Large International Money Transfers Discussion area

Former_MSE_Dan · 25 April 2005 at 1:07PM

This discussion relates to the bottom section of the Sending Money Overseas article, concerning the Transferring large amounts of funds using Currency Brokers.

Click Reply to discuss.

IMPORTANT NOTE:

This is not the area for discussing using paypal to send money overseas, for that discussion go here

Steve_Gray_2 · 27 April 2005 at 4:23PM

I bought a property in Cyprus and I have opened bank accounts for both sterling and local currency. I find that the Cypriot bank gives a significantly better exchange rate than the UK bank so I transfer funds in sterling and then convert them in Cyprus. I saved £240 (3%) on a transfer of £8,000 compared to what my UK bank would have charged.

redrose001 · 27 April 2005 at 9:22PM

We bought a property in Spain. As we bank with Halifax in UK we opened an account with Banco Halifax Hispania. It's been fine, all transfers of money to our account in Spain are free and quite fast. When we bought our house over there, we got the higher rate of exchange and did all our transactions for buying the property thru' Halifax. The exchange rate was very competative.

Murtle · 27 April 2005 at 11:33PM

but none of the comments are helpful to send overseas to strangers....argh.....

HLK · 27 April 2005 at 11:49PM

I just posted this .. http://forums.moneysavingexpert.com/editpost.html?do=editpost&p=481431

on the other thread re sending money overseas. It relates to larger amounts and brokers .. didn't see this thread first as cliicked through from Martin's article..

budgetflyer · 28 April 2005 at 12:49AM

Is it possible to set up a "non resident" US bank account that regular dollar payments could go into so that I could accumalate funds and then send quarterly to my UK account to save charges. MoneyCorp ,although offering very good exchange rate and ability to fix rate, charge 15 pounds per transaction so quarterly would be better for me

hunter_gatherer_3 · 28 April 2005 at 9:37AM

Foreign Exchange Transfers

We use a company called Ruesch International to pay our suppliers overseas. The rates were far more competative than the bank (the world's local bank) and the service is brilliant. You get your own account manager and if there's any problems you can speak to them over the phone without having to get pushed through to a call centre in India.

We have since used them for a house purchase in Spain and many of ours friends have done the same.

The charge is only £10 compared to the £35 my bank used to charge and they guarantee the funds to be there unlike the bank who would say anytime between 5 - 7 days.

There's a freephone number 0800 424 292 or https://www.ruesch.com

I like the Nationwide idea alot and use them for cash aboad, can't be beaten!!However as the card holder it may be be unwise to send a card in your name overseas as you are liable for any loss on the card / account.

thelawnet · 28 April 2005 at 10:39AM

hunter_gatherer wrote:

I like the Nationwide idea alot and use them for cash aboad, can't be beaten!!However as the card holder it may be be unwise to send a card in your name overseas as you are liable for any loss on the card / account.

that's why you send it overseas with no money in it and no overdraft facility.

samson_3 · 29 April 2005 at 8:58AM

Hello,

I am relocating to the USA and want to send money there from the sale of my house in the UK. Does anyone have any suggestions as to the best way or who to use? Thanks

susan_dean_2 · 29 April 2005 at 1:06PM

I have sent money several times to my bank account in Spain through currencies4less. The exchange rate has always been good. They charge £10 and with many banks in Spain if you are transferring less then £8000 and are transferring in euros (which currrencies4less do and include in their price of £10) most Spanish banks do not make any charge.

lnjk · 29 April 2005 at 6:02PM

I send money roughly every 6 months to spain but would like to start sending money on a monthly basis to my bank account in Spain for my Mortgage. Does anyone kow of any companies that are good and do a good deal for a standing direct debit overseas?

Large International Money Transfers Discussion area

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