Transferring Euros to Sterling

notadramallama

Hi, I'm hoping someone might be able to help as I'm getting completely stuck with exchange rates/fees etc.

I have a small company in the UK that has an amount of around 30k euros in a euro bank account held with a UK high street bank. I need to transfer this either to the sterling account held at the same bank, or possibly to another personal sterling account.

Does anyone know the cheapest way to do this? Would paypal to the personal account be an option, and if so can I do it via Family & Friends as it's to a personal account?

colsten

Mixing business funds with personal funds isn't usually advisable. You should be able to get a EUR and a GBP business account with Starling Bank, whose transfer rates are near perfect, and who only charge a minimal fee. Another option might be Transferwise, or Azimo (check Quidco for Azimo cashback)

PosterBoy77

I think the cheapest way to convert these euros into Sterling would be to do it by istalling the Revelut app on your phone or by signing up for a Fineco multi-currecy bank account. Both are free to setup and the exchange rate is very close to be the money market rate.

penners324

Plenty of force companies about. Better to use those than the bank.
Monex Europe I've used and are good

colsten

mikael wrote: »

I think the cheapest way to convert these euros into Sterling would be to do it by istalling the Revelut app on your phone or by signing up for a Fineco multi-currecy bank account. Both are free to setup and the exchange rate is very close to be the money market rate.

Where Fineco is involved, you need to have an awful lot of time on your hands as it takes extraordinary effort to open a Fineco account. Anyone who has actually done it knows that. Fineco transfers also might end up costing you a small fortune as some UK banks are charging to receive money from Fineco.

Revolut (not Revelut!) doesn't have any FSCS protection, and I doubt they would be the cheapest, or fastest, not least because of their ridiculous limits