Moneycorp

missile

I am selling a property in spain and will receive a draft for 191,260 euros after deduction of tax on Friday.

Has anyone used Moneycorp Foreign exchange solution via Cajamurcia? See here> http://www.moneycorp.com/global/PDF/CFX1533_Step_By_Step_Guide_Cajamurcia.pdf

Looks like a good deal to me:j

jonesMUFCforever

Do you have to have a cheque? Can you not have the money sent electronically?

There are several threads on these boards about it taking a long time to receive cleared funds when cheques are used.

missile

jonesMUFCforever wrote: »

Do you have to have a cheque? Can you not have the money sent electronically?

There are several threads on these boards about it taking a long time to receive cleared funds when cheques are used.

Nothing is ever easy in Spain.

Legal property transactions are done in front of a notary and he has to verify funds. A bankers draft is the usual way that this is done. Bankers drafts can take three days to clear.

Apparently, one of the advantages of the Moneycorp service is this is arranged in advance and one does not have to wait for the funds to clear.

rockitup

When you actually come to make the FX transaction, make sure to try and get a better rate than that offered by Moneycorp or whoever you choose to use. This should be easy enough to do with a decent sized amount of money like you are dealing with here.

It should be simple enough to make a couple of hundred quid extra on the transaction if you can find a website showing up-to-the-second live spot rates to compare. Then just tell the broker you are looking to obtain 1.xxxxxx instead of the rate they first offer you.