
The most important number is the final amount the recipient receives.
What are the best services to send money?
There is no single best international money transfer provider for every situation. The best service depends on the country, currency, amount, speed, and payout method.
Best ways to send money by situation
| Situation | Best type of provider | Why it works |
|---|---|---|
| Receiving salary from abroad | Fintech or multi-currency account | Useful for holding and converting foreign income |
| Sending savings to Portugal or Spain | Specialist currency provider or bank | Better for larger, traceable transfers |
| Paying rent or bills locally | Local Portuguese or Spanish bank | Often accepted by landlords and utility companies |
| Sending money to family abroad | Remittance provider | Good for cash pickup, bank deposit, or wallet delivery |
| Sending euros inside Europe | SEPA transfer | Usually simple and low-cost |
| Buying property | Local bank plus currency specialist | Better documentation and source-of-funds trail |
Fintech providers
Fintech accounts can be useful for immigrants who receive income in one currency and spend in euros. They often make currency conversion easier and may provide account details for different currencies.
Traditional banks
Banks are useful when you need a formal banking relationship, proof of funds, mortgage support, tax refund setup, or local direct debits. They can be more expensive for international transfers, especially if SWIFT or correspondent banks are involved.
Remittance providers
Remittance companies are useful when speed and access matter more than having a traditional bank account. They can be especially helpful when the recipient needs cash pickup or mobile wallet delivery.
Specialist currency providers
Specialist foreign exchange providers, like Currencies Direct, can be useful for larger transfers, such as home deposits, business payments, or moving savings. Exchange-rate differences matter more when the amount is high.
What are the fees for transferring money?
Transfer fees vary depending on the provider, country, currency, payment method, and delivery speed.
The visible fee is only part of the cost. The exchange rate can be just as important, and sometimes more important.
Types of money transfer fees
Transfer fee
This is the fee shown by the provider for sending the money. It may be fixed, percentage-based, or a mix of both.
Exchange-rate margin
This is the difference between the real market exchange rate and the rate offered by the provider. A provider can say “low fee” or “no fee” but still make money by giving you a weaker exchange rate.
Payment method fee
Paying by debit or credit card may cost more than paying by bank transfer. Credit cards can also trigger extra charges from the card issuer.
Receiving bank fee
Some international wire transfers involve intermediary banks. These banks may deduct money before the transfer arrives.
Speed fee
Faster delivery may cost more, depending on the provider and destination.
How to compare the real cost
Do not compare providers by looking only at the transfer fee.
Compare:
- How much you send
- How much the recipient receives
- The exchange rate
- The visible fee
- The payment method fee
- The delivery time
- Any possible receiving bank deduction
The cleanest comparison is simple: check how many euros arrive after all fees and currency conversion.
What is the exchange rate for USD to EUR?
The USD to EUR exchange rate changes constantly. That means you should always check the live exchange rate before sending money from the United States to Europe.
How exchange rates work
If you are sending dollars to Portugal or Spain, your money will usually be converted from USD to EUR. The rate decides how many euros you get for each dollar.
For example, if the exchange rate is 1 USD = 0.85 EUR, then 1,000 USD would equal around 850 EUR before transfer fees or provider margins.
Why the provider rate may be different
The rate you see on a currency converter may not be the same rate offered by your bank or money transfer provider. Some providers add a margin to the exchange rate.
That margin is part of the cost of sending money internationally.
How to check the exchange rate before sending
Use a currency converter
Check the current USD to EUR rate before starting the transfer.
Compare provider rates
Look at the rate offered by your bank, fintech app, or money transfer provider.
Check the final euro amount
The final amount received is more important than the displayed rate alone.
Avoid rushing large transfers
For larger amounts, even a small difference in the exchange rate can cost hundreds or thousands of euros.
What payment methods can I use?
Most online money transfer providers offer several payment methods. The available options depend on the provider, country, currency, and transfer amount.
Bank account transfer
A bank account transfer is often one of the cheapest ways to send money online. It may take longer than card payments, especially for international routes outside Europe.
Debit card
A debit card can be faster than a bank transfer. It may also come with higher fees.
Credit card
Credit cards are convenient but can be expensive. Some card issuers may treat money transfers as cash advances, which can add extra costs.
Mobile wallet
Mobile wallets are available for some countries and providers. They are often useful for remittances, especially when the recipient does not want a traditional bank deposit.
