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Single bulk transfer vs small transfers
marquesmps
Posts: 1 Newbie
Hello all
I have a big spending to do in an Euro currency country.
I have to transfer £20K, I am saving at a rate of £2k per month.
Now the GBP EUR currency exchange is 1.40
I am wondering if I should transfer monthly to euros, or wait until I have the full savings and transfer it in a single transaction 10 months from now.
I should consider transfer fees, and currency exchange rates (that we cannot predict).
And could I in anyway benefit from having a larger account in the UK, even if temporarily, therefore it would be better to save everything before transfering?
What would you do in my situation?
Thank you for the help
I have a big spending to do in an Euro currency country.
I have to transfer £20K, I am saving at a rate of £2k per month.
Now the GBP EUR currency exchange is 1.40
I am wondering if I should transfer monthly to euros, or wait until I have the full savings and transfer it in a single transaction 10 months from now.
I should consider transfer fees, and currency exchange rates (that we cannot predict).
And could I in anyway benefit from having a larger account in the UK, even if temporarily, therefore it would be better to save everything before transfering?
What would you do in my situation?
Thank you for the help
0
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