How do we transfer monies from England to Spain without it costing too much?

There are quite a few money transfer companies that don't cost anything, we use HIFX and have never had an issue.

Hi. We use TransferWise - good exchange rate and money transfers arrive really quickly. 

Bank to Bank is the safest and secure way. It may be cheaper using a money transfer company but there can be risks.

https://news.sky.com/story/police-investigate-after-britons-lose-holiday-home-cash-in-10m-company-collapse-11492763

I am a UK Nat West account holder, and see there is such a thing called "NatWest International", does anybody know anything about this and if it can service me living in both countries?

Mind you, I just had a look and found the following, not sure if it applies to all their International products? :- "To apply for International Personal Banking all we ask is that either:

• a minimum balance of £25,000 is maintained at all times or;
• a minimum salary of £75,000 is paid into the account.

https://www.natwestinternational.com/personal/products/international-customers.html

totally agree with Bex transferwise are easy to deal with no faffing about and at a reasonable cost

Hi Ellie hope you are well.

If a money transfer company goes bust there is no compensation scheme, you lose your doe. Bank to bank accounts have government backed compensation schemes.

International bank accounts are usually ‘’off shore accounts’’ and I do not see what benefit they offer nowadays other than interest paid gross. At the moment bank interest is a pittance. In the old days they were considered secret bank accounts for tax dodgers, but when Elizabeth Windsor was force to pay tax she stopped all that, hence Lester Piggott and Ken Dodd.

Have a good day and best of luck.

I would highly recommend Transferwise. We have used them many times to transfer money from our UK bank account. They do not charge exorbitant fees and depending on when you request the transfer,the money can be in your account within seconds...honestly my last transfer took 8 seconds.

Hi Ellie,

I've been using Transferwise for years - consistently offering the best exchange rates, great transparency on their website, so you know exactly what rate you're getting and what will arrive in your Spanish bank account.  You don't need to open an account to play with their online calculator:

www.transferwise.com

Beware of any exchange company offering "no fee" exchanges - these companies hide their fees in much worse exchange rates.

Kind regards, 

Kim

Hello All

Thank you all so very much you have been extremely helpful with an issue that is so important to us all. Getting advice from all of you has been a great help. We are so looking forward to getting there

Very kind regards

Ellie