sending money abroad

welorac

Hi

My daughter nows lives and works in Dubai and she banks with HSBC. I'm here in the UK banking with Barclays.

The problem is each time we send money bewteen our accounts, eg for presents and gifts etc, it costs us an enormous/disproportionate amount of money.

Can anyone advise how to keep this waste of money down to minimum, or do it for free please?

jennifernil

To get money from here to Dubai, open a joint Flexaccount with Nationwide. You put money in and she takes it out using her card in Dubai. No extra charges. However there is the question of whether she would be allowed to have the Nationwide account if she has no address here.

Sorry, I don't have any suggestions for Dubai to here.

Can you transfer free between HSBC accounts? If so why do you not open an HSBC account and keep it for this purpose?

gt94sss2

Can your daughter open a HSBC account in the UK or Offshore (Channel Islands?)

I believe HSBC allow free or discounted money transfers for their own customers who have accounts with them in more than one country.

You would then simply have to transfer the money from Barclays to her new HSBC account (which will have a UK Sorting Code)

HSBC in Dubai will probably have a 'International Banking Centre' which can advise on the best way/help her open a HSBC account elsewhere

Regards
Sunil

skyrider007

Citibank also offer fee free telegraphic transfers between Citibank accounts held anywhere in the world.