What's the cheapest way to send money from Spain to Panama?

The cheapest way to send money from Spain to Panama is through an online provider. Among the 11 available, [MoneyGram](https://go.monito.com/moneygram?lng=en) was most often the cheapest provider (in 53.4% of the searches on Monito.com in the past 3 months).

What are the best providers to send money from Spain to Panama?

Here are the providers that were the most often the cheapest in the comparisons of the past 30 days on Monito.com: [MoneyGram](https://go.monito.com/moneygram?lng=en) (cheapest in 53.4% of the searches) [Instarem](https://go.monito.com/instarem?lng=en) (cheapest in 24.8% of the searches) [Western Union](https://go.monito.com/western-union?lng=en) (cheapest in 12.0% of the searches)

How much does it cost to send money from Spain to Panama?

If you send money with the cheapest available provider, the total cost of a EUR-USD transfer was -0.2% of the transfer amount (including all fees and exchange rates) over the past month. In contrast, the cost of the most expensive option was 8.6%.

Is Western Union a good option for sending money from Spain to Panama?

Western Union is a popular provider, with the biggest agent location network. The average cost of online money transfers from Spain to Panama with Western Union* is 1.5% of the amount you send, whereas the cheapest online services have an average cost of -0.2%. [MoneyGram](https://go.monito.com/moneygram?lng=en) is the provider that is most often the cheapest for money transfers to a cash pick-up location in Panama. *Sending money from physical agent locations with Western Union is usually much more expensive than using their online service.

What's the cheapest provider to send money from Spain to a cash pick-up location in Panama?

Over the past 3 months, the provider that was most often the cheapest for cash pick-up transfers in Panama was [MoneyGram](https://go.monito.com/moneygram?lng=en), with an average cost of 0.2% of the amount you send (includes fees + exchange rate margin). The average total cost to send to a bank account rather than to a pick-up location during the same period was -0.1%. [Instarem](https://go.monito.com/instarem?lng=en) was the provider most often the cheapest for transfers to bank accounts in Panama.

What is the fastest option to send money from Spain to Panama

The provider that was most often the fastest provider in comparisons of the past 30 days was [MoneyGram](https://go.monito.com/moneygram?lng=en) (average fastest transfer time: In minutes)

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Top Providers For transfers from Spain to Panama

Based on 941 comparisons made by Monito users in the past 3 months.

Compare live results

Best for Transfers to a Bank Account

Cheapest
8.3

Cheapest

in 46% of all comparisons
Fastest

in 61% of all comparisons
Go to Instarem
Top rated
9.0

Top rated

in 100% of all comparisons
Go to Wise

Best of 8 providers. Compare all

Best for Transfers to Cash Pickup

Cheapest
8.5

Cheapest

in 67% of all comparisons
Fastest

in 67% of all comparisons
Go to MoneyGram
Top rated
8.4

Top rated

in 82% of all comparisons
Go to XE Money Transfer

Best of 3 providers. Compare all

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1 EUR = USD Mid-market exchange rate

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Compare 10 providers for a 1,000 EUR transfer from Spain to Panama

Results updated . 4 hours ago

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Compare 4 providers

Sorted by amount received

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Best deal
8.5
Our score
The score is based on our independent, in-depth evaluation based on over 50 data points.

Trust & Credibility

8.9
Service & Quality

7.7
Fees & Exchange Rates

8.2
Customer Satisfaction

9.1
Read the full review
Includes zero transfer fees and/or preferential exchange rate on your first transfer Details

Transfer time

Fee & rates

Recipient gets

In minutes

Pay by Credit card, Debit card

Recipient gets

Fee Free

Exchange rate 1.1285

1.05% better than mid‑market rate

1,129 USD

1,092 USD

You pay

1,000.00 EUR

Fee

0.00 EUR

1.25 EUR

Exchange rate

1.1285

1.0935

1 EUR = 1.1285 USD

1.05% better than mid‑market rate 1.1167

Recipient gets
1,129 USD

1,092 USD

Transferred to a bank account

Details Go to MoneyGram Go
8.3
Our score
The score is based on our independent, in-depth evaluation based on over 50 data points.

