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View Full Version : Which is the best method of transfer for euros to sterling?



waverunner
20-11-2013, 13:18
Have a fairly large cheque in Euros that I want t go back to the UK and changed to sterling which is the best way to do this ? At the moment Im confused because if I pay it into the bank here when they transfer it they charge then when it gets to the UK they charge again !!! Have been told about Moneycorp but I would still need to deposit in the bank here and suffer their charges HELP

welshman
20-11-2013, 19:44
Have a fairly large cheque in Euros that I want t go back to the UK and changed to sterling which is the best way to do this ? At the moment Im confused because if I pay it into the bank here when they transfer it they charge then when it gets to the UK they charge again !!! Have been told about Moneycorp but I would still need to deposit in the bank here and suffer their charges HELP

If you can hold on to it put in Tenerife Bank until exchange rate improves, need pound to drop against euro to do it know will cost you but its a gamble either way. You can try KBR in the uk they will explain how to transfer back to Uk and they give good exchange rate. Best of luck in the same boat but sitting tight at present until the exchange is favourable.

kiwiphil
20-11-2013, 23:52
I use Currency Fair every month. The rate for exchanges is effectively set by yourself and you are actually trading with someone who is trading the other way. The only cost is to transfer money back to your account, and that is only around 3 euros.

waverunner
21-11-2013, 09:21
Sounds like a really good idea, but I'm not sure about transferring a large amount, thanks for the info

kiwiphil
21-11-2013, 10:01
Not sure about how much you are talking about, but at the moment I can see around 4M in pending transfers, ranging up to about 450k. It is a very reliable service, but please do your own due diligence.

karinagal
21-11-2013, 11:33
I used Caxton FX to transfer the money for our apartment purchase. However, due to the amount we were transferring, there was a charge from our bank to transfer the sterling amount to the Caxton trading account by bacs.. Wasn't a huge amount but couldn't tell you how much we paid..

kathml
21-11-2013, 17:48
at the moment you dont want to exchange eupos for pounds unless you really have to its a gamble as to what exchange rate will be in the future