We used HIFX for 12 years, transferring our pensions into euro (CA) a couple or three times a year. But we now use TorFx. Was easy to set up, they give a good rate (but we always select a time to do it which we regret a few days later!). No charges by CA.
Thanks Susan, any thing is helpful compared to what I’ve been charged. A lot of people have recommended Transferwise so have done a trail run today, got a good exchange rate 1.1230 so I’ll see if it’s in my bank in the morning and if I’ve been charged anything!
Hi,
Yes Torfx good, although we’re more complicated on a US transfer. I think HFIX biggest and consequently best exchange, but I’m sure they fluctuate. Much better than mainstream banks, I’ve never heard of Transferwise but that’s a good rate !
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Open an account with Revolut. Spot rates, no commission and no transfer fees. I’ve been using them for 4 years, never a problem. Takes about 20 mins to open the account.
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Do you mean to direct this to me John? I’m very happy with Transferwise - have been for years. Graham has been extolling the virtues of Revolut so I’m well aware of what it offers - each to our own.
my suggestion wasn’t directed at anyone in particular. Transferwise is a very good service it’s just a bit more expensive.
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Here’s a link to the previous CA charges. I can’t find a 2021 version to see what has increased, but international payments have a cost to them and there is a difference between EU and non EU.
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I’d put forward the hypothesis that the 3E fee was the (more or less standard rate) SEPA transfer fee. The bank should’ve been charging commission on any GBP/EUR conversions, unless their T&C’s said otherwise, or unless your bank adviser had waived them for you. Perhaps your French bank considered the UK to be in the SEPA exchange system (which it wasn’t), or perhaps your UK bank transferred the funds via a EUR SEPA clearing account, which to your French bank would have looked liked the transfer was a SEPA one, and thus only charged you the the SEPA fee.
FWIW, the Caisse d’Epargne has always charged me commission for EUR/GBP transfers (business transfers), and vice-versa. I’ve been told by colleagues that the SEPA fee can actually be negotiated downwards if you are a heavy user of the system, and a welcoming ear with your bank advisor.
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CA 2021 charges,
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We used HSBC (one account in France and one in the UK) just for this issue as they are the only bank which transfers from country to country without charges. Does this help?
And, if I’m not mistaken a poor exchange rate.
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Apologies if somebody has already mentioned Moneycorp - they don’t charge and are extremely efficient.
Hi Tracy, we always put a years money over in one go, it works out cheaper. Our bank in the U.K. charge £9.50 each time we send money over so we just decided to do it once!
If you are able to send larger amounts I would recommend it!
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Have a look at TransferWise or Revolut and see how you get ripped of for bank charge and conversion rates by UK banks.
As transfers are free with so many providers now it doesn’t matter how many transfers you make.
Thanks Lesley, After all the advice yesterday I did a trail run with transferwise and bingo no charges, I go € 1.1230 to the pound and also checked my bank and they were offering €1.07. I was so pleased when I checked my French bank this morning to see no charges. All I had to pay was 0.54p. I’ve now ordered their debit card as I have 2 bills not on direct debit and I’m certainly not going to pay charges again lol. Give it a go
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Have a look at using a Starling bank account to get sterling to Euros and then just transferring euros to CA. Strictly speaking you’ll have two Starling Bank accounts and transfers between them are usually free and reasonable for large amounts.
Oops, not zero fee, sorry But if there is a better way I’d be pleased to know it.
a) how did that compare on that day to alternatives
b) is “delivery fee” for having cash delivered?
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The comparison was done on their sites 25 min ago.