Hi there need to transfer 3000 Euros to take the property we are buying off the market. Can anyone advise the best way to transfer from a UK account to a s Spanish one without paying rediulous bank fees. Thanks
Posted: Wed May 2, 2018 5:05pm
Super helpful member
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RayHelen2016 wrote on Wed May 2, 2018 4:33pm:
Hi there need to transfer 3000 Euros to take the property we are buying off the market. Can anyone advise the best way to transfer from a UK account to a s Spanish one without paying rediulous bank fees. Thanks
I expect you have a solicitor in place but if not do be careful handing money over as a deposit to anyone? other than on the advice of a solicitor.
A good solicitor will advise you the correct procedure as in Spain a deposit is non-refundable if you change your mind. People have been known to lose money paying a deposit.
You may want to get a survey done to see if the property is in good order and also a solicitor will check licenses and legalities on the property and the developer if it's a new build.
In England the deposit scheme was stopped years ago.
Properties do not sell fast in Spain no matter what any Agents tell you. So take time to be sure it is the right property for you.
Sorry if you know all this but just worth checking.
Jan
Posted: Wed May 2, 2018 5:20pm
Helpful member
RayHelen2016 wrote on Wed May 2, 2018 4:33pm:
Hi there need to transfer 3000 Euros to take the property we are buying off the market. Can anyone advise the best way to transfer from a UK account to a s Spanish one without paying rediulous bank fees. Thanks
Transferwise or if your account is at Lloyds then they only take a fee of £9,50 for international transfers now which is better than most tranfer companies .
Anna
Posted: Wed May 2, 2018 5:24pm
Very helpful member
Don't pay a penny to the agent. 3000e is one of the biggest scams.
Make the offer to the agent. If accepted tell them your solicitor will handle the deposit via the seller's solicitor.
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Posted: Wed May 2, 2018 9:03pm
Weve just bought a property and used Currency Direct , who were fab and no charges and made some money too with the euro increasing. It exchanged my money and transfered proprty amount to my lawyer in batches same day and NO charges as they use barclay account. This co. Was reccomended through a reputable spanish property company. good luck.
Posted: Wed May 2, 2018 9:19pm
Helpful member
All uk banks should transfer funds within the eurozone at no charge as long as you transfer in euros and you don’t request same day money transfer(usually takes 2/3days) and is under 50k.
Check with your own bank first
Hope this helps
Posted: Thu May 3, 2018 8:07am
Check rates with online companies as usual at commercial rate and no charges. This is useful for buying too asyou can fix rate so you know what you are paying as market can effect euros and drop from1.13 to 1.10 will make difference. Have currency’s direct as mentioned and also rational FX. But as mentioned we only paid money to solicitor. Hope helps
Posted: Thu May 3, 2018 8:32am
Helpful member
RayHelen2016 wrote on Wed May 2, 2018 4:33pm:
Hi there need to transfer 3000 Euros to take the property we are buying off the market. Can anyone advise the best way to transfer from a UK account to a s Spanish one without paying rediulous bank fees. Thanks
Currency fair exchange pounds to euros, charge 3 euro per transaction up to 50000 Euros direct to a nominated bank account.
RayHelen2016 wrote on Wed May 2, 2018 4:33pm:
Hi there need to transfer 3000 Euros to take the property we are buying off the market. Can anyone advise the best way to transfer from a UK account to a s Spanish one without paying rediulous bank fees. Thanks
I have used Transferwise. Money is usually in my Spanish bank account the very same day or the next day at the latest. Always get a better rate than other providers.
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