cajam31

Almeria

Douglas jack

Banca March have a branch in London,and branches in your area in Spain,used to do a very good comercial rate for money transfers.

cajam31

Thanks for all the info everyone, gonna look into all of them, got a little while before we need the money so got a bit of time to shop around.
Thanks again.

debi

hi everybody,

i hope you don,t mind me butting in but while you,re on the subject of where to bank money we could do with some advice. When we sell our house to move over in about a year we want to put the profit (approx £60,000) into an account which will bring us a good bit of interest which we could use each month. Any advice on where to put it for the best return would be appreciated, i know we need to seek professional advice but input from you guys would be helpful aswell.


Thanks, Debi

Lionda

Take a look at this thread .....

Solbank is offering a great GBP deposit account!
MnM

Also, you could try the Halifax. We have a web saving account which pays 5% interest with no limit to withdrawals, we also have a Halifax account in Spain and can transfer the funds we need at no charge.

poollounger

Cajam, yes you have to register with any of the money changers, including HIFX. A very simple procedure, done online, but proof of ID like a utility bill has to be faxed or posted. The cash is bought (price agreed) on the phone, then you have about a week to get the money to them. They were very understanding, as we were doing it by Internet transfer and the max is £10,000 a day, so we had to pay the money in over three days. You fill in the details of the bank it's going to online, and as soon as the funds are in place, the money is sent over. The funds have to come from a UK bank account in your name to avoid any possible money laundering. There should be no charges at the Spanish end but check this. We have a forward purchase agreement to pay our mortgage, but suddenly got charged 18EU a month for the last three months. It has now stopped, and a few phone calls later HIFX have refunded the 54EU.For anything less than about £2000 I still hold that you could get a better rate via an ATM.

debi

Thanks for that Lionda, ill take a look at Halifax see wot they can offer! We just don,t want to put such an amount in the wrong place. If we can get a good monthly return on it, it will help towards renting when we first get there.

Mitzyboy

Sun-pay!!!
I've used HIFX and ITT but Sunpay is by far the easiest and the rates are similar to the big operators. The easy bit is that you do it all yourself on the internet just like internet banking, rather than having to call HIFX or whoever.

Mitzyboy

I noticed Barclays in Denia were offering 10% on amounts up to 40000 euros .... don't know what the terms and conditions are though

malagaman

According to the advert in todays paper, 10% is only for the 1st month then it reverts to 3%, not such a good deal in the end !!

Mitzyboy

If thats the case, then just a blatant attempt to get new business ...... I only saw the banner in the window

MnM

Yes, they had the small print underneath

debi

Thanks for that mitzyboy! Sounded great at first!! This is the scariest part of our planning to move over there as we really dont want to put it in the wrong place We need the biggest possible monthly return on it to make it easier out there financially, almost paying for a rental property each month hopefully!