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Transfer from the EU to the UK
Money_saving_Martyn
Posts: 220 Forumite
Dear all
I currently working and studying in Germany (as part of my university course). My year over here is nearly up and I've got to work out what to do with the money I've managed to save up while I've been here. (I'm not rich but there's probably going to be abour £5k if not a little more by the time I'm due to come back to the UK)
I'm just wondering what the cheapest way of doing it is. Any ideas? My German bank will very kindly send it abroad for me, but I'm not clear what their charges are. Would my UK bank also charge for receiving it do you think?
I'm planning to ask my German bank exactly what the charges would be, but I'd like to go armed with some information - I know they're there to make money no to be nice!:money: At least if they tell me a quote me a high fee I can laugh and run away.
I've seen that HSBC do an offshore account in (using the euro) and that offers "free" (not sure if they make up their own exchange rate - I'm should they will!) transfers to any UK HSBC account (I closed mine 'cos it wasn't good for a student - but I think a family member has an account) but it seems you need a min of 10,000EU to open the account and I think I'll fall short of this..... and this may not even be the best option anyway!
Although I'm not due back until early July, I wanted to enquire now while the EU>Sterling exchange rate was in my favour!!
Any help or advice welcome.
I currently working and studying in Germany (as part of my university course). My year over here is nearly up and I've got to work out what to do with the money I've managed to save up while I've been here. (I'm not rich but there's probably going to be abour £5k if not a little more by the time I'm due to come back to the UK)
I'm just wondering what the cheapest way of doing it is. Any ideas? My German bank will very kindly send it abroad for me, but I'm not clear what their charges are. Would my UK bank also charge for receiving it do you think?
I'm planning to ask my German bank exactly what the charges would be, but I'd like to go armed with some information - I know they're there to make money no to be nice!:money: At least if they tell me a quote me a high fee I can laugh and run away.
I've seen that HSBC do an offshore account in (using the euro) and that offers "free" (not sure if they make up their own exchange rate - I'm should they will!) transfers to any UK HSBC account (I closed mine 'cos it wasn't good for a student - but I think a family member has an account) but it seems you need a min of 10,000EU to open the account and I think I'll fall short of this..... and this may not even be the best option anyway!
Although I'm not due back until early July, I wanted to enquire now while the EU>Sterling exchange rate was in my favour!!
Any help or advice welcome.
Please note: I am NOT Martin Lewis, just somebody else called Martyn that likes money saving!
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