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Updated: October 2026

Whether you are paying a mortgage back home, supporting family, moving savings for a property purchase or simply paying a bill in another country, sending money out of Spain can cost far more than it needs to. This guide compares the main types of provider in a neutral way, explains where the hidden costs are and shows how to work out the real price of a transfer before you send it.

First question: euros or another currency?

The cost of a transfer depends far more on where the money is going and in which currency than on which bank you use.

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Euros to another SEPA country

If you send euros to an account in another country of the Single Euro Payments Area (SEPA), which includes the EU and countries such as Norway, Switzerland and the UK, the transfer works like a domestic one. Under EU rules, a cross-border euro transfer within the EU cannot cost more than the same transfer inside Spain, and many Spanish banks do not charge for online transfers at all.

Two newer EU rules also help:

• Instant transfers at the same price: since 9 January 2025, banks in the euro area cannot charge more for an instant euro transfer than for a standard one. Instant transfers arrive within seconds, every day of the year.
• Verification of payee: since 9 October 2025, your bank must check whether the name you enter matches the IBAN before you send, and warn you if it does not. This helps protect you from scams.

Branch transfers can still carry a fee, so doing it in your app or online banking is usually cheapest.

Other currencies or countries outside SEPA

Sending money to the US, Morocco, Colombia or anywhere in another currency, including pounds to a UK account, is where costs add up. You may pay:

• An upfront fee charged by your provider.
• An exchange-rate margin: the difference between the rate you get and the mid-market rate (the rate you see on financial news sites). This is often the biggest cost and the least visible.
• Intermediary and receiving fees: international SWIFT transfers can pass through correspondent banks that take a cut, and the receiving bank may charge too.

When a bank asks who pays the charges, the usual options are SHA (shared: you pay your bank, the recipient pays theirs), OUR (you pay all charges) and BEN (the recipient pays everything). If the exact amount must arrive, for example a rent or invoice, check which option you choose.

The main types of provider compared

Fees and rates change constantly and depend on the amount and destination, so this table compares how each type of provider usually works rather than quoting prices.

No single type is always cheapest. For a small monthly amount to a family member, an online service or app may win. For €200,000 towards a property, a bank or broker quote may beat both. If you have not yet chosen a Spanish bank, see our guides to opening a bank account in Spain and traditional and online banks for expats.

How to compare the real cost

1. Decide the exact amount you want to send and the currency the recipient needs.
2. Check the current mid-market rate on a neutral financial site.
3. Ask each provider for a quote showing the amount the recipient will receive, after all fees.
4. Compare that figure, not the advertised fee. A “no fee” offer with a poor exchange rate can be the most expensive option.
5. Check delivery time and whether the receiving bank charges for incoming international payments.

For transfers between EU currencies, providers have to show you the currency conversion charge before you confirm, which makes comparing easier.

Safety: check the provider is authorised

Any company that moves money for you in Spain must be authorised as a bank, payment institution or electronic money institution, either by the Banco de España or by another EU supervisor. You can check this in the Banco de España’s register of entities; for firms from other EU countries, the European Banking Authority’s register applies.

• Never send money to someone you have only met online, or because of an urgent call or message claiming to be your bank.
• Take the verification of payee warning seriously; transfers are hard to reverse once sent.
• For property purchases, confirm bank details by phone with your lawyer or notary using a number you already know, not one in an email.

Large amounts, paperwork and tax

Under anti-money-laundering rules, banks and transfer services can ask where large sums come from. Keep documents such as a sale contract, payslips or an inheritance deed to hand to avoid delays.

Sending money abroad is not taxed as such, but the money itself may have tax consequences: gifts can fall under Spanish gift tax depending on the region, and if you are tax resident with accounts abroad you may need to report them on Modelo 720. Carrying cash instead of transferring it is rarely a good idea: amounts of €10,000 or more entering or leaving Spain must be declared to the authorities.

