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Bank charges

Posted: Tue Apr 12, 2022 10:22am
6 replies119 views7 members subscribed
Steveessex

Posts: 2

Location: Duquesa

Joined: 18 Mar 2022

My wife and I are purchasing an apartment in Duquesa ,we have been asked to transfer money to our new Spanish bank account. From UK

We were horrified at the cost to do this  !!!

Any advice on how to do the transfer without these huge costs would be appreciated 

Thanks

clifton1971

Posted: Tue Apr 12, 2022 4:44pm

clifton1971

Helpful member

Posts: 372

144 helpful points

Location: Estepona

Joined: 11 Oct 2019

Posted: Tue Apr 12, 2022 4:44pm

Steveessex wrote on Tue Apr 12, 2022 10:22am:

My wife and I are purchasing an apartment in Duquesa ,we have been asked to transfer money to our new Spanish bank account. From UK

We were horrified at the cost to do this  !!!

Any advice on how to do the transfer without these huge costs would be appreciated 

Thanks

Hi Steve

A lot of people use this company to move their funds. But there are other companies which have the same service.

https://wise.com/gb/send-money/send-money-to-spain

Nigel


 which

Holaitsdavid

Posted: Tue Apr 12, 2022 4:45pm

Holaitsdavid

Very helpful member

Posts: 1447

542 helpful points

Location: Mijas Costa

Joined: 30 Mar 2021

Posted: Tue Apr 12, 2022 4:45pm

You need to use this service, https://wise.com/

Once you have an NIE number and address in Spain you can also open an N26 online banking account which will save you a lot of Bank charges, 'high in Spain'. It's a Euro account, now very popular here in Spain. You can also use WISE to transfer money to it from a UK account,  https://n26.com/en-eu/open-bank-account-in-spain

Morelo S

Posted: Mon Apr 18, 2022 7:46am

Posts: 72

23 helpful points

Location: Estepona

Joined: 8 Nov 2021

Posted: Mon Apr 18, 2022 7:46am

Revolut for conversion from Sterling to Euros, best interbank rates, no commission, with Premium unlimited transfers,  then send Euros to Spanish account without charge at either end.

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Steve B

Posted: Thu Apr 21, 2022 1:43pm

Posts: 1

1 helpful points

Location: Duquesa

Joined: 21 Apr 2022

Posted: Thu Apr 21, 2022 1:43pm

Hi, we have recently purchased in Duquesa, we used a company (recomended by our agent) based in the UK called SatFX, James & Kelly were brilliant, not only did they transfer the money to Spain FOC but they beat our bank exchange rate by in the region of 400 euros. We got the money transfered to our solicitors client account, we transfered more than we needed and got the solicitor to pay the extra into our Spanish account for us. SatFx will also transfer smaller sums if needed. Hope this helps

jeaniebeanie

Posted: Thu Apr 21, 2022 11:22pm

Posts: 41

15 helpful points

Location: La Cala De Mijas

Joined: 17 Apr 2018

Posted: Thu Apr 21, 2022 11:22pm

Hi, I also recommend  a WISE.  I bought my apartment in La Cala, .  I use Wisd to pay all my Spanish Bill's.  Never had an issue and done instantly.  Good Luck. X Jean

AndyP

Posted: Fri Apr 22, 2022 9:31am

AndyP

Helpful member

Posts: 264

171 helpful points

Location: Estepona

Joined: 7 Oct 2016

Posted: Fri Apr 22, 2022 9:31am

As others have suggested, WISE is the way to go. Good luck with your purchase!

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