Trust & Credibility

8.9
Service & Quality

6.7
Fees & Exchange Rates

9.3
Customer Satisfaction

8.4
Read the full review
Includes preferential pricing for new users Details

Transfer time

Fee & rates

Recipient gets

In minutes

Pay by Debit card

Recipient gets

Fee Free

Exchange rate 1.1128

0.35% worse than mid‑market rate

1,113 USD

1,109 USD

You pay

1,000.00 EUR

Fee

0.00 EUR

Exchange rate

1.1128

1.1089

1 EUR = 1.1128 USD

0.35% worse than mid‑market rate 1.1167

Recipient gets
1,113 USD

1,109 USD

Transferred to a bank account

Details Go to Instarem Go
8.6
Our score
The score is based on our independent, in-depth evaluation based on over 50 data points.

Trust & Credibility

8.8
Service & Quality

8.3
Fees & Exchange Rates

8.2
Customer Satisfaction

9.3
Read the full review
Includes zero transfer fees on your first transfer with code MONITO Details

Transfer time

Fee & rates

Recipient gets

2 days

Pay by Bank transfer

Recipient gets

Fee Free

Exchange rate 1.0931

2.11% worse than mid‑market rate

1,093 USD

You pay

1,000.00 EUR

Fee

0.00 EUR

Exchange rate

1.0931

1 EUR = 1.0931 USD

2.11% worse than mid‑market rate 1.1167

Recipient gets
1,093 USD

Transferred to a bank account

In minutes

Pay by Debit card, Credit card

Recipient gets

Fee Free

Exchange rate 1.0866

2.7% worse than mid‑market rate

1,087 USD

You pay

1,000.00 EUR

Fee

0.00 EUR

Exchange rate

1.0866

1 EUR = 1.0866 USD

2.7% worse than mid‑market rate 1.1167

Recipient gets
1,087 USD

Transferred to a bank account

Details Go to TransferGo Go
8.4
Our score
The score is based on our independent, in-depth evaluation based on over 50 data points.

Trust & Credibility

10
Service & Quality

8.2
Fees & Exchange Rates

5.9
Customer Satisfaction

9.5
Read the full review
Popular with Monito users

Transfer time

Fee & rates

Recipient gets

1 to 3 days

Pay by Bank transfer, Debit card, Credit card

Recipient gets

Fee 35.82 EUR

Exchange rate 1.1158

0.08% worse than mid‑market rate

1,076 USD

Estimated

You pay

1,000.00 EUR

Fee

0.00 EUR

Exchange rate

1.1158

1 EUR = 1.1158 USD

0.08% worse than mid‑market rate 1.1167

Recipient gets
1,076 USD

Estimated

Transferred to a bank account

Details Go to XE Money Transfer Go

Best deal
8.5
Our score
The score is based on our independent, in-depth evaluation based on over 50 data points.

Trust & Credibility

8.9
Service & Quality

7.7
Fees & Exchange Rates

8.2
Customer Satisfaction

9.1
Read the full review
Includes zero transfer fees and/or preferential exchange rate on your first transfer Details

Send to Elektra

Transfer time

Fee & rates

Recipient gets

In minutes

Pay by Credit card, Debit card

Recipient gets

Fee Free

Exchange rate 1.1285

1.05% better than mid‑market rate

1,129 USD

1,092 USD

You pay

1,000.00 EUR

Fee

0.00 EUR

2.50 EUR

Exchange rate

1.1285

1.0949

1 EUR = 1.1285 USD

1.05% better than mid‑market rate 1.1167

Recipient gets
1,129 USD

1,092 USD

For cash pickup

Details Go to MoneyGram Go
8.6
Our score
The score is based on our independent, in-depth evaluation based on over 50 data points.

