Send Money to Spain with CurrencyFair
Whether you are a retired expat or an owner of foreign property, CurrencyFair is here to help you send money to Spain safely and quickly.
Transfer Money to Spain
How CurrencyFair can Help You Send Money to Spain
Sign up online today and deposit your funds so you’re ready to transfer money to Spain whenever you need to. Opt for Quicktrade and the exchange will occur straight away at the best rate that’s available.
Rather wait until a certain rate is reached before your money enters the marketplace? Just tell us the figure you have in mind before you’d like us to transfer money to Spain — we have no maximum or minimum for you to worry about.
We have many security features in place to ensure your money gets transferred to Spain safely, so transfer money to Spain today by registering your account and see how much you can save. Or try out our new currency converter calculator to Convert GBP to EUR.
How much can CurrencyFair save you compared to a typical bank?
|
Typical Bank |
|---|---|
|
Transfer amount £ 2,000.00 |
Transfer amount £ 2,000.00 |
|
International transfer fees £ 2.50 |
International transfer fees £ 40.00 |
|
Exchange rate margin £ 6.00 |
Exchange rate margin £ 60.00 |
|
Total cost of transaction £ 8.50 |
Total cost of transaction £ 100.00 |
| On average you pay just 0.4% of the amount exchanged plus a €3 (or currency equivalent) transfer fee. | |
History of Spanish Currency
Until adopting the euro in 2002, the peseta was the currency of Spain. Established in 1869, the peseta was also the de facto currency of Andorra alongside the French franc.
Although the euro replaced the peseta on currency exchange boards in 1999, it wasn’t until March 2002 when the peseta lost its legal tender status in Spain and Andorra. This was because euro coins and notes were not introduced until January 2002.
Even though it isn’t legal currency, peseta notes and coins can still be exchanged for euros at any branch of the Spanish Central Bank until December 2020. As of 2011, it was thought that around 1.7 billion euros worth of pesetas had not been converted.
When the peseta was converted to the euro, it is thought that money laundering from mafia bosses caused a real estate boom. Here, the bosses spent billions of pesetas of dubious origin on real estate just prior to the official exchange. Then, after the exchange, the real estate was sold to legally obtain euros.