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Transfering money abroad - Best rates?
The Prince-e-Paul
Posts: 6,688
So here's the situation. I'm planning on buying a house in Sweden and have the cash. I plan to transfer it to either the broker directly or my wife's Swedish bank account then pay across from there. For the uninitiated in Sweden there are no solicitors used in property purchases, only a broker who is basically an estate agent that works for both sides.
Anyway. Does anybody have any tips on where to get the best exchange rates for transferring £75,000 or there abouts. Probably 10% up front then the 90% on completion.
Anyway. Does anybody have any tips on where to get the best exchange rates for transferring £75,000 or there abouts. Probably 10% up front then the 90% on completion.
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@The Prince-e-Paul
message me your name and contact details.I work corporate side for moneycorp but can get someone from the private division to call you tomorrow.I believe in the private side there are no additional transfer fees, other than the exchange rate.0 -
Check with @MrOneLung but many expats over here use Transferwise.
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I’d back @Bangkokaddick. I use TransferWise regularly. Good rates and on one occasion when something went wrong they were very helpful.0
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Transferwise. Use them all the time and they ard brilliant0
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Thanks all for postingi_b_b_o_r_g said:Transferwise. Use them all the time and they ard brilliant0 -
I watched a programme about pensions this morning (recorded from last night).
A couple retiring & buying abroad transferred £270K to the foreign exchange company who went bust and they lost the lot.0 -
I have a very close friend who runs an FX brokerage based in Greenwich. Local lad and local business, if you want details please do drop me a message mate.
Fully authorised by the FCA, and they run segregated client bank accounts. In simple terms this means, as above has stated.... if they do go bust the client money is always segregated, therefore protected.
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Watched the same programme, would they not get any of thier money back.Covered End said:I watched a programme about pensions this morning (recorded from last night).
A couple retiring & buying abroad transferred £270K to the foreign exchange company who went bust and they lost the lot.0 -
Another here for TransferWise. I send money to me mum every month, never had any bother and it’s done quickly without any problems.0
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No, because they said the administrators couldn't recover it.clb74 said:
Watched the same programme, would they not get any of thier money back.Covered End said:I watched a programme about pensions this morning (recorded from last night).
A couple retiring & buying abroad transferred £270K to the foreign exchange company who went bust and they lost the lot.
Presumably, they didn't they run segregated client bank accounts, meaning if they do go bust the client money is always segregated, therefore protected.
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Saw the same programme (part2 tonight, channel5, 9.15pm). From memory, fca still investigating and may yet get money back, but damage done. The couple had to move from Bristol to a cheaper area and give up on their retirement dream abroad.Covered End said:
No, because they said the administrators couldn't recover it.clb74 said:
Watched the same programme, would they not get any of thier money back.Covered End said:I watched a programme about pensions this morning (recorded from last night).
A couple retiring & buying abroad transferred £270K to the foreign exchange company who went bust and they lost the lot.
Presumably, they didn't they run segregated client bank accounts, meaning if they do go bust the client money is always segregated, therefore protected.
Apart from the segregated accounts thing, can't you take out an insurance when tranfering money to cover something going wrong? I remember paying my bank £30 for a large transfer connected to a property purchase a few years ago.0 -
£30 was probably the charge to make the (CHAPS) electronic transfer.swords_alive said:
Saw the same programme (part2 tonight, channel5, 9.15pm). From memory, fca still investigating and may yet get money back, but damage done. The couple had to move from Bristol to a cheaper area and give up on their retirement dream abroad.Covered End said:
No, because they said the administrators couldn't recover it.clb74 said:
Watched the same programme, would they not get any of thier money back.Covered End said:I watched a programme about pensions this morning (recorded from last night).
A couple retiring & buying abroad transferred £270K to the foreign exchange company who went bust and they lost the lot.
Presumably, they didn't they run segregated client bank accounts, meaning if they do go bust the client money is always segregated, therefore protected.
Apart from the segregated accounts thing, can't you take out an insurance when tranfering money to cover something going wrong? I remember paying my bank £30 for a large transfer connected to a property purchase a few years ago.0 -
Have just checked the paperwork, and you are right. It was a charge. I would have been happier if it was an insurance fee!Covered End said:
£30 was probably the charge to make the (CHAPS) electronic transfer.swords_alive said:
Saw the same programme (part2 tonight, channel5, 9.15pm). From memory, fca still investigating and may yet get money back, but damage done. The couple had to move from Bristol to a cheaper area and give up on their retirement dream abroad.Covered End said:
No, because they said the administrators couldn't recover it.clb74 said:
Watched the same programme, would they not get any of thier money back.Covered End said:I watched a programme about pensions this morning (recorded from last night).
A couple retiring & buying abroad transferred £270K to the foreign exchange company who went bust and they lost the lot.
Presumably, they didn't they run segregated client bank accounts, meaning if they do go bust the client money is always segregated, therefore protected.
Apart from the segregated accounts thing, can't you take out an insurance when tranfering money to cover something going wrong? I remember paying my bank £30 for a large transfer connected to a property purchase a few years ago.0 -
You recorded a programme about pensions?????Covered End said:I watched a programme about pensions this morning (recorded from last night).
A couple retiring & buying abroad transferred £270K to the foreign exchange company who went bust and they lost the lot.
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moneycorp clients' funds are fully safeguarded / ringfenced.0
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My old man recently purchased a property in Sweden, transferring the funds from the UK. I will ask him in the morning for you0
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We use Foremost Currency for regular transfers to Spain, usually very good rate and they charge a flat rate of £10 for each transfer, whatever the amount....0
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Have a look at WorldRemit0
