Buying the boat in the Med Best Way to Transfer Euros from UK ?

[Roissy]

Hello all, not sure which Forum is best for this question. I am looking at buying my boat in The Med and need to consider the best way of transfering funds in Euros from the UK. I know that UK Bank transfers will not be the best exchange rates and/or fees and am investigating the Daily Telegraph International Money Transfer Servcie. If anyone has recently researched and made a decent sized payment in Euros I would appreciate any and all advice.

Many thanks

 

[sailorman]

A 3rd post on the same subject

 

[Thedreamoneday]

Hello all, not sure which Forum is best for this question. I am looking at buying my boat in The Med and need to consider the best way of transfering funds in Euros from the UK. I know that UK Bank transfers will not be the best exchange rates and/or fees and am investigating the Daily Telegraph International Money Transfer Servcie. If anyone has recently researched and made a decent sized payment in Euros I would appreciate any and all advice.

Many thanks

Hi pal,

I've recently used a company called MoneyCorp, excellent rates and very quick. It'll take a couple of days for their money laundering checks but then it's simple.

Much better rates than banks.

Cheers

 

[Roissy]

Sorry was not really sure of the best Forum to get a response, is it against protocol ?

 

[Gwylan]

Try Matt at currencyindex.co.uk, they were very helpful when we had to make a similar large movement in the other direction.

 

[Tranona]

Sorry was not really sure of the best Forum to get a response, is it against protocol ?

As you will see, you will get responses from all of the forums on a generic question like this. You would also get similar responses on the MOBO forum. Not a good idea to post on more than one as the responses can be confusing.

 

[jordanbasset]

I recently used these - http://transferwise.com/

Very good experience of them, very simple to use and got a good rate of exchange and free transfer. Was 'recommended' by a friend hence the free transfer costs

 

[nauticalnomad]

I transfer money often as I don't get paid in GBP, I usually try all the transfer companies and then go back to my bank and tell them transferwise is offering X amount and the bank betters it or matches it. That way its just a bank transfer.

 

[ITH]

We have used - and been happy with - Currency Fair, for some years https://www.currencyfair.com/
Their exchange rate this morning is 1 GBP = 1.4177 EUR, and the fee is minute (last exchange we made cost 3€.
If you fancy your chances as an exchange rate guru, you can also 'buy' €s at the best exchange rate and hold them in your account until transfer time, or deposit your £s and ask for them to be exchanged only when the rate reaches your chosen figure.

 

[jimbaerselman]

Currency transfer is a highly competitive business, and there must be 20 to 40 reasonable scale currency dealers in business. Nearly all people who have used a dealer will praise his dealer's service. That's a reflection of competition - they're all so much better than banks for speed of service, flexibility and rates. The rates comparison can be seen if you look at:
http://www.moneysupermarket.com/current-accounts/international-money-transfer/personal-transfers/?goal=IMT_PERSONALTRANSFERSMEDIUM

Note the exchange rate difference quoted between banks and currency dealers.

Moneysupermarket and other comparison sites have limitations too . . . you have to ask who pays for exposure on the site . . . and who doesn't.

 

[RAI]

Another vote for CurrencyFair. Their instant rate may not be quite the best but their fees are only 3 euro / squid. They also offer a mini market place, which I use to get the best rates given a little patience. Then transfer directly into the vendor's account.
After setting up, transfers normally take one day, own account to destination account.