Putting Euro notes into UK bank account

BrownGirl

We've been asked to put €1000 in notes into a UK account for a family member who is now living abroad but who needs his UK account funding with some money.

Can anyone advise if we are able to do this and if so how? I've checked in a foreign exchange who won't buy back large value notes and I asked at our own bank who can't do it.

Is this possible and if so could anyone let me know how to do it?

Thanks

agrinnall

From what you say it sounds like you already have the cash. I'm a bit surprised that you can't get it changed, but if that's so then it might be better to send it back to the family member and just get them to transfer the money electronically from their overseas bank, which will get a better exchange rate (although there may well be a charge for doing it). Or they could change the Euros to sterling out there and send that to you.

innovate

I reckon you will get asked a lot of questions if you walk into a UK bank to deposit 1K euros in used notes. Probably the same, or worse, in a currency exchange. Even more so if they are new notes.

jonesMUFCforever

Depends on the denominations. Euro 500 is a no no - 200 's will be treated suspiciously.

grumbler

agrinnall wrote: »

Or they could change the Euros to sterling out there and send that to you.

How can this be better than changing in UK?


http://travelmoney.moneysavingexpert.com/buy-back/euros/1000#results

BrownGirl

Many thanks for your replies. If it had been up to €100 notes we'd have been fine to get it changed but just not the higher value notes. Sounds like we'll be best to send it back to them for them to transfer from their bank then.

grumbler

BrownGirl wrote: »

Sounds like we'll be best to send it back to them for them to transfer from their bank then.

Instead of transferring directly from their bank suggest them checking

http://www.mycurrencytransfer.com/money-transfer-to-UK/1000-EUR
and
http://www.fxcompared.com/Content/money-transfer-from-France-UK-below-3000-amount-1000

pinkdalek

What denominations are they in? The larger the denominations the bigger the suspicion around why you are changing them and how you've acquired them It's sad and frustrating as you're treated like a criminal when technically you're doing nothing wrong.

To be honest the safest and easiest way would be for them to send it electronically or some banks will issue drafts in either Euro or Sterling.

agrinnall

grumbler wrote: »

How can this be better than changing in UK?


http://travelmoney.moneysavingexpert.com/buy-back/euros/1000#results

For the extremely obvious reason that the OP is finding it impossible to change them in the UK.

mgdavid

OP have you tried popping in to forex offices or bank branches and asking them to change just one note into smaller denominations? I don't think a single note would raise many eyebrows but you could always say it's for a student or pen-friend who is visiting, or somesuch.

catokelly

Most specialist foreign currency companies will buy €500 notes, the only problem would be that the rate is usually worse than their standard Euro buyback rate (but still a better rate than what banks generally offer). I know that Thomas Exchange UK and bestforeignexchange will convert them to sterling and pay you cash or directly into your chosen UK bank account (if you're outside London you can post them).