UK Money Transfer

km991148

Hi,

I see a couple of older threads on this but want to know the latest recommendations please!

Whats are the best f/x companies (based on price and reliability) for transferring money from Irish bank to UK bank (both accounts held by me).

I currently use my Irish account directly for small amounts but this time would like to xfer a few thousand euro (wish I done it before the start of the year due to exchange rates plummeted doh!)

A quick google brings up transferwise - but I have never heard of them (or other companies!)

Thanks for any info!

Cheers,
km

3DataModem

Transferwise are bang on. Done almost 100k through them in last couple of years.

km991148

cool - how does it work on the otherside?

i.e. I guess the money hits the UK account from another normal UK account?


My UK account charges money to receive international funds (as well as the cost of sending!)

km991148

Also - does paying by credit card incurr a cash advance fee?

dobsdave

km991148 wrote: »

cool - how does it work on the otherside?

i.e. I guess the money hits the UK account from another normal UK account?


My UK account charges money to receive international funds (as well as the cost of sending!)

The money will transfer from a UK bank to your UK bank, so there shouldn't be a charge.
However different companies use different systems to transfer.
I stopped using currencyfair and switched to transferwise as CF use the CHAPS system which my UK bank (BOI) charged a min 5gbp per transaction to receive money.
I never tried using a credit card to lodge money, I do know its treated as cash from my debit card.
Also Transferwise add a credit card charge for the privellege.

jimmii

I use currency fair similar sort of service its a flat rate of €3 when you transfer funds off the site. If you aren't in any rush to move the money then if you go on the sell side you get a slightly better than market rate which always feels good! I've used them for the last few years as with most things its pretty slow on the Irish side but the UK side the money moves very quick. I haven't incurred any additional fees on either side so far I use Clydesdale over there mostly.