what to do with my euros? help

slovak75

Hi all, been very lucky where my fiance has been given 8000 euros from the sale of a family members house in Slovakia, but we live over here in blighty so we need to know what is the best option to what to do with the euros?

It would be great to have it transfered into sterling and have the money sitting in our bank but i need to know our options first before i do anything.

Has anybody got any ideas that they could give me on the best course of action?:cool2:

benjus

Where is the money now?

If it's in a bank you'll need to find a way to transfer it. FX Brokers may be cheapest (e.g. http://www.fxcompared.com/Content/money-transfer-from-Slovakia-UK-above-3000-amount-8000 ). You could also contact your bank and get a quote for a rate booked in advance, which should be a lot better than just sending the money and letting them apply the standard exchange rate. Using a bank would give you a lot more protection than using an FX broker, although if the trade is for immediate execution your exposure to risk of the broker going out of business is pretty low.

If the money is in cash, you'll want a good bureau de change - take a look at the Travel Money Maximiser on this site and select the Buy Back option. The cheapest options are in London, so if you can't get into London you'll have to send them the cash by secure delivery.

slovak75

the money will be cash and yes we live near London anyway.

benjus

In that case, your best bet

is http://www.bestforeignexchange.com/index.php (various locations in central London) or http://www.ace-fx.com/ (London Bridge & Canary Wharf).

I'd advise calling them first to ensure that they will give you the rate published on their website and to check their ID requirements.

Zorz_2

slovak75 wrote: »

the money will be cash and yes we live near London anyway.

And then what? You will walk at your local bank, try to deposit almost 6600 pounds in cash and all sort of bells and alarms will start ringing in the cashier's mind...

hermante

Just go to Edgware Road, Paddington, Bayswater and walk around or even ask each shop for their rates and get the best 4. Haggle. Change 2000 euros at each shop. ID not required. Walk away if ID needed.

Zorz wrote: »

And then what? You will walk at your local bank, try to deposit almost 6600 pounds in cash and all sort of bells and alarms will start ringing in the cashier's mind...

Really? I do that all the time and nobody ever asks anything. Well, a few times each year anyway. And I haven't needed to speak to anyone since HSBC introduced deposit machines.

If you're concerned about depositing 6000 in one go, then spread it out or just keep it at home and use cash for a while.

sveika

hi whereabout do u live? we're also not far from london and need to buy some euros!