Money transfer UK £ to Spain € - Page 2

Hi

a

I am just in the process of doing exactly the same.

I bank with Santander in London and the app is giving me better rates than anywhere or any of the exchange companies.

yesterday it was 1 1653 which compared to Currencies direct 1.131 you can see the difference.

today it is currently 1.1598 so down a little on yesterday, but anything above 1.15 is good at present I think.

I am trying to get 1/2 my money there before Brexit and see what the rate does after it’s done, I have 2 years to build so if the rate does drop it’s no real worry.

only downside is I can only send 10k sterling limit per day and I have had to email Sabadell explaining the reasons as they thought it looked dodgy!

I am sure your bank will have something similar.

I went through all this like you say, but their rates were rubbish, and sometimes I had what seemed like a school student on the phone trying to read off a script, saying the bank rates are misleading etc etc.

Hi Ced, transferwise, fast and always a good rate. Good luck 😎

That surprises me Ced. Who did you try? At the end of the day, you need to feel happy. But also regardless of how childish the person at the other end sounds, they are all obeying very strict money exchange guidelines, so it's worth finding the best option (ignoring personalities) that work best for you. TransferWise is a service I use, and indeed bank with. They are great for small sums. But they will openly admit they can't compete when larger amounts of £ are in question.  And starling similarly.

Hi Ced,

Start with www.transferwise.com - you don't need an account to test transfer values on their online calculator and not only will you see the exchange rate, it also tells you the fee charged (£3.95 for £1,000) and how much will arrive in your bank account.  This is very important - too many people focus on the exchange rate without thinking about the amount of money they will receive after fees have been deducted.

Good luck!

Kind regards,

Kim

I struggle to recall but I'm sure someone on this forum will advise, but I moved my money in 3 seperate transactions on the advice of my solicitor as I belie e there may be tax Implications on large amounts....it may have changed now but please check it out.

I used xe.com and they were good and helpful, but now i use transfer wise to top up my spanish bank account. I think you will find they are both comparable.

I Strongly recommend Moneycorp, they are Internationally trusted and well established, Very Competitive you have your own account, where you can view all transactions Rates etc ... an account manager, Tel No if you need any assistance, 2-3 strong password access to your account, my friends and I use them and have never had a problem. free international payments and a welcome reward of £75-00, if you want me to recommend you, please private message me your email address and I will recommend you. Kind Regards Lee.

prob is your uk bank will limit to 10k per day...Transferwise is great...if you have time just keep doing it daily...

Thanks George & many others for info

Why do Banks restrict to £10 K ,sorry don’t understand why they do that ? 

Any advice please Ced 

If anyone is new to Transferwiae I can send them a link for a fee free transfer of up to 500GBP :) I get something back too but can’t remember what that is! :/