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Property

Posted: Sat Jan 11, 2020 7:16pm
18 replies566 views11 members subscribed
Sammylouise

Sammylouise

Helpful member

Posts: 139

56 helpful points

Location: Camposol

Joined: 5 Jan 2020

Hi with soon moving to Spain. 

Could i please have some information on the best way to transfer funds for house purchase. 

Some are saying bank transfers are extremely expensive and I will not get the full benefits of the exchange rate. 

Some people advise using a financial company to transfer the funds. 

As it is a lot of money could someone please help advise me on the best and safest way to transfer the money to purchase a property. Where i will gain the extra amount from exchange. 

Thanks 

Roland

Posted: Sat Jan 11, 2020 7:19pm

Roland

Legendary helpful member

Posts: 3519

2581 helpful points

Location: Camposol

Joined: 23 Feb 2018

Posted: Sat Jan 11, 2020 7:19pm

Use Transferwise..........

batcupfamily

Posted: Sat Jan 11, 2020 10:14pm

Posts: 51

5 helpful points

Location: La Tercia

Joined: 26 Mar 2016

Posted: Sat Jan 11, 2020 10:14pm

Hi

We used Global currency exchange network, there are many companies that will give you a quote based on the 

current exchange rate.

frequent flyer

Posted: Sun Jan 12, 2020 8:18am

frequent flyer

Super helpful member

Posts: 969

1082 helpful points

Location: Camposol

Joined: 9 Feb 2018

Posted: Sun Jan 12, 2020 8:18am

Sammylouise wrote on Sat Jan 11, 2020 7:16pm:

Hi with soon moving to Spain. 

Could i please have some information on the best way to transfer funds for house purchase. 

Some are saying bank transfers are extremely expensive and I will not get the full benefits of the exchange rate. 

Some people advise using a financial company to transfer the funds. 

As it is a lot of money could someone please help advise me on the best and safest way to transfer the money to purchase a property. Where i will gain the extra amount from exchange. 

Thanks 

Bank transfers are much safer than any private company to deal with especially if its a large amount...back last year I transferred a large amount from UK/Spain and it only cost £25 you must make sure that you only send Euros over otherwise the recipient bank will charge for receiving the money ... your bank in the UK will do this for you you also need your Spanish banks IBAN number as well as All your other details doing it this way safeguards your money ...if a transfer company goes bust you will not get any of your money back...banks are covered by Trading Standards and government bank guarantees .. money transfer companies are not they are ok for small amounts but not large amounts of many many thousands ..one of these money transfer companies went into liquidation back last year so be careful and many people lost their money this was well documented on TV and the papers.

Meganbubaloo

Posted: Sun Jan 12, 2020 1:16pm

Posts: 14

8 helpful points

Location: Camposol

Joined: 5 Sep 2018

Posted: Sun Jan 12, 2020 1:16pm

We used Currency Direct. No problems. 

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eduardo3332

Posted: Sun Jan 12, 2020 1:46pm

eduardo3332

Super helpful member

Posts: 1570

1178 helpful points

Joined: 21 Jan 2016

Posted: Sun Jan 12, 2020 1:46pm

I always use transferwise. Never had a problem and quick efficient service

Mick72

Posted: Sun Jan 12, 2020 8:50pm

Posts: 128

43 helpful points

Location: Fortuna

Joined: 24 Aug 2018

Posted: Sun Jan 12, 2020 8:50pm

I use Worldfirst. Good  exchange rates, simple system and money is transferred within minutes. Had no issues with them for 18 months I have used them.

batcupfamily

Posted: Sun Jan 12, 2020 9:15pm

Posts: 51

5 helpful points

Location: La Tercia

Joined: 26 Mar 2016

Posted: Sun Jan 12, 2020 9:15pm

We have used GCEN for over 12 years with no issues

andyhenderson10

Posted: Sun Jan 12, 2020 9:16pm

Posts: 5

Location: Camposol

Joined: 25 Oct 2019

Posted: Sun Jan 12, 2020 9:16pm

we are in the same boat, and about to buy next month, ive researched a few options and transferwise was the best deal saving a considerable amount

Michael 1979

Posted: Wed Jan 15, 2020 1:52pm

Posts: 50

19 helpful points

Location: Camposol

Joined: 24 Jul 2019

Posted: Wed Jan 15, 2020 1:52pm

We bought a property last summer, I payed the deposit via currencies direct, then payed the rest via a revolut account, which was much easier,  I have a gbp and a euro account, and can now switch money to and from without fees at the interbank rate, which is good for topping up my bankia account to pay the bills

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