Cheapest way to send money to Europe bank.

eDicky

It seems like a strange situation - someone in Belgium wants you to send them an amount in pounds to their (presumably euro?) account, the IBAN of which is correct but not recognised by Santander, and you want the cheapest way to send it but it doesn't matter how much in euros they end up with.

Well, the cheapest way is free, if you can use Revolut on their smartphone app. In pounds, or in euros converted at the perfect interbank rate, and it might even recognise the IBAN.

https://revolut.com

Chaykin

@eDicky: It looks like the OPs contact in Belgium simply has a currency account in GBP and would like to be paid in GBP.

I'm not sure if it's possible with Revolut to do a GBP -> GBP bank transfer, I think they only do cross-currency transfers? (i.e. they make their money on exchange rates)

@hubb: from the accounts you have Halifax would be the best option at £9.50, just make sure you select that recipient receives GBP and not EUR. A transfer like that costs £4 at HSBC but looks like you do not have an account there. Alternatively a PayPal transfer costing 0.5%?

eDicky

Chaykin wrote: »

@eDicky: It looks like the OPs contact in Belgium simply has a currency account in GBP and would like to be paid in GBP.

I'm not sure if it's possible with Revolut to do a GBP -> GBP bank transfer, I think they only do cross-currency transfers? (i.e. they make their money on exchange rates)

Actually no, it's not like that with Revolut. You can send your pounds, dollars or euros that you already have, in separate balances, there's no cross currency in the actual transfer. You have already converted what you need at the interbank rate, Revolut don't take a margin. So you can send pounds to a GBP account anywhere, etc.

Anyway, it's far from clear what the OP/recipient need, a GBP account in Belgium is unlikely, and if pounds are sent to a euro account then that bank will gouge on the exchange rate. Apparently that is not a concern for some reason.