# Spanish bank charges



## rollsroyce (Nov 3, 2009)

hi all, i need to send 63,000 to my newly opened cajamurcia bank account, cost me 6 eu to open it. they have kindly informed me that it will cost 300 euros to do this (about bl**dy £280) does anyone out there know of a less hurtful way on the pocket of doing this, and also when you get the bills (buying a town house) you get solicitor 1200 eu 100 for this 100 for that, 1000 for the notary, nice round figures wouldnt you say, (like not 940 eu ) just an observation. rolls


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## jojo (Sep 20, 2007)

rollsroyce said:


> hi all, i need to send 63,000 to my newly opened cajamurcia bank account, cost me 6 eu to open it. they have kindly informed me that it will cost 300 euros to do this (about bl**dy £280) does anyone out there know of a less hurtful way on the pocket of doing this, and also when you get the bills (buying a town house) you get solicitor 1200 eu 100 for this 100 for that, 1000 for the notary, nice round figures wouldnt you say, (like not 940 eu ) just an observation. rolls



That seems a bit steep, maybe shop around a bit. I'm not sure what our bank "Sol Bank" charges for large ammounts, it doesnt charge for small ammounts thats for sure??. However do you use one of the currency brokers "Currency Direct, HIFX etc. There are the international banks, ( Barclays spring to mind) have branches in Spain who I think do currency transfers for very little ???

Jo xx


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## rollsroyce (Nov 3, 2009)

*bank charges*



jojo said:


> That seems a bit steep, maybe shop around a bit. I'm not sure what our bank "Sol Bank" charges for large ammounts, it doesnt charge for small ammounts thats for sure??. However do you use one of the currency brokers "Currency Direct, HIFX etc. There are the international banks, ( Barclays spring to mind) have branches in Spain who I think do currency transfers for very little ???
> 
> Jo xx


i used Hifx to send 30000 to the estate agent but it seems these thieving toe rags are going to charge me this absurd amount just to put this money into my account for a couple of days, and then i have to pay various people with it. this is the Bank used by the estate agent. also high strret banks are the pits for exchange rates, if i had gone with my bank HSBC i would have lost about £200 on the 30000eu.


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## Caz.I (Mar 21, 2009)

rollsroyce said:


> i used Hifx to send 30000 to the estate agent but it seems these thieving toe rags are going to charge me this absurd amount just to put this money into my account for a couple of days, and then i have to pay various people with it. this is the Bank used by the estate agent. also high strret banks are the pits for exchange rates, if i had gone with my bank HSBC i would have lost about £200 on the 30000eu.



I had a similar problem when I sold my flat in London and was going to put the money into my bank account here. They wanted to change a huge percentage for the privilege so I closed that bank account and opened a new one. A lot of the banks charge a lot for large deposits but i opened a new account with Cajamar (spoke to the manager first about it) and they didnt charge me. I also hear that Solbank dont either.
Yes, all the fees you pay for buying property out here are scandalous, they just seem to round them up the ways to the nearest 100/1000.

Caz.I


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## Hombre (Sep 10, 2009)

rollsroyce said:


> hi all, i need to send 63,000 to my newly opened cajamurcia bank account, cost me 6 eu to open it. they have kindly informed me that it will cost 300 euros to do this (about bl**dy £280) does anyone out there know of a less hurtful way on the pocket of doing this, and also when you get the bills (buying a town house) you get solicitor 1200 eu 100 for this 100 for that, 1000 for the notary, nice round figures wouldnt you say, (like not 940 eu ) just an observation. rolls


Paypal ?


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## owdoggy (Jul 23, 2008)

rollsroyce said:


> hi all, i need to send 63,000 to my newly opened cajamurcia bank account, cost me 6 eu to open it. they have kindly informed me that it will cost 300 euros to do this (about bl**dy £280) does anyone out there know of a less hurtful way on the pocket of doing this, and also when you get the bills (buying a town house) you get solicitor 1200 eu 100 for this 100 for that, 1000 for the notary, nice round figures wouldnt you say, (like not 940 eu ) just an observation. rolls


Look into doing the transfer in two bits keeping both amounts less than 50,000. I know that some banks here charge for transfers above that figure but nothing up to that. 

We had to transfer a big lumper but did it in bits (you can arrange this with your transfer company where you agree a rate on the day but the amount is actually transferred in stages) and were not charged but the transfer guy said that another customer of his had been charged at the same bank (Barclays) for going over the magic limit.
Dunno if this will be the case with yours but it wouldn't hurt to find out.




Doggy


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## Stravinsky (Aug 12, 2007)

You dont need to pay anything in charges!!!

Go to HIFX or ITT Moneycorp and open an account. You wont pay charges when making a transfer on that sum. Then open an account with someone like SOL Bank. SOL dont make charges for receiving internet funds at all. Nothing. Nada. Zilch.

