Not all transfer providers work the same way. The cheapest option depends on your amount, how often you send, and what you're sending for.
Last updated: March 2026 · FXPathway independent analysis
FXPathway compares international transfer costs by looking at both visible fees and hidden FX margins.
If you're looking for the best money transfer service for GBP to EUR, the right option depends on your transfer size, how often you send money, and whether you need extra support. This page compares Wise, Revolut and TorFX across the most common UK to Spain transfer scenarios.
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Try the free transfer cost calculator →| Provider | Exchange rate | Typical fee | Best for | Minimum transfer |
|---|---|---|---|---|
| Wise | Mid-market rate | ~0.35–0.7% | One-off and regular transfers, transparent pricing | No minimum |
| Revolut | Mid-market rate (weekdays) | Free within plan limits; small markup at weekends | Regular smaller transfers, existing Revolut users | No minimum |
| TorFX | Competitive rate, negotiable on large amounts | No transfer fee; rate includes margin | Large transfers, property purchases, forward contracts | ~£1,000 |
| XE Money Transfer | Competitive — close to mid-market | Variable % fee shown upfront | Users who already use XE to check rates | No minimum |
Figures are illustrative. Rates and fees change regularly — always verify directly with each provider before transferring.
Wise is usually the strongest all-round option for general GBP to EUR transfers. It uses the mid-market exchange rate and charges a transparent fee shown before you confirm. There's no minimum transfer amount and it works well for amounts from a few hundred pounds up to tens of thousands.
Revolut is a close second if you already hold a Revolut account and are sending within your plan's monthly limits on a weekday. Outside those limits, or at weekends, a small markup applies.
Other widely used providers include XE Money Transfer, which is particularly well known for its rate-checking tools.
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See the exact fee and EUR amount for your transfer before you send.
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TorFX is designed for larger transfers — particularly property purchases, pension lump sums, and other high-value payments. Key advantages over app-based providers for large amounts include:
Wise is also a viable option for larger transfers — the pricing is transparent and limits have increased significantly. But for very large amounts (£50,000+) or where forward contracts are needed, TorFX is worth comparing directly.
🏦 Check TorFX for larger transfers
TorFX specialises in larger GBP → EUR transfers — particularly useful for property purchases and one-off large payments.
Check TorFX rates →This is an affiliate link. It does not affect our analysis.
💱 Regular payments to Spain? Check CurrenciesDirect
CurrenciesDirect specialises in regular overseas payments including pension and salary transfers.
Check CurrenciesDirect →Affiliate link. It does not affect our analysis.
If you're converting a regular GBP income — pension payments, salary, rental income — the main consideration is the ongoing cost of the exchange rate margin rather than a one-off fee.
Illustrative. Use the transfer cost calculator to estimate for your own amount.
| Your situation | Recommended starting point |
|---|---|
| One-off transfer under £50,000 | Wise |
| Regular monthly transfers (pension, salary) | Wise or TorFX Regular Payments |
| Property purchase or large one-off (£50k+) | TorFX (compare with Wise) |
| Small frequent transfers, existing Revolut user | Revolut (within plan limits, weekdays) |
| Need to lock in a rate in advance | TorFX (forward contracts) |
All three providers are significantly cheaper than a typical UK high street bank for GBP to EUR transfers. Banks commonly apply a 2–4% exchange rate margin — on a £10,000 transfer, that's £200–£400 lost to the rate before any visible fee. Wise, Revolut and TorFX all offer pricing closer to the mid-market rate.
Learn how bank exchange rate margins work →
Most UK banks are convenient, but they are often much more expensive for GBP to EUR transfers because they build a 2–4% margin into the exchange rate. On larger transfers, that hidden cost is often far more important than the visible transfer fee.
If you want to see the impact of a bank exchange-rate margin on your own amount, use the FXPathway transfer cost calculator.
It depends on your plan and timing. Wise charges a consistent transparent fee at the mid-market rate. Revolut can be cheaper within plan limits on weekdays, but applies a markup outside those limits and at weekends. For predictable pricing, Wise is usually easier to compare.
TorFX is a strong option for larger transfers to Spain — particularly property purchases — where a dedicated account manager and forward contract options add real value. For smaller amounts, Wise or Revolut are typically more convenient.
Wise and Revolut both use the mid-market rate as their base. TorFX's rate varies by amount and is negotiable on large transfers. The most useful comparison is always the final EUR amount received for the same GBP sent — not just the headline rate.
Wise, Revolut and TorFX are all regulated in the UK. Wise and Revolut are regulated by the FCA. TorFX is also FCA-authorised. Always verify current regulatory status directly with each provider before transferring large amounts.
TorFX review UK: is it worth using for large transfers? →
Wise review UK: fees, rates and how it works →
Wise vs Revolut for GBP → EUR in depth →
Revolut vs Wise specifically for Spain transfers →
Bank vs Wise transfer UK to Spain →
Transferring money to Spain for a property purchase →
How to transfer UK pension income to Spain →
How banks hide costs in the exchange rate →
GBP → EUR transfer cost calculator →
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