How to Send Money to Portugal from Spain: Best & Cheapest Way

Sending money from Spain to Portugal sounds like it should be as easy as ordering a pastel de nata in Lisbon
(and honestly, it can be). But “easy” and “cheap” don’t always ride the same train. Some services
look free, then quietly charge you through a worse exchange rate. Others are fast, but price themselves like
they’re delivering your euros by private jet.

The good news: because Spain and Portugal both use the euro and sit inside the SEPA zone, you have an unfair
advantage. In many everyday cases, the best and cheapest option is simply a SEPA bank transfer in EUR
(standard or instant). For speed, convenience, or cash pickup, money transfer apps and remittance services can still
make senseif you know what to compare.

The Quick Answer: What’s Usually Cheapest?

If your sender has a Spanish bank account and your recipient has a Portuguese bank account, the cheapest route is
typically a SEPA Credit Transfer in EUR. It’s designed for euro-to-euro transfers inside Europe, often with
low fees (sometimes free), and predictable delivery times. If both banks support SEPA Instant, you may get
near-instant delivery for a small extra feeor sometimes no extra fee at all, depending on the bank.

If you don’t have bank details, want to fund with a card, need delivery in minutes, or the recipient prefers cash
pickup, then a transfer app (like Wise or Revolut) or a remittance provider (like Xoom, MoneyGram, or Western Union)
can be the better “best,” even if it’s not always the absolute cheapest.

What “Cheap” Really Means: Fees vs. Hidden Costs

Before you click “Send,” know what you’re paying for. International transfers usually come with two types of costs:
transfer fees (flat or percentage-based) and rate markup (a worse exchange rate than the mid-market rate).
For Spain to Portugal, you’re often sending EUR to EUR, so exchange rate markup may not applyunless you fund the transfer
in a different currency or your service tries to convert behind the scenes.

Common cost traps (and how to dodge them)

• “No fee!” marketing: Sometimes true, sometimes it’s “no fee… plus a not-so-great rate.”
  If you’re sending EUR to EUR, keep it in EUR end-to-end.
• Card funding costs: Paying with a debit/credit card can be faster but often costs more than bank transfer funding.
• Weekend surprises: Some apps add extra FX fees on weekendsrelevant if you’re converting currencies.
• Recipient bank fees: Rare for SEPA in many cases, but not impossible depending on account type.

Best Ways to Send Money from Spain to Portugal (Ranked by Value)

1) SEPA Bank Transfer (Best “Cheapest Overall” for EUR-to-EUR)

A SEPA Credit Transfer is built for exactly this situation: euro transfers between banks in participating European countries.
If you’re paying rent in Porto, sending money to family in Braga, or moving funds between your own accounts, SEPA is usually
the most cost-efficient and straightforward choice.

Why it’s often the best:

• Low cost: Many banks price SEPA transfers cheaply compared to “international wires.”
• Simple details: Typically you need the recipient’s name and IBAN (and sometimes BIC).
• Solid speed: Standard SEPA often arrives within about 1 business day; instant options can be much faster when supported.

Watch-outs:

• Cutoff times: Sending after a bank’s cutoff can push delivery to the next business day.
• Bank UI “gotchas”: Some apps label SEPA transfers differentlylook for “SEPA” and “EUR.”
• Typos cost time: A wrong IBAN can delay the transfer or bounce it back.

2) Money Transfer Apps (Best Blend of Price + Convenience)

Transfer apps can be great when you want a smoother interface than traditional banking, need card funding,
or want extra features like tracking, saved recipients, or instant transfers between users of the same app.
For Spain → Portugal in EUR, these apps are often competitivejust compare funding method and any service fees.

Wise (great transparency, strong for cross-border transfers)

Wise is popular for transparent pricing and showing you fees up front. If your transfer involves currency conversion,
Wise is known for pricing that’s easy to see before you commit. For EUR-to-EUR, the main difference tends to be
how you fund the transfer (bank transfer usually cheaper than card).

Revolut (handy if you already use it day-to-day)

Revolut can be extremely convenient for moving money across borders, especially if both people use the app.
If you’re converting currencies, pay attention to plan limits and timing (some plans charge extra for weekend FX).
For EUR-to-EUR, it can be a clean, quick optionparticularly for repeat transfers.

