Money Exchange

What Money Exchange does

Money Exchange S.A. is a Madrid-headquartered, Banco de España-licensed payment institution (License No. 6812) founded in 1995 that specializes in international money remittances, foreign currency exchange, and ancillary financial services including mobile top-ups, prepaid cards, and gift cards. The company serves primarily the immigrant population in Spain sending funds to family members in 180+ countries across Latin America, Africa, Asia, and Europe, with secondary demand from travelers needing physical currency exchange. Its technology stack comprises a web platform (mte.moneyexchange.es), iOS and Android mobile applications with biometric authentication and real-time transfer tracking, SSL-encrypted payment processing certified by Redsys, and integrations with Spanish bank transfer rails, Bizum, and destination-country instant payment systems such as Brazil's PIX.

The company operates a hybrid distribution model combining 30+ company-owned physical offices across major Spanish cities (Madrid, Barcelona, Valencia, Sevilla, Málaga, Bilbao, Murcia, and others) with 50+ authorized agents, a multi-channel digital platform, and a correspondent network spanning 80,000+ payout points worldwide. Money Exchange generates revenue primarily through transaction fees and exchange-rate margins on cross-border remittances, bid-ask spreads on currency exchange (with a 48-hour online rate-reservation feature), and commissions on ancillary services. Internationally, the company has established wholly-owned operating subsidiaries in Italy (Money Exchange Italia), Germany (Money Exchange Deutschland), and Switzerland (Memoney).

Money Exchange is privately held as a Sociedad Anónima with no disclosed external funding, and is regulated by Banco de España under Payment Institution License No. 6812. It adapted to PSD2 in 2018, maintains full GDPR and AML compliance frameworks, and has an Audit Committee embedded in the Board of Directors. The company employs 101–250 people and emphasizes transparent pricing, with an online calculator showing transfer costs and recipient amounts prior to confirmation.

Name

Money Exchange

Legal name

MONEY EXCHANGE, S.A.

Website

https://moneyexchange.es

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

101–250 employees

Short description

Money Exchange S.A. is a Banco de España-licensed payment institution headquartered in Madrid that provides international money remittance and currency exchange services, primarily serving immigrant workers in Spain sending funds to family members in 180+ countries.

Ownership category

akta.pro rank

Product category

Remittance and Currency Exchange Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border Card-Based Transfers & Multi-Currency Cards (FSAGAKAE)

akta.pro secondary industries

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Cross-Border FX, Multi-Currency & Treasury for Payments (FSAGABAK), Cross-Border & FX Payments Platforms (BPAMAFAK)

Keywords

• International money transfers
• Currency exchange services
• Remittance payments
• Foreign exchange bureau
• Payment institution services

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices23 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. International Money Transfers: Fee-based international remittance services allowing customers to send money to over 180 countries. Revenue generated through transaction fees and exchange rate margins applied to currency conversions.
2. Currency Exchange: Buying and selling of foreign currencies at company-owned offices across Spain. Revenue generated through bid-ask spreads on exchange rates. No commissions charged per company claims.
3. Additional Services: Revenue from mobile top-ups, prepaid cards (paysafecard, M2P, Cyberfonica, Spark, Cashlib), gift cards, entertainment digital products (PlayStation, Xbox, Steam, Nintendo, Netflix, Spotify, Amazon), and ATM access fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

Money Exchange S.A. is a Bank of Spain-licensed payment institution that provides international money transfer services to 180+ countries through a global correspondent network, foreign currency exchange with no commissions at 30+ owned offices across Spain, and complementary services including international mobile top-ups, prepaid cards, gift cards, and digital products. The company operates a hybrid physical-and-digital model accessible via company offices, a web platform, and a mobile application.

Product overview

Money Exchange operates as a unified payments platform combining a licensed payment institution (Bank of Spain License No. 6812) with a physical branch network. The core offering comprises international money transfers (with delivery via cash pickup, bank deposit, and mobile wallet across America, Europe, Asia, and Africa), currency exchange (with online reservation and in-office conversion across 30+ currencies), and a mobile application for account management and transfer tracking. These are supported by over 53 physical offices across Spain offering in-person services and complementary offerings including mobile top-ups, prepaid cards, and gift cards. The platform is accessible through the web application, mobile app (iOS/Android), and branch network.

