I have read the banking thread and it seems that 0.4% is what is normally charged for transfering money from the USA, but how does the bank figure the Dollar to Euro conversion.

The conversion rate in all the financial indicators is about 1.18 Dollars to a Euro. Can I expect this kind of rate?

Also, what are the feelings about the future of the Dollar and Euro. I have visited some Spanish bank websites and many will allow an account in a foreign currency. I am thinking (read hoping) that the Dollar will rebound and be back to a par with the Euro in the near future and I may be better served by transfering all of my money as Dollars and converting it to Euros only as it is needed.

One last question, has anybody used the "mail order" NIE/NIF service offered by some Spanish attorneys on the web? They charge 200 Euros and you have to mail them your passport (EU). Sounds a little dodgy. I don't like the idea of mailing my passport.

Any thaughts.

Hey Iain, I am not sure which exchange rate will apply to a transfer, will ask at my bank next week.

quote:

"I have visited some Spanish bank websites and many will allow an account in a foreign currency."

This is true, you can have and account in foreign currencies at pretty much any Spanish bank. Here they call them "cuentas en divisas" but BE CAREFUL and be sure to inform yourself of the maintenance costs for these accounts as they tend to be quite high. I briefly mentioned at my bank ("La Caixa") that I may open an account in $ and they said the maintenace is high but I could if I wanted to.

I am going to go to Citibank here in Madrid next week and ask there as well, perhaps the fees will be less being an American bank

I have been meaning to look into this since almost all of my clients pay me in USD$ and I too wanted to have an account in $ to wait for the dollar to bounce back and then change over to Euros as I see fit.

As for your question on the � Euro -vs- $ Dollar, there is a great thread on it HERE that you should check out if you have not already done so.

Hmmmmm... never heard of that "mail order" NIE/NIF service" but sounds like crap! I would not mail my passport anywhere either, much less to a lawyer :jeje:

Saludos,
jer...

Thanks for the info.

Re the Dollar, my feeling is that it will rebound soon as foreign economies rely far more on exports to the US than the other way around, Particularly in Asia.

From the thread that you directed me to, it appears that the exchange on transfers is done without a mark up. Thats good news.

It also appears that many people blame the President for financial problems that they admit that they do not fully understand. I wonder if a Democrat would get more benefit of the doubt.

Looking forward to Spain.