7 Answers

Banking in Lanzarote ?

Asked by: 22nd February 2012


I am coming to Lanzarote for 3 months in March, and then hopefully coming out permanently in July. I will open up a Bank account, any advise on how to transfer a monthly income with out incurring charges.


7 Answers

  1. Kitty on Feb 22, 2012

    I don’t know of any way to transfer money between countries without incurring charges. Even transferring between Spanish/English accounts held with both Santander and Barclays costs. I think there are certain banks – possibly Nationwide – who don’t charge a fee for debit card withdrawals so it might be worth checking that out and perhaps opening an account with them so that you can just use a cash machine when necessary.Sorry I’m not being very helpful. Good question though. I will be watching for answers.

    • gill bentley on Feb 22, 2012

      Thank you for your response. Should I get any information from another source, I will post it on here for you

  2. mike leacy on Feb 22, 2012

    try a company called hifx on 01753859159,they deal with all aspects of currency transfers and will tailor their service to your needs.i used them for 3 yrs when i bought in lanza and they r reliable.www.hifx will get to their website.

    • gill bentley on Feb 22, 2012

      Thank you for your advise.I will definately contact them . I have also found some useful information regarding cards to use at ATMs with no charge. I have copied the link below. There are several solutions, and we have found one that suits us, so may be there are some that will help others.

  3. alex bramwell on Feb 24, 2012

    If you transferring small amounts of money regularly then there is no way of avoiding charges. For larger sums use a currency broker: much lower fees and better rates. Currencies Direct is one of several options.

  4. Sue on Feb 24, 2012

    There’s an article in the latest version of the Solbank Prestige Club Magazine (sent to customers on a regular basis) that mentions something called a Regular Transfer Plan for these sort of payments and it says that there won’t be any fees. I have no personal experience of this service but have been banking with Solbank for many years and find them excellent so it might be worth popping in to see them when you come over

  5. gill bentley on Feb 24, 2012

    Thank you very much for all your responses, they have been very helpful.