# Money transfer



## Johndelgardo (Dec 20, 2015)

Hi I need advise on transferring money from a UK bank to a Spanish bank the best way to go about it,when we move to Spain. 
Best regards john :welcome:


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## bristolsaint123151262 (Nov 15, 2014)

Have a look at Moneycorp. Recommended by Daily Telegraph and looks ok to us. Not used them yet but that's who we plan to use


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## Johndelgardo (Dec 20, 2015)

Thanks I will give them a look.john


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## Lynn R (Feb 21, 2014)

This is another topic which has been raised many times before on the forum, the most recent being

http://www.expatforum.com/expats/spain-expat-forum-expats-living-spain/878858-money-transfer.html


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## snikpoh (Nov 19, 2007)

bristolsaint said:


> Have a look at Moneycorp. Recommended by Daily Telegraph and looks ok to us. Not used them yet but that's who we plan to use


Moneycorp may be the biggest but they certainly don't offer the best rates nor are they the cheapest.

Look at the previous thread but I use peer-to-peer systems like currencyfair


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## Madliz (Feb 4, 2011)

I used Moneycorp a few times but get much better rates with CurrencyFair. I always manage better than the interbank rate and there's a flat fee of €3. I transferred some pounds to them on Friday, exchanged that same day, transferred it to my account here and it's arrived today. Unbeatable, in my opinion.


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## Maureen47 (Mar 27, 2014)

I have always used Transferwise , great rates and fast efficient service. The service is good and if you use a debit card to transfer rather than a bank transfer even quicker. Easy to use online service. Best available at present in my opinion.


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## baldilocks (Mar 7, 2010)

Wasn't MoneyCorp the outfit with the dodgy survey results that were used to start that ridiculous rumour a couple of years back that more than half of the Brits in Spain were thinking of going back to UK??


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## Rabbitcat (Aug 31, 2014)

They sure aren't cheap some of those money transfer companies
Surely your own bank would be just as good if sending from a UK account to a Spanish account


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## Lynn R (Feb 21, 2014)

Rabbitcat said:


> They sure aren't cheap some of those money transfer companies
> Surely your own bank would be just as good if sending from a UK account to a Spanish account


The transfer fees charged by UK banks are much higher than Currency Fair or Transferwise, for example, and the exchange rate they offer is laughable by comparison. My bank (First Direct) used to charge 25 pounds per transfer, then that was changed to 9 pounds for a standard transfer (probably because they had so much competition from the peer to peer operators). 9 pounds is still a lot more than the €3 per transfer fee I pay to Currency Fair.


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## Rabbitcat (Aug 31, 2014)

That's good to know Lynn

Currently I haven't saved up €3 to send never mind pay the fee but at least I know for future reference


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## Lynn R (Feb 21, 2014)

Rabbitcat said:


> That's good to know Lynn
> 
> Currently I haven't saved up €3 to send never mind pay the fee but at least I know for future reference


You'll have to ask your wife for a sub then.


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## welshduo (Aug 26, 2012)

Transfer wise have always been the best for us.


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## Rofa (Dec 3, 2009)

Been using Currency Fair for over a year - amazed by how quickly they respond to queries.


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## el pescador (Mar 14, 2013)

Cant beat currencyfair imo especially if you use the exchange and are prepared to wait for a good rate which also cuts out the .5%.


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## smitty5668 (Feb 25, 2015)

used both currency direct and smart currencies. the latter is definitely better for large amounts of currency


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## samthemainman (Aug 15, 2012)

Another vote for transferwise here. If I do it early enough it can be in my spanish account the same day. All online, no fuss.


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## Pesky Wesky (May 10, 2009)

This is probably a really silly question but how about transferring euros from a Spanish bank (Caja Laboral) to Nat West?


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## snikpoh (Nov 19, 2007)

Pesky Wesky said:


> This is probably a really silly question but how about transferring euros from a Spanish bank (Caja Laboral) to Nat West?


... into euros or sterling?

Use Currencyfair or Transferwise as before but in reverse.


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## Pesky Wesky (May 10, 2009)

snikpoh said:


> ... into euros or sterling?
> 
> Use Currencyfair or Transferwise as before but in reverse.


Euros to sterling. It seems my bank will charge 5€ for any transfer of 2.000€ or less, but transferwise will charge 9,95€...


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## Lynn R (Feb 21, 2014)

Pesky Wesky said:


> Euros to sterling. It seems my bank will charge 5€ for any transfer of 2.000€ or less, but transferwise will charge 9,95€...


Check Currency Fair - to exchange sterling to euros and transfer to Spain costs a flat fee of €3 regardless of the amount, so I can't see why the reverse would be any more expensive. Also compare the exchange rate available from your bank with what you could get from CF. I don't know what kind of rates Spanish banks give, but the UK ones are terrible.


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