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Bank transfer

Posted: Mon Jul 13, 2020 10:03am
10 replies233 views6 members subscribed
Stevecasa

Posts: 11

Location: Gandia

Joined: 26 Feb 2020

Hi All

We are in the process o buying a property near Cullera , we are getting  to the stage where we will need to transfer funds from our UK bank to the solicitor who has control of our Spanish bank account , can anyone recommend a Safeway to transfer the monies .

Regards Steve. 

wrypop

Posted: Mon Jul 13, 2020 11:29am

wrypop

Helpful member

Posts: 143

145 helpful points

Location: La Romana

Joined: 12 Jan 2017

Posted: Mon Jul 13, 2020 11:29am

Look up Smart Currency   (Broker in London) get a quote. When transferring you carry out a domestic transfer to their UK Bank, they do the overseas bit. Easy to deal with they make an offer, send you a Contract, you decide. Best to get at least one more quote. i

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Peter3473

Posted: Mon Jul 13, 2020 12:29pm

Peter3473

Very helpful member

Posts: 989

903 helpful points

Location: Torrevieja

Joined: 21 Oct 2019

Posted: Mon Jul 13, 2020 12:29pm

We used currencies direct, no problems.

Herefordjack

Posted: Mon Jul 13, 2020 12:55pm

Herefordjack

Super helpful member

Posts: 884

1099 helpful points

Location: Pego

Joined: 18 Dec 2017

Posted: Mon Jul 13, 2020 12:55pm

Use internet service Transferwise, they are secure and their rates are transparent and highly competitive.

tebo53

Posted: Mon Jul 13, 2020 1:05pm

tebo53

Legendary helpful member

Posts: 4816

5013 helpful points

Location: Benidorm

Joined: 29 May 2018

Posted: Mon Jul 13, 2020 1:05pm

Herefordjack wrote on Mon Jul 13, 2020 12:55pm:

Use internet service Transferwise, they are secure and their rates are transparent and highly competitive.

I've used Transferwise for years and never a problem. Money transferred in minutes. 

Highly recommended. 

Steve 

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Stevecasa

Posted: Mon Jul 13, 2020 3:06pm

Stevecasa

Original Poster

Posts: 11

Location: Gandia

Joined: 26 Feb 2020

Posted: Mon Jul 13, 2020 3:06pm

Hi There

Thanks for the input , yes they are abogado / lawyers . TransferWise seem to be the preferred option .

Steve .

Kimmy11

Posted: Tue Jul 14, 2020 3:49pm

Kimmy11

Legendary helpful member

Posts: 6870

12563 helpful points

Joined: 8 Aug 2017

Posted: Tue Jul 14, 2020 3:49pm

Hi Steve,

I used MoneyCorp when we moved to Spain in 2016, because Transferwise didn't offer Forward Contracts (useful if currencies are volatile when you want to transfer), I used their online calculator to negotiate the best deal with several other companies, before deciding which to accept.

www.transferwise.com 

Kind regards, 

Kim

GailS

Posted: Mon Jul 20, 2020 2:59pm

Posts: 66

33 helpful points

Location: Oliva

Joined: 5 Apr 2019

Posted: Mon Jul 20, 2020 2:59pm

we use worldfirst, they have always been very good and we still use them to transfer over money. We did a forward purchase for most of the money when we bought our house. That allowed us to agree an exchange rate a few weeks before the final purchase. If you are happy with the rate you know exactly what you will be paying and so cannot get caught if the value of the pound drops. Of course the value may go up and you are still committed to the exchange rate you agreed at, but I know of people that have had had serious financial problems when the value of the pound dropped in the middle of their house buying process. 

bikerdodge

Posted: Sun Mar 7, 2021 10:26pm

Posts: 55

4 helpful points

Location: Gandia

Joined: 16 Nov 2020

Posted: Sun Mar 7, 2021 10:26pm

DON'T send funds to your solicitor. Send them to your bank. When you complete on your property the bank will issue a Bankers Draft which you will take to the Notary. He/She will hand the Document to the seller and the keys to you. This will all be done on the day you move in.

bikerdodge

Posted: Sun Mar 7, 2021 10:34pm

Posts: 55

4 helpful points

Location: Gandia

Joined: 16 Nov 2020

Posted: Sun Mar 7, 2021 10:34pm

Sorry, I meant to add. You can send money straight from your bank in the UK to your Bank in Spain, all you Need is the Banks IBAN number. Very Safe. 

Don't forget to bring proof of where to money came from or they will block the account (money laundering)

Good luck

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