jay01

Having moved to Spain can anyone suggest the best company to use to transfer funds. We have set up bank accounts here and still maintain accounts in the UK but find that the rate of exchange is not brilliant when moving between accounts. We are looking to transfer a large lump sum.

I did read a thread about exchange rates and companies to use a few months back but can not seem to find it any more although I have looked and typed in key words for the search. Any constructive advice gratefully received.

missile

I would suggest http://www.hifx.co.uk/

expat2be

I have been researching the same thing in preparation for our future move and the 2 I keep coming back to (when comparing various recommendations) are http://www.hifx.co.uk/ and http://www.moneycorp.com/ although to date I have not tried either.

snikpoh

Moneycorp had 'hidden' charges although their rates used to be good.

I now use World First ( http://www.worldfirst.com/currencyoptions/) or Foreign Currencies Direct (www.currencies.co.uk).

ForHotspot

So far Moneycorp hasn't charged me anything for the 8 or so transfers they've done for me but you've to be careful. They used to absorb the fees for the receiving banks but they no longer do that. Just as well I queried them before the last few transfers.

Barclays in Quesada doesn't have any fee if the transfer is less than 50K.
50K & above, they charge 0.4%. Since Moneycorp doesn''t charge me any fee I requested that they send less than 50K & you can have all the tranfers done on the same day according to Barclays.

Veleta

I also used World First. Of all the big names I found them to be the least pushy and the most informative.

ExPatMat

Hidden charges with Moneycorp, HiFX have started using a bizarre automated service and anything below 50k has to be traded online, i've found the personal touch with Foremost Currency suits my taste as i trade regularly, well informed and non pushy. Baydon Hill and World First also reasonable but very much 'order takers', and not particularly informed.

Dxf

Hi

There are a number of UK banks that have "branches in Spain". Halifax, Barclays, Banca March and even ING direct.

If you are happy to do on-line banking then it can be better than other companies that specialise BUT and here comes the health warning, you have to check and do the running around

Davexf