Reply to: Buying Euros

Try this...

... I will recomend that you make the short trip to Las Am or Los C if you cannot find the following banks in PDLC....

You can try Banca March or Caja Canarias . They have some satisfied customers but I have heared some stories of overcharging non- residents and poor service if you don't speak spanish . Both banks have branches everywhere so I am thinking you should find one in PDLC. Whether the PDLC branch has an english speaking staff or not is another issue, but Los C and Las Am branches tend to have .

For banks that are likely to have english staff try Barclays bank in Las Am ( opp . Bourganvile Hotel ) . Also , banks like Deutche Bank speak english .....Some other spanish banks here have affliliations with british banks like RBS and therefore will more than likely have english speaking staff .You will see the RBS logo outside the branch and I am guessing that they should carry the non resident euro account product .

So , the only problem you are likely to have is finding english speaking staff to assist you if you don't speak spanish .The UK is probably the most difficult place to open a bank account , in terms of id requirements and credit checks etc ...well , maybe Switzerland comes close second... , so you should not have any problems opening an account here IN PERSON .

All you need for a non resident EURO account is your valid UK passport , your UK address and your cash . Note that requirements can vary from bank to bank - but for most banks , that's all you will need . You should get a full use euro account and visa/maestro card ( I think you call it switch over there) ..within days.....for you to enjoy your EURO whenever you want free of FX differences , commisions and charges .

Most people use the account for holiday transactions - cash withdrawal or VISA /MC debit and I would recommend this. For any other use eg overseas transactions in the UK you might find your account attracting more charges than you care to pay .

If you have no joy with the above ...shoot me a private email and I MIGHT send a more specific recomendation ...

Oi Streed!!!!

Can you recommend a bank in Puerto De La Cruz?

Re: The cheapest way to buy euros....

...is to open a Euro account .

You will not have any problems getting out Euro from ALL cash machines in Tenerife ( i live here) if your UK account has a VISA/Switch/Link logo and it's much cheaper than FX shops.

If you are a regular visitor to our beautiful island when you get here why not try to open a non-resident Euro account . Most banks in Los Christianos have the product ( go to the main square) ....you get to withdraw your euros for free whenever you travel ..

Re: If you were buying property in Europe

The Post Office will change Sterling to Euros commission free. But I would check that they use a sensible exchange rate first.

If you were buying property in Europe

The offer is genuine- Eurocashvat is a UK plc and
many buyers have saved thousands because of forward purchase contracts and not been caught out by currency fluctuations.
If anyone wants a spot currency deal that can also be arranged but as you obviously know so much the exchange rate changes all the time.

re:dfcoates

dfc,

You seem to take no part in the board other than to spam your service.

You provide no real explaination either in the spam or on the website of how your deal works.

Put up a clear explaination of your offering in the business forum and please refrain from spamming.

Personally I would consider it acceptable if you had said (in the context of this thread) 'I could arrange €500 for £xxx' or 'I can offer a spot rate of x.xx with a fee of y'

Re: dfcoates

will you please stop spaming this board with your garbage.

You are not offering me more Euros for my money, you are just paying me interest - as such you are a bank. You do have a banking license, don't you?

Tim

Re: If you were buying property in Europe

OK David. Meet you at the back gate of the cemetery at 3am. Make sure you’re not tailed. I’ll be wearing a white carnation. Watch out for the filth when you leave home. Don’t want you banged up with all this money at stake.

Be lucky and you ain’t seen me, right?

If you were buying property in Europe

Thinking of buying a property in Europe then you will need euros.
How would you like to
Get more euros-
Free bank to bank transfer to euro account-
Pay No commissions-
----
All you have to do is plan ahead 6-12 months.
It takes that long to find a property and close the deal and do the
paperwork. By then the exchange rate has changed.
As the interest rate is peanuts why not buy your euros now for a guaranteed
extra amount of euros.
Buy a minimum of £50,000 and have them delivered to a euro account in 90
days and get 2.5% more - or
£100,000 and get 5% more in 180 days time.
You can get up to 15% more euros if you buy £1m worth of euros and have it
delivered to a euro account in 360 days time.
This is a huge savings when buying that villa!
members.lycos.co.uk/disco...index.html

You can still have spot transfer deals carried out with no transfer fee and
a better exchange rate- for more info contact

David F.Coates
0044-01273304421
www.eurocashvat.com
david.coates93@ntlworld.com

Re: Nationwide

I'm very happy with my accountants, too

www.beechams.com (Stephen Ufland).

I'm happy with my contract, with the client, with the agency, with my accountants, with my bank.

I must be easily pleased.

Oh, I can moan about my rate though. *moanmoan*

Re: Nationwide

<!--EZCODE QUOTE START--><blockquote>Quote:<hr> Although I use Flemings (or whatever it's called now) for my company account, despite its lack of 'net banking. (The freephone banking is ok.) <hr></blockquote><!--EZCODE QUOTE END-->

Yes - me as well - been using them for nearly six years now. About the only good thing to come out of my four year relationship with my previous accountant - JSA!

Re: Nationwide

Don't know, Rhino.

But the Nationwide cards work (for free) in any Visa or Link machine. I've not yet been to an airport which didn't have a Visa compatible machine; but then I've not been anywhere remote. Tenerife should be ok.

Their Flexaccount is ok; I like it. The internet banking is so easy to use, and is very clearly laid out. Linked to the flex (current) account is an internet only savings account. You can use the 'net banking to shift money back and forth between the two. The internet bank account pays quite good rates of interest.

I like the Nationwide

Although I use Flemings (or whatever it's called now) for my company account, despite its lack of 'net banking. (The freephone banking is ok.)

Re: Nationwide

Yes - Nationwide is the best bet to get Euros. After ahadaya's comments I remembered a Working Lunch topic that covered it. The only problem is you have to open one of their flex accounts, which is the basic current account equivalent and pays lower interest than their other savings accounts.

Ahadaya - do you reckon I would find a machine to use the debit card at Los Christianos airport in Tenerife?

Re: Nationwide

Blurr :

Check the nationwide website, or in a branch, to ask how they calculate their currency commission.

My Natwest credit cards say in the small print that they use the rate set by Visa (which, one assumes, already has some Visa charge in there) and then add a 2.75% commission to the rate. Nationwide charge nothing.

How close Visa is to the inter-bank rate, I don't know.

Nationwide

@ahadayah
That's very unlikely. What rate do they really give? Bureaux de Change rates are something like interbank +3% or more. Credit/debit/cashpoint card gives something like interbank+2%. No individual can get closer than 1% to the Interbank rate, AFAIK.

I'd love to know if it's really possible - can you post an example rate that you've got and the date?