11 Feb 2007 1:11 PM:
Hi There all.
I have done a number of transfers from Ireland to spain in the last year and I have been ripped off by the Spanish bank on every occasion. We used A.I B bank Ireland and they were brilliant and only charged us approx 10 euro to transfer the money , but the receiving bank in Spain , which is where we have our account (B.b.V.A) took hundreds of euro out of the money we sent , I think it was 400 euro they charged us.
I have been in touch with the regulators both in Ireland and Spain and the rule regarding the 50,000 does not apply to the Spanish banks. I have checked it out and even though a Spanish bank is according to E.U regulations to charge only the same ammount to accept/transfer money from another E.U country the same as it would for a domestic transfer it does not work out like that. According to the small print the bank in spain charges a % to its domestic customers and so it is by this means that they are able to charge a % also of the money you transfer.
We have added up the cost to transfer money From Ireland to Spain and the Irish A.i.B , who were brilliant anly charged us in total approx 30 euro while the Spanish
B.B.v.A charged us in the region of approx 1,000 in transfer fees for the same ammount and we may as well be knocking our head against the wall trying to justify it.
The Spanish banks , well I can only speak for our one anyway ! will try and squeeze any euro out of you that they can and any E.U regulation will be avoided by way of small print.... well that is my opinion and experience anyway!!
Good luck to anyone transferring money there!!
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