Sending Money Abroad: Spain To Austria Simplified

There are several ways to send money from Spain to Austria. You can use a bank transfer, which is free of charge within the European Union if you have the BIC and SWIFT codes. Alternatively, you can use an international money transfer agent such as Western Union or Moneygram, which is faster and more reliable than traditional bank transfers. Another option is to use a service like Wise, which offers low-cost and secure online money transfers. Finally, you can use a service like Remitly, which offers great rates and no hidden fees.

Using a bank transfer service

If you're looking to send money from Spain to Austria, one option is to use a bank transfer service. This method offers a number of advantages, including security and relatively fast transaction times. Here's a step-by-step guide on how to send money using a bank transfer service:

Step 1: Choose a Reputable Bank

Select a bank that offers international transfer services. In Spain, you can choose from a variety of banks, including traditional banks and digital banks. Compare the fees, exchange rates, and transfer speeds offered by different banks before making your decision. Some banks may charge higher fees and offer less favourable exchange rates, so it's important to shop around.

Step 2: Gather Recipient Information

To initiate the transfer, you will need to provide specific details about the recipient in Austria. This typically includes the recipient's full name, address, and bank details. Make sure you have the correct information to avoid any delays or issues with the transfer.

Step 3: Provide Transfer Amount and Payment Method

Decide on the amount you want to send and choose your preferred payment method. You can usually fund the transfer using your bank account, credit card, or debit card. Each payment method may have different fees and processing times, so consider which option best suits your needs.

Step 4: Initiate the Transfer

Once you have provided all the necessary information, you can initiate the transfer through your chosen bank. You may have the option to do this online, through a mobile app, over the phone, or in person at a branch. Follow the instructions provided by your bank to complete the transfer process.

Step 5: Track the Transfer

Most banks will provide a way to track your transfer. This could be through online banking, a mobile app, or by providing you with a tracking number. Tracking your transfer allows you to monitor the progress and ensure that the funds have been received by the recipient in Austria.

Additional Considerations:

• Fees and Exchange Rates: Be mindful of the fees and exchange rates associated with the transfer. Banks may charge a flat fee, a percentage of the transfer amount, or a combination of both. The exchange rate can also impact the amount received, so compare rates before finalising the transfer.
• Transfer Times: While some banks offer faster transfer options, standard bank transfers between Spain and Austria can take a few days to complete. If you require urgent transfers, consider alternative options such as money transfer agencies or mobile/online payment services.
• Recipient's Bank Account: Ensure that the recipient has provided you with the correct bank details, including the BIC (Bank Identifier Code) and IBAN (International Bank Account Number).
• Security: Always prioritise security when sending money internationally. Use reputable banks and secure payment methods to protect your financial information. Avoid sending sensitive information via unsecured channels.

Using a money transfer app

Western Union

Western Union is a well-known money transfer service that offers an app for sending money from Spain to Austria. Here's how you can use the Western Union app:

• Download the Western Union app on your device.
• Register for a free profile and log in to start sending money.
• Enter "Austria" as the destination and the amount you want to send.
• Select the recipient's bank account details or choose from saved recipients.
• Choose your preferred payment method, such as a bank account, credit card, or debit card.
• Look for a confirmation email containing a Money Transfer Control Number (MTCN) and share it with the recipient for tracking.

Wise (formerly TransferWise)

Wise is another popular option for sending money to Austria. Here's a step-by-step guide to using the Wise app:

• Sign up online or download the Wise app.
• Choose the amount you want to send and select Austria as the destination.
• Add the recipient's bank details in Austria.
• Verify your identity by providing a photo of your ID for some currencies or large transfers.
• Pay for the transfer using a bank transfer, debit card, or credit card.
• Track your transfer in your account, and Wise will notify your recipient.

