How to transfer money from an EU country to Spain for a property purchase

Inside the eurozone: SEPA is your friend

If your source country uses the euro (Germany, France, Italy, Netherlands, Portugal, Ireland, Austria, Belgium, etc), transferring money to Spain is essentially free and instant. SEPA Credit Transfer is the standard EU payment scheme - any euro-account in the EU can wire to any other.

Parameter	2026 reality
Speed	Same-day or next business day (SEPA Instant is under 10 seconds)
Cost	€0 to €5 from most banks; €0 from neobanks (N26, Revolut, Wise)
Limits	€100 000+ per transfer is common; SEPA Instant capped at €100 000
Documents	None for the wire itself; Spanish bank may ask source-of-funds for €10 000+

For a typical €250 000 property purchase from Germany: one SEPA wire, settles same day, costs you €0-5.

Outside the eurozone but inside the EU

Sweden (SEK), Denmark (DKK), Poland (PLN), Czech Republic (CZK), Hungary (HUF), Romania (RON), Bulgaria (BGN), and the EEA countries (Norway, Iceland, Switzerland, Liechtenstein) need an extra currency conversion step.

Cheapest route per source country:

Source	Best route 2026	Typical cost
Czech Republic (CZK)	Wise or Revolut; pay in CZK, receive EUR	0.4-0.6 %
Poland (PLN)	Wise, Revolut, or Cinkciarz	0.3-0.5 %
Sweden (SEK)	Wise or SEB direct	0.4-0.7 %
Denmark (DKK)	Wise or Danske Bank direct	0.4-0.7 %
Switzerland (CHF)	Wise or UBS / Credit Suisse direct	0.5-1 %
Norway (NOK)	Wise or DNB direct	0.5-1 %
Hungary (HUF)	Wise (HUF mid-market rate beats bank by 2-3 %)	0.4-0.6 %

For sums over €100 000, your home-country bank's FX desk usually negotiates a tighter spread than Wise. Below €100 000, Wise wins on price.

What about the Spanish bank receiving end

Spanish banks process SEPA Instant in seconds. For SWIFT (US, UK, non-EU origin) they sometimes hold large amounts for 1-2 days for additional review.

For any incoming wire over €10 000, the Spanish bank may ask for proof of source of funds even from an EU sender. For routine EU-to-Spain wires, this is usually a quick formality:

• Last 3 months of bank statements from your home account
• Employment contract or tax return showing the income origin
• Sale contract of previous property if funds come from a sale

EU-EU AML rules are harmonized so this is much lighter than for non-EU sources.

A worked example - Germany to Spain

You are buying a €280 000 flat in Valencia. €84 000 down payment from your German bank, €196 000 mortgage from BBVA.

Step	Action	Cost
1	Open Spanish BBVA account (we arrange)	€0
2	SEPA wire €84 000 from your Sparkasse to BBVA	€0
3	Same day BBVA confirms incoming wire	€0
4	One week later sign at notary, BBVA issues cashier's check	€0 (FX-free if both EUR)
Total cross-border cost		€0

Compare to a Russian buyer paying via Cyprus (~1-2 % total) or a UK buyer post-Brexit (~0.3-1 % via Wise) - the eurozone advantage is real.

A worked example - Czech Republic to Spain

€280 000 flat. €84 000 down payment. Source: CZK savings at Komerční banka.

Step	Action	Cost
1	Transfer CZK 2.1m to your Wise account	CZK 0 (free into Wise)
2	Convert CZK to EUR in Wise	€420 (~0.5 % of €84k)
3	SEPA wire EUR 84 000 from Wise to your Spanish BBVA account	€0
4	Settles in BBVA same day	€0
Total cost		€420

If you went via Komerční Banka direct: spread of 2-3 % off the mid-market rate, cost would be €1 700-2 500. Wise saves you €1 200-2 000 on this transaction.

What to do BEFORE you wire

1. Tell us the source country when you start working with us. We pre-clear it with the Spanish bank
2. Open the Spanish account FIRST - never wire to "the seller" directly, money must land in your name in your Spanish account, then we issue a cheque bancario to the seller on signing day
3. Bring documentation ready - if your source country is non-EU (Norway, Switzerland), bring source-of-funds papers from the start

FAQ

Will my home bank block a large transfer to Spain? EU-to-EU wires almost never. Switzerland-to-Spain may trigger a phone call to verify it is you. US-to-Spain (covered in separate article) triggers FATCA reporting.

Do I need to declare to my home country tax office that I bought property in Spain? Most EU countries: yes, in the annual wealth declaration. Spain has automatic information sharing under CRS / DAC6 - your tax office will find out anyway.

Can I use Revolut or N26 instead of my normal bank? Yes, fully. Both are EU-licensed and SEPA-native. For amounts over €100 000 some neobanks ask for additional KYC.

What we do

We help EU buyers:

1. Pre-open the Spanish bank account before your first wire
2. Coordinate the timing so funds arrive in time for the signing date
3. Translate any source-of-funds documents the Spanish bank requires
4. Issue the cashier's check to the seller on signing day

Email info@wesnagroup.com or browse our catalog.

Related:

• NIE for foreigners
• Total cost of buying property