Cash payment
Some providers allow you to start a transfer online and pay in cash at an agent location. This can be helpful for people who prefer not to fund a transfer from a bank account.
PayPal balance
Some services connected to PayPal allow international transfers funded from a PayPal balance, bank account, debit card, or credit card, depending on the destination.
How to avoid hidden fees when sending money
Hidden fees usually appear in three places: the exchange rate, the payment method, and the receiving bank.
Compare the final amount received
This is the easiest way to protect yourself. If you send 1,000 USD, compare how many euros each provider delivers after all fees.
Watch the exchange-rate margin
A provider may advertise a low transfer fee but offer a weaker exchange rate. That difference is a cost.
Be careful with credit cards
Credit card payments may come with provider fees and card issuer fees. For many people, a bank transfer or debit card is cheaper.
Avoid unnecessary wire transfers
Traditional wire transfers can be useful, but they may involve higher costs and intermediary bank fees.
Do not split transfers to avoid checks
If you are moving a large amount, keep it clean and documented. Splitting transfers to avoid verification can create more problems, not fewer.
Send from an account in your name
For rent deposits, property purchases, visa renewals, or proof-of-funds requests, it is better when the money comes from an account clearly linked to you.
What is the fastest way to send money?
The fastest way to transfer money depends on the route.
Inside Europe, euro transfers can be very fast when both banks or payment providers support instant SEPA transfers. For money coming from outside Europe, card-funded transfers or remittance providers may be faster, but they are not always the cheapest.
Fast options by situation
Euro account to euro account
A SEPA instant transfer can be one of the fastest options when available.
Card to cash pickup
Remittance providers can be fast when the recipient needs cash, but availability depends on the provider, destination country, agent hours, and compliance checks.
US to Portugal or Spain
An online money transfer provider may be faster and cheaper than a traditional bank wire, depending on the amount and payment method.
Large transfers
Large transfers are rarely the fastest option because the provider or bank may ask for proof of income, tax returns, bank statements, or source-of-funds documents.
Why a fast transfer can still be delayed
Transfers can be delayed by:
- Wrong recipient details
- Bank holidays
- Weekend processing
- Currency conversion checks
- Security screening
- Source-of-funds requests
- Recipient bank review
- Large transfer amounts
How to send money internationally
To send money internationally, choose the right transfer route. The most common options are SEPA, SWIFT, fintech transfers, remittance providers, and specialist currency services.
SEPA transfer
SEPA is useful for euro-to-euro transfers within Europe. Once your money is already in euros, this can be one of the simplest ways to send and receive money across participating European countries.
SWIFT or wire transfer
A wire transfer can send money across many countries and currencies. It can also be slower and more expensive because intermediary banks may be involved.
Online money transfer provider
Online providers are useful for currency conversion and international transfers. They can send money to bank accounts, cards, wallets, or cash pickup locations, depending on the provider.
Remittance provider
Remittance providers are useful when the recipient needs cash, does not have a bank account, or needs money quickly.
Specialist currency provider
Specialist providers can be useful for large transfers where the exchange rate has a major impact.
What is the best app for money transfer?
The best money transfer app depends on what you need to do.
Best for receiving international income
A multi-currency app can work well if you receive salary, freelance payments, or business income in another currency and need to convert it to euros. Here we work very well with Wise. It covers everything you need and support amounts up to 20K.
Best for sending money to someone with no bank account
A remittance app, like Western Union or Ria, may be better if your recipient needs cash pickup, bank deposit, or mobile wallet delivery.
Best for frequent transfers
If you send money regularly, choose an app with transparent fees, like Wise, good exchange rates, strong tracking, and reliable customer support.
Best for large transfers
For large amounts, an app may not be enough. You may need a provider that offers better exchange-rate support, formal documentation, and source-of-funds guidance. We always recommend Currencies Direct.
How to track a money transfer
Tracking a money transfer is important, especially when sending money internationally.
Use the provider’s app or website
Most providers let you track your transfer from your account dashboard.
Use the transfer number
Some providers give a tracking number, transaction ID, reference code, or control number. Keep this safe.
Check email and SMS updates
Many providers send status updates when the transfer is created, processed, delayed, paid out, or completed.
Contact support if the transfer is late
If the money does not arrive within the expected time, contact the provider with your receipt, tracking number, sender details, and recipient details.
Common transfer statuses
Pending
The provider has received the request but has not completed processing.
Processing
The money is moving through the payment network.
