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Money transfer UK £ to Spain €

Posted: Sun Oct 20, 2019 8:18am
27 replies929 views15 members subscribed
Ced

Ced

Posts: 8

Location: Villamartin

Joined: 16 Oct 2019

Good Morning,

Looking for advice or recommendations on secure & price for moving finances to pay for property from UK to Spanish bank.

Thank you in advance Ced 

LeckyLes

Posted: Sun Oct 20, 2019 8:28am

LeckyLes

Super helpful member

Posts: 1752

1656 helpful points

Location: Cabo Roig

Joined: 3 Aug 2018

Posted: Sun Oct 20, 2019 8:28am

Good morning Ced, and welcome to the forum.

You should get replies recommending several different companies.

I can start off  by recommending a company called XE Money Transfer.

LeckyLes.

RayD

Posted: Sun Oct 20, 2019 1:04pm

RayD

Legendary helpful member

Posts: 6190

5135 helpful points

Location: Catral

Joined: 6 Jan 2016

Posted: Sun Oct 20, 2019 1:04pm

I can second Transferwise. I have used it quite a lot in the last year and it is safe and quick for either large or small amounts.

jack1959

Posted: Sun Oct 20, 2019 5:03pm

Posts: 38

29 helpful points

Joined: 8 Dec 2018

Posted: Sun Oct 20, 2019 5:03pm

transferwise

the shaker

Posted: Mon Oct 21, 2019 12:18am

Posts: 17

Location: Villamartin

Joined: 17 May 2017

Posted: Mon Oct 21, 2019 12:18am

I used xe money transfer it was a bit scary transferring a lot of money but had no problems with this company 

Leafy211

Posted: Mon Oct 21, 2019 8:17am

Posts: 125

22 helpful points

Location: Torrevieja

Joined: 15 May 2019

Posted: Mon Oct 21, 2019 8:17am

I used rationalfx for my last large transfer. If you ask for quotes from the main brokers they will often try to beat each other if you let them know the best rate you have been offered.  For smaller transfers, TransferWise is very hard to beat.

Ben G

Posted: Mon Oct 21, 2019 9:09am

Posts: 40

3 helpful points

Location: Calp / Calpe

Joined: 28 Sep 2019

Posted: Mon Oct 21, 2019 9:09am

Hello,

Can someone explain how to get the best exchange rate from all these stated money transfer companies, is there any website that compare their exchange rate or we have to call them individually to find out ?

Thanks 

Ben

Leafy211

Posted: Mon Oct 21, 2019 9:23am

Posts: 125

22 helpful points

Location: Torrevieja

Joined: 15 May 2019

Posted: Mon Oct 21, 2019 9:23am

If you send them an email, they will call you back. I asked them to give me their best and final offer based on xe.com rate (eg 0.02% above whatever the xe.com rate is at the actual time of dealing). 

Hope that makes sense! :-)

Ben G

Posted: Mon Oct 21, 2019 9:46am

Posts: 40

3 helpful points

Location: Calp / Calpe

Joined: 28 Sep 2019

Posted: Mon Oct 21, 2019 9:46am

Hi Leafy,

On your reply to Ced you mentioned that you used Rationalfx, was it after calling the other transfer companies to find out their rates?

Is Xe.com a comparison website for  echange rate ?!

Thanks for your reply

Leafy211

Posted: Mon Oct 21, 2019 10:07am

Posts: 125

22 helpful points

Location: Torrevieja

Joined: 15 May 2019

Posted: Mon Oct 21, 2019 10:07am

Hi Ben

I emailed 4-5 Forex companies, such as rationalfx, currencies direct, virgin money etc..asking what % they could offer above xe.com (a live rate website). This was to give me a standard benchmark to compare the offers. Each company rang me back to get more detail etc. And they also needed me to set up an account with them so that if/when I decided to go ahead with the exchange, they would have already completed their due diligence checks on me, so then all ready to go. 

They are all very keen for the business so definitely worth trying to get an improvement on their first offer. It can make a difference when exchanging a large sum of money. 

Once decision made and Spanish bank details etc provided to broker, it was very simply a matter of transferring £ to broker account and then euros were in my Spanish account within hours.

Hope that helps clarify but feel free to shout out if anything else :-).

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