We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
NS&I International Payments Service
Bromley86
Posts: 1,123 Forumite
Has anyone made use of this? We're off to NZ and I thought the NS&I Direct Saver looked sensible as somewhere to dump the house sale proceeds prior to transfer without having to break it into multiple parcels.
And then I saw they're offering fee free transfers to your foreign bank account. What's the catch?
All I can see is that the receiving bank may charge, but that's presumably the same regardless of source. The deal breaker, I would assume, is the exchange rate; per the exchange rate FAQ on that page, NS&I rate is 1.92 vs. 1.95+ from the firms on Fxcompared. Presumably it's a useful service for smaller transactions?
And then I saw they're offering fee free transfers to your foreign bank account. What's the catch?
All I can see is that the receiving bank may charge, but that's presumably the same regardless of source. The deal breaker, I would assume, is the exchange rate; per the exchange rate FAQ on that page, NS&I rate is 1.92 vs. 1.95+ from the firms on Fxcompared. Presumably it's a useful service for smaller transactions?
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.3K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards