Tracker Posted August 11, 2014 Share Posted August 11, 2014 Sorry folks - it's not motorhome related - but we need to know - is there a better way to repatriate a lot of Euros from either a Spanish bank draft or Spanish bank a/c to a UK bank a/c? From Spain, Sabadell in Spain want to charge .35% with no upper limit and Smile in the UK will take an incoming transfer at no charge but their exchange rate today is an ungenerous 1.2755 EUR to the GBP. In the UK, Smile will process a Euro bank draft or cheque in the UK for .25% with a maximum of £60 but the same exchange rate applies. That exchange rate looks like it is about 2% off the better rates being bandied about the internet - we just need to find out how best to get a good rate? Many thanks. There must be a better way? Link to comment Share on other sites More sharing options...
Guest Peter James Posted August 11, 2014 Share Posted August 11, 2014 A currency broker will usually give you a better deal than a bank. You pay the money into their client service account at that end, and they pay it into your account at this end. This is a good place to look for one; http://www.moneysavingexpert.com/banking/foreign-currency-exchange?_ga=1.74916050.1362540267.1407665075 Link to comment Share on other sites More sharing options...
Randonneur Posted August 11, 2014 Share Posted August 11, 2014 We use World First the contact there is Miranda Drake. When we sold our house in France they gave us an extremely good rate, unfortunately at the moment it is not as good changing Euros to Pounds. Link to comment Share on other sites More sharing options...
lennyhb Posted August 11, 2014 Share Posted August 11, 2014 When we paid for the van we used Easy FX, recommended by Eddie (judgemental). Did find when we went to do a trade online the rate was a bit worse than what was given in their demo a quick phone call got a better rate about ½ cent below commercial rate saved a few grand compared to what my bank would offer. Link to comment Share on other sites More sharing options...
Tracker Posted August 11, 2014 Author Share Posted August 11, 2014 Thanks guys - UKForex, World First and EasyFX are all within .0002 cents of each other which is a full 2 cents better than our bank offers today. Now 2 cents is not a lot until you multiply it by a large number! I appreciate your help guys - thanks. It seems that those authorised by the FCA are slightly more secure than those regulated by the FCA? Where's Clive when you need his point of view! Link to comment Share on other sites More sharing options...
Guest pelmetman Posted August 11, 2014 Share Posted August 11, 2014 Psssst......... let me know where it is Rich ;-)....................I'll pick it up for you :-D.................for nuffink....... I'll even send free postcards enroute B-)............. Link to comment Share on other sites More sharing options...
Tracker Posted August 11, 2014 Author Share Posted August 11, 2014 Thanks for the generous offer Dave, but for someone who has long derided the desire of others to seek wealth you seem to have changed your outlook all of a sudden? Link to comment Share on other sites More sharing options...
Guest pelmetman Posted August 11, 2014 Share Posted August 11, 2014 Tracker - 2014-08-11 9:58 PM Thanks for the generous offer Dave, but for someone who has long derided the desire of others to seek wealth you seem to have changed your outlook all of a sudden? Did I say I'd spend it? 8-)...................I might of just incurred expenses :D..............I've learn't a lot from our political classes (lol) (lol) (lol)...........That's how it works ;-)..................why spend your wages when you can spend expenses.................ask our local Boston MP :-D.....................well that's his excuse *-)........... Although I expect he knows he ain't got a hope in hell of getting back in >:-).............. Link to comment Share on other sites More sharing options...
candapack Posted August 11, 2014 Share Posted August 11, 2014 Now that you've had some useful responses, I just wanted to say that while I know nothing about UKForex, I have had some good times with Castlemaine Forex. :D Link to comment Share on other sites More sharing options...
Tracker Posted August 12, 2014 Author Share Posted August 12, 2014 candapack - 2014-08-11 10:34 PM Now that you've had some useful responses, I just wanted to say that while I know nothing about UKForex, I have had some good times with Castlemaine Forex. :D Can't have been that good or you would not have remembered(lol) Link to comment Share on other sites More sharing options...
elamessa Posted August 13, 2014 Share Posted August 13, 2014 I use Currency Fair to transfer money between UK/French/UK accounts. There exchange is near enough the rate of the day and only €3 per transaction. Check them out at www.currencyfair.com There is also Transfer Wise but they seem to be slightly slower at transferring and charge a wee bit more than currency fair. HTH Link to comment Share on other sites More sharing options...
Guest Peter James Posted August 13, 2014 Share Posted August 13, 2014 Tracker - 2014-08-11 6:55 PM Thanks guys - UKForex, World First and EasyFX are all within .0002 cents of each other which is a full 2 cents better than our bank offers today. Now 2 cents is not a lot until you multiply it by a large number! I appreciate your help guys - thanks. It seems that those authorised by the FCA are slightly more secure than those regulated by the FCA? Where's Clive when you need his point of view! The link I gave probably over emphasizes the risk of losing money, because they listed 'Crown Currency' as a best buy (based on the rate they were offering) before they went bust. But Crown Currency was a different business. They took money up front, to pay for a fixed amount of foreign currency to be delivered by post up to a year or more in advance. They didn't hedge their risk, rates moved against them, and they turned into a Ponzi scheme offering uneconomic exchange rates to keep new money coming in ....... Link to comment Share on other sites More sharing options...
Tracker Posted August 13, 2014 Author Share Posted August 13, 2014 Thanks guys all duly noted. PS sitting out chatting etc this evening in Southern Spain enjoying 26 degree warmth luvly jubly! Link to comment Share on other sites More sharing options...
Guest Peter James Posted August 14, 2014 Share Posted August 14, 2014 Tracker - 2014-08-13 8:31 PM PS sitting out chatting etc this evening in Southern Spain enjoying 26 degree warmth luvly jubly! I'll probably be down there again in January, their daytime temperatures too hot for me now. But am glad you are enjoying it :-D Link to comment Share on other sites More sharing options...
peter21 Posted August 15, 2014 Share Posted August 15, 2014 Tracker - 2014-08-11 2:07 PM Sorry folks - it's not motorhome related - but we need to know - is there a better way to repatriate a lot of Euros from either a Spanish bank draft or Spanish bank a/c to a UK bank a/c? From Spain, Sabadell in Spain want to charge .35% with no upper limit and Smile in the UK will take an incoming transfer at no charge but their exchange rate today is an ungenerous 1.2755 EUR to the GBP. In the UK, Smile will process a Euro bank draft or cheque in the UK for .25% with a maximum of £60 but the same exchange rate applies. That exchange rate looks like it is about 2% off the better rates being bandied about the internet - we just need to find out how best to get a good rate? Many thanks. There must be a better way? We have used UKForex for several years and found them to be good. The exchange rate gets better with bigger sums and there is an easy interface to tell you exactly what rate you will be getting, updated in real time, before you commit. Link to comment Share on other sites More sharing options...
Guest JudgeMental Posted August 16, 2014 Share Posted August 16, 2014 Whoever you use just make sure they are FSA regulated, and watch out for fake/mirrored websites that imitate real brokers. Same goes for talking on the phone....... Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.