Which Form?

Hi

Anyone purchasing in the mar y sol from Ireland. Trying to determine the cheapest way to wire money to spain, i.e. euro to euro. Some of the banks still appear to charge a handling fee if you don't agree a fixed rate up from, e.g. 0.5% of the amount been transferred. If anyone has agreed a rate with a bank i would be very grateful if you could tell us the name of the spanish bank

Thanks

Hi josephotoole,

I'm buying in Block 5. As far as I am aware banks cannot charge a international handling fee for inter-eurozone tranactions under €50,000. If the amount you wish to transfer is over this amount, just split the transactions so that no one transfer is over €50,000.

This website expains more

http://www.eccdublin.ie/topics/banking.html

If your Irish bank account has free banking then you will not be charged at this end. In choosing your Spanish Bank I would find out what there domestic charges are as Spanish Banks are notoriouly expensive. After some research I think I will be going with the Halifax as they have a branch in Guadamar and will have English speaking staff. I would welcome anyones elses comments or recommendations on Banks in Spain though.

Hope this is of help.

Thanks gunnerfitzy. I was looking at the halifax site where they document their handling fees -> http://www.halifax.es/halifaxing/pdf/Commission_Rates.pdf?sec=transp (Group 8 International transfer of Funds)

no bother,

In regards to the Halifax, I have read elsewhere that if you keep an average balance of €600 in your account over the year you will get 'free' banking. Free banking just means that there is no annual fee which normally depends on the type of account you hold.  Again this would be something to confirm with the bank.

Hi gunnerfitzy

Was just on to halifax in Spain, and got the following response:

Interesting Joe,

I just emailed them the following to clarify.

I would like to confirm some banking fees charged on a halifax current account.

Am I correct in saying that an international funds transfer in euro from a eurozone country up to €50,000 , to a halifax current account, where the sender bears all the fees, is free from transaction fees from halifax (where the IBAN and BIC are provided)?

EU regulations enacted last year has this limit at €50,000.  And indeed this is what is reflected in their 'commision rates' document.

€130k would indeed incur a significant charge. But I would just send a number of payments, each under the limit, until the required amount was transfered.

I'll post the reply that I received.

regards

michael

Would be very interesting to see what they reply to your mail gunnerfitzy, just for clarification i used the following address: distance@halifax.es

thanks

Joe

Hi Michael

Halifax came back with the following reply after saying to them about the EU regulation that you spotted regarding fee's for transferring money

From the 08/01/2007, what you have said in your previous email will take place. There will be no commission for receiving a transfer upto 50.000 euros as long as the IBAN number and Swift code of the beneficiary account are correctly provided.

Thanks for that

Joe

We must be starting to annoy them Joe, they just emailed me a PDF copy of of their commission charges as available on their website and told me email them if I have any questions :-D

michael