The cheapest way to move money from the UK to Spain for a winter stay is usually a specialist money transfer service or a multi-currency account that converts at or near the mid-market exchange rate with a small, transparent fee. High-street bank transfers are typically the most expensive option because of a weaker exchange rate and fixed fees.
Options compared
| Option | Exchange rate | Fees | Best for |
|---|---|---|---|
| Multi-currency account with card | At or near mid-market | Low, transparent | Everyday spending and rent |
| Specialist transfer service | Close to mid-market | Low | Paying rent or deposits |
| Currency broker | Competitive for large sums | Varies | Large transfers |
| UK high-street bank transfer | Often a markup | Fixed fee plus margin | Convenience only |
| Cash exchange at the airport | Poor | Hidden in the rate | Avoid |
How to compare
Always compare the total amount of euros received for the same number of pounds, not just the advertised fee. A “free” transfer with a poor rate can cost more than a small fee with a good rate.
Paying rent
- Ask your landlord for their IBAN and full name.
- Send a small test payment first if it is a new recipient.
- Keep the transfer confirmation as proof.
Spending day to day
Use a fee-free debit card and always choose to pay in euros when a card machine or ATM offers to charge you in pounds. See Best Cards to Use in the Canary Islands Without Fees.
Our verdict
Use a multi-currency account for daily spending and rent, and a broker only for large one-off sums.