money transfer FROM Russia to Nationwide

mediaman

My daughter needs to transfer cash from Russian bank to the UK.
Can anyone suggest the best and economical way.

Thank you

colsten

Try fxcompared.com

SLZ

mediaman wrote: »

My daughter needs to transfer cash from Russian bank to the UK.
Can anyone suggest the best and economical way.

Thank you

Who does she bank with in Russia, is it Sberbank, VTB24, Raiffeisen, Bank of Moscow or another? She shouldn't pay more than £5-10 depending on amount. I wouldn't normally suggest a bank is best but this is Russian and it's one of the few times that I'd use a bank than anyone else for transfer.

Raiffeisenbank tends to be the most favourable as it's an Austrian bank with a huge market presence compared to the others.

diamonds

SLZ wrote: »

Who does she bank with in Russia, is it Sberbank, VTB24, Raiffeisen, Bank of Moscow or another? She shouldn't pay more than £5-10 depending on amount. I wouldn't normally suggest a bank is best but this is Russian and it's one of the few times that I'd use a bank than anyone else for transfer.

Raiffeisenbank tends to be the most favourable as it's an Austrian bank with a huge market presence compared to the others.

Good to know, most probable never be there myself but information is education and that helps other board users

mediaman

Thanks I will send her these replies

colsten

SLZ wrote: »

Who does she bank with in Russia, is it Sberbank, VTB24, Raiffeisen, Bank of Moscow or another? She shouldn't pay more than £5-10 depending on amount. I wouldn't normally suggest a bank is best but this is Russian and it's one of the few times that I'd use a bank than anyone else for transfer.

Raiffeisenbank tends to be the most favourable as it's an Austrian bank with a huge market presence compared to the others.

It's not just charges you need to take into consideration but also exchange rates. The banks generally give you rotten exchange rates.

There may also be extra fees charged by the Agent Bank, which is the intermediary between the russian bank and Nationwide.

The good specialist currency transfer firms use very keen exchange rates and any fees are very low and very clear at the outset.

http://www.nationwide.co.uk/~/media/MainSite/documents/support/payments-transfers/P1078_OverseasPayments.pdf