Transferring money back to the UK

[Lil]

Does anyone have any advice on the best way to transfer money back to the UK. I am in the process of selling a property and not sure if the best option is to transfer through the bank (cajamurcia) or use a foreign currency broker. Thanks

[CherieB]

Lucky you, who did you sell your property with Lil, pm I guess please. I think on balance you will get a better deal with a broker...pm Dunedin...he is very hot on this sort of topic.

[Dunedin]

Does anyone have any advice on the best way to transfer money back to the UK. I am in the process of selling a property and not sure if the best option is to transfer through the bank (cajamurcia) or use a foreign currency broker. Thanks

2 options come to mind.
A) Shop around to get the best commercial rate from a currency transfer specialist, as some will not make a commission charge or handling charge depending on the rate they offer. You could try Moneycorp as they are one of the most reputable and have been doing it for many years. My Brother who is an accountant, shopped around when transferring a large sum of money to France and they offered the best deal.

B) You could talk to Santander, Spains biggest bank, also now with the largest number of bank branches in the UK, since their acquisition in the UK of thousands of local high street banks. I imagine they may do it for free and in the right account will be making between 2.9% and 6% depending on the account it is placed in and the length of time you are prepared to tie it up for. Also from the minute it is transferred it will be making interest. They are also offering 0% mortgages to existing customers, which you will be when your feet are placed on UK ground.

[Lil]

Thanks very much for your advice.

[Kaz]

I can certainly vouch for Moneycorp - we use them to transfer money to Spain so I dont see why they wouldnt be as good transferring money to the UK. Not sure about Santander - we have an account with them in the UK and in Spain and its not as simple as it ought to be trying to transfer money between accounts so we stick with Moneycorp. Santanders loss methinks!