Xoom (A PayPal Service)

Xoom is a PayPal service that allows you to send money to Austria. Here's how to use the Xoom app:

• Log in with your PayPal credentials or create a Xoom account.
• Enter the amount you want to send, the recipient's name, and where they will receive it in Austria.
• Choose your preferred payment method: PayPal, bank account, credit card, or debit card.
• Track your transactions and send money conveniently using the Xoom app.

PayPal

PayPal is a well-known online payment system that can be used for international money transfers. While it is not specifically mentioned for transfers from Spain to Austria, it is a popular option for international transactions. You can link your bank account, credit card, or debit card to your PayPal account and send money to recipients in Austria.

When choosing a money transfer app, it is important to compare fees, exchange rates, transfer speeds, and the security of the platform. Additionally, some apps may have minimum and maximum transfer limits, so be sure to check those as well.

Sending cash to be picked up in Austria

When sending cash to be picked up in Austria, there are several options available to you.

Western Union

Western Union is a well-known international money transfer service that has been in operation since 1851. With Western Union, you can send money from Spain to Austria for cash pickup at agent locations. The recipient can then go to the specified agent location with their identification to pick up the money.

MoneyGram

MoneyGram is another international money transfer service that you can use to send money from Spain to Austria. Like Western Union, MoneyGram allows you to send money to be picked up in cash at agent locations.

Remitly

Remitly is a popular online provider for transferring money from Austria to Spain and is often the cheapest option for cash pickups. You can use their website or mobile app to send money, and they offer excellent exchange rates and low fees.

Wise

Wise, formerly known as TransferWise, is another online service that allows you to send money from Austria to Spain. Wise uses the mid-market exchange rate and discloses its fees upfront, ensuring you know exactly how much your transfer will cost.

Bank Transfer

You can also use a traditional bank transfer to send money from Spain to Austria. However, keep in mind that international bank transfers can take weeks, especially between non-affiliated banks. Additionally, banks may offer "no-fee" transfers but may hide a markup in the exchange rate.

When sending cash for pickup in Austria, it is essential to consider the fees, exchange rates, and transfer speed offered by each service to determine the best option for your needs.

Using a credit or debit card

When choosing a provider, it is important to compare fees and exchange rates to ensure you are getting a good deal. While some companies may advertise advertise "no-fee" transfers, they may make up for this in poor exchange rates. Look for companies that offer transparent pricing and use the mid-market exchange rate, such as Wise.

To send money using your credit or debit card, you will typically need to sign up for an account with the provider and provide your card details. You will also need to provide your recipient's details, including their name, address, and bank account information. Some providers may require additional verification, especially for larger transfers.

Keep in mind that when using a credit card, your bank may consider the payment as a cash withdrawal and charge additional fees. Therefore, using a debit card is usually a cheaper option. Additionally, transfers within the European Union are typically free of charge if you have the BIC and SWIFT codes for the transaction.

Overall, using a credit or debit card to send money from Spain to Austria is a quick and efficient method, offering convenience and security through well-known providers.

Using a money transfer agency

Money transfer agencies like Western Union or Moneygram are a good option for sending money from Spain to Austria. They are generally faster and more reliable than traditional bank transfers, with transfers taking around 10 minutes. However, the commissions on telegraphic transfers are quite high, typically around 7 to 10 percent of the amount sent.

To use a money transfer agency, simply go to one of their agent locations and provide them with the money you want to send and the recipient's details, including where they will pick up the money. The recipient can then go to the specified location with their identification to collect the money.

Western Union, for example, offers several options for sending money from Spain to Austria:

• Cash pick-up: The sender can initiate the transfer through the Western Union app or at an agent location. The recipient can then collect the cash within minutes at an agent location of their choice.
• Bank account transfer: The sender can transfer money directly to the recipient's bank account using the Western Union app or at an agent location.
• Mobile wallet: The sender can transfer funds directly to the recipient's mobile phone through the Western Union app or at an agent location.

It is important to note that exchange rates and fees may vary depending on factors such as payment and payout methods, and are subject to change. Therefore, it is recommended to check the current rates and options before initiating a transfer.

Frequently asked questions