Go Back  British Expats > Living & Moving Abroad > Europe > Spain
Reload this Page >

Transferring house sale funds to uk

Transferring house sale funds to uk

Old Nov 4th 2014, 7:26 am
  #1  
BE Forum Addict
Thread Starter
 
spain's Avatar
 
Joined: Apr 2005
Location: Kent - Gandia - Kent
Posts: 2,002
spain has a reputation beyond reputespain has a reputation beyond reputespain has a reputation beyond reputespain has a reputation beyond reputespain has a reputation beyond reputespain has a reputation beyond reputespain has a reputation beyond reputespain has a reputation beyond reputespain has a reputation beyond reputespain has a reputation beyond reputespain has a reputation beyond repute
Default Transferring house sale funds to uk

Does anyone have any advice/recommendations on the best way to transfer funds from a house sale to the uk?

What's the best way to get the most ££ per €€
spain is offline  
Old Nov 4th 2014, 7:42 am
  #2  
Lost in BE Cyberspace
 
EsuriJohn's Avatar
 
Joined: Jun 2005
Location: Puente Esuri
Posts: 6,907
EsuriJohn has a reputation beyond reputeEsuriJohn has a reputation beyond reputeEsuriJohn has a reputation beyond reputeEsuriJohn has a reputation beyond reputeEsuriJohn has a reputation beyond reputeEsuriJohn has a reputation beyond reputeEsuriJohn has a reputation beyond reputeEsuriJohn has a reputation beyond reputeEsuriJohn has a reputation beyond reputeEsuriJohn has a reputation beyond reputeEsuriJohn has a reputation beyond repute
Smile Re: Transferring house sale funds to uk

Originally Posted by spain
Does anyone have any advice/recommendations on the best way to transfer funds from a house sale to the uk?

What's the best way to get the most ££ per €€
Currency Fair.
EsuriJohn is offline  
Old Nov 4th 2014, 8:19 am
  #3  
Banned
 
Joined: Feb 2011
Location: Mallorca
Posts: 19,367
amideislas has a reputation beyond reputeamideislas has a reputation beyond reputeamideislas has a reputation beyond reputeamideislas has a reputation beyond reputeamideislas has a reputation beyond reputeamideislas has a reputation beyond reputeamideislas has a reputation beyond reputeamideislas has a reputation beyond reputeamideislas has a reputation beyond reputeamideislas has a reputation beyond reputeamideislas has a reputation beyond repute
Default Re: Transferring house sale funds to uk

It's probably worth pointing out that transfers from UK banks --> abroad are extraordinarily expensive (amongst the world's most expensive). In some cases, breathtakingly so.

...but the reverse (European bank --> UK bank) is usually the opposite.

That's why precious few Europeans have ever heard of "transfer services". Most just conduct a transfer from their online banking, because, well, unlike UK banks, European banks are just a lot more familiar with international transfers and currencies, and it's a very routine operation .. and usually, just as cheap as a domestic transfer. Currency exchange-transfer services are primarily a "UK thing" for that reason. Abroad transfers from UK banks are just... expensive.

Having said that, for a large sum, you might be able to get a bit better exchange rates through a UK transfer specialist (a fraction of a point can mean 100's, if not 1000's in savings on large transfers), but beware, not all UK "transfer" services offer the best rates.

We use an FX trading platform rather than a "transfer service" because they make their money on FX trading commissions rather than commissions on transfers, which are usually free. Their exchange rates are updated by the second, and within 10ths of a point of current interbank rates.
amideislas is offline  
Old Nov 4th 2014, 9:25 am
  #4  
BE Enthusiast
 
Joined: Dec 2003
Location: Boston / Guipúzcoa
Posts: 718
Eric S has a reputation beyond reputeEric S has a reputation beyond reputeEric S has a reputation beyond reputeEric S has a reputation beyond reputeEric S has a reputation beyond reputeEric S has a reputation beyond reputeEric S has a reputation beyond reputeEric S has a reputation beyond reputeEric S has a reputation beyond reputeEric S has a reputation beyond reputeEric S has a reputation beyond repute
Default Re: Transferring house sale funds to uk

I recently used TorFX to transfer USD to Euro for a house purchase. You have to create an account. But once you do, you have an "account representative" to help you with the transfer. I was checking the rates with other FX services at the time and when I was ready to do the transfer, TorFX matched a better rate that I found on another service.

- Eric S.
Eric S is offline  
Old Nov 5th 2014, 7:09 am
  #5  
Just Joined
 
Joined: Oct 2014
Location: UK
Posts: 8
Patricia1of2 is an unknown quantity at this point
Default Re: Transferring house sale funds to uk

Currency brokers are the best way to transfer money from one currency to another. Their are a lot of them around. Get a quote from at least 3. They all seem to offer the same level of service but none of them are up front about the fee and will not commit to set charges. A great deal depends on how much you are transferring and how often. One thing you can be sure of is you will get a much much better rate than any bank will offer. As said most will assign you an account manager and they will all give you loads of expert advice, some will let you set the exchange rate you want and will do the exchange when market rate meets your chosen rate. Get on the web and do some research. There is tons of info out there.
Patricia1of2 is offline  
Old Nov 6th 2014, 2:30 am
  #6  
Senior Moment
 
Mitzyboy's Avatar
 
Joined: Jan 2006
Location: On the edge
Posts: 20,460
Mitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond repute
Default Re: Transferring house sale funds to uk

Well I'm someone who has (relatively) recently done it, having sold our property in Spain. I did a lot of research and I wanted to be in control of when the money was "changed".

I opened an account with HIFX. When the villa was sold I transferred the funds when I was ready to HIFX's Spanish bank account in euros. Then, when I wanted to make the exchamge I checked the r/ex on their site, and made the instruction. The funds were in my account in 3 days.

The beautiy of this was that it was all done on line, and all under my control very simply.

I'm sure others will have other methods, but liking to be in complete control of my funds, I found this the very best method, and also their rates were as good as anyone of the money exchange companies.
Mitzyboy is offline  
Old Nov 6th 2014, 2:37 am
  #7  
Lost in BE Cyberspace
 
Joined: Jan 2008
Posts: 41,518
Sally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond repute
Default Re: Transferring house sale funds to uk

Originally Posted by Mitzyboy
Well I'm someone who has (relatively) recently done it, having sold our property in Spain. I did a lot of research and I wanted to be in control of when the money was "changed".

I opened an account with HIFX. When the villa was sold I transferred the funds when I was ready to HIFX's Spanish bank account in euros. Then, when I wanted to make the exchamge I checked the r/ex on their site, and made the instruction. The funds were in my account in 3 days.

The beautiy of this was that it was all done on line, and all under my control very simply.

I'm sure others will have other methods, but liking to be in complete control of my funds, I found this the very best method, and also their rates were as good as anyone of the money exchange companies.

We recently did the same thing (well it was more convoluted because of difficulties on the US bank's end, but we put US $ into HIFX's $ account and then did the trade.) No problems.
Sally Redux is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Manage Preferences - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Your Privacy Choices -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.