Money transfer

[waterlily]

Hi

I´m sure this has been covered so I apologise for any duplication. Can anyone tell me the best way to transfer money from the UK to Spain and also how long it is likely to take? Can it be done online?

Many Thanks

Waterlily

[Alan-LaCala]

There are many specialist currency firms, who generally offer good deals.

HIFX, Moneycorp, Currencies Direct. Currencies 4 Less are but a few I know of.

I personally have used HIFX for all my transfers and found them to be excellent. No doubt others will tell you that the ones they use are also good.

It costs nothing to register with them and get your password. You can then either choose the one offering the best rate, or giving what you feel is the friendliest service.

You have to speak to them on the phone, but all the paperwork can be done online.

Good luck.

Alan

[GRANVILLE]

The Halifax builing society has a Spanish branch called Banco Hispania they tranfer money between each other with no charges or fees and it takes about three days. The rate i got was 1.47E to the pound.

[dido72]

Hi,

we used currencies direct, you just open an account with them on line and then just ring them when you want to transfer, they will ring you at times when the exchange rate is particularly good to let you know!

Diana

[mickhick]

Just remember that the rate which HIFX (and I imagine the others) quote is the inter-bank rate and the rate that they offer you will be much lower than you see on XE.com.

[Heston]

i used Currencies direct free of charges and good rate..very easy to deal with also
x

[waterlily]

Thanks you guys, done and dusted!

MIne of info as always


Waterlily x

[blondie]

Out of interest who did you use Waterlilie?

I need to transfer to the UK and my bank want to charge an arm and a leg!

The Halifax looks good but I can´t be bothered trying to open to new accounts to transfer monies back and fore.

Anyone?

[Heston]

Blondie

my inlawa opend a Halifax euro account and it has been a nightmare for them they get charged at every turn!

[GRANVILLE]

I have a Halifax banco Hispania account , it costs me 29e a year and all transfers are free. Ive used it half a dozen times with no problems or fees. Money arrived in about 4 to 5 working days.

[tt]

I used Hifx on a yearly contract fixed rate no transfer charge to my Banco Halifax account. Everything fine until last November when they deducted a transfer charge. Despite their promises this continued in December and January. I am still waiting to be reimbursed for the charges. I found their customer services very poor. Have therefore changed to Currencies Direct.

[Julie]

I also used currencies direct and have found them good to deal with and decent rates, having said that what is the market like at the moment, the rate was excellent a few Weeks back, probably rubbish now i need to move money again soon

[anyroads]

Julie, the rumour is there will be one more quarter of a percent interest rate rise in May ( hope it does not happen of course) and if so, the pound will once again strengthen against the EURO. Worth holding on another month.

anyroads

[Julie]

Thanks for the reply

[blondie]

Thanks guys,

I looked at HIFX and they quoted me 1.51 to transfer to pounds, not a great rate. However if the pound does indeed strengthen then it will only get worse.

I don´t know whether or not to open a Barcalys account here, have you see the offer of 10%?

[Retro P]

True story this, in 1995 someone known to me and by me, but I stress not a "friend" in the correct sense of the word, paid someone to bring a ford escort from london to Calahonda (Mijas Costa) the car had a flat tyre in Plymouth so the driver attempted to change it at the roadside, the spare was flat and by coincidence a passing patrol car offered to take him to the nearest garage to inflate it.
Being unable to inflate and balance the tyre correctly the garage mechanic proceeded to remove the tyre and check what the problem was, whilst the traffic cop waited nearby smoking and waiting to take the escort driver back to his car.
Imagine everyones surprise to discover 50,000 sterling in used notes inside the dud tyre, it took the owner three years to get it back!