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Uk NHS pensions

Posted: Sat Oct 27, 2018 8:05pm
13 replies277 views7 members subscribed
John99andrew

John99andrew

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Location: Mojacar

Joined: 29 Nov 2017

We have moved to Spain perminantly now, and have got residency I have retired from the NHS with a NHS pension which is being paid into a uk account, does anyone know what is the best way to have this transferred in to my Spanish bank account, I am paid monthly, I am not old enough to get my old age pension yet

mandyanne

Posted: Sat Oct 27, 2018 8:07pm

Posts: 24

2 helpful points

Location: Vera

Joined: 11 Jan 2018

Posted: Sat Oct 27, 2018 8:07pm

hi i use moneycorp they r really good been using them for 5 years

John99andrew

Posted: Sat Oct 27, 2018 8:38pm

John99andrew

Original Poster

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Posts: 784

450 helpful points

Location: Mojacar

Joined: 29 Nov 2017

Posted: Sat Oct 27, 2018 8:38pm

John99andrew wrote on Sat Oct 27, 2018 8:05pm:

We have moved to Spain perminantly now, and have got residency I have retired from the NHS with a NHS pension which is being paid into a uk account, does anyone know what is the best way to have this transferred in to my Spanish bank account, I am paid monthly, I am not old enough to get my old a...

...ge pension yet

Do you know if the NHS pension will pay it directly to a bank in Spain, like people that have a state pension get it paid directly into a spanish bank ?

tony3121

Posted: Sat Oct 27, 2018 9:19pm

tony3121

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Posts: 118

149 helpful points

Location: Roquetas de Mar

Joined: 22 Jul 2018

Posted: Sat Oct 27, 2018 9:19pm

John99andrew wrote on Sat Oct 27, 2018 8:05pm:

We have moved to Spain perminantly now, and have got residency I have retired from the NHS with a NHS pension which is being paid into a uk account, does anyone know what is the best way to have this transferred in to my Spanish bank account, I am paid monthly, I am not old enough to get my old a...

...ge pension yet

Use transferwise,  best rate and normally in your bank within the same day.

John99andrew

Posted: Sat Oct 27, 2018 10:55pm

John99andrew

Original Poster

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Posts: 784

450 helpful points

Location: Mojacar

Joined: 29 Nov 2017

Posted: Sat Oct 27, 2018 10:55pm

You don’t get my point, that way you have to use a middle man, as I said with the state pension the state pays your pension direct in to your bank in Spain, but the way you are suggesting the NHS would have to pay it into a uk bank then, it would have to be transferred into money corp, then they would have to pay it into a spanish bank ie handling the money 3 times get my drift

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chrisso50

Posted: Sun Oct 28, 2018 7:44am

chrisso50

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Posts: 1106

1334 helpful points

Location: Roquetas de Mar

Joined: 23 Jul 2018

Posted: Sun Oct 28, 2018 7:44am

Have you asked your NHS pension provider? They should be able to pay monthly into your Spanish account in euros. However the key issue would be what rate of exchange they use. The rate that the U.K. state pension uses is the best available.

GomezVera

Posted: Sun Oct 28, 2018 9:53am

Posts: 12

2 helpful points

Location: Albox

Joined: 18 Sep 2018

Posted: Sun Oct 28, 2018 9:53am

John99andrew wrote on Sat Oct 27, 2018 8:05pm:

We have moved to Spain perminantly now, and have got residency I have retired from the NHS with a NHS pension which is being paid into a uk account, does anyone know what is the best way to have this transferred in to my Spanish bank account, I am paid monthly, I am not old enough to get my old a...

...ge pension yet

Oh Dear,

What a lot of mixed messages you are getting. I just retired this year and for the last ten years or so have been transferring currency professionally & personally. I would never dream of allowing my pension providers or my partners (NHS) be transferred directly into my Spanish bank account. It's a lottery as to what kind of rate you get, despite the convenience. 

I only transfer money once every three months and use a currency provider. I check the rates, contact my provider (in my case Worldwide Currencies in London --- you can build up a personal relationship there), send them the money and I always get the Euros on the same day.  There is a case for doing transfers less often which I will probably do when my finances allow it.

Good Luck,

B

tony3121

Posted: Sun Oct 28, 2018 10:00am

tony3121

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Location: Roquetas de Mar

Joined: 22 Jul 2018

Posted: Sun Oct 28, 2018 10:00am

How much does Worldwide currencies charge? If they don't charge how much lower is the exchange rate to transferwise?

GomezVera

Posted: Sun Oct 28, 2018 11:18am

Posts: 12

2 helpful points

Location: Albox

Joined: 18 Sep 2018

Posted: Sun Oct 28, 2018 11:18am

Hi,

I've built a relationship with them, so I never bother looking at the others.

I would imagine they are all much the same.

B

johnossie

Posted: Sun Oct 28, 2018 11:51am

Posts: 35

16 helpful points

Location: Albox

Joined: 22 Apr 2018

Posted: Sun Oct 28, 2018 11:51am

John99andrew wrote on Sat Oct 27, 2018 8:05pm:

We have moved to Spain perminantly now, and have got residency I have retired from the NHS with a NHS pension which is being paid into a uk account, does anyone know what is the best way to have this transferred in to my Spanish bank account, I am paid monthly, I am not old enough to get my old a...

...ge pension yet

I use the TransferWise borderless account. No fees for using the debit card and can draw 250€ a month. Best rates I’ve found and can be used as a normal bank account anyw

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