Bank transfer to UK.

Hi Robnew,

Thank you, I will take a look,

Many thanks again.

With Transferwise you need to set up an account by registering with an email address and password. (I would suggest creating a new one-off password for Transferwise). When making your first transfer they will show the bank account number, sort code and a reference where you will send the money. They will also ask you for your recipient bank information. The app will save your bank details for future reference but you may wish to set Transferwise up as a saved Payee to make subsequent transactions quicker.

When the Euros are in your Spanish account, make a test transfer. Make sure you select the cheapest option from the initial Transferwise page where it gives 3 options (unless one of the more expensive options suits your needs better).

A Spanish bank should not charge for releasing your dosh to Transferwise but..... if it was me I'd do it in several smaller transactions (it wont cost more in fees at Transferwise).

I've never sent large amount from Spain so I cant speak from experience, maybe others can, except there is no hard and fast rule, each bank seems to make their own rules!

What I can say is Transferwise is entirely safe. I will admit it's a strange feeling the first time you send £100k or whatever off into cyberspace but the eagle lands every time!

You may be told that xyz company is cheaper "because they don't charge a commission" but the higher market rate offered by Transferwise means that usually they net more money into your account.

Steve

I've lived here 37 years and for the last at least ten years used Currency Fair. The system is extremely easy to use - you transfer your money in (full details ara given) and then choose when to exchange it and again separately transfer it to your English account. I believe Transferwise has less straight forward charges than Currency Fair who change €3 or £2.5 for each transfer out. Nothing for inward ones.

Have a look at this:

https://www.currencyfair.com/rafland/?channel=R8Z631

Hope that helps! A.P.

Thank you dinnerout, this information is so valuable, I appreciate your time.

I use Currencies Direct for paying bills only. It will be interesting to make a comparison. 

So grateful for the information, 

Thank you.

Ancient Printer thank you.

I will look into this also.

Will be interesting to see how they all compare.

Many thanks again,

kind regards.