Change Euros to pounds.

makadan

what to do with 25,000 Euros ?

Hi
Not sure if this is the correct forum to post on but here goes.
I recently sold a small property in Spain June 2014. I had some of the money transferred to moneycorp. The money is worth about £19,500 with the transfere rate as it is.
What is the best thing to do with it now ? it is just sitting in a holding account. is it best to just leave it there, and hope the exchange rate changes or move it to a uk account of some sort to try and add some interest to it ?

paddytt

you could move half to reduce the risk of the currency moving against you. Put the rest in a Euro account - Citibank or many others, just Google.


Try www.transferwise.com for low cost currency exchange, I've been pleased with their service.


Good luck

makadan

Is transferwise the same sort of think as moneycorp ? do they work in the same way ?

Thanks

Voyager2002

Do you need the money now? If not, you could invest in Euro stocks or bonds, or another property, or...

paddytt

makadan wrote: »

Is transferwise the same sort of think as moneycorp ? do they work in the same way ?

Thanks

Transferwise is based on a crowdfunding model, so you get a rate close to the actual bank rate, with very low fees.

I haven't used moneycorp but I guess they use a regular bank based model?

regards

makadan

thanks, but I know absolutely nothing about stocks and shares.
I thought moneycorp and transferwise were the same sort of thing, but tw seem to be offering a better exchange rate, though only by a couple of hundred.
I don't need the money at the moment, but would like to be able to get access to it if I need it, so don't want to tie it up for long.