PayPal (convenient, but be careful with currency conversion)

PayPal is everywherelike that one friend who “just happens” to be at every party. It’s convenient for sending to an email,
paying for goods/services, and quick transfers between PayPal users. The tradeoff is cost: PayPal can charge currency conversion
fees when conversion happens. If you keep everything in EUR, you’ll generally avoid the worst surprises.

3) Remittance Services for Speed or Cash Pickup (Best When the Recipient Needs Cash)

If the recipient in Portugal wants cash pickup or you need delivery in minutes, traditional remittance players can win on
logistics. The price can be higher than SEPA, but they offer something banks often don’t: lots of pickup locations
and faster “cash-in-hand” delivery.

• Xoom (PayPal service): Often positioned as fast and digital-friendly.
• MoneyGram: Known for global reach and multiple payout methods, including cash pickup.
• Western Union: Massive network; convenient for recipients who prefer in-person pickup.

These services typically vary pricing based on payment method (bank vs card), delivery method (bank deposit vs cash pickup),
and speed (economy vs express). Always compare the final amount the recipient gets in EUR.

Compare Your Options at a Glance

How to Choose the Best & Cheapest Way for Your Situation

Pick SEPA if…

• You’re sending EUR to a Portuguese bank account (IBAN available).
• You can wait until the next business day (or instant is available).
• You want minimal fees and a familiar banking trail for records.

Pick a transfer app if…

• You want a smoother mobile experience, saved recipients, and tracking.
• You might fund via card (you’ll pay more, but gain speed/convenience).
• You send repeatedly and want automation or templates.

Pick a remittance service if…

• The recipient needs cash pickup or doesn’t use bank transfers.
• You need delivery in minutes (or as close as possible).
• You’re okay paying a bit more for wide physical coverage.

Step-by-Step: Sending Money from Spain to Portugal (Without Overpaying)

Step 1: Gather the right recipient details

• Recipient full name (as on their bank account)
• Portuguese IBAN (this is the big one)
• BIC/SWIFT (sometimes required; often optional for SEPA depending on bank)
• Reason/reference (helpful for rent, invoices, shared expenses)

Step 2: Choose the cheapest funding method

If you’re using an app or remittance provider, you’ll often see multiple ways to pay:
bank transfer (usually cheapest), debit card (often pricier but faster),
and credit card (often the most expensive).

Step 3: Send in EUR and look for “SEPA”

For bank-to-bank transfers, selecting EUR + SEPA is the classic money-saving move.
It avoids unnecessary routing and (in most cases) avoids currency conversion entirely.

Step 4: Do a small test transfer if it’s a new recipient

If you’re sending a large amount (say, a deposit for an apartment or a big invoice), consider sending a small test amount first.
It’s not dramaticit’s just cheaper than learning you typed one digit wrong in an IBAN after you’ve sent your entire budget for groceries.

Step 5: Save proof and track delivery

Keep the confirmation screen or receipt. For recurring payments (rent, tuition, services), consistency helps:
same reference text, same day of month, and clear notes.

Tips to Make Transfers Even Cheaper

• Avoid “dynamic currency conversion” (DCC): if you ever pay by card abroad, always pay in EUR rather than accepting an on-the-spot conversion.
• Send on business days: banks process faster, and some services price better when markets are open.
• Compare “recipient gets”: the cheapest-looking fee isn’t always the best total cost.
• Use bank transfers to fund apps: it’s often the lowest-cost option.
• Watch promo offers carefully: first-transfer discounts exist, but read the fine print (limits, payout methods, minimums).

Safety Checklist (Because Scammers Love Urgency)

Money transfers can be very hard to reverseespecially if you send to the wrong person or a scammer. Keep it boring and careful:

• Verify the recipient through a second channel (call them, don’t just trust a text).
• Double-check the IBAN (copy/paste when possible; read it out in chunks).
• Beware pressure tactics like “send now or else.” That’s a giant red flag.
• Use 2FA on banking and transfer apps.
• Keep receipts and screenshots of confirmations.

FAQ: Spain to Portugal Money Transfers

How long does a SEPA transfer from Spain to Portugal take?

Standard SEPA transfers are commonly delivered by the next business day (often sooner), while SEPA Instantif available at both bankscan arrive in seconds.
Cutoff times, weekends, and holidays can affect timing.

Do I need SWIFT for Spain to Portugal?

Usually not. For typical EUR transfers within Europe, IBAN + SEPA is the standard route. SWIFT is more common for transfers outside the SEPA framework.
If your bank asks for SWIFT/BIC, provide it, but still ensure the transfer is labeled SEPA in EUR where applicable.

