Transferring money

[Steve&Yvonne]

How have people found to be the best and cheapest way of transferring money from Uk bank to a Spanish bank.

[Blue Sardine]

Hi

Try Hifx in UK i have never used them but they dont charge commission they make there money in the exchange rate. Local estate agents recommended to us! Not thate state agents are trust worthy! lol

[costakid]

any monet brokers are good. HIFX are one of the better known. I have used them in the past, no problem. You have to trust them with your money tho which is always a bit scary, the biggest firms can go bump as we al know. Maxwell is a good example. i am not sure if you are covered under any protection scheme with money brokers.

[concorde]

Just be careful which Spanish Bank you choose, they will try and charge you for receiving the money. Negotiate with them first, asking what they will charge, if not satisfactory, just walk away.

[Steve&Yvonne]

What about using Paypal? If both accounts have debit cards can I make a transaction to myself as though I was buying something?
Steve

[Blue Sardine]

Thats a great idea, never tried that one! Though i have cancelled our paypal account as after using eBay we had somes of money taken from our paypal account and our UK bank account. This has happened to my father too. This same thing happened to thousands all over the world. They may have added more security now, Once bitten twice Shy and all that.... although i did get divorced then married her again....lol

[alisonb]

HiFX are good, but only for amounts over £5000. They say that they will refund any receiving bank charges, but we've never been charged anything (Cajamar). I used to use Moneybookers to transfer smaller amounts, but it's a bit slow - depends how much you want to move and how quickly. Other way is to open account with Nationwide before you leave UK. You can keep an account with them when you live in Spain, but they won't let you open one

[DecorDiva]

Halifax are good if you have a UK account and a spanish account transfers are free for any amount

[El Cid]

They just get their fees from the lower exchange rate they give you.

Sid

[j4mes]

I have regularly used HIFX. The rate is better than the banks, and it's always been efficient....

[wendyakemp]

When using things like Paypal you must be very careful about the exchange rate. I think they are very low.
If you are back and forth a lot and need lots of transfers of small amounts you can get a euro bank account from most banks and many don't charge, but again check the exchange rates offered.
Nationwide advertise that they don't charge for converting back to sterling,haven't tried it but some of my customers rave over it.

[malagaman2005]

What about using Paypal? If both accounts have debit cards can I make a transaction to myself as though I was buying something?
Steve

Don't forget the paypal charges which is a percentage of the amount transferred, it will no doubt cost you more than a currency broker. I've used www.currenciesdirect.com for over 2 years now, no charges if transfer is over £5000 and £15 charge if under and they guarantee no receiving charges from spanish banks

[Heston]

always use currencies direct alway a good rate but like someone else said always check ur Spanish bank dosnt charge to receive

[hunterm]

Hi

I have just done a simular thing but I am transferring in Pounds and do the conversion here

E.G £100.000 cost £30 to transfer and then change on the day of arrival.

Regards

Malcolm

[Campo Kenny]

I assume you've checked conversion rates first?

On amounts of that much I always use an international currency broker here and send the money to bank in Spain in Euros.

We usually change at 4 or 5 points above high street, yet when I investigated the idea you mention I couldn't get anywhere near that rate in Spain and would have lost out.

Kenny