Transferring money from Denmark to UK account?

Tophorse

I am moving to Denmark for a new job. In the contract we have agreed to payment in pounds so I know exactly what I am getting. However, I of course have bills to pay in the UK and I would also like to save some of my monthly earnings.

ANY help with regards to the best way of transferring money from Denmark to UK AND also the interest rates in Denmark as may possibly be wiser to save in a Danish account.

Horace

I think it can be done using the IBAN method - your employer will need the details of your bank and your IBAN number (you can get this from the bank) and all monies will be paid into your account at home. I have no idea what the interest rate is in Denmark and would think that you would find out by googling Danish banks. However, it may actually be easier and cheaper to have your monies paid into a Danish bank and you can transfer money to your UK account again using the IBAN method.

Tophorse

Thanks for your help.

I have contacted First Direct who I am hoping to open an account with; I was informed that I can transfer money in sterling at a rate of £6 or in Danish Kroner at a rate of £8. But I presume the Danish Bank will also charge me for transferring.

Horace

First Direct are fab.

Sorry but have no idea about transfer charges from a danish bank, it is likely that they may charge especially if they have to convert Kroner into sterling. Best to ask them that because I really have no idea and am only guessing.

Tophorse

Thanks for all your help; I am going to open the account with FD as they seem really good.

I think if i transfer the money in Danish Kroner and I can pay £2 more for FD to exchange it.

Will do my research on the Danish banks but seems it would be best to transfer over to the UK as the interest rates seems extremely depressing!