Last reviewed: · Curated by Ohmyfin Organisation editorial.
Spain has a growing Indian diaspora — roughly 70,000 Indian nationals — primarily in Madrid, Barcelona and Valencia, working in IT, healthcare and hospitality. EUR wires from Spanish banks (Santander, BBVA, CaixaBank) route via TARGET2 to a correspondent, then via SWIFT to Indian banks (SBI, HDFC, ICICI, Axis), settling via RBI RTGS or NEFT. FEMA reporting by the Indian bank is mandatory. Spain's SEPBLAC applies AML monitoring. EUR–INR conversion is generally efficient. Spain also has a significant Latin American remittance network, giving Santander and BBVA strong international transfer infrastructure that benefits the Spain–India corridor. Track your UETR on Ohmyfin.
Settlement path: TARGET2 → RBI RTGS. Currency pair: EUR → INR.
The three most common causes of delay on this corridor are: (1) FEMA reporting by Indian receiving bank, (2) Banco de España / SEPBLAC AML controls on India-corridor transfers, and (3) EUR→INR FX conversion timing at the Indian correspondent.
If the payment has not arrived within 4 business days, ask your sending bank to file an MT199 payment enquiry citing the UETR and the holding bank's BIC shown on the Ohmyfin GPI tracker.
Most SWIFT transfers on the Spain–India corridor credit the beneficiary within 2 business days. In 95% of cases the payment arrives within 4 business days. The most common delay is fema reporting by indian receiving bank.
The three most common delay causes are: FEMA reporting by Indian receiving bank; Banco de España / SEPBLAC AML controls on India-corridor transfers; EUR→INR FX conversion timing at the Indian correspondent.
Track the UETR on Ohmyfin — the GPI status shows exactly which bank is holding the payment. If delayed beyond 4 business days, ask your sending bank to file an MT199 payment enquiry citing the UETR and the holding bank's BIC.
The dominant settlement path is TARGET2 → RBI RTGS. The currency pair is EUR → INR.
No card needed. Free for ordinary users — completely free for individuals — no daily limit, no card required. Track any international wire across 11,000+ banks.
Track a payment now — completely free Or try the tracker now →