how to convert euros 24 February at 4:20PM in Savings & investments 9 replies 479 views

zievar

Hello, I will soon have the proceeds of a sale in Euros.  What is the best, most reliable firm to transfer Euros to GBP.  Many thanks for any advice.

Band7

If you hop over to the Banking board, you'll find several threads with answers to the question on how to best exchange EUR and GBP

Rheumatoid

zievar said:

Hello, I will soon have the proceeds of a sale in Euros.  What is the best, most reliable firm to transfer Euros to GBP.  Many thanks for any advice.

Wise formally transferwise

DullGreyGuy

What sort of amount? Wise is certainly competitive and particularly for transactions in the hundreds or thousands but there can be better options when you go above that.

zievar

Around 130,000E

adindas

zievar said:

Around 130,000E

That is an awful a lot of money to be converted and will be lost during the conversion. Is it not better not to convert it for instance buying stocks, funds priced in EURO for Euro Zones ??

Alternatively MSE have this site:

https://www.moneysavingexpert.com/banking/foreign-currency-exchange/

AndyW79

I have used Revolut (premium) and a colleague  moved 200k from France in chunks of 50k using SEPA, he did get asked by Revolut where the money came and he just showed the apartment sales contract. It took him 4 days because of the local bank.

Saved more than 10k in exchange fees and transfers fees so it is definitely worth it and better than transfer wise or the traditional bank.

zievar

That's really helpful.  Thank you.

Rheumatoid

adindas said:

zievar said:

Around 130,000E

That is an awful a lot of money to be converted and will be lost during the conversion. Is it not better not to convert it for instance buying stocks, funds priced in EURO for Euro Zones ??

That would involve massive, and to me, unacceptable risk. I would rather take the approx €600 fee and exchange at close to spot rate.

eskbanker

Rheumatoid said:

adindas said:

zievar said:

Around 130,000E

That is an awful a lot of money to be converted and will be lost during the conversion. Is it not better not to convert it for instance buying stocks, funds priced in EURO for Euro Zones ??

That would involve massive, and to me, unacceptable risk. I would rather take the approx €600 fee and exchange at close to spot rate.

And, putting the risk issue to one side, even if it resulted in a larger pot, it would all still be denominated in € so would just create an even bigger conversion issue further down the line anyway!