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Transfering money to an English bank account

Posted: Fri May 31, 2019 7:00pm
11 replies375 views8 members subscribed
Joncy0109

Posts: 19

3 helpful points

Location: Camposol

Joined: 28 Jan 2019

Hi everyone 

We are moving to Camposol in August but will still need to send money home to England every month. Can anyone tell us what the cheapest and easiest way of doing this is please? Bank transfer? Paypal? Etc. 

Many thanks

Tracy

PeterC

Posted: Fri May 31, 2019 7:52pm

PeterC

Super helpful member

Posts: 2233

1446 helpful points

Location: Los Alcázares

Joined: 10 Nov 2016

Posted: Fri May 31, 2019 7:52pm

If your income is UK pensions, simply choose to have one of them paid into a UK bank rather than into your Spanish bank in Euros.

If the money is in Spain in Euros you should sign up with one of the currency exchange firms (e.g. ForeignCurrenciesDirect - there are others) then set up a regular transfer with them. The more you change, the better the rate you will get.

Roland

Posted: Fri May 31, 2019 8:33pm

Roland

Legendary helpful member

Posts: 3519

2581 helpful points

Location: Camposol

Joined: 23 Feb 2018

Posted: Fri May 31, 2019 8:33pm

Look at Transferwise.com

HelenRooke

Posted: Fri May 31, 2019 8:58pm

HelenRooke

Helpful member

Posts: 179

185 helpful points

Location: Camposol

Joined: 20 Oct 2017

Posted: Fri May 31, 2019 8:58pm

Use TransferWise. Best exchange rate even with charges.

Joncy0109

Posted: Fri May 31, 2019 9:54pm

Joncy0109

Original Poster

Posts: 19

3 helpful points

Location: Camposol

Joined: 28 Jan 2019

Posted: Fri May 31, 2019 9:54pm

Thank you for your reply. We will both be working as teachers in Spain. We have at least 20 years before we can claim those pensions unfortunately!!

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Tina02

Posted: Sat Jun 1, 2019 9:17am

Posts: 89

49 helpful points

Joined: 6 Apr 2018

Posted: Sat Jun 1, 2019 9:17am

I use a Revolut card to send money from England into our Spanish bank account-the exchange rate is good.

eduardo3332

Posted: Sat Jun 1, 2019 11:46am

eduardo3332

Super helpful member

Posts: 1570

1178 helpful points

Joined: 21 Jan 2016

Posted: Sat Jun 1, 2019 11:46am

As other people have said transferwise cheapest and very easy

MitchNorwich

Posted: Sat Jun 1, 2019 2:52pm

MitchNorwich

Helpful member

Posts: 210

117 helpful points

Location: Isla Plana

Joined: 5 May 2019

Posted: Sat Jun 1, 2019 2:52pm

Definitely Transferwise - best rates and quick - just beware you pay a higher charge if you pay by Debit card than if you pay by bank transfer. As others have said, even taking into account the charges - they still offer the best rates.

Martin

Posted: Wed Jun 5, 2019 12:12pm

Posts: 13

15 helpful points

Location: Camposol

Joined: 29 Sep 2018

Posted: Wed Jun 5, 2019 12:12pm

Open Revolut account they don't charge FX fees and can convert to GBP, EUR, USD and pay direct to EUR and GBP banks.  You can also use the card as debit and ATM up to £250 month free.

You can even pay your bills in Spain through it.

Martin

Posted: Wed Jun 5, 2019 5:11pm

Posts: 13

15 helpful points

Location: Camposol

Joined: 29 Sep 2018

Posted: Wed Jun 5, 2019 5:11pm

Open Revolut account they don't charge FX fees and can convert to GBP, EUR, USD and pay direct to EUR and GBP banks.  You can also use the card as debit and ATM up to £250 month free.

You can even pay your bills in Spain through it.

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