House Sale

Information and questions about the Law in Spain and Andalucia.
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House Sale

Postby Usinspain2578 » Fri May 21, 2021 7:29 am

At long last sold my house in Spain what is the best way to send money from house sale back to UK Bank it used to be easy just a normal
bank transfer, a company called currency direct has contacted me and are saying now the banks deduct money from you if you put the cheque
from a house sale into your bank and also charge you to move the money to your UK bank, is that correct.
I have a lawyer and told him I want everything done legally but he does not seem to know the best procedure

Thank you

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Re: House Sale

Postby elusive » Fri May 21, 2021 8:00 am

They will charge you to transfer money from your spanish bank to a uk bank. Thats why people use companies such as currencies direct. C.D and others have a spanish account so its a normally transfer from one spanish bank to another then CD transfer it to your uk account

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Re: House Sale

Postby katy » Fri May 21, 2021 10:40 am

Unless Spanish banks have changed you will be charged just for putting the cheque into your bank account. Ranges from 0.5% to 1% which could cost you thousands depending on the size of the cheque. Beware.

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Re: House Sale

Postby Free at Last » Fri May 21, 2021 10:58 am

From the experience of a friend who used them, what Currencies Direct do is to accompany you to a branch of the bank they have an arrangement with (La Caixa, I think) where you pay in the banker's draft you have received at the notary's office on completion of the sale (thus avoiding your own bank's charges for paying it into your own account), then they exchange it to sterling and transfer it to your UK account. There aren't any charges but the exchange rate may be lower than the rate your own bank might use. She was very happy with the service.

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Re: House Sale

Postby chrissiehope » Fri May 21, 2021 1:01 pm

Our lawyer set up accounts with currencies direct, and the proceeds of the house sale were paid into them.We had account numbers & transferred the funds to our UK bank - very straightforward, tho' I can't remember exactly how it was all done.
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