Author Topic: Transferring money to Spanish bank account  (Read 766 times)

Offline MalTTopic starter

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Transferring money to Spanish bank account
« on: November 26, 2016, 12:28:56 pm »
Is it best to use a financial firm as we did with buying our home to transfer or for a matter of just £3000, should we change on U.K. And bring with us? Thanks
 

Offline Johnrgby2

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Re: Transferring money to Spanish bank account
« Reply #1 on: November 26, 2016, 12:49:02 pm »
Is it best to use a financial firm as we did with buying our home to transfer or for a matter of just £3000, should we change on U.K. And bring with us? Thanks

it has to depend on the exchange rate available, and the type of account you have, and how often you come over We originally had a Key account with Sabadell, which allowed us to pay sterling in and at  no charge, but exchange rate was abysmal, and they charge circa €26 a quarter fees,  We live here, and use transferwise to move cash into our account which has a name I cannot recall, it requires a minimum input of €700 per month, but there are no fees. We transfer £700 per month across on the same day every month, and move larger sums when the rate appears to be at its best, Exchange rate is currently €1.177 with Transferwise , and they will charge yo around £15.94 in fees on £3000, you just have to weigh up the options, and work out what is best for you.
« Last Edit: November 26, 2016, 14:24:55 pm by Johnrgby2 »
 

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Re: Transferring money to Spanish bank account
« Reply #1 on: November 26, 2016, 12:49:02 pm »

Offline F1REFLY999

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Re: Transferring money to Spanish bank account
« Reply #2 on: November 26, 2016, 13:57:06 pm »
Transferwise charge £5 for transferring  £1000
 

Offline decho

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Re: Transferring money to Spanish bank account
« Reply #3 on: November 26, 2016, 14:03:56 pm »
Transferwise offering 1.172 now including fees...think it's hard to beat them and their operation is so slick...transfer normally occurs within hours.
 

Offline Windermeregolfer

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Re: Transferring money to Spanish bank account
« Reply #4 on: November 26, 2016, 21:58:54 pm »
We use UKForex, tonight the exchange rate 1.1635 with no fees, yesterday 1.1735, money is in overseas account within 24hrs, slick and straight forward.
« Last Edit: November 26, 2016, 22:00:39 pm by Windermeregolfer »
 

Offline MalTTopic starter

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Re: Transferring money to Spanish bank account
« Reply #5 on: November 28, 2016, 08:43:01 am »
Not moved over permanently yet, will look at transferwise. Thanks
 

Offline MalTTopic starter

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Re: Transferring money to Spanish bank account
« Reply #6 on: December 09, 2016, 09:07:08 am »
Just as footnote on this, tried transferwise and had problem with Barclays allowing it!! Need a word with them, eventually used foremost financial group, who we used with transferring money for purchases and had rate of 1.18
 

Offline Johnrgby2

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Re: Transferring money to Spanish bank account
« Reply #7 on: December 09, 2016, 09:33:03 am »
Just as footnote on this, tried transferwise and had problem with Barclays allowing it!! Need a word with them, eventually used foremost financial group, who we used with transferring money for purchases and had rate of 1.18

That is very strange as Transferwise use a Barclays  Bank Account in London to receive transfers, and the rate varies virtually by the hour, currently Transferwise are at €1.1875 effectively about €1.184
 

Offline F1REFLY999

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Re: Transferring money to Spanish bank account
« Reply #8 on: December 09, 2016, 10:20:51 am »
I transfer funds every month and every month at the last section of the transaction my TSB account stops the transaction. I receive a text instantly from TSB to confirm that this is a authorised transaction...I text back yes and within 10 minutes I am allowed to complete the transaction. I did speak to TSB about this and they advised because it was a money transfer that there were additional security protocols that had to be followed. Better to be safe than sorry  ;)
 

Offline MalTTopic starter

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Re: Transferring money to Spanish bank account
« Reply #9 on: December 09, 2016, 10:54:51 am »
I suppose that's true and will speak to Barclays, nicely!