What’s the cheapest way to send a small amount (like €20–€50)?

If both parties have bank accounts, SEPA can still be cheapest. If you’re sending tiny amounts frequently, a peer-to-peer app transfer (where both users are on the same platform)
may be convenient, but always check whether withdrawals or transfers out to a bank add fees.

What about large transfers (like a security deposit or paying a contractor)?

For large EUR transfers, SEPA bank transfer is usually the first place to look. For very large amounts, confirm your bank’s daily transfer limits, recipient name formatting,
and any required reference text. A small test transfer can reduce risk.

Conclusion: The Best & Cheapest Way (Most of the Time)

For most people sending money from Spain to Portugal, the best and cheapest solution is refreshingly unsexy:
a SEPA bank transfer in EUR. It’s low cost, widely supported, and built for cross-border euro transfers.
If you need extra convenience, card funding, or cash pickup, apps and remittance services can still be smartjust compare total cost using the “recipient gets” number,
keep transfers in EUR when possible, and don’t let urgency bully you into mistakes.

Real-World Experiences: What It’s Like in Practice (500+ Words)

Here’s what the process often looks like in real lifebecause the cheapest method on paper sometimes collides with reality (like bank cutoffs, missing IBANs,
or the simple fact that your landlord wants money now and doesn’t care that it’s a holiday).

Experience #1: “I’m paying rent in Porto from Barcelona”

A common scenario: you work in Spain but rent a place in Portugal (or you’re splitting time between both). People usually start with a bank transfer, because rent is predictable
and the recipient (landlord or agency) expects a bank deposit. The first transfer often takes the longestnot because SEPA is slow, but because you’re collecting details:
the correct IBAN, the exact account-holder name, and the reference they want (contract number, apartment address, month).

Once the recipient is saved in your banking app, it becomes a two-minute monthly chore: pick the saved payee, enter the amount, paste the reference, and send.
The “aha” moment for many renters is learning that sending on a Friday afternoon after the cutoff can push arrival to Monday. So they shift to sending on Thursday
or early Fridaysame cost, less stress, fewer “did you pay yet?” texts.

Experience #2: “I’m sending money to family in Portugal, but they prefer cash”

Not everyone wants bank transfers. Some recipients prefer cash pickupespecially for occasional support payments or when the recipient doesn’t use online banking much.
In those cases, people often choose a remittance provider with strong local coverage. The experience usually feels like trading a bit of money for convenience:
the sender pays with a card, chooses a pickup option, and the recipient collects cash at a nearby location.

What tends to surprise first-timers is that speed and payout method can change the price. Bank deposit may be cheaper than cash pickup. Slower delivery can be cheaper than “in minutes.”
And even when the fee looks small, the exchange rate can matter for cross-currency transfers (less of an issue for EUR-to-EUR). People who repeat this process get more strategic:
they compare “recipient gets” amounts across two or three services, pick the one that reliably works in the recipient’s city, and stick with it.

Experience #3: “We’re splitting shared expenses on a trip”

Friends traveling between Seville and Lisbon often end up playing the classic game: “I’ll pay now, you send me your half.” For quick, casual settling-up,
people frequently use whichever app both friends already have. The best experience is when both users are inside the same platformmoney moves instantly, no bank details needed,
and the awkwardness ends before dessert arrives.

The cost lesson here is subtle: if you’re transferring inside an app, it may feel free, but getting money out to a bank account can take time or trigger limits.
Seasoned users handle this by keeping small travel balances in-app, using bank transfers for larger settlements, and setting a personal rule:
if it’s more than a “nice dinner” amount, they switch to SEPA with a clear reference (“Trip Split – Dec 2025”).

Experience #4: “I’m paying a Portuguese freelancer for remote work”

Small business owners and freelancers often care about two things: the recipient actually gets the right amount, and the payment has a clean paper trail.
Invoices push people toward bank transfers (SEPA) because the records are easy: date, amount, recipient IBAN, and reference/invoice number.
The best practice many adopt is to standardize the reference text, so bookkeeping stays simpleespecially if payments happen monthly.

The “cheapest” part here isn’t just fees; it’s avoiding mistakes. People who pay vendors regularly learn to verify recipient details once, save them,
and then repeat the same workflow. When something goes wrong, it’s usually a typo or a missing referencenot the SEPA system itself. That’s why
the most valuable habit is boring: copy/paste carefully, confirm details before sending, and keep your receipts.