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
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!
Posted: Mon Nov 13, 2017 4:25pm
Legendary helpful member
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.
Posted: Mon Nov 13, 2017 4:37pm
Helpful member
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
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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Posted: Tue Nov 14, 2017 10:37am
Helpful member
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
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
Posted: Tue Nov 14, 2017 8:48pm
Thanks for all the input we have few suggestion to check out cheers
Posted: Tue Nov 14, 2017 9:49pm
Helpful member
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!
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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