There are many people receiving remittances from Spain. The country receives billions and billions of money every year from around the globe. Not just specifically from Malaysia but also from Germany, France, and Argentina, and the UK.
The banking system is supportive of such and by money transfer companies.
Residents of Spain have been receiving a large volume of money from Malaysia, it may be from relatives, from any member of the family, or even from employers.
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- Wise is a very good provider for overseas transfers. The transfers are easy, convenient and secure. The most important thing is that the transfers are also much cheaper than with the bank.
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- Azimo is a very competent partner for the international transfer. Azimo has a large selection of countries and the transfers are safe and cheap.
Duration: Send Money from Malaysia to Spain
Receiving money may take just a few minutes where some can receive their money in real-time. There is also an option now that receivers can get their money after processing from Malaysia, so the receiver can withdraw the money in just a few minutes.
Some recipients receive their money within 24 hours, which is not that long compared to some recipients who received their money after 3-days.
- Transfer fees range from $10 to $14.77 and up. Sometimes it varies more depending on how much money you want to send.
- What you can do is to get the best bargain by checking from different money transfer companies as well as bank transfers.
The most obvious way to send money to Spain is via bank. As long as you know the bank account number of the person you want to send money to, then you can have the money-sending processed. You may get charged higher though, so you need to decide which way you want to use to send the money.
Transfer money from Malaysia to Spain with the bank
The thing with transferring money via bank is that they sometimes charge higher compared to some remittance company. This will be a downside if you are to send just a small amount of money, so it is not worth it. You also need to inquire on how long before the money can be transferred to the recipient cause other banks may take a long time to process the payment.
This will not do if the money you’ll be sending is to be used for emergencies and stuff. If you need to make a money transfer frequently, the best thing to do is to have the recipient open a bank account with the same bank in Spain, this will make the transfer quicker and cheaper.
Some banks that you can use include Caixa Bank, Bankia, Banco Santander, Banco Popular, or BBVA, while the International banks you can use include BNP Paribas Spain, HSBC, Citibank Spain, or Deutsche Bank in Spain.
Transfer money to Spain with a money transfer provider
Some people prefer sending money using money online transfers and apps. You just need the personal details of the recipient, including their account number and contact details.
Some money transfer companies have discounted rates some month of the year, or they also have some discounts they offer to their common customers or clients. Using a money transfer company to send your money to Spain is now made cheaper, and it is safer, so you won’t need to worry about your money not arriving at its supposed destination.
That would be true in previous years, where some money takes time before the recipient gets hold of the money. They will wait for months, and the sender needs to follow up a thousand times before the money remittance center will be able to complete the money transfer process.
You can get a quote from different money transfer companies online or with some apps that are also available. You can make use of these apps as well, so you’ll have plenty of options.
By having some extra choices, you are not just left with using banks to make a money transfer, although it is safe and it will take a bit of time, it is still up to your preference on the best way to use for your money transfer needs.