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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?
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