Large International Money Transfers Discussion area

ItsMikeE

Thanks for responding.

Just phoned CitiBank.
For countries outside the Euro zone they charge £20 per transaction.
A bit better than my bank (First Direct).
I am transferring to Israel

x-shysteria-x

I am about to inherit 950000. South African Rands. My intention was to leave the money in a South African bank so that it is there when I want to go on Holiday or maybe invest it in a holiday home. My problem is , which bank should I use that will also be accessible in the UK.
Do any of you have any suggestions or ideas.
Should I just transfer the money to the UK to make life easier ie the crime rate is so high, that I might not have a holiday home to go to.
I am new to all this and have been trying to research the best options, but I don't seem to be picking up concrete information.
Please help, any suggestions or ideas will be beneficial.

Thanks

inmypocketnottheirs

x-shysteria-x wrote: »

I am about to inherit 950000. South African Rands. My intention was to leave the money in a South African bank so that it is there when I want to go on Holiday or maybe invest it in a holiday home. My problem is , which bank should I use that will also be accessible in the UK.
Do any of you have any suggestions or ideas.
Should I just transfer the money to the UK to make life easier ie the crime rate is so high, that I might not have a holiday home to go to.
I am new to all this and have been trying to research the best options, but I don't seem to be picking up concrete information.
Please help, any suggestions or ideas will be beneficial.

Thanks

That's about £65,000.

It all depends on how you feel about having that amount of money in a far off land I guess.

A quick google shows that Citibank are represented there, so I would assume that you could open an account with online banking. Then if you had a Citi account here, transfers between the accounts would be free of charge.

HTH

Andrew__4

Hello - new member.

Was wondering whether anyone could give me some advice.

I'll be moving to France for 3 months (possibly 9 months) as part of my gap year. I have a place to stay but I will be required to pay via bank transfer to the tenants' daughter's bank account (which is a French bank account).

I have internet banking set up for two bank accounts of mine; Nationwide and HSBC. I've found details on Nationwide's and HSBC's costs for doing international bank transfer. I don't mind them really, and I am happy to pay £15 that HSBC are showing.

My question is, however, am I able to do an international bank transfer via internet banking, for either of my accounts? I've only ever used the bank transfer between my bank and my parents, when paying back.

I've been told that I will get the tenants' daughters' bank details in the form of "RIB" - does anybody know what this means?

Any help would be greatly appreciated!

Thanks!

Just noticed that this is the large discussion - will only be sending roughly £400 p/m, so I guess I'm small fry! Disregard if in the wrong thread.

Moneysaver007_2

x-shysteria-x wrote: »

I am about to inherit 950000. South African Rands. My intention was to leave the money in a South African bank so that it is there when I want to go on Holiday or maybe invest it in a holiday home. My problem is , which bank should I use that will also be accessible in the UK.
Do any of you have any suggestions or ideas.
Should I just transfer the money to the UK to make life easier ie the crime rate is so high, that I might not have a holiday home to go to.
I am new to all this and have been trying to research the best options, but I don't seem to be picking up concrete information.
Please help, any suggestions or ideas will be beneficial.

Thanks

Ok this is my first post, so please be gentle.

If you were to leave the money behind in South Africa, I would look at a few options.Banking in S.A. is expensive, much more so than here(there I pay to deposit cash in my account) . I think it might be difficult to open up an account if you don't have any residency in the country However, I would look at a couple of options. 1. ABSA www.absa.co.za which is now majority owned by Barclays. 2. Standard Bank www.standardbank.co.za ; 3. Pick 'n pay go banking www.gobanking.co.za .. In terms of best value, personally I'd go for gobanking. their interest rates are excellent, their internet banking is ok (although nowhere near on the par with the UK) and you'll normally get a mastercard debit card with the account to use. If this proves more difficult I'd go for ABSA I've banked with all three and think out of all them their customer service is very good. You could typically avoid paying monthly charges by keeping over R10000 in their current account (and forgo monthly service fees)and stick the rest in 32 day accounts..... However, Standard bank has an offshore London branch which could help.....
A point though :foreign transfers will probably have to be organised through the branch and will require forms for SARS (South African revenue services)....

Hope this helps

x-shysteria-x

Thanks Moneysaver007 - you have been absolutely fantastic and have given me a stepping stone - the information you gave is highly appreciated. Thanks again.

master_blaster_2

hi folks
i need to transfer about £130,000 into euros for a property purchase in spain, what are peoples experience of this and what is the best way to go about it?


thanks in advance

andrew

michellecyprus

Hi MB

I recently transferred some money and almost made the mistake of using my bank. However I spoke to the agent we brought through and they recommended a broker (who's name I cant remember, must be my age:p ).

If you drop an email to [EMAIL="info@buyabroad.com"]info@buyabroad.com[/EMAIL] FAO of John I am sure he will give you a list of brokers and then you can ring around for the best deal. There contact number is on the web site www.buyabroad.com

Have fun in the sun :-)

Michy

Captain_Fishy

I have used XETrade 20-30 times for $ transfers to my bank account in the USA, and have always found them competitive, and reliable.
:TI would reccomend!

occamsrazor

I'm looking to open an account with an online forex transfer company, but am surprised that a lot of them require you to register an account with them before they will show you the actual customer rates given. Ones I've been looking at include:

XETrade - http://xetrade.com/
HiFX - http://www.hifx.co.uk/
CurrenciesDirect - http://www.currenciesdirect.com/uk/
Foreign Currency Direct - http://www.currencies.co.uk/
UKForex - http://www.ukforex.co.uk

Of these only UKForex seems to show you the actual rates they give to customers.

I'm wondering if anyone here has accounts with more than one of these providers and could post a sample of the rates on offer at a given point in time, ignoring whatever fees are charged, in order to compare who's better.

For example, the rate given for selling USD 10,000 to be changed to GBP.