New to site, financial query

(tina rogerson) #1

Hmm… Where to start… Hi?! :dizzy_face:. We’ve recently found our ideal renovation project that we intend to use as holiday home for the next three/for years being stuck to school holidays, lengthening the time spent thereafter and possibly living full time after that…
Anyway… Reason for query… We are spending the grand sum of thirty thousand pounds. I have quarter in my account, my OH has quarter in his… The remaining half is being gifted to us by my parents… So… How do I best go about collating it all together and into a French account in readiness of the acte de vente? Thankyou xx

(David Martin) #2
  1. Open a French bank account.
  2. Look online at the various FX companies that make moving and exchanging currencies straightforward and affordable.

I will be the first to point out that buying a renovation property is not the end of needing a reasonable supply of cash.

2 Likes
(Mark Robbins) #3

Get the money into one UK account and transfer (as D M says using someone like transferwise) the exact euro amount direct to your notaire.

(Chris Kite) #4

Ditto to Mark and David. It’s also worth noting that if you choose an FX company and then find that on the day you wish to transfer the money another FX company is offering a better rate, you should ask yours if they’ll match it. It worked for us.

(Paul Flinders) #5

You’ll need a French bank account anyway. We use Britline

(James Higginson) #6

If you get in touch with TORFX, mention Survive France and our account manager will advise you on the best approach, hope all goes well.

http://www.survivefrance.com/t/the-smart-way-to-transfer-currency/11230

James

1 Like
(Lesley Ngatai) #7

me too i used TOrFx since i’ve arrived in France in May this year 2017. I have an account in Australia that my benefit goes into and i transfer about $4000AUD to my french account : I lose 1500AUD each time. So I started looking around and realised TorFx is one of those that although it doesn’t charge fees - FANTASTIC!! (I save the $35 fee each month my bank would have charged me) their exchange rate was really low : never getting above .63-64 so in fact i was paying for this and it was TWICE the fee my bank would charge bcos their rate was better : i looked at another company and they charge a sliding fee based on amount sent but their rate is much better .66 so I’m actually 60 euro better off going this way…they are Transferwise BUT i still lose over a thousand dollars…is there any better way?

(Ray Rampton) #8

Hi,
we use HiFX and may use Smart Currency Solutions.

Good luck

1 Like