Useful links

• Banco de España: Bank Customer Portal (information and complaints)
• Banco de España: unauthorised entities and how to check a provider (Spanish)
• OCU: instant transfers and verification of payee explained (Spanish)
• How to open a bank account in Spain
• The best banks in Spain for expats

FAQ: sending money abroad

Disclaimer: This article is general information only and is not financial or tax advice. Fees, exchange rates and rules change frequently – always check the current terms with the provider and the official source before you send money.

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Updated: October 2026

A letter from the Agencia Tributaria (AEAT) can be unsettling, especially if you are still learning how Spanish taxes work. This guide is for foreign residents, freelancers and property owners who have been contacted by the Spanish tax office, or want to be prepared. You will learn the difference between a simple check and a full inspection, how to respond, which deadlines matter and how to appeal.

Audit, check or inspection: what is the difference?

Most contact from the tax office is not a full audit. Spanish tax law (Ley 58/2003, General Tributaria) sets out several procedures, and it helps to know which one you are in, because the rules and time limits differ.

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• Requerimiento (request for information): the office asks you to send a document or explain an item on your return. Often this is the whole matter.
• Comprobación limitada (limited check): a desk review by the management department, usually about specific items such as a deduction, rental income or a missing return. The maximum duration is six months.
• Inspección (inspection): a deeper review carried out by the inspection department, which can cover several taxes and years. The general maximum duration is 18 months, extended to 27 months in certain larger or more complex cases.

The letter you receive states which procedure has been opened, which tax and which years are covered. Read that part first.

Why foreigners get contacted

Foreigners are not targeted as a group, but some situations are more likely to trigger questions. The tax office cross-checks your return with data from banks, employers, notaries, land registries and, through automatic exchange of information, tax authorities in other countries.

• Foreign income (pensions, salaries, dividends) that does not appear on your Spanish return
• Foreign bank accounts or assets that were not declared on Modelo 720 when required
• Rental income from a Spanish property that was not declared, or non-resident tax that was not paid
• Doubts about your tax residence, for example if you spend more than 183 days a year in Spain but file as a non-resident
• Freelance (autónomo) invoices and VAT returns that do not match each other

How to respond step by step

1. Check that it is genuine. Official notifications arrive by registered post or in your electronic mailbox at the AEAT Sede or DEHú. Be wary of emails or text messages asking you to click a link or pay; the tax office does not ask for card details that way.
2. Note the deadline. The letter states how long you have to reply, often ten working days for a request for documents. If you are signed up for electronic notifications (mandatory for companies), a notification you do not open within ten calendar days is treated as delivered, so the deadline still runs.
3. Gather the documents asked for and nothing more than what is relevant. Keep copies of everything you hand over.
4. Reply through the official channel mentioned in the letter, usually the online Sede using your digital certificate, Cl@ve or a reference number, or in person with an appointment. Keep the registration receipt.
5. Ask for more time if you need it. You can request an extension before the deadline ends, explaining why (for example, waiting for documents from abroad).
6. Read the proposal carefully. At the end of a check you normally receive a proposal (propuesta de liquidación) and a period to submit comments (alegaciones) before the final decision.

Documents you may be asked for

• Spanish and foreign bank statements
• Employment contracts, payslips, pension statements or freelance invoices
• Proof of residence: padrón certificate, rental contract, utility bills, travel records
• A tax residence certificate from another country, if you claim to be resident there
• Purchase and sale deeds, receipts for deductible expenses and proof of foreign tax paid

The general limitation period for tax debts in Spain is four years, so keep your records for at least that long, counted from the end of the filing period of each return. Keep documents about property purchases and investments for as long as you own the asset, plus four years.

Possible outcomes and how to appeal

A check can end with no changes, or with an assessment (liquidación) of extra tax plus late-payment interest. If the office considers that you committed a tax offence, a separate penalty procedure is opened. Penalties can be reduced if you accept the assessment and pay within the deadline, so ask your adviser to calculate this before deciding whether to agree.

Appealing does not automatically stop the debt from being collected. To suspend payment while you appeal, you normally have to request it and offer a guarantee.

