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Transferring money from uk

Transferring money from uk

Postby Luckylouise » Sat Jul 14, 2018 1:18 pm

Hi any recommendations for transferring money for purchase of a property from uk to Spanish account avoiding charges and getting the best exchange rates?
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Re: Transferring money from uk

Postby TonTri » Sat Jul 14, 2018 1:43 pm

We used IFX for transferring large sums for the purchase of our apartment and use Transferwise now for smaller sums for bills. There are several others that get recommended as well such as Smart Currency, Moneycorp, Currency Direct and it is worth checking them all out to see which one will give you the best rates for the sums you have in mind.
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Re: Transferring money from uk

Postby Luckylouise » Sat Jul 14, 2018 2:10 pm

Thanks
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Re: Transferring money from uk

Postby Juanita » Sat Jul 14, 2018 5:54 pm

You could also try World First Foreign Exchange. We use them for monthly transfers. Excellent service.
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Re: Transferring money from uk

Postby Benjy » Sat Jul 14, 2018 7:50 pm

Over 90% of people on this forum use and trust TransferWise.
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Re: Transferring money from uk

Postby JoeK » Sat Jul 14, 2018 8:36 pm

Be careful when transferring 50,000 Euros or more as extra charges will be incurred at your Spanish Bank
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Re: Transferring money from uk

Postby Dsj » Sat Jul 14, 2018 9:31 pm

.... or more than 25000 Euro in the case of Caxia Bank. I would also recommend Transferwise

If you have a few weeks before completion I would suggest several smaller transfers to reduce the risks associated with significant exchange rate movements "on the day".
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Re: Transferring money from uk

Postby snackman5048 » Sun Jul 15, 2018 6:22 am

Transferwise!
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Re: Transferring money from uk

Postby MALTHOM » Sun Jul 15, 2018 8:25 am

Hi, We recently went through this process. You can use several different brokers to transfer money from UK to Euros.

However, be aware that you might need to inform your bank in Spain if transferring large sums of money, otherwise it could get blocked (money-laundering prevention). We sold our house in the UK and had to prove to the bank the source of funds for a house purchase. Not sure if all banks ask for this but advise you check just in case?

The other advice is because the £/Euro rate fluctuates widely at the moment because of Brexit. we only transferred smaller portions of money over time, rather than one large amount in a single transaction.

Hope this helps.
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Re: Transferring money from uk

Postby bass2112 » Mon Jul 16, 2018 7:40 am

i have used XE in the past, no probs and no charge.
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