Large International Money Transfers Discussion area

achtunglady

peter999 wrote: »

Where is the money going to end-up ??

How about your mum opens an account in her name to pay money in.
When you get out there open a 2nd account in both your names
& transfer the money across.

peter999

The money us going to end up in the UK eventually (the house sale was in the West Indies), i'd prefer it here to be honest. We cannot open a joint account out there UNLESS BOTH of us are present at the same time, which we will not be.

buglawton

Moneycorp does look good when you see that RBS is a stakeholder. However, stare at their website as I may, I cannot see a simple statement of the minimum ad-hoc non-business transaction size. No doubt they want to acquire your email address or phone number when you ask this simple question, it is probably in the region of £10,000.

buglawton

Have a look at Xoom
https://www.xoom.com/?co=IN&lg=en

Butterbur

I would be interesting to know if someone as used Xe Trade as a broker before and their experience of them. Does someone has a good broker to recommend with good rates?
Thank you for your replies.

JasonOfOz

Thanks for the article Martin - it was very helpful.

Is there any indication of what you regard as a small amount and what you believe is a large amount?

I'm transferring $A15,000 from Australia to the UK and am not sure if this is really small or large so am not sure whether to use Paypal, Oz-pay or Tranzfers.com

Can offer any advice?

Thanks!

Jason

buglawton

All of the money moving co's seem to hate saying upfront what size, if any, of ad-hoc transfer amount they are willing to work with. If you ever send them an email enquiry with a phone number you'll then get pestered with pointless sales calls (I have found from experience).

Joyful

Hope someone on here can advise. I host Foreign Language Students. I had one that stayed a while then went home to Saudi Arabia to collect his family. He just called as when he tried to get his bank to transfer his advance rent for a property to a company in Scotland before he returns( he has been delayed) they advised they can transfer to a person but not a company!

One of his friends who is here suggested that he transfers the money to him and he pays it. It has to be paid to the agency by 8th July and he has actioned this today. How long will it take for the money to be transferred from Saudi to Scotland? Also his friend will then need to get a Bankers Draft to pay the agency. Does a bank need any advance notice of this?

inmypocketnottheirs

Joyful wrote: »

How long will it take for the money to be transferred from Saudi to Scotland? Also his friend will then need to get a Bankers Draft to pay the agency. Does a bank need any advance notice of this?

It depends how the money has been sent. If it is a SWIFT transfer then usually 2 days. I receive SWIFT payments from Malta, and they arrive quicker than a UK payment.

No advance notice is required for a bank draft, but there will be a charge for this. Probably about £10.

HTH

MCSC

I use Currency UK to transfer monies to my bank account in Canada. I wish to transfer a large amount to my daughter in Australia. After reading Martin's article, there are 3 others mentioned HIFX, Currency Direct & Foreign Currency Direct.
What is the best & cheapest, with the best exchange rate, company to use to transfer this money?

paddytt

diana_Marshall wrote: »

Hi,
Please can you help me to understand which is the best way to transfer Euros to Sterlings. The money are due to me due to an inheritance from my grandfather, I am looking at the sum of 40000 Euros; it is better to stick to reputable banks e.g. Nationwide or I need to look around?

Diana

I was recently in the same position and transferred €20k to the UK. I used HiFX and their service was ABSOLUTELY A1 - brilliant. I had numerous problems getting the bank in Ireland to transfer the money (signiture security...) and HiFX stood on the deal for nearly three weeks before receiving the money. No pressure, just gentle reminders and when I explained they understood and waited patiently. Their communication was first class, on the phone, by email and then by text when the money hit their account.

regards

TT