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Hi,
We have sold our house and need to transfer euros from spanish bank account back to uk. Was thinking of using Wise.
I know we will lose a few thousand pounds
Any input would be appreciated.
Thanks
Posted: Thu May 26, 2022 8:51am
Super helpful member
ZENIA33 wrote on Wed May 25, 2022 3:41pm:
Hi,
We have sold our house and need to transfer euros from spanish bank account back to uk. Was thinking of using Wise.
Read more...
I know we will lose a few thousand pounds
Any input would be appreciated.
Thanks
Why will you lose a few thousand pounds?
Stevec61 wrote on Thu May 26, 2022 8:51am:
Why will you lose a few thousand pounds?
I know you lose transferring directly to the bank was hoping someone could confirm that you don't lose so much on the exchange rate of the day with Wise. I know the best thing is to wait until the rate is in our favour..
Posted: Thu May 26, 2022 11:07am
Super helpful member
Hi
If you register with Wise, you can get two accounts - one in GBP and the other in euros. Pay your house proceeds into the euro account and then convert to GBP. You can then choose to either spend your money directly from your Wise account, or transfer it to another bank. Wise support direct debits, and give you a debit card.
Btw - it would probably have been better to have your proceeds paid directly into a Wise account - I expect your Spanish bank will charge you for transferring it (is this the few thousand pounds you expect to lose?)
Cheers
Steve
Stevec2x wrote on Thu May 26, 2022 11:07am:
Hi
If you register with Wise, you can get two accounts - one in GBP and the other in euros. Pay your house proceeds into the euro account and then convert to GBP. You can then choose to either spend your money directly from your Wise account, or transfer it to another bank. Wise support direct debit...
Read more...
...s, and give you a debit card.
Btw - it would probably have been better to have your proceeds paid directly into a Wise account - I expect your Spanish bank will charge you for transferring it (is this the few thousand pounds you expect to lose?)
Cheers
Steve
thanks for your help, I'll take a look at wise.
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