Trust & Credibility

9.0
Service & Quality

8.5
Fees & Exchange Rates

7.4
Customer Satisfaction

9.5
Read the full review
Includes zero transfer fees and/or preferential exchange rate on your first transfer Details

Transfer time

Fee & rates

Recipient gets

In minutes

Pay by Credit card

Recipient gets

Fee 5.99 EUR

Exchange rate 1.1127

0.36% worse than mid‑market rate

1,106 USD

1,091 USD

You pay

1,000.00 EUR

Fee

5.99 EUR

Exchange rate

1.1127

1.0974

1 EUR = 1.1127 USD

0.36% worse than mid‑market rate 1.1167

Recipient gets
1,106 USD

1,091 USD

For cash pickup

Details Go to Western Union Go
8.4
Our score
The score is based on our independent, in-depth evaluation based on over 50 data points.

Trust & Credibility

10
Service & Quality

8.2
Fees & Exchange Rates

5.9
Customer Satisfaction

9.5
Read the full review
Transfer time

Fee & rates

Recipient gets

1 to 3 days

Pay by Debit card, Credit card

Recipient gets

Fee 4.00 EUR

Exchange rate 1.1053

1.02% worse than mid‑market rate

1,101 USD

You pay

1,000.00 EUR

Fee

4.00 EUR

Exchange rate

1.1053

1 EUR = 1.1053 USD

1.02% worse than mid‑market rate 1.1167

Recipient gets
1,101 USD

For cash pickup

Details Go to XE Money Transfer Go

We source transfer fees, rates and other data from money transfer providers in different ways - in most cases in real time. We constantly monitor the quality of our comparison data, but we cannot guarantee its accuracy.

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With more than 7 million searches per year, Monito's real-time comparison engine is a world leader in comparing international money transfer services.
$80M+ in transfer fees saved

By choosing a transfer service found on Monito, the average user pays a total of just 0.59% in fees and exchange rates. Compared to the 4.6% paid at a bank or traditional cash transfer service, Monito users have saved around $80 million in total to date!
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For every service appearing on Monito, our experts build in-depth reviews using dozens of verifiable criteria to make clear, actionable recommendations to guide your decisions.
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Monito's Recommendations for Sending Money from Spain to Panama

Advertiser disclosure

Today's cheapest money transfer service might not be the cheapest tomorrow. Find the one that's best-suited to your needs and preference by comparing the best performers on Monito's comparison engine over the past 30 days for transfers from Spain to Panama:

Best Ways to Send Money from Spain to Panama

The best rated: Wise (9/10)
The cheapest: MoneyGram and Instarem
The fastest: MoneyGram
The best rated (transfer to cash pickup): XE Money Transfer (8.4/10)
The cheapest (transfer to a bank account): Instarem

Frequently Asked Questions

What's the cheapest way to send money from Spain to Panama?

The cheapest way to send money from Spain to Panama is through an online provider. Among the 11 available, MoneyGram was most often the cheapest provider (in 53.4% of the searches on Monito.com in the past 3 months).
What are the best providers to send money from Spain to Panama?
Here are the providers that were the most often the cheapest in the comparisons of the past 30 days on Monito.com:
- MoneyGram (cheapest in 53.4% of the searches)
- Instarem (cheapest in 24.8% of the searches)
- Western Union (cheapest in 12.0% of the searches)
How much does it cost to send money from Spain to Panama?

If you send money with the cheapest available provider, the total cost of a EUR-USD transfer was -0.2% of the transfer amount (including all fees and exchange rates) over the past month.
In contrast, the cost of the most expensive option was 8.6%.
Is Western Union a good option for sending money from Spain to Panama?

Western Union is a popular provider, with the biggest agent location network. The average cost of online money transfers from Spain to Panama with Western Union* is 1.5% of the amount you send, whereas the cheapest online services have an average cost of -0.2%.

MoneyGram is the provider that is most often the cheapest for money transfers to a cash pick-up location in Panama.

*Sending money from physical agent locations with Western Union is usually much more expensive than using their online service.
What's the cheapest provider to send money from Spain to a cash pick-up location in Panama?

Over the past 3 months, the provider that was most often the cheapest for cash pick-up transfers in Panama was MoneyGram, with an average cost of 0.2% of the amount you send (includes fees + exchange rate margin).

