If you want to save money moving to Spain, especially for making payments in different countries, you really need to open a currency transfer account. Wise is our chosen company for smaller transactions and bill payments.
Also, if you are paying us in a foreign currency, we recommend using Wise. It’s up to 8 times cheaper than using your local banks because Wise always uses the real exchange rate – which you can see on Google – and charges a very small, upfront fee. They’re also safe and trusted by over 10 million people around the world.
You can sign up here, and read below to see how it works.
Create a Wise account and send a transfer to our bank account that is detailed on your invoice.
What is Wise?
Wise is a global technology company building the best way to move money around the world. It is an easy way to save money when moving to Spain and once you are living in Spain.
Wise offers an international account with over 50 currencies, with instant, super-cheap money transfers, and a card to spend in any currency. Wise is on average 7x cheaper than old-school banks when you send, spend, or withdraw money around the world.
How to send money with Wise?
- Go to wise.com
- Create your free account
- Set up your transfer – specify the amount, currencies of the sender and receiver, and some information about yourself (for verification)
- Include our invoice number (if you are paying for our services!).
- Fund the transfer with money from your local bank account, or via debit or credit card
- Wise will send the money to your recipient’s bank account (they don’t need a Wise account, just any bank account)
Other features of the Wise account
- Balances – you can hold and convert money between the 50+ currencies in which we offer Wise balances. We always use the real exchange rate to convert your money which makes our service up to 7 times cheaper than traditional banks.
- Bank details – we offer local bank details in 10 currencies (US dollars, British pounds, Euro, Canadian, Australian, New Zealand, and Singapore dollars, as well as Hungarian forint, Romanian leu, and Turkish lira). You can use these bank details to receive money for free into your Wise account, which you can then convert or hold.
- Direct debits – our US, British pound, and Euro bank details allow you to set up direct debits to pay for utility bills or any other subscriptions or automated payments.
- Debit card – with the Wise Visa card, you can spend in over 200 countries without hidden fees. Add it to your Apple or Google wallets for convenient use.
- Money transfers – send money to over 60 countries at the real exchange rate and low, transparent fees
- Jars – Money in a jar is kept separately from your balances if you are saving it for something later. You can’t accidentally spend it with your debit card, and you can’t send it or use it to pay Direct Debits. You can open as many jars as you need to organise your money.
1. How much does it cost?
Wise always uses the mid-market exchange rate and charges a small fee for sending money.
The transfer fee depends on the currencies and the amount of the transfer. Visit the pricing page to find out exactly how much money you need to pay for our services by using their currency calculator.
2. How long does a transfer take?
30% of all transfers are instant and over 75% of our transfers arrive within 24 hours. Depending on the currencies you are sending, how you choose to fund your transfer and any security checks the delivery time may vary.
You can always check the status of your transfer in your Wise account.
3. Is Wise safe?
Yes. Wise is regulated by the Financial Conduct Authority (FCA) in the UK and many other regulators around the world. They hold Wise to the same standards as banks.
Wise also has great customer support; you can reach them anytime by phone, email, or social media.