Hello,
I have funds in stocks in the UK. I have been told that I can only receive the interest in a UK bank account; by some of the companies. Which I was obliged to close because of Brexit!
Any advice on how to transfer my funds to my french bank account? Thank you in advance.
Try Revolut
I think most people here would suggest one of the new generation of banks such as Wise which specialise in this sort of thing.
Welcome to SF Prunelle!
Yes I would think Wise should work - you get a UK sort code so I don’t see why that would be a problem for receiving payments.
Wise is not technically a bank - it’s a money transfer service - but you can hold a balance with them in a variety of currencies and also spend money direct from the account (again in multiple currencies) with their VISA card. They keep your money separate from their operating funds and don’t lend it out like banks do - they make their money from currency transaction fees (which are still cheaper than UK banks charge).
Although they are reputable and I’ve used them for several years, I wouldn’t keep large amounts in my Wise account just in case, but for moving money from A to B they are very handy.
I have no connection with Wise other than as a happy customer but here is a referral link for Wise which gets you a fee free transfer of up to £500 :
Quite, as they are not part of the FSCS so you don’t get the £85k protection should things go pear shaped.
Thank you for the information. I will get in touch with Wise.
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No, but they do ring-fence client funds and also keep a fair amount of dosh in cash and government bonds so your money is probably safer than in a biscuit-tin under the bed. 