HSBC = International money transfer

sush40

Hi,

I would like to make an international money transfer from my bank account in England (HSBC) to my account in France.

I have been on the HSBC website and there are several ways to transfer money (via internet):
- priority payments (no limits, and quick transfert)
- SEPA payments (in Europe, up to £2000)
- Worldpay (in the local currency, up to £2000)

I would like to transfer about £1500 (or the equivalent in euros), and I am not in a hurry 9doesnt have to be priority payment).

What is the best/cheapest way to transfer? What is the difference between these 3 options? Can I choose between SEPA and worldpay or is it automatic?

Thank you

benjus

You need to find out what exchange rate you will get, and what fees they will charge (or, to put it more simply, exactly how much will you receive in your French account if you send £1500).

I normally use a firm like the ones in this list rather than just using my bank: http://www.fxcompared.com/Content/money-transfer-from-UK-France-below-3000-amount-1500

(out of the ones on that list, I tend to use Skrill Moneybookers or The FX Firm; the former is all online and easy to use, while the latter gives slightly better rates)

sush40

Thank you,

I know priority payment has a £17 fee when made online (£30 in a branch), SEPA payments and worldpay charge £9 when made online.

I might use SEPA or worldpay, but dont know the difference between the two...

gt94sss2

sush40 wrote: »

I might use SEPA or worldpay, but dont know the difference between the two...

If the payment is sent as EUR then I think it goes via SEPA. If its sent as GPB then I think it will go via Worldpay. As you say, they both cost the same but SEPA may be quicker.

But its best to confirm this with HSBC. (I'd be interested in knowing!)

If your account in France is also with HSBC, then you may be able to use their own on-line Global Transfer system which can be free/cheaper depending on the types of accounts you have with HSBC.

Regards
Sunil