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Transferring money from.uk

Posted: Mon Nov 13, 2017 1:49pm
12 replies350 views10 members subscribed
leighadamson

Posts: 33

6 helpful points

Location: Villamartin

Joined: 10 Nov 2017

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

Posted: Mon Nov 13, 2017 3:26pm

Posts: 15

4 helpful points

Location: Orihuela Costa

Joined: 20 Sep 2017

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

Posted: Mon Nov 13, 2017 4:25pm

jimtaylor

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Posts: 5612

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Location: Mudamiento

Joined: 2 Feb 2017

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

Posted: Mon Nov 13, 2017 4:37pm

anna66

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Posts: 137

56 helpful points

Joined: 2 Nov 2016

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

Posted: Mon Nov 13, 2017 11:12pm

Ada

Helpful member

Posts: 421

234 helpful points

Location: Rojales

Joined: 4 Nov 2016

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!

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Andyb1208

Posted: Tue Nov 14, 2017 10:37am

Andyb1208

Helpful member

Posts: 375

292 helpful points

Location: Playa Flamenca

Joined: 27 May 2016

Posted: Tue Nov 14, 2017 10:37am

leighadamson wrote on Mon Nov 13, 2017 1:49pm:

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

Posted: Tue Nov 14, 2017 1:13pm

Posts: 173

37 helpful points

Location: Santa Pola

Joined: 26 Dec 2016

Posted: Tue Nov 14, 2017 1:13pm

leighadamson wrote on Mon Nov 13, 2017 1:49pm:

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

Posted: Tue Nov 14, 2017 8:48pm

leighadamson

Original Poster

Posts: 33

6 helpful points

Location: Villamartin

Joined: 10 Nov 2017

Posted: Tue Nov 14, 2017 8:48pm

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

deirdre42c

Posted: Tue Nov 14, 2017 9:49pm

deirdre42c

Helpful member

Posts: 345

338 helpful points

Location: Villamartin

Joined: 1 Jul 2017

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!

Ada

Posted: Wed Nov 15, 2017 7:26am

Ada

Helpful member

Posts: 421

234 helpful points

Location: Rojales

Joined: 4 Nov 2016

Posted: Wed Nov 15, 2017 7:26am

Ciaxa do charge for anything over 25K in euros but if you have the correct account with Sabadell they do not and the amount is unlimited this is correct as of two weeks ago when we asked both banks.

Hope this helps but best to check personally with the bank then you know for certain and don't get a nasty supprise.

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