# Money transfer to Spain



## cyclequeen (Oct 5, 2012)

Hello All, I'm just looking for some advice on how most people do this please. I have always banked with Nationwide in the UK, we are due to move to Spain in June. We have opened an account with Lloyds in Gib as I thought this the most practical way to go about things. We intend to either have a Santander or Sabadell account in Spain for day to day things. I have now come across Moneycorp who tell me why bother with Lloyds just use their services to move money from the Nationwide in the UK to our chosen Spanish bank. They tell me that their exchange rate will be better than Lloyds to save us money in the long run. Has anybody done this please, also what is the view Santander or Sabadell :clap2:


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## rangitoto (Apr 25, 2011)

look at caxton fx I find them pretty good hope it helps


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## Aron (Apr 30, 2013)

cyclequeen said:


> Hello All, I'm just looking for some advice on how most people do this please. I have always banked with Nationwide in the UK, we are due to move to Spain in June. We have opened an account with Lloyds in Gib as I thought this the most practical way to go about things. We intend to either have a Santander or Sabadell account in Spain for day to day things. I have now come across Moneycorp who tell me why bother with Lloyds just use their services to move money from the Nationwide in the UK to our chosen Spanish bank. They tell me that their exchange rate will be better than Lloyds to save us money in the long run. Has anybody done this please, also what is the view Santander or Sabadell :clap2:


It really depends on how much and how often you are transferring money. If I transfer money from the UK, I just use Lloyds direct to Spain. I am retired and the pension is paid directly into my Spanish bank.


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## cyclequeen (Oct 5, 2012)

Aron said:


> It really depends on how much and how often you are transferring money. If I transfer money from the UK, I just use Lloyds direct to Spain. I am retired and the pension is paid directly into my Spanish bank.


Thanks Aron, we are not yet fully retired, both have v small private pensions & our capital to live off of until state pension kicks in in 3 years. So we will be transferring on a monthly basis for our living etc. So our private pensions are being paid into our Nationwide at present, I notice yours is paid directly to your Spanish bank. My point is is this the most cost effective way & do you loose out on the current exchange rate using your bank rather than say Moneycorp please ?


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## rangitoto (Apr 25, 2011)

you can use caxton quick pay to your Spanish account for bills and transfer money to your caxton fx card to draw money from an atm do this from your uk bank all done on line very easy you don't get charged for this service I had a nationwide card that did not charge for this but then they started charging so the card went


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## 90199 (Mar 21, 2010)

Banks in the U.K. rip you off when transferring money. I use Foreign Money & Currency Exchange Services, Euro Exchange, UK Currency Converter :: SmartCurrencyExchange.com


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## kurt85 (May 7, 2013)

*Exchange*

I use The DeVere Group as they get 5% better returns than the banks


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## 90199 (Mar 21, 2010)

I have just been looking at this site Foreign Exchange, Currency Exchange & International Money Transfer Specialists | HiFX plc looks good, I might try them. Anyone else used them?


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## doro (Aug 1, 2010)

Why you need to move your money.. I pay all stuff in Spain with credit card, when I need cash, I get from ATM from my credit card. You can have the main account anywhere in the world, does not matter, credit cards works


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## extranjero (Nov 16, 2012)

*credit cards*

Isn't it expensive using a credit card, with the charges.People are warned not to do this abroad. Also the warning on another post about scams is worrying.
We just write a cheque from our English bank, when the exchange rate is good.


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## doro (Aug 1, 2010)

Well, do not use credit card for every single shopping you do, I use credit card to pay online Movistar, Sattelite, cell phones, and such.. are max 5-10 shopping per month, for rest I use cash, I transfer on my credit card a sum to be enough for current month, go to ATM, get the cash, and that's it. I pay at Mercadona/Carrefour/etc with cash.

When you use credit card, especially in other country where credit card is emitted, you get charged over. For me is 1 euro for every credit card use. But if you put in balance the time spent to pay all bills and stuff at every office, I tell you is much better, and the extra charge is OK.

I don't know how is the deal with checks.

Thanks for info, I will check that post now.


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## extranjero (Nov 16, 2012)

I still not think that it is a safe or efficient way of paying bills out here; We pay nothing for transferring by cheque, which is a method many ex pats use.


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## doro (Aug 1, 2010)

extranjero said:


> I still not think that it is a safe or efficient way of paying bills out here; We pay nothing for transferring by cheque, which is a method many ex pats use.


I've answer here:

http://www.expatforum.com/expats/sp...rning-credit-debit-card-scam.html#post1160641

Safe? This is my ultrasafe method, read what I've wrote him in that link.

Efficient? Depends.


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## cyclequeen (Oct 5, 2012)

thanks guys looks like most people use some kind of money exchange company rather than a bank so I must be onto a sensible thing here, just have to decide who to go with


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## xgarb (May 6, 2011)

These guys are great for small amounts..

Send Money Abroad | Cheap Money Transfers From TransferWise

You get lots of email updates as the transaction processes.


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## Madliz (Feb 4, 2011)

After using Moneycorp several times (who are way better than a bank) I used CurrencyFair recently (who are way better than Moneycorp)! The rate I ended up with was actually better than the interbank rate at that exact moment, less a fee of just a couple of euros. It's a site than puts together those wanting to sell a certain currency with those wanting to buy. Watching the rates change and my currency being bought was quite addictive, I could see the appeal of trading currency, if only....!


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## stevelin (Apr 25, 2009)

We use HIFX never had a problem fingers crossed!!


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## nwill67 (Sep 27, 2012)

Like Madliz I recommend Currency fair, I use them every month to transfer money from our Nationwide account into currency fairs account where I get matched up with some one selling Euros wanting my pounds, the exchange happens all for £3.00 plus good exchange rates ,then off go the euro s into our Spanish account.
It's peer to peer exchanging , highly recommended , never let me down and as far as I'm concerned an inexpensive way.


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## mrypg9 (Apr 26, 2008)

My advice would be to open a £ sterling and euro account with a British Offshore Bank. I would not recommend Lloyds though - I have received 150 euros in compensation for mishandling my account.

Keep as little as possible in any Spanish account you may decide to open.

As for credit cards: bad advice! On money withdrawals interest on cash accrues from the day you withdraw.


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