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5lab

Transferring Euros Into Pounds (Buying Sterling)

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Hello all

irrespective of future growth, investment potential etc, my better half has some income coming in (approx €400/month) into a french account, in Euros, that she needs to be able to spend in Pounds. She's able to wait a few months and transfer, say, €1200 a time, but that's probably the most. What's the most cost effective way of doing this? I figure with you guys all trading currencies there must be a way of avoiding the ~10% spread you'd get hit by just withdrawing cash on a card, or just going to a standard holiday money place? or is the amount too small?

Thanks for your help

Hugh

Edited by 5lab

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Hello all

irrespective of future growth, investment potential etc, my better half has some income coming in (approx €400/month) into a french account, in Euros, that she needs to be able to spend in Pounds. She's able to wait a few months and transfer, say, €1200 a time, but that's probably the most. What's the most cost effective way of doing this? I figure with you guys all trading currencies there must be a way of avoiding the ~10% spread you'd get hit by just withdrawing cash on a card, or just going to a standard holiday money place? or is the amount too small?

Thanks for your help

Hugh

I use these chaps...they're good, you can do ita ll online and they're much cheaper than a bank..

http://hifx.co.uk/

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I'm quite surprised by the 10% hit on cash-withdraw using a UK bank-machine with a foreign card. My dutch bank doesn't charge for foreign cash-machine transactions and the exchange rates are good....so part of the answer might also be to simply look for a French bank that offers a better/cheaper service?

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Hello all

irrespective of future growth, investment potential etc, my better half has some income coming in (approx €400/month) into a french account, in Euros, that she needs to be able to spend in Pounds. She's able to wait a few months and transfer, say, €1200 a time, but that's probably the most. What's the most cost effective way of doing this? I figure with you guys all trading currencies there must be a way of avoiding the ~10% spread you'd get hit by just withdrawing cash on a card, or just going to a standard holiday money place? or is the amount too small?

Thanks for your help

Hugh

I use UKForex.com Have been very good and the spreads are much lower than banks/credit cards etc.

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What about setting up both a sterling account and a euro account with the bank of scotland offshore.?

We use them and if your transfering money between accounts held with them i don't think they charge anything. They also don't charge for using the cash machines abroad, when you take out the currency which is in the account. ( via your debt card)

We live in Cyprus and use three different currencies and have found this the best way. B)

Edited by audi tt

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  • 153 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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