On hold
The provider may need more information.
Available for pickup
The recipient can collect the money.
Completed
The money has arrived or has been paid out.
What immigrants in Portugal and Spain should know before moving larger amounts
Small transfers, up to 20K, are usually simple. Larger transfers need more care.
If you are moving savings, buying a home, sending a family gift, receiving a large sum foreign income, or transferring business funds, banks and providers may ask for proof of where the money came from.
Documents that may help
- Payslips
- Tax returns
- Bank statements
- Property sale contract
- Inheritance documents
- Business invoices
- Investment sale records
- Pension statements
- Loan agreements
Portugal
If you are tax resident in Portugal, foreign accounts may need to be reported in your annual tax return. This can matter if you use foreign bank accounts, fintech accounts, or accounts with non-Portuguese IBANs.
For property purchases, keep the transfer traceable. If you are sending money for a deposit or final deed payment, the account name, transfer history, and source-of-funds documents should be clear. For a home in Spain, our Spanish mortgage calculator shows the cash you need at signing, deposit and purchase tax included.
Spain
If you are tax resident in Spain and hold foreign assets, reporting obligations may apply depending on the value and type of assets. Foreign bank accounts, investments, insurance products, and property abroad can fall into this category.
Spain also has rules around declarations for certain movements of payment means. For larger amounts, especially cash or equivalent instruments, check the rules before moving money.
Quick checklist before you transfer money online
Before sending money, check:
- The provider supports the sending country
- The provider supports the destination country
- The currency route is available
- The recipient details are correct
- The transfer fee is clear
- The exchange rate is acceptable
- The final amount received is shown
- The payment method does not add extra costs
- The delivery time works for you
- The transfer can be tracked
- You have saved the receipt
For larger transfers, also check:
- The money comes from an account in your name
- You have proof of where the funds came from
- The transfer does not create tax reporting issues
- Your bank will accept the money
- Your accountant, lawyer, or bank has confirmed the correct process if needed
The easiest way to transfer money to Europe is the one that gives you clarity before you send.
For immigrants in Portugal or Spain, a good setup often combines a local bank account with an online money transfer provider. The local bank helps with rent, taxes, residency, and official paperwork. The online provider helps with currency conversion, international payments, and faster transfers.
Before sending money, compare the full cost, not just the advertised fee. Look at the exchange rate, transfer fees, payment method, speed, and final amount received. Keep every transfer traceable, especially when moving larger amounts.
A good online money transfer should make life simpler, not create confusion later with banks, taxes, or immigration paperwork.
Moving to Portugal or Spain often means learning how to manage money across borders. You may need to receive a salary or pension from the US, UK, Canada, Brazil, or another country. You may need to send money to family abroad. You may also need to move savings into a Portuguese or Spanish bank account for rent, residency, taxes, or buying property.
That is where online money transfer services become useful.
Today, immigrants have more options than traditional bank wires. You can use banks, fintech accounts, specialist currency providers, remittance companies, debit cards, credit cards, mobile wallets, or cash pickup networks. The challenge is not finding a way to transfer money. The challenge is choosing the safest, clearest, and most cost-effective way to do it.
This guide explains how to transfer money to Europe, how to send money online, how to compare transfer fees, how to check exchange rates, and how to avoid expensive mistakes when sending money internationally.
How to transfer money to Europe
To transfer money to Europe, you need three things: a sending account, a receiving method, and a provider that supports the currency route you need.
For immigrants in Portugal or Spain, the final destination is usually a euro account. That could be your Portuguese bank account, your Spanish bank account, a fintech account with a European IBAN, or another person’s account in Europe.
Start with the purpose of the transfer
The best way to send money depends on why you are sending it.
For salary, pension or freelance income
If you receive income from abroad, a fintech account can help you receive money in one currency and convert it to euros before sending it to your local bank account.
For example, someone earning in USD while living in Portugal may use a provider that gives local USD account details. The money can arrive as a local US payment, then be converted to euros and moved to a Portuguese account.
For rent, bills, and daily life
A local Portuguese or Spanish bank account is often useful for rent, utilities, direct debits, tax refunds, and administrative proof. Even if you use fintech apps, a local account can make life easier when dealing with landlords, public services, or traditional institutions.
For family support
If you need to send money to family members who do not use bank accounts, remittance providers with cash pickup or mobile wallet options may be more practical than a bank transfer.