Doing it through a UK bank is usually costly. Paypal, you'll get charges


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## rollsroyce (Nov 3, 2009)

many thanks for that advice Stravinsky any ideas how i can open a bank account with Sol bank as i am now in the uk- it would need to be in the villa martin or torrevieja area- going over on the 10th Jan to pay the dosh over to the vendor, do you know if they charge much to write a cheque (it will be for 55,000 eur?- i have an account with hifx sent 30000 eur over last week to the estate agent, reason we went with caja murcia is that it is her bank and she enqired for us.(wonder if it was a charge for the 63,000 i was going to send in one lump sum ?- spoke to a lady from moneycorp in Spain today and she said they dont cover the bank charge, but HiFx said they would


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## Stravinsky (Aug 12, 2007)

rollsroyce said:


> many thanks for that advice Stravinsky any ideas how i can open a bank account with Sol bank as i am now in the uk- it would need to be in the villa martin or torrevieja area- going over on the 10th Jan to pay the dosh over to the vendor, do you know if they charge much to write a cheque (it will be for 55,000 eur?- i have an account with hifx sent 30000 eur over last week to the estate agent, reason we went with caja murcia is that it is her bank and she enqired for us.(wonder if it was a charge for the 63,000 i was going to send in one lump sum ?- spoke to a lady from moneycorp in Spain today and she said they dont cover the bank charge, but HiFx said they would


You are paying money direct to an estate agent & a vendor????
Excuse me for saying so, but thats not a very good idea at all. You need to be paying it through a solicitor, and the last payment for the balance should be made through a notary

SOL Bank will open an account fairly quickly. You can find them online on the internet


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## rollsroyce (Nov 3, 2009)

i have paid 30,000 to the estate agent,(as the vendor wanted a good deposit) and he wanted the deal done by christmas- i have a solicitor in spain, thought when the time comes i make a cheque to the vendor for 55,000, obviously with my solicitor in control - then pay the notory 1200 then the solicitor 1000 and 2 nie's at 100 is this the case ?? regards rolls


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## MRVT (May 17, 2008)

rollsroyce said:


> i have paid 30,000 to the estate agent,(as the vendor wanted a good deposit) and he wanted the deal done by christmas- i have a solicitor in spain, thought when the time comes i make a cheque to the vendor for 55,000, obviously with my solicitor in control - then pay the notory 1200 then the solicitor 1000 and 2 nie's at 100 is this the case ?? regards rolls


Please tell me that this is a wind up!


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## jojo (Sep 20, 2007)

MRVT said:


> Please tell me that this is a wind up!


Perhaps you should explain your comments in a bit more detail or you may be worrying Rollsroyce hun???? 

Jo xxx


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## MRVT (May 17, 2008)

Sorry Jo, but I thought my comments were obvious! No one would pay 30k to an agent as a deposit surely? Especially in today's economic climate? 10% tops to the vendor, with a receipt, maybe. I would even want that to be notarised.
Sorry, but if I was the OP, I would be worried. I fear this will end in tears.


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## rollsroyce (Nov 3, 2009)

*bank charges*

i have receipts from the agent and also from my solicitor, the agent has been in business for 9 years, thanks for your concerns - rolls


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## Stravinsky (Aug 12, 2007)

rollsroyce said:


> i have paid 30,000 to the estate agent,(as the vendor wanted a good deposit) and he wanted the deal done by christmas- i have a solicitor in spain, thought when the time comes i make a cheque to the vendor for 55,000, obviously with my solicitor in control - then pay the notory 1200 then the solicitor 1000 and 2 nie's at 100 is this the case ?? regards rolls


I'm really sorry RR ... whatever you have been told, whatever you think ...... what you are doing is fraught with worries. Apart from the scams over here, there are estate agents here going out of business all over the place. Paying £30k to one is sheer folly.

You should not be paying money to anyone other than through your abogado. Then HE controls everything and has irrevocable proof payments have been made. The final large payment should be made on the day of completion after the abogado has made last minute checks against charges against the property. It must all be done through the notary

There was an occasion a few months ago of a man doing what you are doing, and the vendor turned round and denied having any money from the seller. It went to court and the case was found FOR the vendor.

Please .... whatever advice your agent is giving you .... STOP! Go to your solicitor, and dont be rushed by a vendor asking you to send him money direct so that you can get the deal done by Christmas.

When we bought our house we paid €7k deposit. Then we paid in three further payments (it was a new build). The final payment (€35k) was made the day of completion with the notary as all the documentation was handed over and completed.


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## Stravinsky (Aug 12, 2007)

rollsroyce said:


> i have receipts from the agent and also from my solicitor, the agent has been in business for 9 years, thanks for your concerns - rolls


So you ARE paying through your solicitor!!! Thats fine then

The fact that the agent has been in business for 9 years means very little. There are agents here who have been in business since the 70's who have gone to the wall ..... and Faseda (one of the biggest developers in Spain) went to the wall earlier in the year. In this climate of crisis no one is safe in Spain!


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## MRVT (May 17, 2008)

rollsroyce said:


> i have receipts from the agent and also from my solicitor, the agent has been in business for 9 years, thanks for your concerns - rolls


As long as you found the solicitor independently and not through the agent! Personally, I would not hand 30k to any solicitor in Spain unless it was to settle a bill.!!


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## jojo (Sep 20, 2007)

the only thing I can say is that it is a buyers market in Spain BIG TIME! A vendor wanting a big deposit and wanting to move before christmas is just tough. He gets what he gets and quite frankly should be grateful that he's doing a deal at all in this economic crisis! You call the shots!

Jo xxx


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## MRVT (May 17, 2008)

jojo said:


> the only thing I can say is that it is a buyers market in Spain BIG TIME! A vendor wanting a big deposit and wanting to move before christmas is just tough. He gets what he gets and quite frankly should be grateful that he's doing a deal at all in this economic crisis! You call the shots!
> 
> Jo xxx


Especially in the area where the OP is buying, there are literally thousands of properties on the market of the type mentioned in another post. I would have suggested offering 30k less than the asking price before even mentioning a deposit, let alone viewing and buying in such a short time!!!


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