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Converting deposit into sterling
Dinah93
Posts: 11,466 Forumite
I don't have a clue if this is the right board, but I can't really find one that fits!
Anyway, we are in the process of buying our first house, the bulk of the depoist is our wedding present from my FIL2B who is giving us 25,000euros. We need to get this converted into sterling, but was wondering if anyone knew of a way to get a better exchange rate than doing a bank transfer? Also is the money exchanged at the time it is sent or when it arrives, as if the exchange rate alters even a small ammount this could make a big difference to how much we recieve.
He is sending the money from Ireland if that makes any difference.
Anyway, we are in the process of buying our first house, the bulk of the depoist is our wedding present from my FIL2B who is giving us 25,000euros. We need to get this converted into sterling, but was wondering if anyone knew of a way to get a better exchange rate than doing a bank transfer? Also is the money exchanged at the time it is sent or when it arrives, as if the exchange rate alters even a small ammount this could make a big difference to how much we recieve.
He is sending the money from Ireland if that makes any difference.
Debt January 1st 2018 £96,999.81
Debt September 20th 2022 £2991.68- 96.92% paid off
Met NIM 23/06/2008Debt September 20th 2022 £2991.68- 96.92% paid off
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Thanks, I had never heard of that siteDebt January 1st 2018 £96,999.81Met NIM 23/06/2008
Debt September 20th 2022 £2991.68- 96.92% paid off0 -
get yourself a trading account - transfer into the account in euros, convert to sterling at spot (less couple of basis points) and withdraw to sterling account. Will take a couple of days and because of the size of the sum there may be questions around money laundering.0
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