Torrevieja Forum

[Bill Posters]

Occasionally using Sabadell where I have an account to draw money from my UK bank account I am given the option of having my UK account debited in € or £. Does one present an advantage over the other for those living in Spain? Do I choose sterling or Euros? Cheers, Bill.

[cyclemad]

Always, always use euros. Usually the bank´s fixed exchange rate is most unfavourable, whereas Visa and MasterCard euros to GBP are more favourable.

[freddo]

Much better to use Transferwise

[Conrad]

Think the OP is talking about atm withdrawals Freddo

[pete evans]

Best ATM is Santander. As long as your money is in santander UK there are no fees or commission. Problem is not many Santander ATMs. Still chose euros.

[pete evans]

Best ATM is Santander. As long as your money is in santander UK there are no fees or commission. Problem is not many Santander ATMs. Still chose euros.

[Rick]

Slightly off topic but I have just opened a Starling bank account on-line and am really impressed.
You pay in in sterling - all on-line using a really intuitive app and features include free withdrawals abroad (except where bank levies a charge) but at the commercial (MasterCard) rate rather than tourist rate, free contactless and pin debit card transactions also at commercial rate. Also ability to instantly turn card on and off (for security purposes) using the app.
I was in Spain last week and where Caxton rate was 1.09, I got 200 Euro for £177.46 which equates to 1.126.
You get an instant notification each time you conduct a transaction which also provides you with the reassurance that card is being used legitimately.
Try it, you won’t be disappointed! Can all be set up on-line (photograph passport/driving license).
You even get interest credited to account every month.
See: https://www.starlingbank.com

[PeteKnight]

Occasionally using Sabadell where I have an account to draw money from my UK bank account I am given the option of having my UK account debited in € or £. Does one present an advantage over the other for those living in Spain? Do I choose sterling or Euros? Cheers, Bill.

Here’s what Martin Lewis, the guru of all things financial, says about this:
https://blog.moneysavingexpert.com/2013 ... ommission/

If you don’t want to read the article then the title says it all “Using plastic overseas? Always PAY IN EUROS (even if it says 0% commission)”

Pete.

[PeteKnight]

Slightly off topic but I have just opened a Starling bank account on-line and am really impressed.
You pay in in sterling - all on-line using a really intuitive app and features include free withdrawals abroad (except where bank levies a charge) but at the commercial (MasterCard) rate rather than tourist rate, free contactless and pin debit card transactions also at commercial rate. Also ability to instantly turn card on and off (for security purposes) using the app.
I was in Spain last week and where Caxton rate was 1.09, I got 200 Euro for £177.46 which equates to 1.126.
You get an instant notification each time you conduct a transaction which also provides you with the reassurance that card is being used legitimately.
Try it, you won’t be disappointed! Can all be set up on-line (photograph passport/driving license).
You even get interest credited to account every month.
See: https://www.starlingbank.com

Starling Bank looks interesting. I started using Monzo earlier this year because they offered an almost identical service (without the interest on balances or cash back), but they have now decided to introduce a fee for foreign transactions - because a few people (I guess me included) were costing them too much in foreign transaction fees.
Hopefully Starling won’t go the same way, but at this stage it looks to be well worth a try, so thanks for the tip.

Pete.

[soapydave]

Try it, you won’t be disappointed! Can all be set up on-line (photograph passport/driving license).
You even get interest credited to account every month.
See: https://www.starlingbank.com

and how securely do you send your photographic id online?
where is starling bank based?please.

[freddo]

Starling Bank is registered in England and Wales as Starling Bank Limited (No. 09092149), 3rd floor, 2 Finsbury Avenue, London EC2M 2PP. You will find the growing Starling team working at the same location. We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 730166.

[Rick]

and how securely do you send your photographic id online?
where is starling bank based?please.
[/quote]
Soapy, just trying to be helpful, if you are uncertain about security, leave it alone. My experience has been good, all I am saying!