British Expats

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-   -   Money transfers to Spain (https://britishexpats.com/forum/spain-75/money-transfers-spain-623120/)

DENISE WALTERS Jul 31st 2009 11:04 am

Money transfers to Spain
 
:confused:HI ,I was just wondering what companys most people use for this.?
As there are so many companies out there offering their services How do you choose.:(

Helpful-Bob Jul 31st 2009 11:12 am

Re: Money transfers to Spain
 
We often use HIFX and find them helpful and efficient :):)

http://www.hifx.co.uk

snikpoh Jul 31st 2009 11:29 am

Re: Money transfers to Spain
 
We use WorldFirst who are excellent and don't charge commission. We have used MoneyCorp but they send money via banks who do charge (en route).

CLR Jul 31st 2009 11:39 am

Re: Money transfers to Spain
 

Originally Posted by DENISE WALTERS (Post 7800821)
:confused:HI ,I was just wondering what companys most people use for this.?
As there are so many companies out there offering their services How do you choose.:(

We use HIFX and they have given us good service. On the one occasion the handling bank charged us HIFX refunded staight away.

I also use their corporate exchange office nearly every week in my work capacity and find they give excellent, reliable efficient service.

mikelincs Jul 31st 2009 12:49 pm

Re: Money transfers to Spain
 
we used Currencies Direct, had no problems at all.

hitchw Jul 31st 2009 2:06 pm

Re: Money transfers to Spain
 
i always use rationalfx i have compared rates in the past with all the above companies and they have always come in with a better rate. there is no right or wrong way of choosing one company over the other, the way I would do it is by registering with a couple of companies as this is generally free to do and play them off against each other. this way you know you are getting the best rate. I have used the same dealer for a long time and he always keeps me informed of the markets. if you want his details feel free to pm me. couldnt recommend them higher.

best of luck!

me me Jul 31st 2009 2:12 pm

Re: Money transfers to Spain
 
We have found UKFOREX OR OZFOREX the best, if you go onto the website you will see the rate you actually get, not the interbank rate that is usually shown on other web sites, and when you contact them by phone they tell you the rate you can get which is always a lot less favourable.
With the company I have mentioned you get it all up front.
What you can do is register with UKforex get a quote on line, then call others and see if they can offer you any better deals, but at least you will have a concrete figure to work from, not some interbank rate.
You can get quotes anytime and as many as you like as there is no phonecall involved (they call you if you press the "proceed button".
Watch the news when a big announcement is coming and watch the changes in real time.
Open a word document and paste the quotes, then you will have a record.

I dont know if I would be allowed to post a few on here, or if it is against the rules of the site. If anyone can inform me, please do so.

Regards,

JLFS

DENISE WALTERS Aug 2nd 2009 7:36 pm

Re: Money transfers to Spain
 
now more confused than ever :rofl:

jdr Aug 2nd 2009 8:20 pm

Re: Money transfers to Spain
 

Originally Posted by DENISE WALTERS (Post 7806421)
now more confused than ever :rofl:

Ask your bank, we got a better and quicker deal than with any money movers.

Hillybilly Aug 3rd 2009 7:34 am

Re: Money transfers to Spain
 
Currencies Direct for me and never had a problem, always v helpful on the phone and quick with emails, transfers etc.


Originally Posted by jdr (Post 7806507)
Ask your bank, we got a better and quicker deal than with any money movers.

And avoided any receiving bank charges? Well done!

jdr Aug 3rd 2009 9:02 am

Re: Money transfers to Spain
 

Originally Posted by Hillybilly (Post 7807476)
Currencies Direct for me and never had a problem, always v helpful on the phone and quick with emails, transfers etc.


And avoided any receiving bank charges? Well done!

Lloyds to Bancopopular no receiving charges. ;-))

EsuriJohn Aug 3rd 2009 11:50 am

Re: Money transfers to Spain
 

Originally Posted by jdr (Post 7806507)
Ask your bank, we got a better and quicker deal than with any money movers.

We have just started to use Ratioanal FX we also have accounts with Caxton Moneycorp and HiFX but just now RX have given the best rates. Here is the amazing bit I bought some currency at 11.00 last Tusday morning and it was cleared ready for use in our bank in Spain at 14.00 Tuesday afternoon. HiFX are pretty quick too but not as good as this.

PS. No receiving charges either.

jgombos Aug 3rd 2009 6:06 pm

Re: Money transfers to Spain
 
Beware of the wire siphoning scam. Most FX brokers have a trick to charge you their bank fees w/out your knowledge or consent. Here's an article on how it works:

http://money.wikia.com/wiki/Legal_scam:_Wire_Siphoning

lic Aug 4th 2009 7:26 am

Re: Money transfers to Spain
 
It depends upon how much money you need to transfer!
If it is a large amount needed in one lump sum, then an money transfer service is what you need.
If it is a large sum, and you can access it over a few days/weeks, or if it is just for everyday living expenses, I would use Nationwide.co.uk
They do not charge for credit card or debit card transactions in the E.U. They also do not charge for withdrwing your money from ATMs.
They give you the Visa Corporate rate on all transactions, which is always higher than all other brokers/banks.
i have been using their flex account for a number of years now, it must have saved me a fortune!

greghal Aug 4th 2009 9:15 am

Re: Money transfers to Spain
 

Originally Posted by jgombos (Post 7809048)
Beware of the wire siphoning scam. Most FX brokers have a trick to charge you their bank fees w/out your knowledge or consent. Here's an article on how it works:

http://money.wikia.com/wiki/Legal_scam:_Wire_Siphoning

I think if you look at that article it is more to do with brokers for speculatnig on currency, ie spreadbetting companies rather than brokers who trade for deliverable currency


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