# Transfering money from US banks to Spain.



## latfla (Jul 1, 2013)

What's the best way to transfer money from a US bank to a Spanish bank? Thanks


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## CharlieMCFC (Jan 27, 2016)

I use a website called TransferWise. I have found it to be quick (if you use your debit card), cheap and reliable. They convert money at mid-market rates, cleverly bypassing the banks and charging modest fees.


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## CharlieMCFC (Jan 27, 2016)

They also have a phone app which works well.


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## Bevdeforges (Nov 16, 2007)

There is also a site called moneytransfercomparison.com that allows you to compare a number of fx and money transfer companies.
Cheers,
Bev


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## snikpoh (Nov 19, 2007)

Aren't there issues with transferring money from USA to Europe?

... or did I just dream it?


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## AllHeart (Nov 22, 2013)

snikpoh said:


> Aren't there issues with transferring money from USA to Europe?
> 
> ... or did I just dream it?


Yes, there are. Many of these companies are based in the UK, so you have to pay for the conversion from US dollars to pounds then to euros, which can get expensive. I have the same problem transferring money from Canada. But I found one that has a bank in Canada - Forex. However, they have a high amount that needs to be transferred.

UKForex | International Money Transfers | Online Money Transfers |


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## Elyles (Aug 30, 2012)

AllHeart said:


> Yes, there are. Many of these companies are based in the UK, so you have to pay for the conversion from US dollars to pounds then to euros, which can get expensive. I have the same problem transferring money from Canada. But I found one that has a bank in Canada - Forex. However, they have a high amount that needs to be transferred. UKForex | International Money Transfers | Online Money Transfers |


 it also matters on the size of the account you have with the bank and the privileges you might get with that account. 
We have no transfer fees and the US Government transfers money into our accounts for free (another issue)


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## AllHeart (Nov 22, 2013)

Elyles said:


> it also matters on the size of the account you have with the bank and the privileges you might get with that account.
> We have no transfer fees and the US Government transfers money into our accounts for free (another issue)


I get my govt pension deposited directly from the govt into my Spanish account, and I don't have to pay for that, thankfully. But the insurance company won't deposit my annuity into my Spanish account, so I have to pay for the transfer and conversion. I shopped around for banks, and the best deal I could come up with is 13.50 CAD per international transfer, plus the exchange rate. It's a lot!

If you use a company from the UK to deposit into your Spanish bank account, the withdrawal is in pounds, so you have to pay the exchange rate at your bank in pounds before they convert it to euros - which defeats the whole purpose of saving money on conversion with these companies.


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## AllHeart (Nov 22, 2013)

Elyles said:


> it also matters on the size of the account you have with the bank and the privileges you might get with that account.
> We have no transfer fees and the US Government transfers money into our accounts for free (another issue)


I get my govt pension deposited in euros directly from the govt into my Spanish account, and I don't have to pay for that, thankfully. But the insurance company won't deposit my annuity into my Spanish account, so I have to pay for the transfer and conversion. I shopped around for banks, and the best deal I could come up with is 13.50 CAD per international transfer, plus the exchange rate. It's a lot!

If you use a company from the UK to deposit into your Spanish bank account, the withdrawal is in pounds, so you have to pay the exchange rate at your bank in pounds before they convert it to euros - which defeats the whole purpose of saving money on conversion with these companies.


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## DanW (May 30, 2016)

Any Americans have any experience with Santander Bank? They now operate in USA and local branch has told me they are working to have closer ties with Spanish branch.


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## Elyles (Aug 30, 2012)

DanW said:


> Any Americans have any experience with Santander Bank? They now operate in USA and local branch has told me they are working to have closer ties with Spanish branch.


 we use Santander and often have money transferred from our accounts in the US. We are very pleased with our bank in Jaca


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## latfla (Jul 1, 2013)

Elyles said:


> it also matters on the size of the account you have with the bank and the privileges you might get with that account.
> We have no transfer fees and the US Government transfers money into our accounts for free (another issue)


Who's "We"?


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## Elyles (Aug 30, 2012)

latfla said:


> Who's "We"?


 My wife and myself, who else?


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## Anciana (Jul 14, 2014)

CharlieMCFC said:


> I use a website called TransferWise. I have found it to be quick (if you use your debit card), cheap and reliable. They convert money at mid-market rates, cleverly bypassing the banks and charging modest fees.


I was considering TransferWise for transferring my US pension to Spain, but since I also have two partial European pensions, which cover most of my ordinary expenses, and, when I decide to become a resident here (if I do) my US pension will be transferred by the US government without charge, I decided I could afford to be lazy and use my US bank (BofA) to make the initial transfer on line to cover me for half a year. My Spanish bank agreed to reimburse their portion of the fee, so the potential savings of using Transfer Wise - if any - would be negligible.


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## latfla (Jul 1, 2013)

snikpoh said:


> Aren't there issues with transferring money from USA to Europe?
> 
> ... or did I just dream it?


What issues?


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## latfla (Jul 1, 2013)

Elyles said:


> we use Santander and often have money transferred from our accounts in the US. We are very pleased with our bank in Jaca


Better than BBVA?


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