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Transferring monies into Spain. Which way forward?

Financial Law

Antonio Flores Vila

1st of June 2000

Q. Can I pay for my property in Spain by tranferring euros from my euros account in the UK to Spain, or should I pay by tranferring stirling into a Spanish Bank Account to be exchanged into euros

Anonymous

    A. You can transfer euros or sterling into an accont in pesetas or an account in sterling. It is not matter of what is allowed but a monetary issue: Who will give a better rate, the UK or the Spanish bank. In my experience investors send the money in sterling which are exchanged into pesetas once they hit Spain.

    Spanish banks are more interested in pounds than UK banks are in euros, so do what every on does and wire down your pounds.



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