Moving money from Spain to the UK

Maxsun

Hi there,

I have been living in Spain for some years now and I have some savings here in Euros. I plan to return to the UK and bring them with me, possibly to use as a deposit for a house / flat or perhaps just to invest.

I have been looking at the exchange rate at the ECB (European Central Bank) and clearly it's not the best time. To make matters worse I called up my bank in the UK and it seems that they set their exchange rates for the day to less than that reported by the ECB so that they have a profit margin.

So my question is: what is the most cost effective way to bring small savings to the UK from Spain?


Many thanks

Ian_W

Try googling "F/X Brokers", I'm not up to speed with which is currently the best but they usually beat the banks on the rates they give.

When you say it's not a good time - it's far better than 4-5yrs ago when it would have cost 150 euro to buy £100, now it's nearer 120 isn't it? Not as good as 6-12 months ago, but still not bad IMO.

That's why Spain is still relatively expensive for UK tourists buying euros in sterling.

ETA: This article and thread may also help

https://forums.moneysavingexpert.com/discussion/comment/16179863#Comment_16179863