Sending money overseas discussion area

m.grocott

We've got a house in France and therefore an account with a foreign bank. Can anyone advise on the easiest/ cheapest way of transferring money?

lic

Hi,
I have a Spanish bank account and transfer money to it via a money broker. I use interchange.co.uk, I can recommend them.
However you should ring round a number of different brokers and get the best price including charges. I beleive the question you should ask is "how many euros will I receive in my French account for £??.??, after all fees have been applied"?

If you visit France regularly and have a Nationwide debit card, you can draw money from an ATM at the Visa exchange rate (which is usually better than banks) free of charge, which might be cheaper than using a broker.

JohalaReewi

Have a look at Tipanet and Eurogiro. The CoOp/Smile do Tipanet and A&L do Eurogiro.

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=send

kathleen_allen

Hi to all.
Has anyone used this company to transfer money abroad or from abroad to England? can they be trusted?
I would like to read your views and experiences.
Thanks
Kathleen.

lic

I have been using this company for about 6 months. They send money to Spain for me every month.
I have never had a problem with them. They use Standing Order instead of direct Debit, so they do not have access to your bank account to the same extent as others.
The charges to send and receive money are all included in the deal.

kathleen_allen

Thanks to 'lic' for the reply. I read your first entry recommending interchangefx and decided to try them. I got a good rate offered for the money I'm converting. I just wanted to guage other people's views as well. I just wanted to reassure myself I had chosen a reasonable company. Two people, including yourself, have said they seem to be OK.
Thanks again for taking the time to reply.
Kathleen.

rez958

I have recently bought a motorcycle in the states paying the deposit via paypal.If i pay the balance via paypal the seller requires an additional 5% on top of the purchase price to cover charges administered to him by paypal.
What is the most cost effective to transfer money to the US?

maninthestreet

Was this an Ebay purchase? If so, at least for Ebay in the UK, sellers are not allowed to pass on their paypal fees to the buyer.

Cook_County

I assume you have budgeted for local sales & use taxes plus UK customs duty & VAT?

rez958

It was a US ebay purchase and yes I have budgeted for all applicable taxes Even after all shipping and taxes it still works out to be around half the price of what you would pay here.