Hi,
There are people on here who are much better informed on transferring between Spain and the UK but in the meantime until one of them comes along I'll just relate my experience of May 2008 when I repatriated some funds.
After settling on a favourable exchange rate with Currencies Direct who also quoted a 'no fees' transaction I contacted my bank 'Cajasur' to arrange the transfer. A sum of Euros 165K.
I initially telephoned my contact at Cajasur with my instructions and he told me that in addition to an email he would require my signed, written instructions for a transfer of this size.
I did not ask Cajasur about a possible charge because ,silly me, I did not expect one. Currencies Direct told me the transaction was a 'no fee' one, and explained in some detail the procedure, not once did they mention Cajasur would apply charges.
I contacted UPS to collect my instruction and was assured there would be a next day delivery of the letter at my Cajasur branch in Fuengirola.
I then emailed Currencies Direct with my signed contract .This was on the Tuesday morning and the deal was to go through on the Friday.
I tracked my letter with UPS and it arrived at ten minutes to two the next day,Wednesday. Cajasur refused to take delivery because they said it was too late and there was no-one to sign for it. They were told to come back the following day.
It was delivered Thursday.
On Friday I tracked my transaction on Currencies Direct. Nothing happened. It was a week later after many stressful calls to Cajasur during which they professed to :-
1. Not understand and put down the phone.
2. Not understand the request :- 'Snr Angel XXXXXXXX por favor' and put down the phone.
3. Not speak English and put down the phone.
4. Ask me to wait with 'una minuta' and after twenty minutes of waiting the phone went dead.
5. Help by put tingan English speaking colleague on the phone. He tells me my contact no longer works there and after what seems like an age says he can find no trace of my transaction either, but that he would try and sort it out.
Twelve working days late my funds arrived in England and I had been charged Euros 800 plus by Cajasur.
I was shocked and immediately went to Cajasurs' website to find out how the charge had been calculated. Imagine my dismay when I realised that had I transferred the money in batches of Euros 50K I would not have been charged one cent by the bank!
I wrote and complained but to no avail they simply did not see it any of their concern that I had not been told of any charges or alternative (cheaper) methods of transferring the money. Obviously I initially thought that I had been taken for a ride due to my lack of Spanish, but I think the real problem is the staffs lack of training, low wages and overall lack of interest or pride in doing a decent job.
Sorry if this turned into a rant but if it helps you maybe I'm forgiven.
This message was last edited by sandra on 15/09/2009.