For large transfers (more than 20K)
If you are moving savings, buying property, or transferring business funds, use a traceable provider and keep documents showing where the money came from. Larger transfers can trigger extra checks from banks or payment providers.
Basic steps to send money to Europe
Step 1: Choose the destination
Decide whether the money should arrive in a bank account, mobile wallet, cash pickup location, or fintech balance.
Step 2: Compare the provider
Look at the transfer fee, exchange rate, delivery time, payment method, and final amount received.
Step 3: Confirm the recipient details
For Portugal or Spain, you will usually need the recipient’s full name and IBAN. For transfers outside Europe, you may need different bank details depending on the country.
Step 4: Complete identity checks
Most providers require identity verification, especially for larger international money transfers. You may need a passport, residence card, tax number, proof of address, or source-of-funds documents.
Step 5: Save the receipt
Keep the transfer confirmation, tracking number, exchange rate, fee breakdown, and provider receipt. These records can be useful for tax, banking, immigration, or property-related questions.
How to send money online
Sending money online is usually straightforward, but the details matter. The cheapest option is not always the one with the lowest visible fee.
Create your account
Open an account with a bank, fintech, money transfer app, or remittance provider. Use your legal name exactly as it appears on your ID. This helps avoid verification delays.
Add the recipient
Enter the recipient’s full name and payment details. If you are sending to your own account, make sure the account is in your name, especially for large transfers.
Choose the amount and currency
You can usually choose either the amount you want to send or the amount the recipient should receive.
For example, you may choose to send 1,000 USD and let the provider calculate the euro amount. Or you may choose for the recipient to receive exactly 900 EUR.
Choose the payment method
The payment method can change the cost and speed of the transfer. Bank account transfers are often cheaper. Debit card payments may be faster. Credit cards can be convenient, but they often cost more.
Review the total before confirming
Before you send money online, check:
- Transfer fee
- Exchange rate
- Final amount received
- Estimated arrival time
- Recipient details
- Refund rules
- Tracking options
The most important number is the final amount the recipient receives.
What are the best services to send money?
There is no single best international money transfer provider for every situation. The best service depends on the country, currency, amount, speed, and payout method.
Best ways to send money by situation
| Situation | Best type of provider | Why it works |
|---|---|---|
| Receiving salary from abroad | Fintech or multi-currency account | Useful for holding and converting foreign income |
| Sending savings to Portugal or Spain | Specialist currency provider or bank | Better for larger, traceable transfers |
| Paying rent or bills locally | Local Portuguese or Spanish bank | Often accepted by landlords and utility companies |
| Sending money to family abroad | Remittance provider | Good for cash pickup, bank deposit, or wallet delivery |
| Sending euros inside Europe | SEPA transfer | Usually simple and low-cost |
| Buying property | Local bank plus currency specialist | Better documentation and source-of-funds trail |
Fintech providers
Fintech accounts can be useful for immigrants who receive income in one currency and spend in euros. They often make currency conversion easier and may provide account details for different currencies.
Traditional banks
Banks are useful when you need a formal banking relationship, proof of funds, mortgage support, tax refund setup, or local direct debits. They can be more expensive for international transfers, especially if SWIFT or correspondent banks are involved.
Remittance providers
Remittance companies are useful when speed and access matter more than having a traditional bank account. They can be especially helpful when the recipient needs cash pickup or mobile wallet delivery.
Specialist currency providers
Specialist foreign exchange providers, like Currencies Direct, can be useful for larger transfers, such as home deposits, business payments, or moving savings. Exchange-rate differences matter more when the amount is high.
What are the fees for transferring money?
Transfer fees vary depending on the provider, country, currency, payment method, and delivery speed.
The visible fee is only part of the cost. The exchange rate can be just as important, and sometimes more important.
Types of money transfer fees
Transfer fee
This is the fee shown by the provider for sending the money. It may be fixed, percentage-based, or a mix of both.
Exchange-rate margin
This is the difference between the real market exchange rate and the rate offered by the provider. A provider can say “low fee” or “no fee” but still make money by giving you a weaker exchange rate.
Payment method fee
Paying by debit or credit card may cost more than paying by bank transfer. Credit cards can also trigger extra charges from the card issuer.
Receiving bank fee
Some international wire transfers involve intermediary banks. These banks may deduct money before the transfer arrives.
Speed fee
Faster delivery may cost more, depending on the provider and destination.
How to compare the real cost
Do not compare providers by looking only at the transfer fee.
