Banking.
 

Does any know if it is possible to pay euros into a spanish branch of barclays to fund my uk barclays account (assuming i have a spanish barclays account), and how long the transfer would take. ? I need to keep some dosh in my UK account whilst in spain.

Re: Banking.
 

Inter bank transfers occur all the time, what you need to be looking at is how much will the spanish bank charge you for doing so! Its not very cheap to do I can assure you of that!

Look at the various finance clearing houses that abound, we use Custom House to transfer euro's from uk to spain, they charge us around a tenner for carrying out the transaction, but they will handle any currency going from or to anywhere in the world.

Re: Banking.
 

sun-pay.com charge €10 per transaction and cover a good few countries also, thats Euro / £ or £ / euro

Re: Banking.
 

Zads,
Ask them about internet banking, if you have not already done so. Its free.
LMJ

Re: Banking.
 

thats what i am hoping for, already sorted with internet banking for my business here (uk), looking to open a euro account at my branch in town, so the theory was to be able to pay into a barclays in spain, in euros then electronically distribute the funds to my other account back in the uk.

Re: Banking.
 

Lloyd TSB do free transfers between UK and Spain, I don`t know about Barclays, may be worth join Lloyds.

Re: Banking.
 

Nice one, I'll se what i can find on tinterweb

Re: Banking.
 

I have been told that the Barclays in Spain is a totally seperate from the bank in the UK, its a sort of o franchise operation and accounts in Spain cannot be linked with those in the UK.
I too have a Barclays account and am planning to live in Spain in 08/09, the only UK bank that I know of is The Halifax that will deal with your account in Spain and the UK simultaneously.
I hope you find that of help.

Re: Banking.
 

Let me know, i haven`t used it yet as i find it cheaper to withdraw funds in Spain from my UK account than to transfer and I don`t need to transfer yet.

I spoke to the UK representative of Lloyds in Marbella, she informed me if I set up an account in there branch transfers were gratis.

Re: Banking.
 

They're hardly going to be free though ...... the charge will be in the rate of exchange

Re: Banking.
 

Probably, but Natwest charge £18.00 plus CAM another 20.00 Euros.

So it`ll depend on the Exchange rate and quantity, but if your transfering only hundreds, I`d go for Lloyds.

PS i don`t do internet banking from this PC.;)

Re: Banking.
 

current rates for the Euro are down at 1.31 :eek:

Re: Banking.
 

I predict 1.18 by the end of 2008, and then someone called me a know all, I agree.;)

The pound is getting weaker and the Euro is probably better positioned than the Dollar/Pound.

Re: Banking.
 

yes Barclays here has no connection to UK Barclays - I have a Barclays account here - rip off for charges so worth shopping around

Re: Banking.
 

Have you tried reclaiming the charges, OFT have got a test case goin through the courts in a weeks time, then dependant on that will determine how wide the flood gates will open.

Already banks have refunded a lot of money,Money saving expert puts it at around £1 Billion refunded so far, but they`ve blocked the refunds until OFT rules on it.

Even if they win the case and justifiy charging, they still have to state the true cost of there charges, as they cannot profit from these charges, if it costs them £25.00 when you go overdrawn, then they charge it, but if they automate the system and it only costs say £1.00, then they must only charge you £1.00.

Thats why the claims have been made, nobody knows the cost in admin, each time an account is charged its possibly a made up amount with profits included.

And thats illegal as per the Banks contracts when you open an account.

If they can only show say a charge of £12.00, then OFT will enforce this as the true cost and then all customers who have been charged more will be able to claim back the difference goin back 6 years.

If there costs are far less the same will happen, and future charges will then been reduced to the correct level and Banks will no longer be able to make as much profit as before, which will hit the UK economy even harder.

So brace yourselves as all positives have an opposite negative.;)