Transfering Money

[AmandaR]

Good Morning,

We need to transfer our deposit for our house in the next couple of weeks and want the best exchange rate possible.

Any advice on who we should use and how long it takes to transfer.

Thanks.

[Doc]

Try GCEN (link attached). I use them to transfer money over to Spain on a monthly basis and have done so for almost two years. Very helpful and good rates.

http://www.gcen.co.uk/

Chris.

[sarah]

try currencies direct, branch in Torrevieja.

number from uk 02078130332 or link www.currenciesdirect.com

[freebird]

[Doc]

[Matchey]

i use currencies direct to payment my spanish mortage but have found that the rate they show on their website is higher that the rate they give you, this is very deceiving and i am going to contact them about it , better having the 300 euros in my pocket instead of theirs !!

am going to compare their rates with GCEN

[Cinuelica]

I've always used Moneycorp (don't have their address but Google does) what they quote is what you get. HTH

[Nige]

I use worldfirst bank http://www.worldfirst.com

[harrodene]

i dont want to confuse the issue, but i went to currencies direct's office on Friday and the lady told me the exchange rate is 1.4775 and that the benefit of using currencies directs is that beside's bankohalifax they use 14 spanish banks here that wont charge any receiving charges.Which can be quite a bit when buying a house.

[hanzando]

just a quick not in support of currencies direct. I have used them to purcase in Torrevieja and have found them to be excellent and always at the top end of the best buy tables

[AndyH]

It's worth pointing out that the rate shown on Currencies Direct site is the 'mid' price. That is the middle price between their buying and selling rate. If the mid price is 1.4750, you are likely to get about 1.46 if you want to sell sterling and buy euros. If you want to sell euros and buy sterling you'd get about 1.49. Don't forget also that the larger the amount you exchange, the better the rate you'll get.
Another thing to point out is the hidden charges some banks make for drawing up bankers drafts when you go to the notary to pay for your house. My bank tried to charge me 0.5 percent of the face value of the draft. That's 500 euros for every 100,000 euros!! If you are paying this way, make sure you have enough time to visit your bank the previous day and negotiate a fixed fee, mine eventually settled for 50 euros. Quite a difference.

[keith.t]

We used Currenciesdirect but also had account with Moneycorp. Currenciesdirect gave a better rate when I told them what Moneycorp were giving.
Also they have a lot of banks in Spain that do not charge commision for receiving funds.
Hope this helps