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Hi All
Need some guidance we have a property in Cabo Roig which we hope to sell and proceeds to go into Spanish bank pending finding a new property, I understand banks charge between 1 and 1.5 per cent of amount deposited as a fee, just for putting the sale proceeds in your account, any ideas if can be avoided. Cheers All.
Hmm, not heard that one before. They make a charge for transferring it or issuing a banker's draft but not heard about a charge for making a deposit in euros to your account.
Don't recall them making a charge when we sold our place in 2008 and bought another one.
marcliff wrote on Mon Oct 16, 2023 3:48pm:
Hmm, not heard that one before. They make a charge for transferring it or issuing a banker's draft but not heard about a charge for making a deposit in euros to your account.
Don't recall them making a charge when we sold our place in 2008 and bought another one.
Thanks
Posted: Mon Oct 16, 2023 5:02pm
Very helpful member
Hi,
I'm a resident here and have just deposited a bankers draft into my bank from the sale of the house inherited from my Dad. I wasnt charged for this as the draft was issued by the same bank that I have an account with, it also cleared in less than 24 hours. I think that if you deposit it into a bank different from the one that issued the draft you may be subject to some sort of charge.
I hope that this helps.
Posted: Mon Oct 16, 2023 5:34pm
Helpful member
I've only experienced purchasing property in Spain.
Wouldn't the purchaser of your property pay the monies to your solicitor and then your solicitor would transfer the money on to you. You might have to pay a transfer fee (fixed fee rather than % fee - like a telegraphic transfer fee in the UK) to enable them to pass the money to your account but so long as that account is also in Spain I don't see why there would be any fee.
Your bank should be able to advise if they do have fees for incoming transfers from other Spanish banks.
When we bought, I had to spend a few days transferring the monies to our solicitors client account to avoid paying a fee for a larger transfer. I was able to do that because there was a number of days available to me. I seem to recall I might have transferred 3x10000 Euros each day for a period of 6 or so days which incurred no fee for me and no fee for them.
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Madcatwoman wrote on Mon Oct 16, 2023 5:02pm:
Hi,
I'm a resident here and have just deposited a bankers draft into my bank from the sale of the house inherited from my Dad. I wasnt charged for this as the draft was issued by the same bank that I have an account with, it also cleared in less than 24 hours. I think that if you deposit it into a ba...
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...nk different from the one that issued the draft you may be subject to some sort of charge.
I hope that this helps.
Thanks
George55 wrote on Mon Oct 16, 2023 5:34pm:
I've only experienced purchasing property in Spain.
Wouldn't the purchaser of your property pay the monies to your solicitor and then your solicitor would transfer the money on to you. You might have to pay a transfer fee (fixed fee rather than % fee - like a telegraphic transfer fee in the UK) to enable them to pass the money to your account but ...
Read more...
...so long as that account is also in Spain I don't see why there would be any fee.
Your bank should be able to advise if they do have fees for incoming transfers from other Spanish banks.
When we bought, I had to spend a few days transferring the monies to our solicitors client account to avoid paying a fee for a larger transfer. I was able to do that because there was a number of days available to me. I seem to recall I might have transferred 3x10000 Euros each day for a period of 6 or so days which incurred no fee for me and no fee for them.
Cheers thank you
Posted: Mon Oct 16, 2023 8:09pm
Helpful member
When we sold the solicitor transferred the funds to our Wise account. No charges. We aleo used our Wise account when purchasing another property
Cheryl21 wrote on Mon Oct 16, 2023 8:09pm:
When we sold the solicitor transferred the funds to our Wise account. No charges. We aleo used our Wise account when purchasing another property
Ours used what was then Bancaja (now Caixa) and the same thing. No charges and we used a different solicitor for selling than the one we used for buying. Seamless.
marcliff wrote on Mon Oct 16, 2023 8:19pm:
Ours used what was then Bancaja (now Caixa) and the same thing. No charges and we used a different solicitor for selling than the one we used for buying. Seamless.
Thanks
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