Transfer euros from spain to france?

Question

What is the best (cheapest) way to transfer euros from a Spanish bank to a French bank (Credit Agricole) on a regular basis? I would like to do this electronically, but it does not seem possible?

Answer 1

The European Central Bank (ECB) are trying to set up a Single European Payments Area (SEPA). The idea being that the whole of the EU would a single domestic market for electronic bank payments and transfers.

Prior to SEPA, each country within the EU had its own market and standards for bank transfers and payments. To pay or transfer to a bank in a different country meant that an international payment had to be made.

I do not know whether SEPA has been introduced but your bank should be able to help. You will need your BIC and IBAN numbers for a SEPA transfer to another EU country. If SEPA has not yet arrived then there is no cheap way to make regular payments between EU countries. It becomes an international payment.

I forgot to add that the international payment will be a SWIFT wire transfer. Your bank will be able to assist.

Answer 2

choose a bank that has branches in both countries and open an account