International Money Transfer

Parkhall

Hi

I need to transfer money to Romania - in the region of £5 - 10K.

Using banks I think this involves a set charge from the UK bank plus a 0.5% charge from the Romanian bank plus currency conversion charges - but I am not sure.

Can anyone verify that I am correct about this ?

Also any cheaper but safe alternatives please ?

grumbler

Parkhall wrote: »

I need to transfer money to Romania - in the region of £5 - 10K.

Using banks I think this involves a set charge from the UK bank plus a 0.5% charge from the Romanian bank plus currency conversion charges - but I am not sure.
Can anyone verify that I am correct about this ?

For the first see your bank's fees and charges.
UK banks are likely to charge about 2-3% for the conversion if they receive foreign currency. I can only guess about Romanian banks.
Some UK banks do charge a flat fee for the incoming transfers, but not all. It's unlikely that all Romanian banks charge the same 0.5%. It's pointless to guess and is much easier just to ask the bank.

Also any cheaper but safe alternatives please ?

http://www.mycurrencytransfer.com/money-transfer-to-Romania/10000-GBP

MSE article: Sending Money Overseas