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Sending money overseas discussion area
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I had to send a friend a reasonable amount of money to NZ a few years ago, and LTSB charged £10 for a bank draft in NZD, cashed free at his end.0
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You can have a look at TIPANETs or EuroGiro.
Smile (and the Coop) do TIPANET and charge £8 (but Ireland doesn't seem to be covered). A&L do EuroGiro and charge £7.50.
http://www.smile.co.uk/servlet/Satellite?pagename=Smile/Page/smView&inifile=futuretense.ini&c=Page&cid=1027951510454
http://www.eurogiro.com/
http://www.alliance-leicester.co.uk/otherservices/index.asp?page=international-payments&content=send0 -
Halifax's telegrahic transfer fee is £17.50
you are paying for the service
Its cheaper than doing a CHAPS transfer in this country as that is £250 -
I use xetrade.com to send money to America and vice versa. There are different options as far as wiring money or using electronic transfers or bank drafts for the transaction, but there is one option that is free, and the exchange rates are very competitive. I have not had any problems with it.0
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there is one option that is free, and the exchange rates are very competitive
I have to admit to a certain scepticism re firms that are coy about displaying their exchange rates to the public; if they were that good, why aren't they visible to all, like several other online moneychangers? You'd think it would bring in trade.
Just as an example, what are their buy and sell rates for the USD today?0 -
bandraoi,
PayPal has a very inexpensive way of moving money from one account to another. I have heard of folks using PayPal to transfer money from the UK to the USA and they don't charge a transfer fee.
Stay away from the banks if you can, they are too expensive!
PayPal's exchange rate is currently 5 points off the going rate. For example if the rate is 2.00 USD for 1 GBP, they will exchange your pounds at 1.95.
Take a PayPal UK account that is linked with a UK current account, move the money you want to transfer into that PayPal account, then send that money to a PayPal US account that is linked with a US checking account. PayPal UK to PayPal US is instant and you can then move it into the US checking account or account that is linked to PayPal....easy peasy.
Make sure that both PayPal accounts are only for personal use and not "business accounts" or they will charge you a fee to receive the money as if you were using it to conduct business.
Once the money is sent to the US account, it will ask the person to accept or decline the transfer and tell you how many dollars you will get for your pounds if you accept it.
Do check with PayPal to confirm that my information is up-to-date, since these companies are always changing their rules and regulations.
Hope this helps?0 -
It's not a US account though, it's an Irish account.
From Martin's article the cost is a 2.5% loading on the exchange rate and a 3.9% loading on the actual transaction to be used by the lender.
Since in this case I've to absorb both costs, the total cost = 2.5+3.9 = 6%.
The 2.5% loading is £17.50 and the 3.9% loading is £27.30, or £44.80 total.
The cheapest way I've found is to send her a cheque, it'll be a E6 (£4) charge for her to lodge a sterling cheque to her account. Even allowing for an extra few points in the exchange rate, that'll be the cheapest.0 -
I did a lot of research before I finally found the best rates for sending money to the Philippines with https://www.suremoney.swift-cash.com. It does require you to have a Barclays online Bank account but there is a flat rate of £4.50 per transaction into any 'Banco de Oro' or 'Bank of the Philippine Islands' or door-to-door delivery in Manila. Cash usually arrives the next day but never takes more than 2 days (Public Holidays excepted). Their most expensive transaction is a door-to-door delivery in the provinces at £7. Every 5th transaction is free. I have used them for over two years and have found the staff very helpful and have never had any problems.
I hope this might help some of our Filipino nurses who want to send cash home to their families.0 -
Is there a cheap way to do an International Money Transfer to an EU bank account, in this case Germany.
I want to buy something from Germany & send 50 Euros (~£35).
My bank charges £21 minimum (!!) for international money transfer, which is ridiculous if you only want to send small amount.
I have sent money abroad many times by Cash/Paypal & I know what my bank charges (£21).
But I would like to find cheap way to transfer money to EU bank account, if possible.
peter9990 -
any ideas ??0
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