The average total cost to send to a bank account rather than to a pick-up location during the same period was -0.1%. Instarem was the provider most often the cheapest for transfers to bank accounts in Panama.
What is the fastest option to send money from Spain to Panama

The provider that was most often the fastest provider in comparisons of the past 30 days was MoneyGram (average fastest transfer time: In minutes)

About Money Transfers from Spain to Panama

Monito compares 11 providers offering international money transfer services from Spain to Panama. The total cost of the cheapest available option at any given point in the past month was -0.2% of the transferred amount. In comparison, the total cost of the most expensive provider was on average 8.6%.

💸 Number of providers	11
🏆 Cheapest provider (on average)	MoneyGram
💰 Lowest total cost (on average)	-0.2%
💰 Highest total cost (on average)	8.6%
💸 Most transferred amount	1000 EUR
⚡ ️Fastest transfer time	In minutes
💳 Pay-in options	Bank transfer, Debit card, Credit card, International bank transfer
💵 Pay-out options	Mobile wallet, Bank account (via international transfer), Cash pickup, Bank account, Card
👍 Recommended providers	MoneyGram, Wise, Paysend, XE Money Transfer, Revolut, Instarem, OFX, TransferGo, Moneycorp, Currency Solutions

Best Rated Providers to Send Money from Spain to Panama

9.0

8.8

8.8

8.6

8.6

8.5

8.4

8.3

8.3

8.0

See Monito's In-Depth Money Transfer Guides

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Everyone wins, except expensive solutions

With our model, the only losers are the expensive banks or providers you’ll stop using!

To ensure our independence, we always use transparent, objective and verifiable criteria in our comparison. No provider can buy their way to the top of our results.

We include as many providers as possible in our comparison and have partnerships with almost all major and innovative providers.

We make sure you never pay more than if you went directly to the provider of your choice. We even negotiate special offers for you with many of our partners.

You save money on your transfer by selecting the cheapest provider.
The best providers earn new customers without expensive marketing, helping keep their costs (and prices) low.
Monito receives a referral fee from the provider you selected. This enables us to offer our service to you for free.

Questions you may have

How can I use Monito to find the best option to send money to Panama?

Before each international money transfer, you should come and compare the costs of the different options on Monito, as they may have changed. The cheapest option is at the top, of our results but you may want to consider other criteria such as the speed of transaction or the pay-in or pay-out methods.
I simply use my bank to send money to Panama, do I really need to compare other options?

Of course! Banks are usually not the best way to make international money transfers. The fees can be quite low (and sometimes even zero), but beware of the poor exchange rates which banks often apply. We list as many banks as possible in our results, so do compare to find out if you’d be better off switching to another bank or a specialized money transfer company.
Can I trust a company I found on Monito but never heard about before?

Yes. We only list money transfer operators or banks that are fully authorized and monitored by the regulation authorities of the countries where they operate.
Is it possible to send money with Monito, or are you just a service to compare money transfer services?

Monito is not a money transfer company. We’re here to help you find the best way to send money to Panama.

Mid-market exchange rate

To calculate the total cost of your transfer, we compare the exchange rate every provider applies to your transactions with the latest mid-market exchange rate data that we source from XE.

Why You Can Trust Us

You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, Monito co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services worldwide.

Today, Monito’s award-winning comparisons, reviews, and guides (no longer just about money transfers but also digital accounts, travel cards, eSIMs, and travel insurance) are trusted by millions each year. Our recommendations are backed by our comparison data and dozens of expert tests, allowing you to confidently make the savviest decisions.

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15+ million people across the globe trust Monito.
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Find the best ways to send money to Panama from Spain

Top Providers For transfers from Spain to Panama

Best for Transfers to a Bank Account

Best for Transfers to Cash Pickup

Stay on top of the market

Get our email alerts

Compare 10 providers for a 1,000 EUR transfer from Spain to Panama

Monito's Recommendations for Sending Money from Spain to Panama

Best Ways to Send Money from Spain to Panama

Frequently Asked Questions

About Money Transfers from Spain to Panama

Best Rated Providers to Send Money from Spain to Panama

See Monito's In-Depth Money Transfer Guides

Everyone wins, except expensive solutions

Questions you may have

Mid-market exchange rate

Why You Can Trust Us