Spanish Banks Rip Off money transfer

bmm

Trying to transfer 100k to our spanish bank account to buy a property but the spanish bank want more than 300 euro handling fee :eek: . So much for the EU currency that was suppoed to make these charges cheaper. Even though the banks in Ireland tell you that they shouldn't take any commissions in Spain (IBAN) the banks in spain have made up a new charge "handling charge" to get their "pound of flesh".:mad:

You think the Irish banks are bad the Spanish banks are 20 years behind us.

Any advice? Is there a Euro cheque that can be bought in Ireland that the spanish builder can cash in spain without making a song and dance about it?

ronbyrne2005

a bank draft should do it?

MrPudding

The bank issuing the draft charge a fee. AFAIR this is fixed to a certain amount and then a percentage after that. The draft will probably work out more expensive.

MrP

bmm

Is there a Bank Draft that is accepted Europe wide?

And if so, How much do these Bank Drafts cost?

Thanx

bounty

http://www.euro.gov.uk/crossborder.asp
http://europa.eu.int/rapid/pressReleasesAction.do?reference=MEMO/03/140&format=HTML&aged=0&language=EN&guiLanguage=en

says there the max is upto 50k from 1st jan 06

why dont you do 2 50k transfers for cheap?

and if the spaniards try and charge you, tell them they are breaking EC Regulation 2560/2001/EC on cross-border payments

you have the IBAN and BIC codes of the beneficiary account?

bmm

Thanks Bounty for steering me onto correct track, saved me hundreds.;)

Tazz T

We had the same problem. With Ryanair doing daily flights to Malaga, it's cheaper to take it yourself and make a long weekend out of it.