Transfer of large sum Spain to UK

treeweegie

Hi

My sisters and I have recently sold our house in Spain, and need to transfer the money back to the UK within the next 3 weeks. I have bought a flat here in the UK which I need the money for. Santander say they can only transfer €6000 online; it seems that to move the rest would require one of us to go to Spain and physically withdraw the money. Is there a way around this which won't cost lots and lots in charges? We are planning to use Moneycorp, but will consider any other options. What's the most economical way to do this quickly?

Thanks,

Treeweegie

dgtazzman

I've used TorFX and HiFX for large sums previously, without issue. Worked out cheaper than using my bank...

Thrugelmir

If you went to the branch in person why couldn't you then arrange a transfer?

Riggyman

Bundles of cash in a suitcase, simples.

davidmcn

Riggyman wrote: »

Bundles of cash in a suitcase, simples.

...speaking of which, the OP should also check with their solicitor what their anti-money-laundering requirements involve (at a bare minimum, nobody transfering funds in cash at any point!). Will also probably need a paper trail for all bank transfers, and ID for the sisters.

Ricardo1980

Riggyman wrote: »

Bundles of cash in a suitcase, simples.

I wouldn't do that, it is risky.
Apart from that, you cannot go outside Spain with 10.000 euros in cash (or more) unless you fill some special forms for Hacienda (like HM Revenue & Customs).

How to do it? I don't know exactly, but be careful, there are different limits and procedures. Read for example EHA/1439/2006
You should really get professional advice.

ERICS_MUM

Is the money in a Euro account with a Spanish bank ? If so they could do an electronic transfer for you. The exchange rate wouldn't be the best and there is a fee, but it's the quickest and safest way to move the money.

You do need to address any money laundering requirements.

Ricardo1980

Check also transferwise in order to save exchange rates, but no idea if it works for high amounts of money.

Carlos_Danger

I have used TransferWise for a transfer of about 50000 euros from another EU country to the UK, had no problems at all at either end. So you could look into that, but like others have said, talk to your solicitor about what paperwork you need to have in place.