House money Transfer

Hi. Can anyone recommend the best approach to transferring a good amount of money from the UK to Spain to buy a house? I expect that this will be standard through the solicitors but is it possible to pay with 'Wise' for example? Anyone care to share the 'best practice' for this type of event?

We transferred via wise to our Spanish bank account and then transferred to vendor on the day of sale. We bank with Santander (Quesada branch) and they were very helpful. We still paid a small fee for the bank transfer on day of sale. No different to paying for bankers draft or similar in the UK.

So, into Wise in Sterling (no fee from Wise at this stage?). Did you then transfer into Euros within Wise before transferring to you Santander account, or transfer them the Sterling straight from Wise?

better to transfer into Wise in Euros then it is just a straight euro to euro transaction at the notary

Luckjockey wrote:So, into Wise in Sterling (no fee from Wise at this stage?). Did you then transfer into Euros within Wise before transferring to you Santander account, or transfer them the Sterling straight from Wise?

Stirling to wise and then euro to Spanish bank, all done within wise app.

So, no fees to pay the bank (Santander), just the transaction fees from within Wise from GDP to Euro? Sounds like a plan to me.

Did you check out any other transfer options before you went for the Wise option?

Don't need to know your business, but would you mind sharing the GDP to Euro rate from Wise at the time (assuming it was a decent amount). Thanks

Have a look at Atlantic Money. Works the same as Wise but they have a flat fee of just 3 pounds. You could save a lot of money.

Luckjockey wrote:So, no fees to pay the bank (Santander), just the transaction fees from within Wise from GDP to Euro? Sounds like a plan to me.

Did you check out any other transfer options before you went for the Wise option?

Don't need to know your business, but would you mind sharing the GDP to Euro rate from Wise at the time (assuming it was a decent amount). Thanks

Yes, just the wise transaction fee. We sent money over in multiple transactions. E.g £10,000 got us 11,383e when £1=1.142 e. Wise charge £41.03. If you have the wise app, you can see the exchange rate and the amount they will give you. There are various transfer options, we always use the cheapest and in 99% of cases the movement of money is instant. I've sent you a pm.