Paying in Euros to an IBAN ref

Urban_Bumpkin

We've booked an apartment in Spain and the which we've previously used and also has plenty of good reviews. However the owner have asked for a deposit to be payed in euro's doing some kind of bank transfer an Iban ref.

The question is what's the best way to do this as I'm guessing my bank will charge the euro conversion at their rate.

For security is there a way of paying to an IBAN number via a credit card or via paypal?

All advice greatly appreciated.

agrinnall

Using a service such as Transferwise (other options are available) will be cheaper than doing the transfer through your bank. It won't be possible to use a credit card, and I'm doubtful (but not sure) that Paypal would be possible. Normally caution would be advised when paying by transfer but as you seem to know the recipient that may be less of an issue.

eDicky

IBAN (International Bank Account Number) identifies a particular bank account, to simplify making a transfer without having to enter all the bank details.

No need to use your bank to send it, TransferWise will charge 0.5% and use the perfect mid-market rate at the moment of conversion, usually arriving the next day.

If you're not in a great hurry you can use Revolut, current interbank rate and no fee but takes a few days. Then you can order their prepaid MasterCard to use on your trip.

Actually TransferWise can be free to send up to £3,000 - I think they still give £15 credit if you sign up with a referral link from someone. PM me if you need.