Living abroad tips and hints for money savers

angelil

It's true that these attitudes aren't necessarily limited to France. And no country is perfect, of course - when we choose to move, we're essentially just trading one set of pros and cons for another.

France's casual sexism is something that occasionally rears its head to bother me though. Case in point: I still use my passport in my maiden name, with a copy of my (French) marriage certificate in the back, as when I got married it still had five years left to run and I'm cheap Normally never a problem when picking up parcels from the post office for example, but I was absolutely shocked to be told one day that I should have brought my husband with me :eek:

gallygirl

Oh, bit of tumbleweed blowing through here!

Looking for a bit of general advice, nothing imminent but can't stop planning/scheming :T.

Hoping to move to Spain semi-permanently in the next few years. What is the best way to transfer money over in bits and pieces? Although we will have savings we'll be living off rental income and a pension so money will probably be coming in a few times during the month. Let's say 2 - 2.5k a month?

When we go at the moment we withdraw cash with Halifax Clarity and also use it for buying things. I could be ultra-organised and do lots of online transfers so we paid minimal interest on the cash withdrawals but it's a bit of a faff to do that so looking for an easier way.

Are there any UK banks that will do free transfers? Also are most banks relaxed about you moving overseas and retaining UK accounts (I know there are tax implications and problems opening new accounts, just thinking of existing ones).

Thanks.

seven-day-weekend

Co-op Bank used to charge me £8 a go. We just used to transfer as and when.

We had no problem with keeping the bank accounts, nor with registering them to our Spanish address. The only 'difficulty' is if you have an ISA then you can keep it open and receive interest, but can't add to it whilst you are abroad.

Biggles

gallygirl wrote: »

What is the best way to transfer money over in bits and pieces? Although we will have savings we'll be living off rental income and a pension so money will probably be coming in a few times during the month. Let's say 2 - 2.5k a month?

When we go at the moment we withdraw cash with Halifax Clarity and also use it for buying things. I could be ultra-organised and do lots of online transfers so we paid minimal interest on the cash withdrawals but it's a bit of a faff to do that so looking for an easier way.

It is a little bit of a faff but, as long as you are reasonably organised, it's probably the best bet, as long as you have online banking.

Draw out every few days, then transfer funds from your bank soon afterwards to avoid too much interest.

seven-day-weekend

Yes...online banking essential!

gallygirl

Just looked and it seems there is a £500 a day limit so wouldn't be too onerous. Depends whether I want to use Spanish account as main one, so needing to deposit in there, or use UK one and Clarity card. Whatever, I'll need a new spreadsheet .

donny-gal

We spend half time out here and half back in the UK. You will need your Direct Debits, Electric Water, Suma, Community Charges (if applicable) set up in a Spanish Bank Not much to pick between them they all charge a fortune compared to the UK. Halifax (now LLoyds out here and soon to be Sabadell) do not charge for transfers but their exchange rates are carp. I have an old Santander Zero Current account, which lets me draw out here FOC with a decent exchange rate so if possible I top up when here. I also use the Credit Card for most transactions and pay it in the UK, again Santander Zero (not available for new accounts), Halifax Clarity, Post Office and Saga are FOC I beleive, certainly the first 3 which I have. Usually limited to 300€ a day per card, for cash on the debit card, most machines limit this. Watch which machine you use, some charge, and always be charged in Euros as better rate than the banks out here offer. Regular transfers, well there is currently a pensioners account, (mainly aimed at residents) which then do not charge as much. It used to be cheaper for residents to be taxed out here, but with the credit crunch, tax rates gone up a lot. You get on line banking out here too, but for a debit charge there is an annual charge. They do not have automatic texts for high or low balances as we have in the UK. Also check out Moneycorp and Currencies Direct.
DG

gallygirl

Thanks DG. We have a place already so have an account with Sabadell. Charges are v low at present as few DD's and they are small amounts - that will change though. Good to know about all the options. We used Currencies Direct when we bought - we could consider that I suppose and transfer over a decent chunk at a time.

Obviously what I'd like is a UK bank to transfer at the commercial rate with no charges . Maybe someone will start doing it :rotfl:.

It's hardly the end of the world having to withdraw cash and then deposit in another bank. Nice to be faced with such a first world problem

donny-gal

I suppose I am being a bit unfair, the charges are not horrendous, I am just used to none. Having to pay to have a Debit Card even if not used, etc.,
DG

traineepensioner

"Oh, bit of tumbleweed blowing through here!

Looking for a bit of general advice, nothing imminent but can't stop planning/scheming .

Hoping to move to Spain semi-permanently in the next few years. What is the best way to transfer money over in bits and pieces? Although we will have savings we'll be living off rental income and a pension so money will probably be coming in a few times during the month. Let's say 2 - 2.5k a month?

When we go at the moment we withdraw cash with Halifax Clarity and also use it for buying things. I could be ultra-organised and do lots of online transfers so we paid minimal interest on the cash withdrawals but it's a bit of a faff to do that so looking for an easier way.

Are there any UK banks that will do free transfers? Also are most banks relaxed about you moving overseas and retaining UK accounts (I know there are tax implications and problems opening new accounts, just thinking of existing ones).

Thanks."

I would look at opening a Santander 123 account while you're still in the UK..... 3% interest on balances up to £20,000 and free cash withdrawals from Santander branches in mainland Spain. We do it and it works well. You can manage the account online while in Spain.