Guide for UK Buyers: How to Transfer Money to Spain Without Losing on the Exchange Rate
Buying a property in Spain is extremely popular among UK residents, especially in areas like the Costa del Sol. But one of the biggest challenges in the process is transferring money from the UK to Spain without losing thousands due to exchange rate fluctuations.
This guide explains everything UK buyers need to know — the risks, the transfer options, the costs involved, and how to protect your budget throughout the purchase process.
👉 Looking for expert help?
Why UK buyers often lose money when transferring funds
The biggest problem isn’t bank fees.
It’s the GBP/EUR exchange rate.
Even a small market movement of 1–2% can increase or reduce the real cost of your property by several thousand euros. Because a purchase involves multiple stages (reservation, deposit, completion), the exchange rate may move dramatically in between.
This is why many British buyers use currency specialists like Lumon, who allow you to secure a rate in advance and avoid surprises.
Transfer options for UK buyers sending money to Spain
1. UK High-Street Banks (HSBC, Lloyds, NatWest, Barclays)
Higher exchange rate margins
Potential international transfer fees
Slower processing times
No personalised guidance
Suitable only for small transactions, not property completions.
2. Money Apps (Wise, Revolut, etc.)
Good for everyday spending
Not designed for large real-estate transactions
No ability to fix an exchange rate
Potential delays for high-value transfers
Good option for small payments — not ideal for deposits or completions.
3. FX Specialists for Property Purchases (Lumon)
More competitive exchange rates
Ability to lock in a rate for months
Personal currency specialist
Designed specifically for international property purchases
This is the option most UK buyers choose when purchasing in Spain.
How much does it cost to send money from the UK to Spain?
The total cost is made up of three components:
1. The exchange rate margin (the most expensive part)
Banks typically add a hidden margin of 2–4% on the exchange rate.
On a €300,000 property, this could mean losing £3,000–£8,000.
2. Transfer fees
Some banks charge additional outbound or inbound fees.
3. Delays or compliance checks
Large transfers can be flagged for extra verification.
Using a specialist like Lumon typically results in lower costs and faster processing
👉 For tailored advice, speak with our trusted currency partner
How to protect your budget from exchange rate movements
1. Forward Contract (lock in your rate)
You secure today’s GBP/EUR rate for up to 12 months.
Perfect if you’ve agreed a price but not completed yet.
2. Market Orders
You choose a target rate, and the transfer executes automatically when the market reaches it.
3. Personal currency strategist
A professional monitors the market for you and recommends the best time to transfer.
These tools are not available through traditional banks or basic money apps.
Step-by-step: How UK buyers transfer money to Spain
Open a Lumon account (free and fast).
Send funds in GBP from your UK bank to your Lumon account.
Exchange GBP to EUR at the agreed or secured rate.
Lumon transfers the euros to your Spanish bank, lawyer, or notary.
You receive proof of payment for your purchase file.
Everything is tracked, compliant and accepted by Spanish legal representatives.
How long does a transfer from the UK to Spain take?
UK banks: 2–5 business days
Apps (Wise/Revolut): 1–2 days
Lumon: Same day or within 24 hours in most cases
This speed is crucial, especially close to completion.
Why we recommend Lumon to our UK clients
Most UK buyers in areas like La Cala de Mijas prefer to use Lumon because:
They offer more competitive exchange rates
You can secure a rate months in advance
They specialise in high-value property transfers
You get a personal currency expert guiding you through the process
Faster transfers with clear documentation for lawyers and notaries
👉 If you’re buying a property in Spain and want to transfer money safely from the UK, we can connect you directly with Lumon for personalised assistance.
Transferring money from the UK to Spain is one of the most important financial steps in your property purchase. By understanding the risks and choosing the right method, you can save thousands and avoid unnecessary stress.
Using a specialist like Lumon ensures speed, security, and a protected exchange rate — something no high-street bank can match.