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Best way to move money please

Discussion forum for expats moving to or living in Spain.

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Re: Best way to move money please

Post Posted: Sun Jul 08, 2007 2:20 am

We used currencies direct found it pretty easy and painless. Much better than using a bank they charged us a fortune the first and last time we did it.

 

Crazy
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Re: Best way to move money please

Post Posted: Sun Jul 08, 2007 2:52 pm

Leave the money in UK until the payment is really needed in Spain.
Interest rates are generally better in UK and furthermore you will be much more at ease with opening accounts as you still have UK residency.

I would suggest to open
A Nationwide Flexaccount
(Nationwide) is very useful for their associated debit card which allows you free withdrawals from cash machines abroad (while all other cards stel you 2% extra!).

plus click the link very helpful will get you the top rate in euros
www.hifx.co.uk/ but a minimum transfer of £5000 will cost you nothing
Hope this helps


_________________

Regards Keith

 

keith
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Re: Best way to move money please

Post Posted: Tue Jul 10, 2007 9:56 pm

Hi megmet,
If it is State Retirement Pension that your husband will be receiving, you do know that it can be paid direct (in euros) from the International Pensions Service Newcastle to any bank in Spain......no charges from UK side.

Wish you all the best in your move....our house is up for sale in UK now and hope we will be off pretty soon.

Would be very interested to hear how you do transfer your money for house purchase etc.

Cheers,
Topsy.

 

topsy
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Re: Best way to move money please

Post Posted: Tue Jul 10, 2007 11:45 pm

Hi,

Can anyone tell me please where we can put the money in Spain from the sale of our house in the UK, plus our savings in order to get a good interest rate. We have opened a Banco Halifax Espania account and will have our company pensions transferred from our Halifax account here, but I believe they don't pay a good interest rate, so if that is correct we don't want to put a large amount in there. Any advice will be welcomed.

 

Walkinonsunshine
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Re: Best way to move money please

Post Posted: Wed Jul 11, 2007 2:01 am

- Walkinonsunshine

Hi,

Can anyone tell me please where we can put the money in Spain from the sale of our house in the UK, plus our savings in order to get a good interest rate. We have opened a Banco Halifax Espania account and will have our company pensions transferred from our Halifax account here, but I believe they don't pay a good interest rate, so if that is correct we don't want to put a large amount in there. Any advice will be welcomed.



third post above this one


_________________

Regards Keith

 

keith
Regular Poster
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Re: Best way to move money please

Post Posted: Wed Jul 11, 2007 2:15 am

Hi Keith,

So, you are saying that when we move over into rented accommodation we leave the money in the UK until needed, and even when we are permanently over in Spain in our own property to leave the money here and keep transferring as needed?

 

Walkinonsunshine
Regular Poster
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Re: Best way to move money please

Post Posted: Wed Jul 11, 2007 3:02 am

- topsy

Hi megmet,
If it is State Retirement Pension that your husband will be receiving, you do know that it can be paid direct (in euros) from the International Pensions Service Newcastle to any bank in Spain......no charges from UK side.

Wish you all the best in your move....our house is up for sale in UK now and hope we will be off pretty soon.

Would be very interested to hear how you do transfer your money for house purchase etc.

Cheers,
Topsy.


Hi Topsy,
Yes we do know about the transfer of my husband’s state pension, it will be paid direct into our Spanish bank account. The cost we want to avoid paying is in relation to his private pension, unfortunately the company paying this will only do so to a UK bank account something our financial advisor failed to inform us about.

Good luck with the house sale, we were fortunate that ours sold in four days. Very Happy
Meg.


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Don't just dream your dreams....live them.

 

megmet
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