Transferring money from UK to foreign bank account

NoBob

I've been with Nationwide for about three decades, but since it taking Flexaccount foreign ATM withdrawal tips for itself, I'm looking at transferring money (£1,000 or more each time) into a bank account in Singapore I opened. Nationwide charge £25 for a CHAPs transfer.

Just wondering if there's a cheaper way of getting the money overseas. Want to open a new account with Halifax, for the Clarity Card, and probably Metro Bank, too.

Thanks.

R.

johnmoney05

Try this one, but only start in Jan 2010 http://www.nandp.co.uk/current-account/changes-to-your-current-account/

jennifernil

If you open an account with Halifax, they do internet foreign transfers from about a £9 charge. Ask in branch what they charge for how much.

ehlo

Maybe xe.com's currency exchange service?

I've no experience with them though

blueberrypie

Seconding the recommendation for XE.com - I do have experience with them and have always found them to be excellent. They are efficient, fast and reliable, and the customer service is excellent.

benjus

jennifernil wrote: »

If you open an account with Halifax, they do internet foreign transfers from about a £9 charge. Ask in branch what they charge for how much.

Halifax may only charge £9 in fees (which is quite reasonable compared to other banks) but they won't give you a great exchange rate. Best to use a specialist FX service. SendMoneyHome.org is a good way to compare them.

maggiej_2

Another recommendation for Xe.com. Have used them on several occasions. Cannot fault their excellent service. I second Blueberrypie's comments. Absolutely first class in all aspects of my dealings with them.

I needed to transfer a sizeable amount of money to a relative in Canada which due to my allowed trading limit had to be done in chunks. No problems encountered.

Forgot to mention, not only do you get a far better exchange rate to that offered by any bank but their fees, if you want the money wired to the recipient bank account, is far cheaper than the standard CHAPS fee of £25. They also do free transfers to various countries, although I don't think they do to Singapore.

Hope this helps

nobusinesslikeshowbusines

There's no cost when you set up an account an Account with Caxton FX. Why pay for transfers when you don't have to! Plus they have an online service so you can do it yourself. V good.

Gamegal

We're now using http://www.xe.com/ too, just made our first transfer... so far so good. Emails are always answered promptly too.

Marksfish

I'll be the 5th to recommend Xe. Been using them for 3 years now and the rates are much better* now that the £15 pound transaction fee has been removed.

Mark

* Rates aren't in fact better, but you get more "bang for your buck" by saving the £15 fee.

Gamegal

Marksfish wrote: »

I'll be the 5th to recommend Xe. Been using them for 3 years now and the rates are much better* now that the £15 pound transaction fee has been removed.

Mark

* Rates aren't in fact better, but you get more "bang for your buck" by saving the £15 fee.

And a big thanks from me Mark for helping C the other evening, much appreciated. x :T