Currency Exchange and International Money Transfers
Moving money between countries can be one of those things you don’t think too much about until you see how much the exchange rate and fees can actually affect the amount you receive.
If you’re sending money to Spain, moving money back to the UK, buying a property, paying a Spanish mortgage or simply transferring money on a regular basis, it’s worth looking beyond the standard rates offered by your bank.
That’s why TheCostas.es has teamed up with Currencies Direct, a specialist in international money transfers, to give our readers another option when moving money between currencies.
A different option to using your bank
Banks are an obvious choice when you need to transfer money overseas, but they aren’t always the most competitive option. Even a small difference in the exchange rate can make a noticeable difference when you’re transferring a large amount.
Currencies Direct specialises in international currency transfers, offering competitive exchange rates and no transfer fees on most transfers. They have been helping customers move money internationally since 1996 and are authorised by the Bank of Spain to operate in Spain.
The important thing is that you can see the rate you’re being offered before agreeing to the transfer, so you can make a decision based on how much money will actually arrive.
Why might you use Currencies Direct?
There are plenty of reasons people living in Spain need to move money internationally. It could be a one-off payment for a property or something as simple as transferring money each month to cover your expenses.
Currencies Direct offers:
- Competitive exchange rates to help you get more from your money
- No transfer fees on most transfers
- Support from currency specialists who can help you understand your options
- Online and app-based transfers, allowing you to manage your money when it suits you
- Rate alerts, so you can keep an eye on the exchange rate you’re looking for
- The option to fix or target a rate rather than simply accepting whatever the rate happens to be on the day
- 20+ branches across Spain if you prefer to speak to someone face to face
- Bank of Spain authorisation, giving you the reassurance of using a regulated provider in Spain
Buying or selling a property in Spain?
Property purchases are one of the situations where the exchange rate can become particularly important.
If you’re bringing money from another country to buy a home in Spain, even a relatively small change in the exchange rate can make a significant difference when you’re transferring a large amount.
The same applies when selling a property and transferring the proceeds back home.
Currencies Direct has a service specifically for larger international transfers and provides customers with a personal account manager who can offer support throughout the process.
You can also agree a rate once you’re happy with it, rather than leaving the transfer exposed to further movements in the exchange rate.
Regular transfers to Spain
Not everyone is moving hundreds of thousands of euros. You might simply need to send money to Spain every month to pay your mortgage, cover living costs or manage your finances between two countries.
Currencies Direct allows customers to set up regular transfers, including automated monthly or quarterly payments. You can also use rate alerts and, in some circumstances, fix a rate for a future period, which can make budgeting a little easier.
You don't have to do everything online
One of the useful things about having a currency specialist in Spain is that you’re not limited to an app or website if you’d rather speak to somebody.
Currencies Direct has more than 20 branches across Spain, alongside its online service, mobile app and telephone support.
So whether you’re comfortable arranging everything online or would rather sit down and talk through a transfer, there are different ways of doing it.
Is it worth comparing your options?
If you’re transferring a relatively small amount, the difference between providers may not seem particularly important. But if you’re moving a large amount of money, the exchange rate deserves a closer look.
For example, when transferring tens of thousands of pounds or euros, a small movement in the exchange rate can add up to a sizeable difference. It’s therefore worth checking what different providers would actually give you before deciding where to make the transfer.
Currencies Direct offers free registration, so you can check the available rates and see what your transfer would look like before deciding whether to go ahead.
Get a currency transfer quote
If you’re planning to move money to or from Spain, buying or selling a property, or simply looking for an alternative to your bank, it could be worth comparing what you would receive.
Get a free, no-obligation quote from Currencies Direct and see how much your money could be worth before you make the transfer.