Compare:
- How much you send
- How much the recipient receives
- The exchange rate
- The visible fee
- The payment method fee
- The delivery time
- Any possible receiving bank deduction
The cleanest comparison is simple: check how many euros arrive after all fees and currency conversion.
What is the exchange rate for USD to EUR?
The USD to EUR exchange rate changes constantly. That means you should always check the live exchange rate before sending money from the United States to Europe.
How exchange rates work
If you are sending dollars to Portugal or Spain, your money will usually be converted from USD to EUR. The rate decides how many euros you get for each dollar.
For example, if the exchange rate is 1 USD = 0.85 EUR, then 1,000 USD would equal around 850 EUR before transfer fees or provider margins.
Why the provider rate may be different
The rate you see on a currency converter may not be the same rate offered by your bank or money transfer provider. Some providers add a margin to the exchange rate.
That margin is part of the cost of sending money internationally.
How to check the exchange rate before sending
Use a currency converter
Check the current USD to EUR rate before starting the transfer.
Compare provider rates
Look at the rate offered by your bank, fintech app, or money transfer provider.
Check the final euro amount
The final amount received is more important than the displayed rate alone.
Avoid rushing large transfers
For larger amounts, even a small difference in the exchange rate can cost hundreds or thousands of euros.
What payment methods can I use?
Most online money transfer providers offer several payment methods. The available options depend on the provider, country, currency, and transfer amount.
Bank account transfer
A bank account transfer is often one of the cheapest ways to send money online. It may take longer than card payments, especially for international routes outside Europe.
Debit card
A debit card can be faster than a bank transfer. It may also come with higher fees.
Credit card
Credit cards are convenient but can be expensive. Some card issuers may treat money transfers as cash advances, which can add extra costs.
Mobile wallet
Mobile wallets are available for some countries and providers. They are often useful for remittances, especially when the recipient does not want a traditional bank deposit.
Cash payment
Some providers allow you to start a transfer online and pay in cash at an agent location. This can be helpful for people who prefer not to fund a transfer from a bank account.
PayPal balance
Some services connected to PayPal allow international transfers funded from a PayPal balance, bank account, debit card, or credit card, depending on the destination.
How to avoid hidden fees when sending money
Hidden fees usually appear in three places: the exchange rate, the payment method, and the receiving bank.
Compare the final amount received
This is the easiest way to protect yourself. If you send 1,000 USD, compare how many euros each provider delivers after all fees.
Watch the exchange-rate margin
A provider may advertise a low transfer fee but offer a weaker exchange rate. That difference is a cost.
Be careful with credit cards
Credit card payments may come with provider fees and card issuer fees. For many people, a bank transfer or debit card is cheaper.
Avoid unnecessary wire transfers
Traditional wire transfers can be useful, but they may involve higher costs and intermediary bank fees.
Do not split transfers to avoid checks
If you are moving a large amount, keep it clean and documented. Splitting transfers to avoid verification can create more problems, not fewer.
Send from an account in your name
For rent deposits, property purchases, visa renewals, or proof-of-funds requests, it is better when the money comes from an account clearly linked to you.
What is the fastest way to send money?
The fastest way to transfer money depends on the route.
Inside Europe, euro transfers can be very fast when both banks or payment providers support instant SEPA transfers. For money coming from outside Europe, card-funded transfers or remittance providers may be faster, but they are not always the cheapest.
Fast options by situation
Euro account to euro account
A SEPA instant transfer can be one of the fastest options when available.
Card to cash pickup
Remittance providers can be fast when the recipient needs cash, but availability depends on the provider, destination country, agent hours, and compliance checks.
US to Portugal or Spain
An online money transfer provider may be faster and cheaper than a traditional bank wire, depending on the amount and payment method.
Large transfers
Large transfers are rarely the fastest option because the provider or bank may ask for proof of income, tax returns, bank statements, or source-of-funds documents.
Why a fast transfer can still be delayed
Transfers can be delayed by:
- Wrong recipient details
- Bank holidays
- Weekend processing
- Currency conversion checks
- Security screening
- Source-of-funds requests
- Recipient bank review
- Large transfer amounts
How to send money internationally
To send money internationally, choose the right transfer route. The most common options are SEPA, SWIFT, fintech transfers, remittance providers, and specialist currency services.
