Bank Transfers

[jonno]

I use Currencies Direct and Global Currency. Both exchange at around 2 cents below commercial rate. Currencies Direct charge 15 GBP for exchanges less than 3K. Global Currency dont charge but you can only transfer at end of month (which means u can be waiting a number of weeks if u time it wrong). Both accept payment via Debit Card. Both need u to register with them and provide bank details in Spain and UK.

[Mercurian]

I know that a credit card charges interest if you don't pay it all off but we have never been charged for cash withdrawals abroad.

[ramblagirl]

I think what mercurian meant to say was 'there are no charges if you withdraw money on a Nationwide Debit card'

[DeeMart]

Quite right ES and thats exactly what I do but sadly that doesn't help when I'm in the UK.
Thanks anyway.

[ES]

Mercurian, I must correct you on your last statement.  Credit cards charge interest and a cash withdrawal fee of 2.5 % on cash withdrawals (cash advance) even if you pay off the balance in full.

[Mercurian]

There are no charges with a Nationwide credit card either.

[ES]

When you are in Spain, if you have a Flex (Nationwide) account with a Visa Dedit card (not credit) then you can draw to the limit of £300 (approx €300) per day at the official Visa rate with NO loading and NO ATM charges, then pay the euros directly into your spanish account.  

Do it each day for a week and you've moved £1500 over, and if the spouse has a separate account, £3000.  

For a little effort and inconvenience there is no cheaper way.

It works for me.

[andie]

cajamar,charge us 9e to pay  a large ish uk cheque in,and the rates normally good,the only downside is the 20 plus day wait for cheque clearance   S

[Blue Moon]

I bank with Smile, the internet bank, in the UK and Caja Granada in Albox. I use a secure messaging facility to request a transfer in euros from Smile to Caja Granada. They use the SWIFT facility and I am charged £8 each time. A transfer takes about 5 days.

[ptmd]

My British bank won't let me do international transfers online, but I can do it by telephone banking. ....................don't ask me why???

[Mickey]

Hi
LMJ what bank do you use here?  We have done the same as you but our Spanish bank charge us each time we pay in a sterling cheque.

[enjay]

I have an account in the UK with HBOS now part of the Lloyds Banking Group and one here with Banco Halifax Hispania also part of the same group. They recently introduced International Transfer on the internet.
The rate I get is halfway between the Tourist Rate and Foreign Exchange rates shown on the BBC's teletext page. The transaction is totally free at both ends and I can get the money out at any Servired ATM at no charge.
The delay is usually 2 days.
I know someone will come on to pull holes in this arrangement but it is extremely easy and convenient and not subject to a contract, monthly payments or any other regulation. I don't know what the limit is as I have only used it for house keeping top ups and have had no problems transferring up to a thousand pounds.
Nationwide have an easy transfer system but I don't know what rate you get or if there are any charges at either end.

[lmj52]

Hola
If you are going to pay in a sterling cheque you do not need a sterling account. My Bank will accept with no charge, and give a good rate, the same as moneycorp last time I did it, I checked before doing it. No charge at the uk end when cheque is presented. With regards to internet, this is hit and miss as you can see. If you do try it using the  International Bank Account Number (IBAN) please be very careful, as if you make a mistake and it goes into the wrong account it is a pain to sort out and get your money back.
LMJ.

[valliant]

I have found the best way to transfer sterling is to open a serling account with your Spanish bank write a cheque and pay it into this account. The cheque will take approx 10 days clear you can then transfer to your euro account and I find the rate of exchange to be very favourable. There are no charges with the UK bank and depending on your Spanish a small charge for handling the cheque but nothing like £20 more in the region of £5 or less.

[paul-sue]

Hi,
I have the same problem as you, I asked if i could use the internet banking to transfere money from UK to here and the answer was no only able to transfere money from one bank to another within UK using internet banking.

[DeeMart]

Would anyone know about transferring money from my Flex (current) a/c in UK (GBP) to my Spanish euro current a/c  via Internet Banking.
I normally use the swift/iban transfer which costs £20 odd each time. I can't see any sensible reason why I shouldn't be able to do it myself for free although my UK bank says I can't. I don't recognise the word 'can't.'
I'm signed up for Internet Banking each end.