Differentiator

Problem solved

Functional benefit

Products and services

• International Money Transfers International money remittance service enabling customers to send funds to destinations in America, Europe, Asia, and Africa through a network of correspondent partners, with delivery options including cash pickup, bank deposit, and mobile wallet. Targeted at individual consumers, primarily immigrants in Spain sending money to family abroad.
• Currency Exchange Foreign currency exchange service available at more than 30 offices across Spain with no commissions on currency conversions. Supports online reservation that locks exchange rates for 48 hours. Targeted at travelers and consumers needing foreign currency.
• Money Exchange Mobile Application Mobile application for iOS and Android enabling money transfers, exchange rate consultation, transfer tracking, currency reservation, and biometric authentication. Supports recurring transfers and real-time transaction monitoring for individual consumers.
• Branch Network Services Over 53 physical offices across Spain providing in-person money transfer, currency exchange, international mobile top-ups, prepaid cards, digital products, gift cards, and ATM access. Open seven days a week with extended hours in most locations.
• Additional Services Complementary services including international mobile top-ups, prepaid cards (paysafecard, M2P, Cyberfonica, Spark, Cashlib), digital products, gift cards for entertainment platforms (PlayStation, Xbox, Steam, Nintendo, Netflix, Spotify, Amazon), and ATM access in select offices.
• Payment Methods Platform Multi-channel payment platform supporting bank transfers, Bizum instant payments, and credit/debit card payments through Redsys certified payment gateway, integrated with multiple Spanish banks (Abanca, Banco Sabadell, BBVA, CaixaBank, Caja Rural, Ibercaja, Kutxabank, Laboral Kutxa).

Quantifiable outcome

• Over 80,000 payment points worldwide (9,232 America + 29,263 Europe + 27,890 Asia + 15,801 Africa)

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature5 records

Partnerships

29 partnerships are on record, tiered core and minor.

