Euros savings advice

cagey678

Hi
would like some advice please. I am due to receive a gift of approx 55000 euros from a relative abroad. I dont know whether to just bring into my building society and change into sterling, and take the pain of a hefty commission charge, or to open an offshore account, and leave it in euros. And f i do change it to sterling, then any ideas on the lowest rates of commission.
Thank You.

kenshaz

cagey678 wrote:

Hi
would like some advice please. I am due to receive a gift of approx 55000 euros from a relative abroad. I dont know whether to just bring into my building society and change into sterling, and take the pain of a hefty commission charge, or to open an offshore account, and leave it in euros. And f i do change it to sterling, then any ideas on the lowest rates of commission.
Thank You.

Exchange rate is the factor to watch,you need to speak to Moneycorp,you will also need to open an account with them or another currency exchange,but they have always been efficient for me. Which country is it coming from ,that is if you decide to move it,what are the interest rates like in the country of origin.

cagey678

Hi, thank you for your advice. The money is coming from Republic of Ireland. Any ideas on a ball park figure of what commission i might expect to pay?

Thank You

canny_yorkshireman_2

moineycorp will give you the exchange rate on the day which can never be predicted or i would be rich less a small percentage for dealing but they are good have used them with no complaints
hth