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Transferring money from Spain

Last activity 28 January 2024 by compel

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Mark Areva

Hello everyone, I wondered if anyone could advise me on what is the most competitive spanish bank to open an account with, for regularly transferring money form Spain to the UK?


It seems that the banks can charge a percentage of the amount being transferred!


Looking forward to any advice on this please  : )


Best wishes,

Mark.

compel

@Mark AHi I have a Wise card account. Cost 5€ to set up. Really recommend it.

Mark Areva

Thanks, I'll check it out.

gwynj

Another Wise fan here. :-)

robsia

All banks have very high prices for transferring outside the Sepa area (Euro). If you are looking for convenience perhaps Western Union is cheaper but you will waste more time.

If the person receiving the money is a friend or relative you can give them a card on the same account and solve the problem. Yes. Also wise can work!

Biz in Barcelona

Trying to win against a bank. Good luck.

Mark Areva

Thanks Robisa, I am looking for advice on a regular account in Spain, not high street banks.. that has low fees and FX exchange rates. Do you have any suggestions please?  : )



Best wishes,



Mark.

sanfordpatrick

Use Wise. Coming from the US, transfers are easy, immediate, and cheap.

Mark Areva

@sanfordpatrick


Thanks Patrick : )

compel

Only thing I have found with Wise is that you have to use your IBAN to set up direct debits or payments for car assurance etc as the Wise does not have an account number.

gyoung5718

Could I ask Compel, can you set up D/D for your water and electricity in Spain from your wise account?

compel

Yes, you have to use your IBAN details to do it.

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