How and when to convert a £ sterling lump sum into euros.

expat_granny

HELP! What is the best way to transfer pounds sterling into euros? I'm 69 years old, female, divorced, non-taxpayer on basic state pension and want to buy a house in France. I have just sold my house in the UK and after settling all my debts expect to have a lump sum of £125,000 to £130,000. I'm thinking of putting it in a UK euro bank account - possibly in 2 or 3 instalments but am finding it impossible to work out how to do it and which bank to go for. All the publicity is targeted towards wealth management and tax avoidance schemes which do not apply to me. I have accounts with HSBC, Lloyds and Halifax Banks at present plus an account in France with Credit Agricole. I'm not in any hurry and I do not expect to spend all the money in one go - possibly 100,000€ for the house purchase plus some sort of savings/investment and something in a current account to supplement my basic state pension.

I'm totally confused, any advice will be very welcome.

jonesMUFCforever

Will you be able to live in France on ''just your basic state pension''?

jimjames

Exchange rate looks good today, might be worth looking into it asap as it's not been this good for a while

grumbler

expat_granny wrote: »

HELP! What is the best way to transfer pounds sterling into euros? I'm 69 years old, female, divorced, non-taxpayer on basic state pension and want to buy a house in France. I have just sold my house in the UK and after settling all my debts expect to have a lump sum of £125,000 to £130,000. I'm thinking of putting it in a UK euro bank account. - possibly in 2 or 3 instalments but am finding it impossible to work out how to do it and which bank to go for. All the publicity is targeted towards wealth management and tax avoidance schemes which do not apply to me. I have accounts with HSBC, Lloyds and Halifax Banks at present plus an account in France with Credit Agricole.

You don't need a € account in UK.
Just use a currency exchange company to convert £->€ and transfer € to France: https://www.fxcompared.com/Content/money-transfer-from-UK-France-above-3000-amount-10000

MSE article: Sending Money Overseas

expat_granny

jonesMUFCforever wrote: »

Will you be able to live in France on ''just your basic state pension''?

Living on the basic state pension? I've been doing it for some time, rent from the house in the UK paid my rent in France so I'm just simplifying life by getting rid of both my rental income and my rental payments and hoping to have a little capital to cover emergency expenditure. I live simply and economically and am very, very happy.

jonesMUFCforever

expat_granny wrote: »

Living on the basic state pension? I've been doing it for some time, rent from the house in the UK paid my rent in France so I'm just simplifying life by getting rid of both my rental income and my rental payments and hoping to have a little capital to cover emergency expenditure. I live simply and economically and am very, very happy.

Don't you have a French bank account in Euros?

mgdavid

jonesMUFCforever wrote: »

Don't you have a French bank account in Euros?

guess you missed this in post #1

'plus an account in France with Credit Agricole.'
that will be in Euros....