How to transfer money from UK to Spain?

Set up a account with Wise or Currencies Direct, both use a eu iban, so no fees, I am not sure if you’re Spanish bank will charge for a large deposit, I myself had all deposits paid into my solicitors account and then they paid the seller direct on the day of purchase signing.

Thanks so much for your quick reply! I'd looked into Wise but wasn't sure how good it was. I used to use Revolut but since Brexit there are lots of restrictions re: how much money you can keep in there on any given day. Do you know if Wise has those sorts of limits? Or if there is a maximum number of transfers you can make per month etc?

Hi

We've recently bought in Spain. After 2 years research Wise is the way to transfer monies from UK to Spain and vice versa. Bankinter do not charge a fee (i transferred 2000 quid just today). Low fees, great conversion rates and ful transparency, you wont find a better service.

cheers

Nick

As said, I never had any problems with either company transferring large, small amounts when I wanted, perhaps have a read on their websites, also as Nick posted, I have never had any bank charges from Bankinter, so if you’re with another Spanish bank check them out re Fees. 

I also recommend Wise, I used them myself when I was in your shoes buying my Spanish house three and a half years ago.

A few things to bear in mind. Even though Wise is very competitive, if you are moving sums large enough to buy a house, the fx commission charge will be several hundred pounds. You can check this in advance just by feeding the figures in to the calculator on their website.

Also, make sure your UK bank knows in advance what you plan to do. There may be hoops to go through with them if you want to pay out a large sum of money to Wise in one go.

And finally, check if your Spanish bank has any fees or limits when it comes to receiving a large transaction in one go. My bank Sabadell didn't, but not all banks have the same rules.

Good luck.

We use Currencies Direct.  Very quick and simple and money can be in your Spanish account in a couple of hours.  If you need to speak to them they all speak excellent English.

Wise are good - particularly for quick transfers. Their rates are also good.

For big amounts I use Place in the sun Currency. They have the best rates I could find.

Wise is the best account, we transfer money monthly when the £ to € is at its highest. We used to use a bank to bank direct debit but loose about €30 to €40 a month on their conversation. 

If your buying a house I would look into it more as they are really hot on tax and money laundering

Use transferwise now Wise it’s free and you will not get a better rate by any other.