Sending money to an overseas bank account,.....?

MrSkipsey

Without going into too much detail I will be making 11 transactions to an account (not my own) overseas over the next 2 years.
Im with Abbey who want to charge me £25 each time for the priviledge. Ive looked around and the best I can find is HSBC who say that if I was to do it myself online it would be only £15 each transaction but measn going through the process of opening up an account with them.

Does anyone know of any banks that can do this cheaper or even better without charging?!!?!?!?

Mike.

rb10

£9.50 from Halifax/Bank of Scotland if done online (possibly free over the phone as well, not sure about that). It's £19.50 in branch.

97trophy

https://www.xe.com/fx/login/

XE will send a cheque for free to the bank you want to credit.

They do swift payments but there is a charge.

viking30

Hi,
I use http://www.firstratefx.com/ very quick to open an account and NO charge. Better exchage rate than the banks but for the best rates you need to transer quite a bit, 5,000 i think.
You first open an account and then talk to a dealer who will quote you the rate. If you agree they e-mail you their bank details or debit your card and send the money to the account details you supply.
I have had no problems and they are fast.
Hope that helps,
Cheers.

noah271007

£9 via HSBC online banking. As far I am concerned, this is the cheapest way (of all Uk bank accounts including Nationwide who charge £20) to transfer money electronically to a bank account overseas. However I am not sure whether this applies to worldwide. I regularly send money overseas to Europe. Hope this helps.

tishme

HSBC £9 to send to EU countries. HSBC have cut-off time of 15:30 each day for this service which is really not convenient for me, will they honour online rate if I call?

maxsquared

I remember some bank (maybe citi) can do it for free as long as the bank has branch in the other country and the person in the other country who is receiving the moeny uses the same bank.

blueberrypie

Seconding the recommendation for xe.com - fantastic service and guarantee the best exchange rate. You do need to open an account with them, but it's a one-time thing and then it's fast and easy to transfer money.