I need to top up the bank account and am coming over soon, rather than pay Barclays £15 and get ripped off with a naf exchange rate can I pay a Sterling cheque into my Spanish bank account (Banco De Valencia) ??

cheers

We have a current account and a mortgage account with Banco de Valencia and regularly pay in Sterling cheques whenever we come over to Spain .. makes sense!

I bet they charge more than 15 quid to take it though. ;-))

yes they do make a charge for taking it .. usually 7 or 8 euros ...
however, if I make a transfer from my Nationwide bank account in UK, I pay Nationwide £25 for doing the transfer plus the 7 euros at the other end to Banco de Valencia for a credit to our account... so for me it always works out much cheaper!
when it comes to paying the mortgage each month, we use Currency Direct, or whatever they call themselves at the moment!

Thanks,

I had a feeling I may have done it before, I know I paid in sterling cash years ago. 7 or 8 euros is a bargain in comparison. I to use Currencies direct and can't fault them.

Thanks again

Out of interest do you use the online banking with Banco de Valencia?. I thought I migh sign up when I go out next week.

Have to confess we don't use their online banking ... we don't tend to move money about much in Spain and BdeV send us a statement every time there is any activity on the account (e.g. direct debit payment etc), so we know exactly what is going on and how much is in there...

It may have changed, but I closed my account with Banco Valencia because they were making stupid charges to me to pay in cheques and even when I transferred in fees from abroad by internet.

I thought all/most Spanish banks charge to credit a cheque to your account ... I always seem to have to pay everyone in cash for that reason (or so they tell me)

Just check with your bank to see how long it will take for the money to be available in your account, I bank with Banca March and if I bank a sterling cheque it takes 20 days for the money to become available. As I have Banca March accounts both in Spain and UK I pay nothing to have money transfered out from UK, there was a one off payment of £35.00 when I first opened the London account.

Perhaps if you had a current account with Nationwide in the UK you could draw money in Spain on the NationWide card, at an good rate of exchange, and pay it in cash to your account whilst there, thus avoiding transaction charges. Just a thought!

Yes most do, but not all charge to pay transfers or cash in

Thanks for all that information!

I know about Banca March and their free transfer between accounts in UK and Spain as I actually work next door to their London branch iat 40 Eastcheap EC3M 1HD! At that branch they also offer a higher rate of exchange on the purchase of euros for customers who have an account with them ...

I also always draw £300 per day cash out of my Nationwide account when I am in Spain (maximum daily withdrawal), but as our villa is usually rented out to paying guests, my visits tend to be short and I am limited to the amount I can draw each day on my cash card.
Often I am only in Spain for a couple of days, making a limit of £600 which doesn't go far when I am paying the people who clean the villa between guests, pool cleaning, gardening etc.

Since our mortgage is with Banco de Valencia we are committed to having a current account with them and it is convenient to drop in a cheque for money I have received as rental payments on the villa etc, to bump up the regular mortgage payment through Currencies Direct . I don't know how long it takes to clear as I am fortunately never in a position of needing to draw on it immediately but it certainly appears on a statement in less than a week.

One day, when we have time, we will have to look into remortgaging with a 'cheaper' bank, but at the moment, time is what we value most.

I also always draw £300 per day cash out of my Nationwide account when I am in Spain (maximum daily withdrawal), but as our villa is usually rented out to paying guests, my visits tend to be short and I am limited to the amount I can draw each day on my cash card.
Often I am only in Spain for a couple of days, making a limit of £600

If you are married, does your wife have a card, if so can you withdraw £600 a day, £300 on each card? Will the bank up your limit of withdrawals?

It is Mrs Noelrosie writing. I often go out to Spain on my own to sort out small problems which have cropped up, as Mr Noelrosie has a very demanding job and doesn't take much holiday ... so only £300 per day I'm afraid, and Nationwide refuse to increase our withdrawals when abroad as it represents a 'security risk' apparently...
But I advise all the guests who rent our villa that the cheapest/safest way of obtaining euros, is to draw them out of a 'hole in the wall' whilst they are out in Spain rather than arriving at Alicante/Valencia airport with a whole lot of 'spending money' for their trip bought before they leave the UK!