Transfering money

[johncar54]

This is reminder of a post I made some months ago, and as I did it yesterday, it still works.

I have a UK Nationwide Debit account

My wife and my son each have an account with a Spanish bank.

Yesterday, at the counter of the Spanish bank, using my debit card, I drew/deposited in my wife's account and my son's account, 1,000 euros and 600 euros from my Nationwide account.

No charge at the Spanish bank and no charge at Nationwide.

I got 1.1742 euros to the pound. The inter-bank rate was 1.18. The bureau de change locally was 1.13, thus, if I had made a cash transaction pounds to euros, I saved around 70 euros

This is by far the quickest (immediate) and most efficient way to transfer money.

I cannot see any reason why the transfer could not have been to a bank in Phil, nor why I could not have taken cash over the counter, as the transaction was to draw the cash and then make the deposit.

I do not have an account at the Spanish bank.

Of course the amount also considerably exceeded my daily limit when using an ATM.

Hope this is helpful to some of you guys.

[trader dave]

i used my nationwide dedit card in the phils at xmas and again in june got a very favourable exchange rate AND STILL NO CHARGE

[Arthur Little]

I have a UK Nationwide Debit account

My wife and my son each have an account with a Spanish bank.

Yesterday, at the counter of the Spanish bank, using my debit card, I drew/deposited in my wife's account and my son's account, 1,000 euros and 600 euros from my Nationwide account.

No charge at the Spanish bank and no charge at Nationwide.

I got 1.1742 euros to the pound. The inter-bank rate was 1.18. The bureau de change locally was 1.13, thus, if I had made a cash transaction pounds to euros, I saved around 70 euros

This is by far the quickest (immediate) and most efficient way to transfer money.

Hope this is helpful to some of you guys.

Handy to know, John! Thanks.

[ivybridge]

To remit to Philippines from UK we use PNB Europe.
We have an account and you can remit online so its easy.
£5 to send any amount.