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Hi all,
We will be hopefully completing the purchase of our villa in April and will need to transfer the purchase funds across on completion day. Has anyone any suggestions about reliable money transfer companies? Does anyone know if it's possible to secure an exchange rate prior to making the transfer?
Posted: Thu Feb 28, 2019 7:35am
We used Moneycorp to transfer our. property purchase funds from our UK to Spanish Bank account. They were very helpful, the process was easy and straightforward and yes you can lock in a rate in advance of the transfer
Revolut depending on purchase price
Definitely Transferwise FCA covered also.
No fee with Revolut and interbank rates
For £6.99 pm you can do unlimited transfers at the interbank rate, cheaper than the fees with transferwise
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Transferwise is as good as it gets.
Posted: Thu Feb 28, 2019 6:49pm
Super helpful member
You might find that your bank as I have just done ..are just as competitive as the money transfer company's... The banks are also safer to transfer money with...only a couple of months back one of these money transfer company's went bust ..and many people lost all there money... If you transfer money via the Bank ..make sure you buy euro's and transfer them into you account in Spain ...if you do this you Will not pay any charges for your Spanish bank to receive the funds .
Have always used Smart currency exchange for money transfers. Never had any problems
Try UK Forex. I use them. No charges, good rates. Efficient service.
Just compared transferwise and UK forex.
UK forex €1.1653 no fee
Transferwise €1.1619 £3.65 fee.
Not much in it, but might be significant if it's a large amount.
Hope that helps
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