Last Updated on April 18, 2026 by Bruno Bianchi
Question
What are people using to transfer money (large sums) from Canada to Spain accounts? I have a list of options but would like to add to it; and to hear from people in the same boat about recent experiences.
Answers
These are the answers of Spainguru’s Facebook group members:
Planning your move to Spain?
Get the free step-by-step roadmap used by 10,000+ expats — covering visas, budget, housing, and the mistakes to avoid.
Start the Moving to Spain Hub →“Unless it’s for a large purchase and won’t be in the bank long, I’d keep your money in Canada and use Wise for small transfers as needed.”
“Out of curiosity, why keep it in Canada?” – “Let’s just say banks here don’t seem to be as regulated as in Canada. Withdrawals can be made to your account for unpaid fines and taxes, even if you didn’t know you were in arrears.”
“At the very least, open an account elsewhere in the Eurozone. Hedging against exchange rate fluctuations is important. Holding one’s assets in CAD when spending in EUR can be risky in its own right.”
“We use Wise, but when we transferred the large amount for our house, we used OFX for a better exchange rate. Talk to your Canadian bank about authorizing large transfers when abroad, as most banks require an in-branch visit. We managed to arrange this by phone.”
Not sure which city is right for you?
Compare cost of living, weather, expat community size, and lifestyle across 13 Spanish cities in our free guide.
Explore Cities →“I’m using Currencies Direct for large amounts from BMO. The two organizations have an agreement, which helps avoid red flags or holds on transferred funds.”
“Moneycorp is based in Marbella. As a note, if you’re in Spain, you may need to fly back to Canada to release large funds, as some banks won’t do this remotely. It was a costly surprise for me.”
“For large amounts, Spartan FX (UK) comes recommended. Knightsbridge, a Canada-based agency, might also be good. For smaller amounts, Wise works well, offering American, Canadian, and Belgian account details so you can send and receive directly. It’s convenient, but large sums might trigger holds to check for money laundering, slowing things down.
No matter what, don’t use your bank. They may not charge much for the transfer but will give a poor exchange rate.”
“I have had excellent experience with Lumon and would be happy to connect you with a reputable agent here. They provide personal advice and work with you individually.”
“Your best bet is Bitcoin, really.”
“Wise app is generally recommended for straightforward transfers.”
“Has anyone used Remitly?”
“The most frequent question here is about driving licenses! But for money transfers, Wise is popular.”
Conclusion
In discussions about transferring money from Canada to Spain, Canadians frequently recommend using specialized currency transfer services rather than traditional banks, especially for large sums. Options like Wise, OFX, Currencies Direct, Spartan FX, and Knightsbridge each offer unique benefits.
Wise is commonly used for small, regular transfers due to its ease and multi-currency features, but some suggest using providers like OFX or Currencies Direct for larger, one-time amounts due to better exchange rates.
Additionally, many advise avoiding traditional banks due to poor exchange rates and international transfer limitations that often require in-branch visits.
Get your free step-by-step Spain move plan
10 emails over 2 weeks covering visas, budget, housing & the mistakes to avoid.
Join 10,000+ expats who used this roadmap.
100% free · No credit card · Unsubscribe anytime
