How quickly do you need to do the transfer? I was in the same situation a few months ago and you have a couple of options, but they aren't fast. There are internet exchanges such as xe.com, but it requires you to set up an account in advance. The other option is to deposit a U.S. check into a european bank. Does the person to whom you are sending the money have a Spanish bank account? Check that option and see what the rate would be. I went to about 10 different banks until I found one with a reasonable rate that didn't charge commission (but the bank is not in Spain). Is there someone there who could run around and do research for you? The time and trouble saved us about 10k in the exchange.