sending out money

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27 May 2009 00:00 by gillian Star rating in Colchester and Altea.... 181 posts Send private message

Hi there again,

Up until now I have transfered money to Spain using my Spanish bank account in London and the same bank in Spain.Its easy and reliable but I am concerned about the rates offered.I may want to send out quite a large sum of money,any ideas as to the best deals around.

I do realise that the situation varies daily.

Thank you,

Gilly



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27 May 2009 21:54 by gwm Star rating in Pizarra. 139 posts Send private message

Sign up with HIFX or similar, they offer better rates for large amounts





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27 May 2009 23:04 by EOS Team Star rating in In Spain of course!. 4017 posts Send private message

EOS Team´s avatar

 Hi Gilly

We are always happy to recommend Moneycorp for foreign exchange.  They have been really good for the 3 years we've worked with them.

Request more info from them here.

Justin



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28 May 2009 10:26 by claire T Star rating in Torremendo, Orihuela. 689 posts Send private message

EOS Supporter

Hi Gilly - I always use John Mohan at Sterling Exchange as I get good advice about when to time my transfers, so that I get the best rates.  There are no fees and I just send them the Sterling, using my UK internet account, and it then appears in my Spanish account a few days later.



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Claire



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28 May 2009 10:42 by Team GB Star rating. 1245 posts Send private message

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Hi

We used Moneycorp for the big transactions when buying our house and they were very good, however the objective now is to get the very best rates on smaller sums to pay bills etc.

I would recomend the new live on line service from HiFX, it easy to register and you can see the rate changing on screen, you can also play about with different amounts to get a better rate, you can pay by credit or debit card and the service is free ( all costs in the rate)

5 mins ago it was as follows

1k e = 1.1006

2k e = 1.1192

5k e = 1.1286

6k e = 1.1329

Steve

 



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28 May 2009 11:27 by fultond Star rating in Haywards Heath & Tor.... 242 posts Send private message

Team GB, the rates do not look very competive. I'm not sure how that compares with the likes of MoneyCorp, but I would expect them to beat those. For small amounts I transfer sterling into my CitiBank UK Euro account. This transfers at very close to spot rate on the day. The 1Ke rate below is daylight robbery compared to yesterdays spot rates.



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28 May 2009 12:38 by Team GB Star rating. 1245 posts Send private message

Team GB´s avatar

 

Hi Fultond

Are Moneycorp intrested in anything under 6ke, I thought not, I did look into a Cti bank euro account, seem to remember they charged a monthly fee, is this still the case?.

Steve

 



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28 May 2009 13:56 by fultond Star rating in Haywards Heath & Tor.... 242 posts Send private message

No. The Citibank card is free of charges. I was slightly sceptical until I started loading it up with cash, and saw the exchange rate I was getting, even for small amounts. This is how I plan to get all my currency now for expenses in Europe.



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28 May 2009 16:27 by Marksfish Star rating in Vera, Almeria. 2565 posts Send private message

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I opened a Citibank Euro account to go with my Sterling account, then founf they wanted £10 per month for the priviledge and I closed it straight away.

I used Xe.com if I need to get large amounts over and I am unable to visit and withdraw cah on my Nationwide debit card.

Barclays now offer a UK to Barclays Spain fee free transfer service at "allegedly" market rates. I don't know if other UK banks are doing the same.

Mar





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29 May 2009 13:26 by advisor Star rating in London most of the t.... 311 posts Send private message

** EDITED - Against forum rules **

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29 May 2009 13:40 by Patty_1 Star rating in Hertfordshire. UK. .... 1062 posts Send private message

Mark,

Do Barclays charge for direct debit's and for having an account. like a lot of the Spanish bank's do.

Thanks Pat



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29 May 2009 15:42 by Marksfish Star rating in Vera, Almeria. 2565 posts Send private message

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Well........  We have a spain Solutions account which is €20 per quarter, but we pay €10 as my Wife is staff. We don't pay for direct debits, we don't pay for cheques drawn (don't know about paying in as we have never done so, but our keyholders tell us they aren't charged for depositing Barclays cheques when for other banks it is €10) and we don'ympay for the debit card. Bank transfers you pay 1% or a minimum of €4.50 which is a biummer.

There is another account they have brought out which is free of all charges if you deposit €750pm into the account. It can't be pro rata unfortunately, but with the free transfers it may be worthwhile?

Mark





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29 May 2009 15:58 by claire T Star rating in Torremendo, Orihuela. 689 posts Send private message

EOS Supporter

Hi all - I have a Bancaja account and I don't pay any charges at all, including the transfers through the company I mentioned earlier, Sterling Exchange.  I have a basic checking account with a debit card.



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30 May 2009 07:18 by advisor Star rating in London most of the t.... 311 posts Send private message

most bansk when transferring make a fuss out of the fact that there are no charges as opposed to currency exchanges however currency exchanges tend to have a fixed fee and overall still come out way on top especially for larger amounts



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30 May 2009 07:46 by sterling Star rating in Kent & Partaloa, Alm.... 206 posts Send private message

I have always used WORLDWIDE CURRENCIES , there is no minimum amount you can transfer and it can be done online and the rates have always been excellent commercial rates  and there is no charge for the service.



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Sterling



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