Send Money to Spain with Peanut — Coming Soon
Peanut is expanding to Spain. Soon you'll send money and have recipients spend locally via Bizum — no fees, no Spanish DNI needed.
Send Money to Spain with Peanut — Coming Soon
Peanut is expanding to Spain. Soon you will be able to send money to anyone in Spain and have them spend locally using Bizum, Spain's near-universal mobile payment system. The recipient will not need a Spanish DNI or a local bank account to receive and spend money. Just a passport and the Peanut app.
Spain is already part of the Peanut network for deposits and withdrawals via SEPA. The next step is local spending. Bizum is deeply integrated into virtually every Spanish banking app, with over 25 million users. "Te hago un Bizum" has become an everyday expression in Spain — it is how people split dinners, pay rent, and settle up. Peanut will plug into that same system, giving your recipient immediate access to the way Spaniards actually move money.
Why Peanut Will Be the Best Way to Send Money to Spain
No Fees
Peanut charges nothing on deposits, transfers, or spending. Whether you fund your account via SEPA from a European bank, ACH from a US bank, or digital dollars from an exchange, the deposit is free. Sending to the recipient is free. Spending in Spain via Bizum will be free. Compare that to the alternatives:
- Wise: 0.4-1.5% in additional charges on every transfer
- PayPal: 3-4% cross-border fee, plus an unfavorable exchange rate markup
- Western Union: $5-$15+ flat fee per transfer, plus a rate markup built into the rate
For EUR-to-EUR transfers within SEPA, some of these fees may be lower, but they still add up over time — especially for non-EUR senders.
Better Exchange Rate
For senders outside the eurozone, the exchange rate matters. Peanut's model converts digital dollars directly to the local currency at the market rate, without the markups that traditional providers embed. While Spain uses EUR and the rate mechanism for EUR-denominated spending is being finalized, the goal is the same: your recipient gets the most value per dollar, pound, or other source currency.
For senders within the eurozone, Peanut eliminates fees entirely — there is no currency conversion step, so your recipient receives exactly what you send.
Instant Local Spending
Once Peanut launches spending in Spain, recipients will be able to pay and receive money instantly using Bizum. Instead of waiting for a traditional bank transfer to process, the recipient uses Bizum directly from the Peanut app. Bizum supports:
- P2P payments — send money to anyone using their phone number
- Merchant payments — pay at checkout (in-store and online) through participating retailers
- Group payments — split bills and settle up with friends
Bizum settles instantly between bank accounts. No intermediate wallet, no delays.
No Local ID Required
Info
Bizum normally requires a Spanish bank account at a participating institution. For foreigners without residency, getting that bank account means navigating the Spanish DNI system or NIE (foreigner identification number). Peanut will bypass that requirement entirely. Recipients verify with any passport or national ID card — no Spanish DNI, no NIE, no local bank account needed.
How It Will Work
- 1
Sign up and verify your identity
Create a Peanut account and complete identity verification. Submit a photo of your passport or national ID card plus a selfie — the process takes under 2 minutes for most users. No Spanish DNI or NIE required.
- 2
Deposit funds
Fund your account using the method that fits your location. European users deposit via SEPA bank transfer (free, 90% under 20 minutes). US users deposit via ACH (free, 1-3 business days) or digital dollars. Anyone can send USDC, USDT, or DAI on Solana, Arbitrum, Base, Tron, Avalanche, Polygon, or Ethereum — all deposits are free and arrive in minutes.
- 3
Send to the recipient
The recipient creates their own Peanut account and verifies with a passport or national ID card. Send them money directly — Peanut-to-Peanut transfers arrive instantly. If you are the one traveling to Spain, skip this step and spend directly from your own account.
- 4
Recipient spends locally via Bizum
The recipient opens the Peanut app and uses Bizum to send payments to anyone by phone number, pay at participating merchants, or split bills with friends. Funds settle instantly.
What the Recipient Will Be Able to Do
Bizum Payments
Bizum is Spain's leading mobile payment system, operated by a consortium of Spanish banks and integrated into 95% of Spanish banking apps. When Peanut integrates with Bizum, recipients will be able to:
- Send money to anyone in Spain using their phone number — the recipient does not even need to accept the payment; it arrives in their bank account instantly
- Pay at participating merchants — both in physical stores and online. Bizum's merchant network is growing, with major Spanish retailers and online shops accepting it
- Split bills — Bizum's group payment feature is one of its most popular uses in Spain, making it easy to divide restaurant bills, rent, and shared expenses
Bizum's strength is its deep integration. Users do not need to download a separate app or create a new account — it works through the banking app they already have. Over 25 million people in Spain use Bizum regularly, making it the de facto standard for person-to-person payments.
Bank Withdrawal
Recipients will also be able to withdraw their Peanut balance to a local Spanish bank account via SEPA transfer. This is useful for rent, bills, and other expenses that require a direct bank transfer. SEPA withdrawals are free and 90% arrive in under 20 minutes.
Digital Dollar Withdrawal
Recipients who prefer to hold digital dollars can withdraw USDC, USDT, or DAI to any external wallet on supported networks. This is available today — even before the Spain spending integration launches.
Spain as a Gateway
Spain sits at the crossroads of Europe and Latin America. It has the strongest cultural and linguistic connection to Argentina of any European country, and it is a major gateway for Latin American immigrants entering the EU. This makes Spain uniquely positioned in the Peanut network:
- Spain to Argentina: One of the strongest European travel corridors. Argentine Spanish is mutually intelligible with peninsular Spanish. Tourists and digital nomads move frequently between the two countries. When spending in Argentina is already live through Mercado Pago, and spending in Spain launches via Bizum, the bidirectional corridor will be fully covered.
- Spain to Brazil: Spanish tourists visit Brazil for beaches, cities, and cultural events. When both corridors are live, users can move money seamlessly between Spain and Brazil.
Deposit and Withdrawal — Available Today
While spending in Spain via Bizum is coming soon, deposit and withdrawal functionality is already live. Users in Spain can:
- Deposit via SEPA bank transfer (free, 90% under 20 minutes) or digital dollars on any supported network
- Withdraw via SEPA to any Spanish bank account, or to an external wallet
- Send and receive between Peanut accounts instantly
Spain is already in the SEPA zone, so SEPA deposits and withdrawals work today. Create your account, fund it via your Spanish bank, and be ready to spend the moment Bizum integration goes live.