SEPA transfer
SEPA is useful for euro-to-euro transfers within Europe. Once your money is already in euros, this can be one of the simplest ways to send and receive money across participating European countries.
SWIFT or wire transfer
A wire transfer can send money across many countries and currencies. It can also be slower and more expensive because intermediary banks may be involved.
Online money transfer provider
Online providers are useful for currency conversion and international transfers. They can send money to bank accounts, cards, wallets, or cash pickup locations, depending on the provider.
Remittance provider
Remittance providers are useful when the recipient needs cash, does not have a bank account, or needs money quickly.
Specialist currency provider
Specialist providers can be useful for large transfers where the exchange rate has a major impact.
What is the best app for money transfer?
The best money transfer app depends on what you need to do.
Best for receiving international income
A multi-currency app can work well if you receive salary, freelance payments, or business income in another currency and need to convert it to euros. Here we work very well with Wise. It covers everything you need and support amounts up to 20K.
Best for sending money to someone with no bank account
A remittance app, like Western Union or Ria, may be better if your recipient needs cash pickup, bank deposit, or mobile wallet delivery.
Best for frequent transfers
If you send money regularly, choose an app with transparent fees, like Wise, good exchange rates, strong tracking, and reliable customer support.
Best for large transfers
For large amounts, an app may not be enough. You may need a provider that offers better exchange-rate support, formal documentation, and source-of-funds guidance. We always recommend Currencies Direct.
How to track a money transfer
Tracking a money transfer is important, especially when sending money internationally.
Use the provider’s app or website
Most providers let you track your transfer from your account dashboard.
Use the transfer number
Some providers give a tracking number, transaction ID, reference code, or control number. Keep this safe.
Check email and SMS updates
Many providers send status updates when the transfer is created, processed, delayed, paid out, or completed.
Contact support if the transfer is late
If the money does not arrive within the expected time, contact the provider with your receipt, tracking number, sender details, and recipient details.
Common transfer statuses
Pending
The provider has received the request but has not completed processing.
Processing
The money is moving through the payment network.
On hold
The provider may need more information.
Available for pickup
The recipient can collect the money.
Completed
The money has arrived or has been paid out.
What immigrants in Portugal and Spain should know before moving larger amounts
Small transfers, up to 20K, are usually simple. Larger transfers need more care.
If you are moving savings, buying a home, sending a family gift, receiving a large sum foreign income, or transferring business funds, banks and providers may ask for proof of where the money came from.
Documents that may help
- Payslips
- Tax returns
- Bank statements
- Property sale contract
- Inheritance documents
- Business invoices
- Investment sale records
- Pension statements
- Loan agreements
Portugal
If you are tax resident in Portugal, foreign accounts may need to be reported in your annual tax return. This can matter if you use foreign bank accounts, fintech accounts, or accounts with non-Portuguese IBANs.
For property purchases, keep the transfer traceable. If you are sending money for a deposit or final deed payment, the account name, transfer history, and source-of-funds documents should be clear.
Spain
If you are tax resident in Spain and hold foreign assets, reporting obligations may apply depending on the value and type of assets. Foreign bank accounts, investments, insurance products, and property abroad can fall into this category.
Spain also has rules around declarations for certain movements of payment means. For larger amounts, especially cash or equivalent instruments, check the rules before moving money.
Quick checklist before you transfer money online
Before sending money, check:
- The provider supports the sending country
- The provider supports the destination country
- The currency route is available
- The recipient details are correct
- The transfer fee is clear
- The exchange rate is acceptable
- The final amount received is shown
- The payment method does not add extra costs
- The delivery time works for you
- The transfer can be tracked
- You have saved the receipt
For larger transfers, also check:
- The money comes from an account in your name
- You have proof of where the funds came from
- The transfer does not create tax reporting issues
- Your bank will accept the money
- Your accountant, lawyer, or bank has confirmed the correct process if needed
The easiest way to transfer money to Europe is the one that gives you clarity before you send.
For immigrants in Portugal or Spain, a good setup often combines a local bank account with an online money transfer provider. The local bank helps with rent, taxes, residency, and official paperwork. The online provider helps with currency conversion, international payments, and faster transfers.
Before sending money, compare the full cost, not just the advertised fee. Look at the exchange rate, transfer fees, payment method, speed, and final amount received. Keep every transfer traceable, especially when moving larger amounts.
A good online money transfer should make life simpler, not create confusion later with banks, taxes, or immigration paperwork.
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MOVING IN EUROPE