Tansferring money internationally

swains

I have been working abroad for about 7 months now and have managed to save a decent amount. I plan to say working in China for another 2.5 years before returning to the UK. I would ideally like to have my money in an English account however having once got my pay transferred via my company to my UK account I lost out on around 100.

I ideally would like to make a couple of transfers a year from my Chinese account to my UK account. However with currency fluctuations and needing to use specialist services I feel a bit lost, and would really appreaciate a bit of advice on easy to understand sites which provide info on up to date currency fluctation and advice on fees relating to transferring money from an international account to a UK based one.

Thanks

Tom

dunroving

swains wrote: »

I have been working abroad for about 7 months now and have managed to save a decent amount. I plan to say working in China for another 2.5 years before returning to the UK. I would ideally like to have my money in an English account however having once got my pay transferred via my company to my UK account I lost out on around 100.

I ideally would like to make a couple of transfers a year from my Chinese account to my UK account. However with currency fluctuations and needing to use specialist services I feel a bit lost, and would really appreaciate a bit of advice on easy to understand sites which provide info on up to date currency fluctation and advice on fees relating to transferring money from an international account to a UK based one.

Thanks

Tom

I belong to an expat forum that contains lots of folks who need to make transfers of varying sizes. Using a bank usually means getting a rubbish exchange rate. One company that comes up a lot on the expats site is xe.com. They also have a Web site you can set up to get daily alerts on a basket of currencies (e.g., with the £ as the focal currency), and a phone app that does the same.


I couldn't tell whether the main problem you had was with the charges associated with transferring, or a loss on the currency exchange ...?

mgdavid

jusat use one of the many online brokers -
currencyfair.com
transferwise.com
etc
just make sure they handle Chinese currency, they don't all cover the whole world.

Znord737

swains wrote: »

I have been working abroad for about 7 months now and have managed to save a decent amount. I plan to say working in China for another 2.5 years before returning to the UK. I would ideally like to have my money in an English account however having once got my pay transferred via my company to my UK account I lost out on around 100.

I ideally would like to make a couple of transfers a year from my Chinese account to my UK account. However with currency fluctuations and needing to use specialist services I feel a bit lost, and would really appreaciate a bit of advice on easy to understand sites which provide info on up to date currency fluctation and advice on fees relating to transferring money from an international account to a UK based one.

Thanks

Tom

After using my Lloyds Bank for a number of years I decided to try Money Corporation. They not only gave me a fantastic rate of exchange but their transfer time was half the time it took the Lloyds Bank. They have a web site - you can google it - great service and their transfer fees are about one sixth of what the Banks Charge. I am very satisfied, but as someone else mentioned in the forum make sure that they can deal with the Chinese Currency - I believe they will but check
Znord737

swains

Thanks - would you mind sharing which forum?

Ifts

swains wrote: »

Thanks - would you mind sharing which forum?

I think Znord737 may be talking about this forum - referring to last line in mgdavid's post?

colsten

use a comparison service such as https://www.fxcompared.com/ to find the best transfer service.

swains

Thanks for the help - it seems that a lot of the transfer service companies do not transfer from China unfortunately though