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Go Back   Pollensa Forum > LIVING & WORKING IN POLLENSA > Living & Working in the Pollensa Area

Living & Working in the Pollensa Area This forum is for any comments, questions and advice about living (permanently or temporarily) and working in the Pollensa area. Aimed at ex-pats, property owners etc.

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  #1  
Old 17-02-2017, 09:01
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Default Tranfering money to Spanish accounts

I finf it's quite difficult to know the best/cheapest way to send money to my account. I have an account with Sabadell and transfer money in Euros from my Barclays bank. Although Barclays only charge 5 and there is no charge in Mallorca, one suspects that the exchange rate is very low.
Anyone got any tips on getting a better deal?
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Old 17-02-2017, 09:27
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Quote:
Originally Posted by mallorcaboy View Post
I finf it's quite difficult to know the best/cheapest way to send money to my account. I have an account with Sabadell and transfer money in Euros from my Barclays bank. Although Barclays only charge 5 and there is no charge in Mallorca, one suspects that the exchange rate is very low.
Anyone got any tips on getting a better deal?
I did a good look round checking all the companies including Moneycorp, Travelex and others. Others may have other suggestions but I found Virgin Money (who use World Money First) to offer best exchange rate and no fees.
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Old 17-02-2017, 10:30
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I use Smart Currency - no fees and better rates than the banks
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  #4  
Old 17-02-2017, 10:33
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I transfer money every month from my account with HSBC in the U.K to Sabadell using Transferwise. They use mid market rates and the fees are very reasonable.
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Old 17-02-2017, 19:10
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We use HiFX - far better rate than the banks. We send a regular amount over - for regular amounts, there is no charge and the rate is better than average bank rates. For lump sums, no charge for amounts over 5000 and the rate is better than the regular transfer rate.
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Old 18-02-2017, 08:28
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Thanks people
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Old 18-02-2017, 18:27
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Hifex too for me. Super reliable.
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Old 18-02-2017, 18:56
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Just opened an account with Hifex. I think I'll transfer an amount through them and my bank at the same time and see how they compare. Thanks
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Old 19-02-2017, 12:17
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Just for info, I have just got quotes for a 10,000 transfer this is the exchange rates offered:

Hifex - €1.1606
Money Corp - €1.1305
Virgin - €1.1695
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Old 25-02-2017, 19:15
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Transferwise is excellent - safe, great rates and very quick.
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Old 26-02-2017, 02:17
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You can also use HiFx via John Lewis money
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Old 26-02-2017, 20:58
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Quote:
Originally Posted by Bircho View Post
Just for info, I have just got quotes for a 10,000 transfer this is the exchange rates offered:

Hifex - 1.1606
Money Corp - 1.1305
Virgin - 1.1695
Is my maths wrong? This looks like a differnce of 890 on a transfer of 10,000
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Old 27-02-2017, 09:16
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Quote:
Originally Posted by mallorcaboy View Post
Is my maths wrong? This looks like a differnce of 890 on a transfer of 10,000
Nope you are correct

Just a few cents makes a huge difference on those sorts of amounts. You know how they make their money now!
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Old 27-02-2017, 10:18
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I use TransferWise, always super fast and efficient, good rates too - 1.18.4 last week
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Old 27-02-2017, 11:15
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Quote:
Originally Posted by Family Ordonez View Post
I use TransferWise, always super fast and efficient, good rates too - 1.18.4 last week
Rate for last week was running at above 1.18 for most of the week. At one stage midweek if you had timed it right you may have got just under 1.19.

Suggestion - if you need to get money across do it before the end of March - bit of profit taking going on at moment ahead of Clause 50 being enacted.
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