Tenerife forum

[bunnygirl33]

hi everyone...just wondering if any of you who need to get money from uk to tenerife regular if theres a way of avoiding the charges to transfer?if i change less than £2,000 than they charge £20 each time...and it soon adds up! many thanks guys....x

[karlb]

Simple have a uk account that does not charge you for making withdrawals abroad.
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[rob]

[jenny]

I know here that if you have a special account (Cuentas Claras) with BBVA you can transfer a certain amount of money per month to UK but not sure if any banks in UK have a similar system.
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[bunnygirl33]

thanks guys...will look into your suggestions!

[rob]

Most high st banks offering 'free' transfers etc give a very poor exchange rate so earn their money that way.
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[bunnygirl33]

yes i know...theres always a catch hey....! :O(

[leahcim]

If you want to transfer small amounts of money abroad and change from sterling to euros most high street banks rob you, I had a santander account that cost 65 euro a year to keep open, for that I got a translation service, internet service, emergency help etc but if I transferred money from a UK abbey account (same bank) they wanted to charge £35 per transaction. If I transferred from my Halifax account to Santander I was charged about £15.
The Halifax have recently opened a branch in Adeje and I think another in Arona . If you open a account in the uk with the RBS or Halifax and another with Banco Halifax Hispania you can move any amount of money either way between the UK and the reef for free as an internal transfer. The exchange rate will be the tourist rate (the saim as a travel agent or post office) for small amounts but gets cheaper the more you move. I think the basic Spanish account is free to open, the account with translation service etc is 25€ a year. The Internet site is in English and they all speak English in the branch and on the help line.
Rob was right in what he said, for regular amounts for a mortgage etc, or for larger amounts don’t use the high street use a specialist company.
On a property purchase you can save thousands of pounds by just avoiding your local bank.

[bunnygirl33]

thank you again..very useful infomation..i was thinking of opening an account with halifax but i heard they shouldnt be touched with a barge pole!! but also i have my mortgage with lacaixa bank...so even if i can transfer for free..i would then have to get that money from halifax into lacaixa....never simple!!

[leahcim]

Hi bunny
All my Direct Debits were setup in my santander account you just go to your online account and send it from the Halifax to Santander at a cost of 1 euro charged by Santander to deposit money, Santander also charge 1€ every time a direct debit went out or i drew money out, Halifax charged nothing for these.
If you dont trust the Halifax you could open an account in both countrys and just use them for transferring money and never leaving more than a couple of pounds in both accounts, a bit like opening a Nationwide flex account in the uk to only use it to draw money out abroud from cash machines because it is one of the only accounts not to charge for this.

[bunnygirl33]

ooo u clever sausage!