Modelo 720 and foreign assets

Tax residents must file Modelo 720 by 31 March if they hold more than 50,000 euros in one of three categories abroad: bank accounts, securities and investments, or real estate. In January 2022 the Court of Justice of the European Union ruled that the old, very high fixed penalties for late or missing 720 returns broke EU law, and Spain changed the system. However, undeclared foreign income can still be assessed, so if you have missed a 720 or not declared foreign income, get advice and consider correcting it voluntarily before the tax office contacts you.

Practical tips for expats

• Never ignore a letter, even if you have moved abroad. Keep your address up to date with the tax office.
• Get a digital certificate or Cl@ve so you can read notifications and reply online.
• Use a qualified adviser (asesor fiscal, gestor or tax lawyer) for inspections or anything involving foreign income. Many work in English.
• Stay factual and polite. Answer exactly what is asked and put your explanations in writing.

For the basics of income tax, residence and the main returns, read our guide to understanding the tax system in Spain.

Useful links

• Agencia Tributaria – official tax office website and online Sede
• Understanding the tax system in Spain
• Property taxes for foreign owners in Spain
• Investment strategies for expats in Spain

FAQ: Spanish tax audits

Disclaimer: This article is general information only and is not tax or legal advice. Procedures and deadlines can change – always check your notification and the Agencia Tributaria, or consult a qualified adviser, before you act.

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Updated: October 2026

A Spanish bank account is one of the first things you need when you move to Spain. You need it for your salary or pension, rent, electricity, internet, phone contracts and paying taxes. This guide explains which account types exist in 2026, what documents banks ask for, and how to open an account step by step as a foreigner.

Why you need a Spanish bank account

• Receiving your salary or pension.
• Paying rent, utilities and community fees by direct debit (domiciliación).
• Setting up internet and mobile phone contracts – many providers want a Spanish IBAN.
• Paying taxes and social security, and receiving refunds from the tax office.
• Applying for a mortgage later on.

Types of bank accounts in Spain

• Resident account: for people who live in Spain and have a NIE or TIE. It gives full access to banking services and is usually cheaper.
• Non-resident account: for people who live in Spain less than 183 days a year, for example holiday home owners. Banks ask for a non-residence certificate and fees are often higher.
• Basic payment account (cuenta de pago básica): every person legally living in the EU has the right to this simple account. The fee is capped at €3 per month, and it is free for people in a vulnerable financial situation.
• Online banks and fintechs: digital accounts with low fees, opened from your phone. Check that you get a Spanish IBAN (starting with ES) if you need it for direct debits.

Documents you need in 2026

• Valid passport or EU ID card.
• NIE number or TIE card. Many banks will not open a resident account without it – see how to get your NIE.
• Proof of address: rental contract, utility bill or empadronamiento certificate.
• Proof of income or activity: work contract, payslips, pension statement or self-employed registration.
• Your tax number from your home country (banks must report foreign tax residents).
• For non-resident accounts: a non-residence certificate, which the bank can often request from the police for you.

Because of anti-money-laundering rules, the bank will also ask where your money comes from and what you will use the account for. This is normal – answer clearly and bring documents if you plan to transfer larger amounts.

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How to open a bank account – step by step

1. Choose a bank. The big banks are Santander, BBVA, CaixaBank, Sabadell, Bankinter and Unicaja. Compare monthly fees, card costs and whether the app and staff work in English.
2. Collect your documents from the list above.
3. Apply online or in a branch. Many banks let you start online with video identification. Some still require a branch visit for foreigners.
4. Sign the contract digitally or in the branch, and read the fee list (tarifas) before you sign.
5. Activate the app and card. Set up online banking and add the account to your direct debits.

How to avoid high fees

• Many banks waive the monthly fee if your salary or pension is paid into the account, or if you use the card a few times a month.
• Check ATM fees – withdrawing cash at another bank’s ATM can cost money.
• Use Bizum (built into most Spanish bank apps) for free instant payments between people in Spain.
• For money from abroad, compare the bank’s exchange rate with services like Wise.

FAQ: bank accounts in Spain

Useful links

• Banco de España – bank customer portal (fees, complaints, basic account)
• Get your NIE number
• Getting a mortgage (hipoteca) in Spain

Disclaimer: This article is for general information only and is not financial advice. Fees and requirements vary by bank – always check the bank’s current conditions.