Sending Money For Buying A Property In Spain

If exchange rates are good, sending money for buying a property in Spain can end up working out in your favour, and even save you thousands. There are many costs associated with buying a property in Spain, but every payment you make from overseas will see you sending money through some sort of bank or wire transfer.

Most people will just send it direct from their bank. DON’T DO THAT!!

Banks are notorious for giving you a really bad rate. When compared with a dedicated currency specialist they just can’t match the rates, or the fees. Why? Usually because a specialist service is just what it says. SPECIALIST.

They constantly monitor the currency market and they buy huge amounts of currency in bulk, and are able to send money with zero fees. If you are sending money for buying a property in Spain, or any other country, it’s more than likely you are sending several thousand, if not tens of thousands at a time.

Even just a half a percent, here and there in the rate, can work out to be thousands in money saved.

For instance, say you were sending £10,000 to Spain, and the rate your bank quoted is 1.4225. That means you will send €14,225. Plus a hefty fee for you bank to send it.

Even if a currency specialist quoted 1.445 you are saving 225 Euros, plus zero fees for sending it, which works out around £200. This will soon add up when you’re sending £30,000, £40,000 or more. You would end up saving thousands on large transactions.

Our Top Recommendation.

There are many specialist companies around, who are FCA authourised, and have excellent customer feedback, but none compare to TorFX. For several years now they have been a market leader in currency exchange and money transfers.

They offer ZERO fees, and also bank beating exchange rates. It really pays to shop around before you go sending your money to Spain through your bank. Take 5 minutes now to open a free account, or get an instant quote, and you’ll soon see how much better off you’ll be.

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