Sending money to Spain from Russia and the CIS: what to consider

How money reaches Spain: SEPA and international transfers

The type of transfer determines the timescale and the charges. The SEPA area includes the 27 EU states, Iceland, Liechtenstein and Norway, as well as a number of countries and territories outside the EEA. Check whether your country is included in the SEPA list on the Bank of Spain website [1]. CIS countries are not part of the EU or the EEA.

If the transfer is sent with the recipient’s IBAN and the bank’s BIC (SWIFT), it is processed automatically (STP): this is faster and cheaper [2]. If a correspondent bank is involved, the sender’s bank must warn the customer that it may take its own charges [2].

Charges: SHA, OUR and BEN

The bank may charge a fee for the transfer. Most often it is a percentage of the amount with a minimum per transaction, and for instant transfers a fixed amount [4]. Charges may be borne by the sender (OUR), the recipient (BEN) or both (SHA). For transfers within the SEPA area, the rules require SHA [3][4]. If the sender and recipient are in different EU states, the charges must be the same as for domestic payments [2].

So before sending, it is worth asking the sender’s bank three things: which type of transfer will be used, who pays the charges (and whether a correspondent bank fee is possible), and when the money will arrive. To see what specific Spanish banks charge, check the Bank of Spain website: fees and charges at Spanish banks. General concepts: what IBAN and SEPA are. If you need the money to buy a home with a loan, see mortgages for non-residents.

Why a Spanish bank asks about the source of funds

Under Ley 10/2010, banks and other sujetos obligados (obliged entities) must identify the customer using reliable documents before the relationship starts (Article 3), find out the purpose and nature of the business relationship and verify information about the customer’s activity (Article 5), and monitor transactions throughout the relationship, including the origen de los fondos, the origin of the funds (Article 6) [5][6]. If the checks cannot be carried out, the bank does not open the relationship or carry out the transaction, and if they become impossible during the relationship, it ends it (Article 7) [5].

The Bank of Spain explains that the law does not name specific documents, so the bank may ask for any document showing the origin of the funds and the nature of your activity. The Bank of Spain gives a tax return as an example. The requirements also apply to existing customers. If you do not provide the documents, the bank may block the account, but the Bank of Spain takes the view that it must first warn the customer and explain the reasons [6].

In practice, documents usually prove a specific source: the sale of property, income, an inheritance, a gift. These are examples, not an official list. Agree the set of documents with the bank before sending a large amount.

Whether the bank can delay or block a transfer

Yes. The Bank of Spain describes a case where a transfer has been executed and debited from the sender, but the recipient cannot see it. The bank may freeze the funds until it has checked the identity of the parties and received documents showing the link between the money and the customer’s activity. The bank itself tells you which documents it needs [7]. What to do: ask the bank in writing for the list of documents and the time the check will take.

Cash: declaration from €10,000

The law requires a prior declaration when cash and equivalent means of payment (bearer cheques, prepaid cards not linked to an account) of €10,000 or more, or the equivalent in another currency, are brought into or taken out of Spain. For movements within the country the threshold is €100,000 [5]. The declaration must be complete and accurate; incomplete information counts as failing to declare [5]. The procedure: how much cash you can bring into Spain.

EU sanctions: what is known from official sources

EU measures related to Russia’s war against Ukraine include disconnecting certain Russian banks from SWIFT, a ban on a number of financial transactions and a ban on accepting deposits [9]. These measures are binding in Spain (Article 42 Ley 10/2010) [5]. The list of banks and transactions changes with each sanctions package, so check the official pages of the European Commission and the Council of the EU as of the date you send the money.

The Commission separately clarifies several points that matter for private individuals. Accepting deposits from Russian nationals, natural persons residing in Russia and Russian legal entities is prohibited if the total value of deposits per bank exceeds €100,000. Exception: nationals of EU and EEA states and Switzerland, and persons holding a temporary or permanent residence permit in those countries. Separately, in a clarification of 13 March 2026 on the ban on certain payment and e-money services (Article 5b(2)), the Commission states that holders of a long-stay type D visa who have completed registration at their place of residence are, as a rule, considered to be legally resident and fall under the exception in Article 5b(3) [8].

The clarifications we found do not say directly how this applies to deposits: the deposit exception is stated for nationals of the EU, the EEA and Switzerland and for persons with a residence permit, so check your own case with the bank. The Commission also states that if you are not on the lists and your payments are not for prohibited trade, the bank has no grounds to restrict your account because of Russian nationality [8]. The consolidated clarifications were updated on 30 September 2026 and apply by analogy to Regulation 765/2006 (Belarus) [8].

The law prohibits knowingly taking part in activities whose purpose or effect is to circumvent the prohibitions. We do not discuss or recommend ways of getting around them. If your case is in a risk area, you need a sanctions lawyer.

Common problems with transfers to Spain

• The transfer does not arrive or is delayed because of a check: the bank may freeze the amount until it receives documents [7].
• Wrong IBAN or BIC: automatic processing only works with correct details; otherwise expect manual handling [2].
• You received less than was sent: the charges may have fallen on the recipient or an intermediary (BEN, correspondent fees) [2][3].
• A large amount without documents: the bank does not have to carry out the transaction if it cannot apply its due diligence measures [5].
• A balance above €100,000 held by a Russian national without a residence permit in the EU, the EEA or Switzerland: accepting new credits may be prohibited [8].
• Bringing in cash without a declaration: for amounts of €10,000 or more a declaration is mandatory [5].

When you need an individual review

A calm sequence for a large transfer looks like this.

1. Ask your Spanish bank in advance which documents it wants to see on the origin of the funds. The law does not list them, so the bank decides the set [6].
2. Ask the sender’s bank about the type of transfer, who pays the charges (SHA, OUR or BEN), and any possible correspondent bank fee [2][3].
3. Check the recipient’s IBAN and the bank’s BIC: with correct details the transfer is processed automatically [2].
4. If the money arrives late, ask the bank in writing for the list of documents and the time the check will take [7].
5. To prove your funds for a residence permit, check the requirements of the ground you have chosen: do you need a Spanish account for a residence permit, no lucrativa route card.

An individual review is needed for large amounts, when your status changes (visa, residence permit, tax residence), for mixed sources, for property transactions and for any question related to sanctions. The tax consequences of receiving money depend on residence: taxes for residents and non-residents, modelo 720.

How we can help

We do not select or recommend banks and payment services. The ReloVictory team in Barcelona helps with related matters: it explains which proof of income and funds is needed for immigration procedures, and collects and checks those documents together with you. Questions about sanctions and specific transactions are decided by your bank and a sanctions lawyer. First consultation: 15 minutes free; full consultation: €121 for 45 minutes. Book: consultation.

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ReloVictory · Sources reviewed 02.10.2026 · Not a substitute for individual legal advice.