Transferring Euros from Spanish Solicitor to my UK Bank

[Simon Bags]

Morning. My Father passed away in March leaving everything to my Brother and I, including a Property in Majorca. It's due to complete on the 17th December, therefore the funds from the sale need to be transferred back here to the UK. It'll be a 50/50 split.

Am I right in thinking that if I gave my Solicitor in Spain both my International Bank Account Number (IBAN) and my Bank Identifier Code (BIC) he should be able to make the transfer? The money will be in Euros and I understand there will be costs involved. I just wanted to check.

Thanks, Simon.

[TX1]

I went through the same situation a few years back however the property was in a different country, I used a currency broker based in the UK who took care of all the checks that had to be done ( because of money laundering) which involved copies of many documents including proof of the sale of the property etc etc.

[Monkeylegend]

Simon Bags said:

Morning. My Father passed away in March leaving everything to my Brother and I, including a Property in Majorca. It's due to complete on the 17th December, therefore the funds from the sale need to be transferred back here to the UK. It'll be a 50/50 split.

Am I right in thinking that if I gave my Solicitor in Spain both my International Bank Account Number (IBAN) and my Bank Identifier Code (BIC) he should be able to make the transfer? The money will be in Euros and I understand there will be costs involved. I just wanted to check.

Thanks, Simon.

We have just done exactly this after an Aunt passed away in Spain in March.

Property sold two weeks ago and money transferred within a few days all done by our English solicitor based in Spain.

All he needed was IBAN and BIC and converted to sterling at the relevant rate on the day of transfer.

Other than that it was a very painless transaction.

In our case the property had to be transferred into my partners name and she needed to get an NIE number before the sale could be completed and the Spanish inheritance tax had to be paid upfront.

Edited by Monkeylegend on Saturday 6th December 10:09

[SMar]

Check what the costs are involved with your bank. The new internet based banks like Monzo typically charge less for these types of transactions.

[Simon Bags]

Monkeylegend said:

We have just done exactly this after an Aunt passed away in Spain in March.

Property sold two weeks ago and money transferred within a few days all done by our English solicitor based in Spain.

All he needed was IBAN and BIC and converted to sterling at the relevant rate on the day of transfer.

Other than that it was a very painless transaction.

In our case the property had to be transferred into my partners name and she needed to get an NIE number before the sale could be completed and the Spanish inheritance tax had to be paid upfront.

Edited by Monkeylegend on Saturday 6th December 10:09

I'm pretty much there. Registered with Currencies Direct, few problems but pretty much sorted now, drivers licence, utility bill etc, Solicitor can take it from there and transfer as requested.

We had the same NIE needed, Spanish Interitance tax, Notary etc. Be glad when it's all over.