Author Topic: Bank Charges  (Read 419 times)

Offline Jazza64

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Bank Charges
« on: November 26, 2018, 23:39:01 pm »
Has anybody transferred the proceeds of a house sale from Spanish Bank to U.K. If so what are the likely bank charges for an international transfer. (Sabadell). T.I.A.

Offline keith edwards

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Re: Bank Charges
« Reply #1 on: November 30, 2018, 11:14:53 am »
Hi Jazza
Are you not able to pay the proceeds of a property sale direct into a UK account?
Would make a lot of sense if you could 😎
If anyone could give a bit of guidance it would be appreciated.
Cheers
Keith

Offline Jazza64

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Re: Bank Charges
« Reply #2 on: November 30, 2018, 19:07:09 pm »
Hi Keith
It will be a Euro cheque so don't think possible to pay into UK account.
I'll try & call the bank next week.
Thanks

Offline Archer

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Re: Bank Charges
« Reply #3 on: November 30, 2018, 23:00:39 pm »
I seem to recall that Santander wanted to charge for depositing a large cheque. So, I got a transfer to a new Banca March a/c setup for the purpose. Same bank as the buyer.
Then I simply used Transferwise to move/exchange the money on days when the rates were most attractive. Worked for me.

Offline keith edwards

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Re: Bank Charges
« Reply #4 on: December 04, 2018, 12:37:04 pm »
Hi Jazza
Just back in UK and checking out Transferwise exchange rates as you do  :'(.
I noticed they have a new free 'borderless account' that allows you to keep up to 40 different currencies in that account for free in readiness to exchange when the time is right.
Transfer your euro sale proceeds into it and then out again into UK account when rates are good.
Check it out it may be just what you're looking for.
Cheers
Keith

Offline Archer

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Re: Bank Charges
« Reply #5 on: December 04, 2018, 16:19:18 pm »
We use the borderless a/c a fair bit. But, not advisable to keep the proceeds from a house sale in there. Despite what they say about guarantees, you wouldn't want to lose the lot!!

Offline Jazza64

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Re: Bank Charges
« Reply #6 on: December 05, 2018, 22:55:04 pm »
Thanks for your replies but I see that Transferwise is not covered by the financial services compensation scheme so would be too risky to deposit proceeds in there.

Offline Archer

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Re: Bank Charges
« Reply #7 on: December 07, 2018, 16:58:22 pm »
Not much is safe these days. Move a bit at a time  ;)