Bank Transfers
 

I would if anyone could help please. I have just asked my bank to transfer a sum of money from my account to another spanish bank, also in my name, and they have told me that they will be charging me 100-150 euros for the transfer. Does this sound right? If it does, is there a cheaper way to do it, i.e. cheque?

Thanks

Re: Bank Transfers
 

Sorry NicCol, I'm not sure waht you mean. Is that a transfer between 2 spanish banks?

If so my bank charges me 1€ for such a transaction so yes it does seem very high!

Re: Bank Transfers
 

Who are you banking with ?
:)

Re: Bank Transfers
 

If Spanish bank to Spanish bank it sounds outrageous..though they do charge for everything. If it is making a payment from Britain to Spain, then better to use a company like HIFX who can guarantee no transfer charges at this end, and no receiving charges at the other.

Re: Bank Transfers
 

Yes, but even when doing an immediate transfer from my UK Bank to Spain. I telephone my bank manager, am charged £20 in the UK and nothing in Spain so 100€ still seems excessive.

Re: Bank Transfers
 

We have an account with the Halifax in Spain and bank transfers are free if you bank with Halifax UK or the affiliates eg. RBS.

Re: Bank Transfers
 

If a large sum use HIFX or Currencies Direct. Free transfer and better rate of exchange.

Re: Bank Transfers
 

My bank charged me £30 to transfer £1000 to Spain at the other end 2 euros

Re: Bank Transfers
 

Who do you bank with at each end ???

Re: Bank Transfers
 

The transfer is from Banca March to Caja Madrid. So its a spanish bank to spanish bank.

Re: Bank Transfers
 

NatWest in the UK and Bankinter in Spain so nothing out of the ordinary.

NicCol, have you checked with Banca Marche because that certainly does seem a ridiculous amount. I often transfer money via the internet from my Bankinter account to another spanish bank and I'm always charged 1€ regardless of the amount of the transfer.

Re: Bank Transfers
 

I have just e-mailled them to check. I don't know whu they have given such a broad range of the potential costs, 100-150 euros!!? :confused:

Re: Bank Transfers
 

I have used on line banking within Spain for a while now and it costs 1 euro per transfer. Have you explored this possibility ?

It's instant and you know it's actually been done !

Re: Bank Transfers
 

Change to Halifax bank in England. then open a Halifax Hispania Bank account, transfers between the 2 made quickly by telephone are free!! We did this and have no complaints.

Re: Bank Transfers
 

I am transferring banks, which is probably why the Banca March are trying to charge so much. Interestingly though, I contacted them, as Dazzle suggested, and basically asked if they were sure, and they have brought it down to 65 euros. Hmmm...

Re: Bank Transfers
 

Draw it out in cash, leave a few € in and deposit rest in new bank.

Re: Bank Transfers
 

Cash isn't an option at the moment as we are in England. Though keeping a small amount in will be a good idea!

Re: Bank Transfers
 

They do like charging here for every transation and every bit of paper! But if you need for future...halifax in uk to halifax banco here is free for transfering money.

Re: Bank Transfers
 

We are currently with Banesto...it was purely for convenience at the time when buying the house in Spain. We will however be changing banks when we move over to one that is cheaper to opperate. At present, we are paying 4.50 euros for every transaction, eg electricity every two months. The account is a non residents account which is probably why they are charging extorionate amounts, however I must add in their favour that I can email the manager at anytime and ask any questions. She can speak very good English and well up on house buying matters. Does anyone else use Banesto?
Mary

Re: Bank Transfers
 

Thanks everyone for your help (and for saving me money!!)

Re: Bank Transfers
 

I got a similar acc at Bancopopular, no charge for transactions ;) they charge 8 € a year non res payment and hold 15% of interest for the nice taxman.

Re: Bank Transfers
 

NicCol, like other people have said - Do the Halifax thing - open a british Halifax account (or Bank of Scotland) and a Banco Halifax - it's possible to do transfers from Halifax to Banco Halifax for free & over the phone (don't know about the other way round but why would you?). You can also check both accounts on the information super web (you can't initiate transfers on the web). When you make a transfer they speak in english are very helpful and tell you exactly the rate etc. The Banco Halifax account is a genuine spanish account so you can use it to automatically pay for insurance, gas, elec, telephone etc. You can also withdraw euros from Servired cashpoints without charge.

Regards, Graham