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I want to transfer £15,000 to Spain in Euros
The inter bank rate now is 1.239 = 18,585
I just called my bank , Nationwide, they will do it only by SWIFT charge £ 25 if I did it now I will get €18,150 (so 18,120 net)
with HIFX I will get 18,300
with Money Corp 17,988
As they say, nice little earner, between 460 and 285 euros charges.for 'no charge' services
Based on the info I obtained, I decided to set up an account with HIFX just in case I decided they are the best for me.
It took 20 minutes to submit the details required and it has taken about 10 minutes for them to confirm the account is open and I can use it.
They said all I ned to do is call them amnd give my debit card number and they will make the transfer.
This message was last edited by johnzx on 11/12/2012.
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Johnzx, I actually do my HIFX transfers myself on-line without having to cal them. It is very user friendly (has to be for me to get along with it) and the process doesn't take very long at all. Perhaps you have to be UK resident to do that.
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Poppyseed
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£18,150 isn't too bad. However £18,495 from my currency provider is a lot better..
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Hi all
I have just checked with our FX propviders and the best price I could get would have given you 18585€.
If you want details ofour provider then do email/PM me and I will pass on the contact.
Dave
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www.damattproperty.com
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18,623e for £15,000 at 7.20 this morning
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Nobody plans to fail, many fail to plan, sadly the result is the same.
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John - I'm interested, was that the online rate with Moneycorp or did you speak live to an adviser? I would get €18,435 with them, but maybe because I joined via Eye on Spain so got a nil-charge rate, and having done the house-purchase transfer with them perhaps get some sort of preferential rate? Though once you have an account with them, you always get more than the rate you get just by using their online calculator. And why are people who are getting better rates, not sharing which company they use? I had imagined that Eye on Spain was about HELPING other members, not just telling us you know something but not giving the answers!
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Blog about settling into a village house in the Axarquía. http://www.eyeonspain.com/blogs/tamara.aspx
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ADVISOR,
How did you manage to get a rate of 1.2415 today, when the today's commercial rate high is only 1.2396?. Money transfer companies usually deduct at least 2 cents from that rate.
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hi
i have used smart currency for quite a while now and
they give a good rate and no fees are charged
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What we have found is that you get a good deal for your first transfer, then they slowly drop off when you are looking to transfer small amounts, say every month.
So transfer £15000 and you will get a good deal when you transfer that amount or even your interim and final amounts, but the regular transfers can be rubbish, but still better that the Banks. This is the question you need to ask when you set up the account. Dont be worried about registering with a number of providers and play one off against the other and check every few months to see if they are still giving you a good deal, if not MOVE.
Someone asked about signing up via a link on a site like eye on Spain. In most cases, there will be some sort of connection between the site owner and the service provider and the site owner will get a small fee for each person they sign up via the site link and they make a transfer, not big bucks, but it is still a fee.
Someone asked why not say who the company is, we most sites do not encourage this or allow it as it could affect any links they have with advertisers, you can always find out by sending a PM to the person who mentioned what ever it was.
Dave
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www.damattproperty.com
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Also, remember that you are entrusting your money with the transfer company. If they go broke before the funds are in your account, you may have lost everything.
Thus, if you are able ensure, that all funds are held by a substantial bank (whatever that now means)
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