Is there a charge to send money to the U.K. from Spanish Bank

Information and questions about the Law in Spain and Andalucia.
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concorde
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Is there a charge to send money to the U.K. from Spanish Bank

Postby concorde » Sun Aug 07, 2016 1:23 pm

When a house is sold by a non-resident and they wish to have the money sent back to the U.K., does anyone know if or what the bank charges.
A UK currency firm would be dealing with this and they seem to have some affiliation with the bank, La Caixa.

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costakid
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Re: Is there a charge to send money to the U.K. from Spanish Bank

Postby costakid » Sun Aug 07, 2016 2:20 pm

Spanish banks charge for everything.

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Wicksey
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Re: Is there a charge to send money to the U.K. from Spanish Bank

Postby Wicksey » Sun Aug 07, 2016 3:22 pm

I would ask the bank what the charges may be. We were shocked and horrified as to what the bank would have charged us when we sold over 10 years ago (over a thousand euros), so we took the cheque with us to France thinking it would be better but then the money got lost somewhere "between Madrid and Paris" for 3 months.

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Re: Is there a charge to send money to the U.K. from Spanish Bank

Postby elusive » Sun Aug 07, 2016 3:23 pm

If you are using a currency exchange company (not curriences direct is it as i think they use caixa) then the spanish bank is just transfering the money to another spanish bank so i cant see why they should charge you unless its because its sich a big amount. Ive sent money to the uk doing the above and there was no charge

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Wicksey
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Re: Is there a charge to send money to the U.K. from Spanish Bank

Postby Wicksey » Sun Aug 07, 2016 3:32 pm

I meant that the bank charged us just to pay in the cheque before we could then transfer it anywhere. Won't it have to go into Concorde's bank account here before transferring it out via a currency exchange company?

I have done it in the past from France to the UK and the company (Halo) did not charge us anything to do the transaction, but I can't remember now how we got the money to them - presumably via our bank account.

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concorde
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Re: Is there a charge to send money to the U.K. from Spanish Bank

Postby concorde » Sun Aug 07, 2016 3:37 pm

Thanks elusive, that's what seems to happen with currencies direct, and no it will not be for a huge sum, certainly it will be for a huge loss on what was sent over by them when the property was bought nearly 10 years ago.
Still it could have been worse as bought when exchange was e1.43 and now probably e1.16.

That's of course if there is a sale.

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concorde
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Re: Is there a charge to send money to the U.K. from Spanish Bank

Postby concorde » Sun Aug 07, 2016 3:40 pm

Wicksey, posts just crossed.
Forgot about the cheque paying in charge, it beggars belief that any bank should charge for receiving a cheque, but I think they do.

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Re: Is there a charge to send money to the U.K. from Spanish Bank

Postby Parilla » Sun Aug 07, 2016 4:54 pm

If a Santander euro account was held in Spain, and a Santander sterling account held in the UK, there used to be no charges for transfers, and a very good exchange rate was applied for the conversion. No idea if that still applies, Santander are always focused on their bottom line, but may be worth a chat.

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concorde
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Re: Is there a charge to send money to the U.K. from Spanish Bank

Postby concorde » Sun Aug 07, 2016 6:57 pm

Thanks Parilla, unfortunately no Santander in our village although ultimately the funds would be deposited in a Santander U.K. Account.


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