Is IBAN enough for an international transfer?

Interesting, he did send me a copy of the form he was asked to fill in and there was definitely a requirement to put in a sort code.
Anyway, he sent me the money to UK and I got TorFX to tell me how many pounds they wanted for 600 euros and all was done and dusted.
Then, a couple of hours later I realised that I had omitted to send the money to TorFX. :astonished:
Not a big problem as they give you 24 hours I think, holding the rate, but just something else for an old geezer to worry about. :roll_eyes:

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If you donā€™t mind my asking, how much did they want? Always interested in exchange provider rates.

Ā£524.57 on revolut at the mo. (for 600ā‚¬)

ā€œthey give you 24 hours I think, holding the rateā€

Edit - Is that all the time? - that would be useful as a free hedge, tomorrow we could be sub 1.14 to the pound.

ps when the pound plummeted last time (to 1.15 haha) I signed up to western union and got a + 2 cent rate - seems itā€™s only a one time offer, but it was up to Ā£10,000. I didnā€™t realise it was a one time offer so only did 500. My cautionā€¦

Further reflecting edit -

Apologies David, Iā€™m coming across as an exchange rate wonk and of course itā€™s your family visiting. I wish all of you a happy xmas visit, it will be wonderful. I have read your posts re. your love and would like to hold you both in my heart. I havenā€™t said that so far and I should have and do so now. Your posts about your thoughts on the current war I also hold as mine.

You make me realise itā€™s not money. Best.

Thank you for the kind words, just plodding along as well as I can, I get angry about events inside, and outside, the home, but thank goodness I never throw anything breakable at anything or anyone breakable either, but limit my fury to screaming at the tv or more often the radio. :rofl:

As to your question, the rate TorFX gave me was 1.1436 which translated to Ā£524.66 for ā‚¬600. I only did the exchange because my son needed it doing right away so I could pay our friends for the rental of their house, tomorrow, at the memorial.

Otherwise I would wait, and am waiting, for much better and fortunately am able to do so by having pensions in both countries so the respective bank balances are, well, balanced at the moment.

There are, of course, no charges for that transfer, they make their money by quoting a penny or so below the current rate, which suits me fine. They were easy to sign up to and, as long as I remember to pay them ( :roll_eyes:), are very quick and easy to deal with. :smiley:

Edit: Sorry, forgot you asked about the 24 hours. I donā€™t know if that is the case but I think it is. It doesnā€™t matter to me as normally I do the whole thing including the payment to them within the same 5 minutes. I simply forgot this time. :worried:

Thanks for the comparative info. I requested a ToRFX quote and they phoned and got me signed up. Looking at the rate it is a bit below revolut and a bit above wise - so as rev is 1K / month Iā€™ll keep on using that but keep ToR FX in mind for larger purchases - although one has to consider just ponying up the rev. monthly fee for unlimited transfers.

In a way itā€™s good you did your transfer yesterday coz ToRFX is giving me 1.1386 just now.

Iā€™m thinking Iā€™ll pay the remaining taxes from the France euro reserves now. We may wait long for a better rate now though, although as someone said, the predictions donā€™t seem to be worth anythingā€¦

10 days ago pound sterling live had Rabobank predicting around 1.163 ā€˜in the next couple of weeksā€™.

UBS has 1.1363 for xmas and Goldman Sachs a chilly 1.11

Do you have a ā€˜recovery rateā€™ in mind? At the moment 1.15 seems to be a consensus.

Here was my TorFX / Rev comparison for info.

Diff
Live 1.14344
TorFX 10K 1.1387 0.00474
Rev 1.1417

I previously calculated wiseā€™s difference at 0.00518