Join the Los Dolses forum

Join the Los Dolses forumMy name's Jan and this is my website all about Los Dolses in Spain. Register now for free to talk about Banking and finances in Los Dolses and much more!

Transferring money from.uk

Whatsapp

Posted: Mon Nov 13, 2017 1:49pm
13 replies275 views10 members subscribed
  • Page 1 of 2:
  • 1
  • 2
leighadamson

Posts: 10

Location: Los Dolses

4 helpful posts

Just bought a place at weekend and got bank charges in UK for transferring deposit to solicitor in Spain. Going to get charged a lot more for rest of house payment. Anyone know best way to transfer to avoid these hideous charges? Many thanks 

Shonajane

Mon Nov 13, 2017 3:26pm

Posts: 9

Location: Orihuela Costa

3 helpful posts

Posted: Mon Nov 13, 2017 3:26pm

We were recommended currencies.co.uk

They were very good and we have used them since. No fees and decent exchange rates. The chap we dealt with is called Daniel Cartwright if I remember correctly! 

jimtaylor

jimtaylor

Forum Ambassador for Almoradi

Mon Nov 13, 2017 4:25pm

Posts: 705

Location: Almoradí

696 helpful posts

Posted: Mon Nov 13, 2017 4:25pm

I used to use Moneycorp, but for some time now I've used Transferwise. I did a transfer here a few days ago, and it was in my Spanish bank in four hours.

If you're transferring enough to buy a property, check with your UK and Spanish banks, as there may be a limit to the amount you can transfer without incurring tax or bank charges. 

anna66

Mon Nov 13, 2017 4:37pm

Posts: 77

20 helpful posts

Posted: Mon Nov 13, 2017 4:37pm

Moneycorp or transferwise, both good and cheap compared to your bank although if you're with Lloyds the transfer charge is a fixed £9,50 irrespective of the amount but be aware that if you transfer 50,000 euro or more the recieving bank will charge you a fee so if transdering a larger sum better to do a couple of tranfers.

Anna

Ada

Ada

Mon Nov 13, 2017 11:12pm

Posts: 191

Location: Torrevieja

59 helpful posts

Posted: Mon Nov 13, 2017 11:12pm

Personally Transferwise  offered the best recently but check with the recieving bank as some banks charge for over 25K euros  Sabadell seem to be ok but check or it could cost you a lot!

Kimmy11

Tue Nov 14, 2017 10:02am

Posts: 124

121 helpful posts

Posted: Tue Nov 14, 2017 10:02am

I used TransferWise www.transferwise.com for moving the 3% and 10% deposits, and lawyers fees over to Spain, but for the balance of the house purchase, £200k, I used MoneyCorp, but only because the currency markets were volatile at the at the time and I wanted to buy a Forward Contract.  The money came into my Sabadell Key Account at no charge.  They did, however, charge Eu 100 for the Banker's Draft that we had to take to the Notary on Completion day, although I understand this is standard with all Spanish banks.

Please beware of any bank or exchange offering "No Fee" or "Fee Free" exchanges, these companies usually give you much worse exchange rates and can lose you a lot of money on your transfers.

Kind regards,

Kimmy

Andyb1208

Tue Nov 14, 2017 10:37am

Posts: 55

Location: Playa Flamenca

11 helpful posts

Posted: Tue Nov 14, 2017 10:37am

leighadamson wrote:

Just bought a place at weekend and got bank charges in UK for transferring deposit to solicitor in Spain. Going to get charged a lot more for rest of house payment. Anyone know best way to transfer to avoid these hideous charges? Many thanks 

Hi there,

We use Moneycorp, which works for us.

Best regards

Andyb1208

Dixiedean66

Tue Nov 14, 2017 1:13pm

Posts: 10

Location: Catral

2 helpful posts

Posted: Tue Nov 14, 2017 1:13pm

leighadamson wrote:

Just bought a place at weekend and got bank charges in UK for transferring deposit to solicitor in Spain. Going to get charged a lot more for rest of house payment. Anyone know best way to transfer to avoid these hideous charges? Many thanks 

Hi join currencies direct you have an account with them they do the rest no charges 

leighadamson

leighadamson

Original Poster

Tue Nov 14, 2017 8:48pm

Posts: 10

Location: Los Dolses

4 helpful posts

Posted: Tue Nov 14, 2017 8:48pm

Thanks for all the input we have few suggestion to check out cheers 

deirdre42c

Tue Nov 14, 2017 9:49pm

Posts: 12

Location: Villamartin

6 helpful posts

Posted: Tue Nov 14, 2017 9:49pm

You should not be charged for transferring the funds to Spain from Uk - there is an EU agreement that as long as the funds are sent in Euro currency charges would not be applied (you need to specifiy that it is sent in Euro before you do the transfer). I know Sabadell charge for receiving in excess of 50,000 but I got round that by sending in a few tranches

Hope this helps!

  • Page 1 of 2:
  • 1
  • 2

Sign up for free or login to reply to this topic

Want to reply to this topic? Login or register for free to post your message:

Other recommended topics

Register for free!

Login to your account

Harmony FM
Crystal Cleaners
Advertise your business here