Help please currency exchange

[dizzy]

Hi all, I am hoping someone has worked out the cheapest way to send money from one currency to another. I am moving to Spain in 2 weeks (very excited) but need to be able to send money home to Australia over the coming year that we are in Spain. Has anyone got experience with this sort of thing. Many of the big banks charge between 25 - 65 AUD for an international transfer which is ok for a single lump sum but I will need to do this regularly which will make it very expensive. Does anyone have any ideas?

Thanks in Advance

[chris(madrid)]

Dizzy

IF YOU QUALIFY - there are banks here that will allow you upto "x" in international transfers FOC. There are probably some limits on Min size/transfer but worth looking at.

I use Banco Santander partially for this reason. JUST IN CASE

Normally having you salary "domiciled" in the account is normally enough.

Never used it so I'm unsure what exchange rate calculations they use though.

Do Aussie banks charge for international transfer reception? - ask how much!

If they're LARGE sums you may have to pay extra for S.W.I.F.T.too.

[jojo]

I'm an old fashioned sort who leaves all the money stuff to my husband (I just spend it LOL) however, I know he uses a company called "currency direct" to transfer money?????

Jo

[dizzy]

Thanks Jo and Chris, i will check these out. thankyou

[Stravinsky]

If you want the ability to control what you want for a one off fee of €10 per transfer then register an account with Sun-Pay - Online Global Money Transfers made Easy.
You can do it on line, as much as you like, and at commercial rates.

[malagaman2005]

Originally Posted by dizzy

Hi all, I am hoping someone has worked out the cheapest way to send money from one currency to another. I am moving to Spain in 2 weeks (very excited) but need to be able to send money home to Australia over the coming year that we are in Spain. Has anyone got experience with this sort of thing. Many of the big banks charge between 25 - 65 AUD for an international transfer which is ok for a single lump sum but I will need to do this regularly which will make it very expensive. Does anyone have any ideas?

Thanks in Advance

I have used Currencies Direct for regular monthly payments for 2 years. The rate is better than from a bank and no charges from them as it's a regular transfer.

[dizzy]

Thanks everyone for your assistance. I have also found that paypal will do the exchanges for only 1% fee and will take the money from a spanish account and put it into my australian bank account for no extra charge. I will check them all out and see which way will work best for me. Once again thanks

[chris(madrid)]

Dizzy - BE CAREFUL OF PAYPAL,

I'm member of a forum in the UK that used PAYPAL to take donations. They've shut the paypal account. PAYPAL is notorious for disappearances!.

A friend of mine here had his account HACKED and he suddenly found he was paying for things he had not bought.

Getting them to admit fault is a MAJOR hassle. Maybe OK as a stop gap. But if somebodies living depends on the money - DONT DO IT REGULARLY.

[Pasanada]

What about Western Union? Do they have branches in Spain?? Can't say I recall seeing them in Spain but with such a major international company, I would have thought they would have branches in all major cities.

As for Paypal, I wouldn't touch them if you paid me!!

[chris(madrid)]

Originally Posted by Pasanada

What about Western Union? Do they have branches in Spain??

YUP - Often in CORREOS - but they take a pretty big chunk iirc

http://www.correos.es/comun/tarifas/...ionTarifas.asp