EUR to GBP conversion

r2mahara

Hi folks,

Not sure if this is the best board to post this in. I have several thousand euros in a Spanish bank account and wish to transfer the money to the UK in the most cost efficient manner.

Any suggestions? The options I am aware of are:
- Use a currency broker
- Take the money out in a UK bank (incurs charges)
- Paypal the money to myself (2.5% charge)
- Bank transfer (about 40 pounds?)

Just hoping someone has more experience doing this. Thanks in advance.

innovate

Have you looked at moneybookers.com ? I recently used them to transfer GBP to Euro. Takes quite a while (2 weeks-ish) to complete a transfer, but the charges are the lowest (assuming you can use bank accounts both ends), and the exchange rates aren't bad.

inmypocketnottheirs

Not forgetting if you transfer the money to yourself, in addition to any charge, there will be the cost of converting Euros to GBP. If you have cash, I can recommend a currency exchange in E London that generally gives 1 eurocent off the teletext rate. PM me if you need the details.

HTH

Regards

Phil

Dagobert

For comments on international bank transfers see thread Foreign Transfers: different banks - different exchange rates!.