Best way to send ~£150k from UK to Hungary?

[Deleted User]

Hi all. I am about to purchase property in Budapest, using funds currently in the UK. I'm looking for advice on the best way to send the money. The property is priced in local currency i.e. HUF.

I will be sending around £150k. This is currently in Stocks & Shares ISAs, and I plan to move this money to my First Direct GBP account, and then to Hungary.

I have an existing & active Hungarian account with Raiffeisen.
I have a Wise account, with GBP, EUR and HUF accounts.
I don't have e.g. Starling or Revolut, but obviously could open them if necessary.

Or should I be looking to use a specialist currency broker? xe.com???

All thoughts, ideas, etc welcome. Many thanks!

eDicky

It sounds like you have everything necessary, and with Wise for the conversion transfer. Have all the documentary proof of source of funds ready to show First Direct, Wise and Raiffeisen if/when asked.

CKhalvashi

I'd use Wise, but would advise giving them a heads up (and checking your personal limits in the app) before attempting the transfer.

Wise (and probably the receiving bank) are likely to require both source of funds and further ID verification so it's really a case of ensuring the transaction runs smoothly by preparing everything in advance.

[Deleted User]

Thanks for the replies all, they are useful inputs. I think we will go with Wise.