SoJohn

Ello all,

Right then. Someone here (I forget who) recommended the Halifax to me for an account. I should point out, I only intend for it to be a short term purpose to cover me for the first few months. Also, I already had a Halifax UK account and I think this was a factor in the application.

Step 1. Conacted European Operations Dep. in the UK on 0845 600 3603 . They said they would send me an application form out.

Step 2. After a few days I receive the application form and proceed to fill it in. Have to enter my passport number and tick and sign a form to say I'm still a UK tax resident (can switch to resident later). On the form there was also an option for selecting as a resident. You are also given instructions on depositing your 600 Euros opening balance into a holding account.

Step 3. Had to go to my local branch with my passport and a utility bill. They photocopy them and then "certify" it. Basically they stamp it and the person dealing with it writes some stuff on and signs. Send back to Halifax in the envelope provided, along with the application form.

Step 4. Received a letter from Halifax UK saying they received my application and they have forwarded it onto the branch I selected in Spain ( I selected Madrid). The account should be processed within 10 days and my card and cheque book will be sent out to my UK address.

Quite a simple process really. Hopefully nothing goes wrong!

Bri and Katee

We received the forms from the Halifax a while ago, and whilst not processing them just yet (probably next month) it is as you say, very simple to do.

Bank transfers from here (UK Halifax) to there ( Spain Halifax) are totally free as long as you keep 600euros in the spain account, It takes about 10-14 days for the whole process to be over with, the 600 euros is placed into a holding account until the true account is set up, you cannot go forward with the set up process until you have the 600 euros in the holding account.


Just add that this is the ideal way for pensionable aged people to receive money in Spain without charges, tha is why we are doing so, just have your UK pension paid into UK Halifax and then set up a monthly transfer and have it moved to Spain free of charge, this is what we are looking at right now

Dxf

Hi Bri and Katee,

Please keep us informed as to how easy to set up and if the automatic transfer works OK. I have used Halifax in the UK & Spain (Seville) for the last five years, and have been very happy with the process, but I get a pension soon, so having never used an automatic transfer I hope to learn from your experiences

Dave

rugbymatt

That's great.

billgates

It may be "free" to transfer money from uk to Spain, but what exchange rate do they use?
Surely they will make something on that, otherwise what's in it for the Halifax?

There are a number of companies that offer "free" transfers and there are a number of companies that offer transfers at a very good exchange rate and charge a small amount for the trouble.

Surely until you know the actual exchange rate you cannot say for definite whether the Halifax offers the best deal. Or am I missing something?

Dxf

Yes Bill Gates, you are missing something !!! If you need to transfer money on a regular basis, then you need consistency. Halifax gives a good interbank rate to its customers. You can get hold of your money wherever in the world you are in local currency. They call it "transparancy" meaning the world is their bank! Yes occasionally you will find rates that look wonderful - but for how long? A regular pension transfer needs to be simple and transparent, so you know each month if you have been ripped off.
Dave

billgates

But there are loads of companies that offer the same service.

I have a regular monthly transfer with Currencies Direct that do a very good exchange rate. They don't charge any extra transfer fee either. Cash is transfered from my uk Co-op account into my Spanish Caja Rural account. I can also choose which bank I want to use in Spain. Does using the Halifax service mean you are tied to the Halifax in Spain?

Nige

billgates didn't become one of the richest men in the world for nothing - you know.
I think you choose your bank depending on the service they give you and the ease of access etc.What may be good for one person is no good for another. Personally I would prefer my bank in Spain to have an office close to my residence. I do not want to rely on phoning someone if there is any query. I want to go and see someone in the flesh !
Halifax Espana do have branches dotted around Spain but not in every convenient area.

SoJohn

Indeed, They don't have a branch anywhere near where I'm going. It will be convenient for the first few months as I'm not retired and need my salary.

billgates

If the Halifax don't have a branch anywhere near you then why use them?

Surely much simpler to open an account with your local bank in Spain and have your salary transfered from a uk bank straight into your Spanish one.

Like I said, there are a number of companies that offer "free" currency transfers and for regular monthly transfers you can get a favourable exchange rate.

I'm not retired either and also have my salary automatically transfered every month. I know how much to expect every month, give or take a few euros depending on the current exhange rate, and the money is there usually on the same day of the month, every month. Hassle free.

SoJohn

My salary will be paid into my Spanish account, that's why I wanted an account active before I moved..

Going with the Halifax was the easiest way of getting an account active.

Mitzyboy

so whats the halifax rate for the euro today?
Sunpay is 1.4506, and ITT and HIFX are usually slightly better than that

jo-ann

Pensions paid from the UK directly into a spanish bank account do not have any charges, we have our state pensions paid monthly and 2 private pension paid annualy into Unicaja and we have never had any charges associated with them.

Mitzyboy

Yes but what rate of exchange are you getting?

Bri and Katee

Currently as we are not yet retired we transfer money to our Spainsh bank (Banesto) through the finance transfer company known as Custom House.

Custom House do not charge for doing the transfer and give you the buisness rate of transfer on that day. Banesto do not charge for receiving funds from within the EEC. All sounds good?

So how come we have charges of nearly 360euros racked up since last December? they are all at the Banesto end and yet petitions to the bank manager both by us and two people in Spain who are very fluent in Spanish (one actually banks at the same branch!) have not been able to elicit a reasonable reply from Banesto!


This is the reason we are transferring over to Halifax, every time we have paid money in to Banesto from the UK or indeed, paid a bill in Spain, they have levied a charge anywhere from a few euro's up to 60 euro's when they received the bulk of our mortgage deposit!