• ItalcambiocoreChannel Partner/ Reseller/ DistributorStrategic partner in Venezuela with 40 offices across the country for cash payout of remittances sent from Spain.
• More MTcoreChannel Partner/ Reseller/ DistributorPartner in Brazil for cash payout and bank deposit services, enabling money transfers to Brazilian recipients.
• BELMONEYcoreChannel Partner/ Reseller/ DistributorBrazil-based partner for money transfer services, working with More MT for comprehensive coverage in Brazil.
• Banco BolivarianocoreChannel Partner/ Reseller/ DistributorEcuadorian bank partner for bank deposit services, allowing transfers directly to beneficiary accounts.
• Banco PichinchacoreChannel Partner/ Reseller/ DistributorMajor Ecuadorian bank for direct account deposits of international remittances.
• Banco GuayaquilcoreChannel Partner/ Reseller/ DistributorEcuadorian bank partner for account deposit services.
• BancolombiacoreChannel Partner/ Reseller/ DistributorMajor Colombian bank for direct deposits and cash pickup services in Colombia.
• Polaris BankcoreChannel Partner/ Reseller/ DistributorNigerian bank partner for direct account deposits of remittances.
• Fidelity BankcoreChannel Partner/ Reseller/ DistributorNigerian bank partner for bank deposit services.
• GT BankcoreChannel Partner/ Reseller/ DistributorNigerian bank partner for account deposit services.
• Access BankcoreChannel Partner/ Reseller/ DistributorNigerian bank partner for direct deposits.
• Zenith BankcoreChannel Partner/ Reseller/ DistributorNigerian bank partner for account deposits.
• First BankcoreChannel Partner/ Reseller/ DistributorNigerian bank partner for direct deposits.
• United Bank of AfricacoreChannel Partner/ Reseller/ DistributorPan-African bank partner for deposits across Nigeria.
• Easy FinancialcoreChannel Partner/ Reseller/ DistributorGambian partner for cash payout services at offices across the country.
• Yonna ForexcoreChannel Partner/ Reseller/ DistributorGambian forex partner for cash payout and exchange services.
• BANDEC (Cuba)coreChannel Partner/ Reseller/ DistributorCuban bank for cash payout in BANDEC branches and deposit to accounts.
• BPA (Cuba)coreChannel Partner/ Reseller/ DistributorCuban bank for cash payout and account deposits.
• BMP (Cuba)coreChannel Partner/ Reseller/ DistributorCuban bank for cash payout in convertible pesos and USD.
• AIS (Cuba)coreChannel Partner/ Reseller/ DistributorAmerican International Service - card system for Cuba allowing AIS card payments for recipients.
• Damane CashminorChannel Partner/ Reseller/ DistributorMoney transfer partner serving multiple African countries including Morocco.
• DahabshiilminorChannel Partner/ Reseller/ DistributorAfrican money transfer operator specializing in payments to Somalia and neighboring countries.
• FincimexminorChannel Partner/ Reseller/ DistributorCuban financial services company for card and cash services.
• TerrapayminorChannel Partner/ Reseller/ DistributorGlobal mobile payments platform enabling cross-border mobile wallet transfers.
• Cash PlusminorChannel Partner/ Reseller/ DistributorMoney transfer services provider serving Caribbean and Latin American markets.
• Western UnionminorChannel Partner/ Reseller/ DistributorGlobal money transfer company referenced as partner for international remittances.
• Cibao ExpressminorChannel Partner/ Reseller/ DistributorDominican Republic money transfer partner for cash payouts.
• Wizall MoneyminorChannel Partner/ Reseller/ DistributorCuban fintech company for digital money transfers.
• Asia United BankminorChannel Partner/ Reseller/ DistributorPhilippines bank for cash and account deposit services.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Western Union: Global leader in cross-border money transfers and FX, serving consumers and agents in 200+ countries. Western Union is a broad incumbent peer: Money Exchange relies on it as a payout partner, but they compete head-to-head for Spanish remittance customers.
• MoneyGram: Major US-headquartered remittance operator with extensive agent network globally. Directly competes with Money Exchange in the Spain-origin remittance corridor, particularly for Latin American destinations.

Direct peers

• Ria Money Transfer (Euronet Worldwide): Global remittance brand owned by Euronet, with strong retail and digital presence in Spain and Europe. Directly comparable to Money Exchange in target customer (immigrant senders), corridors served, and cash-pickup delivery model.
• Small World Money Transfer: Spain-based remittance specialist serving immigrant communities with physical offices and digital channels. Closest direct competitor to Money Exchange in the Spanish market, with overlapping corridors to Latin America, Africa, and Asia.
• Dahabshiil: Somaliland-headquartered remittance operator with deep African payout network, particularly in the Horn of Africa. Listed as Money Exchange's partner for Somalia and neighboring corridors, making it both a peer and a network dependency.

Emerging players

• Remitly: US-based digital-first remittance company serving senders from Spain and other European countries to emerging-market destinations. Represents the digital-native competitive threat Money Exchange faces in its core customer segment.
• Wise (TransferWise): UK-headquartered cross-border payments platform offering multi-currency accounts and low-cost international transfers. Increasingly competing for the same Spanish customer base with a transparent, mid-market-rate pricing model.
• WorldRemit: Digital cross-border remittance provider with mobile-wallet and bank-deposit payout options. Comparable to Money Exchange in corridors and delivery methods, but operates without a Spanish retail office footprint.
• Revolut: UK-based digital bank with multi-currency accounts, international transfers, and FX services widely used in Spain. Increasingly substitutes for traditional remittance providers among younger immigrant senders.

Regional players

• Italcambio: Venezuelan FX and remittance specialist with 40 offices in Venezuela serving as Money Exchange's strategic payout partner. Operates as a complementary regional player in the Spain-Venezuela corridor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks2 records

Key highlights7 records

Customer concentration

• Xx.com/moneyspain
• Facebookfacebook.com/moneyexchange.es
• LinkedInlinkedin.com/company/moneyexchange
• Instagraminstagram.com/moneyexchangesa

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Money Exchange