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  • FIRST POST
    • Sabine
    • By Sabine 3rd Jan 18, 9:15 PM
    • 33Posts
    • 24Thanks
    Sabine
    Moving to Germany - best way of transferring money from UK to Germany
    • #1
    • 3rd Jan 18, 9:15 PM
    Moving to Germany - best way of transferring money from UK to Germany 3rd Jan 18 at 9:15 PM
    What is the best way of transferring a large amount of money to a German bank account? I'm selling my house in the UK and want to buy something in Germany and was wondering, how I can minimise losses through for instance currency exchange.
Page 1
    • eskbanker
    • By eskbanker 4th Jan 18, 12:33 AM
    • 7,495 Posts
    • 8,081 Thanks
    eskbanker
    • #2
    • 4th Jan 18, 12:33 AM
    • #2
    • 4th Jan 18, 12:33 AM
    See https://www.moneysavingexpert.com/banking/foreign-currency-exchange for guidance on the most cost-effective ways of achieving this.
    • Marrad
    • By Marrad 4th Jan 18, 12:31 PM
    • 5 Posts
    • 1 Thanks
    Marrad
    • #3
    • 4th Jan 18, 12:31 PM
    Negotiate
    • #3
    • 4th Jan 18, 12:31 PM
    I have used OFX for sums up to 10,000 - and have found them to be quick, easy and much cheaper than my bank. If you do use your bank, it might be worth trying to negotiate a better rate especially if you are a good customer.
    • Voyager2002
    • By Voyager2002 4th Jan 18, 12:49 PM
    • 12,182 Posts
    • 8,303 Thanks
    Voyager2002
    • #4
    • 4th Jan 18, 12:49 PM
    • #4
    • 4th Jan 18, 12:49 PM
    If you don't mind fiddling about a bit...

    Open an account with a UK bank that does not load foreign currency debit card transactions (Metro Bank is the most obvious);

    Open an account with a Euro-land bank that allows you to fund your account by debit card. You are not restricted to Germany, and might well find that this is easiest in Ireland;

    Use your debit card to fund your Euro account. Under EU rules they are then not allowed to charge you to move these funds elswhere within the Euro zone.
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