Let us focus on Southern Spain, though much of what follows is also relevant for other popular destinations for UK retirees including Portugal, France and other EU member countries.
Of course, your high street bank can help here but you should also consider using a specialist currency exchange company. These companies deal day by day, minute by minute in the world's currencies and are useful because they can often obtain an exchange rate better than high street banks offer, they can arrange secure electronic transfer of your funds when required and can also "buy forward" for you if it is beneficial to do so.
What this means is this: the Euro/Sterling rate changes all the time. If the company advises that the rate is becoming less favourable to you, it can buy the currency for you at the prevailing rate even if the funds are not required for some time. This can save a considerable amount if the exchange rate is not in your favour.
This may not be necessary but the specialist company can advise. Their fees are very modest and they will usually save you a lot more than you pay them.
As both countries are members of the EU, there are reciprocal arrangements between the UK and Spain whereby state pensions can be paid directly into your Spanish bank account. This can be arranged through the Pension Agency in Newcastle-upon-Tyne before you leave the UK.
Similarly, people should arrange with their pension provider for their private pensions to be paid into the Spanish bank account. Advice should also be sought with regard to investment income.
Setting up a Spanish bank account is obligatory and is needed both for receipt of funds from the UK and for payment of such matters as utilities (electricity, water, telephone etc). Help in opening a Spanish bank account will always be given by WPML or its associates.
To open the account you will need to acquire a fiscal number (similar to our National Insurance number). This is a simple matter at a local Spanish police station and again WPML will assist.
The fiscal number will also allow you to register at a local Spanish NHS clinic for medical services which are excellent and free to UK citizens above retirement age. Private healthcare is also freely available in Spain either with Spanish companies or with companies such as BUPA Spain.
Of course, having acquired your Spanish home, you will need to furnish it. Many people bring their furniture from the UK and there are many removal companies which will transport your furniture to your Spanish home.
However, others prefer to buy new furniture, particularly if they are retaining a home in the UK. A wide range of furniture packages are available and WPML will help and advise.
Retirement living in Spain can be a relaxed and enjoyable affair but there are some things worth remembering.
Despite newspaper headlines, crime in Spain is comparatively low but it does happen and you should take normal precautions, particularly after dark.
Obviously living in a retirement community drastically reduces - even eliminates - the chances of being a crime victim in your own home but you do have to venture out and this is when you need to be careful.
Remember, too, that Spain is a hot country for part of the year (that's why you are going there). But you can get too much sun.
If you are to live in Spain all year round then pay particular attention to how much sun your apartment or villa will get in summer. Blazing summer sun could mean that for much of the day your balcony and your home may be too hot and you may need to have the air conditioning on during daylight hours. This will add to your electricity bill.
So positioning is important. It is a natural thing for British people to always seek a south facing property. But be careful, this may not be the best option for you.
The cost of living is much lower in Spain which means your pension will go much further. Fresh fruit and vegetables are plentiful all year and eating out is also much cheaper than the UK.
But do remember that the Spanish take things much easier than North Europeans and enjoy an afternoon siesta.
This means they eat much later than the British - often not until 9pm or 10 pm - stay up much later and take their children with them to restaurants, cafes and bars. It's easy to wonder why these kids are not in bed. Remember they have probably been asleep all afternoon.
One final tip: do try to learn a little of the language. If you try to speak Spanish, the locals will usually respond with a smile. Even if you make a hash of it.
HEALTH
Spain's climate is conducive to good health, particularly for older people as its warm dry weather is excellent for sufferers from arthritis, rheumatism, bronchitis and pneumonia.
Healthcare in Spain, a member of the European Union, is excellent and British people of retirement age living in the country enjoy free healthcare. There are no immunisation requirements.
Local medical clinics offer an excellent service to patients and hospitals are first class. However, under the Spanish system, social care may not be as well developed or as freely available as in the UK.
Most people living in Spain find the NHS health service perfectly adequate but for those who can afford it, private medical insurance is also recommended and is freely available.
It is always wise to have a medical check-up before travelling to Spain. Most medication is available in Spain (some drugs are available off-prescription at the local pharmacy) but medication can also be sent from the UK.
It is important for older people to be confident in their general health before making the decision to move to Spain.
One important consideration is that there are few facilities for nursing care or hospice care under the Spanish system, although purpose-built retirement communities are becoming increasingly popular and more freely available and for most people can provide the kind of basic support needed as one gets older.
TAXATION
Tax avoidance is illegal in Spain and there are heavy penalties for those caught acting illegally.
The best advice is: get specialist tax advice from experts either before you move to Spain or as soon as you arrive there.
There are also complicated rules about liability for income tax if you live in Spain and again an expert of Spanish income tax should be consulted.
Spain has taxation agreements with the UK to avoid double taxation - i.e. paying tax in both countries on the same income - but good tax advice is essential.
