How do we transfer monies from England to Spain without it costing too much? - Page 3

Thanks but I'll stick with Transferwise. I don't need a new bank.

Revolut and N26 offer free banking. They also offer a paid subscription which includes "extras". Both have websites   and you can run the numbers yourself.  The point of the answer was to inform the OP of what is available.  It's up to the OP, or anyone  else to establish what product,  including Transferwise, suits their personal circumstances.   The day to day advantages of both, (N26 and Revolut) for me is that the cards are linked to my smart phone by apps, which provide extra security and allow me to know exactly what I'm spending, and the widely accepted cards make this an easy transaction. What works for me may or may not work for others. The OP can do their own research and make up their own minds. Both of these companies are established a while. With all the information,  or links to the information,the OP can decide.

Transferwise very easy.

We use direct Debit, our Sabadell Spanish Bank arranged it, it doesn't cost anything and you can choose two dates for the transfer to move money. 

It may not appear to cost anything, but as I said in my first response, "no fee" providers hide their fees in less competitive exchange rates.

In these cases, the only way to make accurate comparisons with other providers is by checking the actual amount you receive into your Spanish bank account, as Steve (operationdinnerout) explained earlier.  Transferwise makes this very easy, because they have a calculator on their website which anyone can use - you don't even have to open an account to use it.  

I expect Ellie will want to check whether this level of transparency is offered by the other providers recommended by fellow members.

Of course, bank to bank exchange is a valid option, especially for people less comfortable with technology, but for anyone who uses online banking, then Transferwise, Revolut, etc. are very easy to set up and use.

Kind regards, 

Kim

Hi Angela

Thank you so much for the info! Very helpful. There has been a veritable bible of information in the last couple of days so thanks to all for the input! Obviously a popular debate! 

Looking forward to getting out there now.

All the very best

Ellie

Hi, I actually transferred yesterday and I use IFX. 

I have used them regularly with no issues 

Shane

I kept my current account with Santander in UK and my pension gets paid into that.  They pay me a little interest.  I withdraw from a Santander ATM here, no charge for withdrawals and a good interest rate.  You can withdraw 300€ per day.  

I used to use Currency Direct, but for the past 18 months have been using Transferwise. I would have no hesitancy in recommending them. Their Exchange Rates are the spot rate as shown on the Official Exchange rates, they are extremely efficient, sometimes exchanging and completing the transactions within seconds ( seven seconds the last time ) so your money is immediately available, and their charge is minimal, saving huge amounts on commissions that others may charge. SO...again, I would definitely recommend them.

One if the best to use is currencies direct , simple app and easy to use with good rates generally