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Best rate for transfering funds to pay for property

Posted: Thu Feb 28, 2019 12:08am
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Posts: 52

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Location: Camposol

Joined: 27 Feb 2019

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

Posts: 13

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Location: Fuente Álamo

Joined: 20 May 2018

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

Posted: Thu Feb 28, 2019 9:06am

Beanie

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Joined: 5 Aug 2017

Posted: Thu Feb 28, 2019 9:06am

Revolut depending on purchase price 

Posted: Thu Feb 28, 2019 2:46pm

lucida100

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Location: Camposol

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Posted: Thu Feb 28, 2019 2:46pm

Definitely Transferwise FCA covered also.

Posted: Thu Feb 28, 2019 3:37pm

Beanie

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Joined: 5 Aug 2017

Posted: Thu Feb 28, 2019 3:37pm

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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Posted: Thu Feb 28, 2019 6:28pm

Roland

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Posted: Thu Feb 28, 2019 6:28pm

Transferwise is as good as it gets.

Posted: Thu Feb 28, 2019 6:49pm

frequent flyer

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Posted: Thu Feb 28, 2019 6:49pm

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 .

Posted: Fri Mar 1, 2019 7:41am

Posts: 37

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Location: Ricote

Joined: 30 Mar 2018

Posted: Fri Mar 1, 2019 7:41am

Have always used Smart currency exchange for money transfers. Never had any problems 

Posted: Fri Mar 1, 2019 8:46am

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Location: Camposol

Joined: 23 Jun 2018

Posted: Fri Mar 1, 2019 8:46am

Try UK Forex. I use them. No charges, good rates. Efficient service.

Posted: Fri Mar 1, 2019 8:53am

Posts: 81

star25 helpful points

Location: Camposol

Joined: 23 Jun 2018

Posted: Fri Mar 1, 2019 8:53am

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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