Sending Money Overseas article discussion

noh

I used transferwise.com lat year to send Euros for a holiday rental in Madeira last year.
Fairly easy and one of the best exchange rates at the time.
If you sign up via a referral from an existing customer they will waive the fee on your first transfer.

adamtheanimator

Firstly I've looked high and low for answers to this but have found none. I apologise if it has already been answered but there's only so much skim-reading my brain can take!

I've found this forum very useful in the past so hopefully someone can offer advice.

My question is: is it legal for my U.S partner to transfer money to my UK bank account and I give her access to the cash?

She is travelling here on a VWP (as a tourist so no work or access to public funds). She saved up to travel Europe and is using my place as a base. Because of the high rates involved with constant withdrawing from the U.S account, she has sent some money over to myself. I can then give her access to it.

The reason I'm checking is that she had trouble going through customs recently as they wanted more information about her source of funds. I want to print out the bank statement but obviously can't if it's illegal! I realise this might be a tangent from the original topic but it is still about foreign transfers so I thought I'd give it a shot.

And just for added info, we found a straight bank to bank transfer not bad, and it's very easy too

Thank you to anyone who can help or point me in the right direction. All advice welcome.

grumbler

I don't see anything illegal, but someone mentioned recently some restrictions on the USA side:

That said, straight bank to bank transfer is always bad and I don't see any point in transferring $$ to UK, withdrawing ££ and then taking ££ to Europe.

adamtheanimator

Thank you.

She is mainly using the cash in the UK as she has some spare Euros from before, so that's not a big deal.

StinkyMonkey

What are the best way of transferring small amounts (<£50) to Euro (Spanish, Greek, French) accounts and Hungarian Forint accounts?

wiccy

This has been a brilliantly informative thread - spent the best part of 3 hours reading through and making notes. I'm currently planning to base my dissertation around money transfer and the fees placed on transactions to poorer Countries.

I know it's cheeky but if anyone can assist me with this or wants to be a willing participant in my survey, please get in touch! :money:

Frenchwedding

Hi,

I am looking to marry in France next year, so would be grateful for any advice for the best way to transfer money to the venue and contractors.

Many thanks

grumbler

For transferring see http://www.mycurrencytransfer.com/money-transfer-to-France/1000-GBP

I assume you do understand that unlike with card payments (CC preferably) with transfers you are not getting any protection whatsoever should things go wrong.

For card payments see

• Your Card's Overseas Charges
• Section 75 refunds
• Visa, Mastercard & Amex Chargeback Protection for debit card purchases

pbh

[I have a friend moving to France who does not use the internet and he has sold his property in the Uk and banks with Yorkshire Bank
He is looking to relocate to france and buy a property out there and wondered which is the best way to transfer the funds to cover living expenses and eventually large amounts to buy a property He is going to france and will be opening an account in the next couple of weekso

any advice or pointers much appreciated?:money:

grumbler

pbh wrote: »

any advice or pointers much appreciated?

Read the article and the thread, at least a couple of the last pages?