Sending Money Abroad

dazchief · 1 April 2005 at 12:17AM

Does anyone one know of a cheap way to send money abroad.

I have a spanish bank account (euros) and need to transfer money every month from my sterling account to my spanish account.

My bank charges £30 per transaction (costly option), and i am currently using HIFX, which has doesnt 'charge' but hits you hard with the exchange rate, so effectively, the charge is built in.

Does anyone know if offshore accounts is a viable option???

Thanks

jonesMUFCforever · 1 April 2005 at 7:17PM

Why not use Economy transfer which most banks will have. Costs are about £5 plus a few euros the spanish end.
You don't state why you want to send money every month but you could cut costs further by sending money quarterley instead of monthly for instance.
Eric

Natelle_2 · 1 April 2005 at 9:08PM

May I suggest you look at the following link we have posted previously.

http://forums.moneysavingexpert.com/showthread.html?t=33862

dazchief · 12 October 2005 at 11:21PM

thanks for the top tips

i have found smile.co.uk do transfers for £8 per transaction, and have a very good rate. So i would stay clear of the likes of HIFX and other international money transfers companies who rip you off on the exchange rate.

tug · 13 October 2005 at 9:31AM

I have a current account in Mallorca with Banca March who have branches in mainland Spain, Balearics & Canary Isles see
https://www.bancamarch.es
I also have a current account with the same bank in England see https://www.bancamarch.co.uk
As long as you have an average of £500+ in the UK account there are no charges. Transfers to the Spanish account for a minimum of £250 are free. I simply send them a fax or post my request to the Banca March branch in London and the transfer is done within a few days.
The UK bank does not have online banking but the Spanish account does.
I would recommend this bank for your purposes.

Dutchgirl_2 · 13 October 2005 at 3:05PM

Depending on the amount you want to send, you can also use Paypal, if you set up a separate account linking it to your Spanish account. I've used that without any problem and it doesn't cost anything for small amounts.

Sending Money Abroad

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