Best method to receive euro payment and convert to GBP

[Canopy Locked]

Boat has sale agreed and will complete in the next 2 weeks

Current bank (BoS) does not offer euro accounts - will be receiving a large euro payment soon and there's potentially a big spread in the GBP we'll receive given rates / fees.

the 2 options as I see it are 1. set up euro a/c and then look at the best rate to convert to GBP or 2. Identify a currency transfer provider who has good rates and competitive fees which the buy can use to pay us.

Any advice from folk who have experience in this would be appreciated

 

[Clancy Moped]

TransferWise now called Wise.

 

[Dino]

I’ve used CurrencyFair to buy two boats. Very good rates and you can leave it in the other currency until the rate improves. The only slow bit is putting money into your account as my bank have a €10k per day limit.

 

[starfire]

Revolut
You can always chat with them & tell them you are expecting a large sum & why

 

[TonyR123]

I also use CurrencyFair. Good exchange rates.

 

[markc]

Revolut is very good, the best rates I’ve found.

 

[Ningaloo]

Revolut and Wise are both good.
I think Revolut may have limits on the amount you can exchange free each month. Wise make a charge but in the scheme of things it is minor. Both offer Euro accounts so you can hold the money there and transfer when you like the exchange rate.
I use both and have transferred significant sums with Wise.
Sadly (for me) my boat purchase (in Euros) completed just before the recent decline in the euro and I guess that won't help you either.

 

[DavidJ]

Revolut
I used them for the first time to pay my service fees and was amazed that their rates were very close to market rates. I don’t know how they make any money. I regret not finding them earlier, I would be hundreds ahead.

 

[Seastoke]

You could send it to me and i wont charge you for spending it , i am top of not trust pilot.