Making a SEPA transfer efficiently

fcmisc

I want to transfer £2K, via SEPA (and Euros), to Coinbase.

I am a UK resident.

I need to do this in 2 steps.... First transfer the £2k to an EUR account. Then do the SEPA transfer.

HSBC are quoting me a rate of 1.050558 EUR, if I use a HSBC currency account, while the spot rate is 1.0865. So they are charging me 3.5% to do the transfer, which I think is too high.

Is there a better place?

mgdavid

CurrencyFair are offering 1.0810 at the time of writing. IIRC the SEPA transfer costs €3.

DesG

If it is something you will be doing more than once, I would suggest going through the pain of opening a Fineco account. Best exchange rate for EUR and free SEPA transfer. There is a thread on here with more background.

eDicky

Anything is better than HSBC currency accounts. Have a look at Revolut - if it works for you it will cost nothing for the transfer, conversion at the spot rate weekdays, slightly off on weekends.

jonesMUFCforever

fcmisc wrote: »

I want to transfer £2K, via SEPA (and Euros), to Coinbase.

I am a UK resident.

I need to do this in 2 steps.... First transfer the £2k to an EUR account. Then do the SEPA transfer.

HSBC are quoting me a rate of 1.050558 EUR, if I use a HSBC currency account, while the spot rate is 1.0865. So they are charging me 3.5% to do the transfer, which I think is too high.

Is there a better place?

Why do you have to do it in 2 steps?
You can make a SEPA payment from any bank account (and other providers such as those mentioned in above posts)