Transfer money from uk to france

(Sarah Goldsmith) #29

Hi, I had a bad experience with - they quote you a rate to draw you in and then, just at the point your need to confirm (having spent time putting all the details in) they drop the rate by around 1% in their favour. When the money arrived it was EUR25 less the confirmed amount. They claim its my bank but my bank says not and I’ve transferred to my bank since without this problem. very annoying, not transparant at all.

(Keith Platts) #30

Use Revolut. You’ll save a fortune. You get the inter-bank rate and can transfer funds very easily, quickly and safely.

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(Mark Robbins) #31

Start up company without a banking licence at the moment. Might wait and see how they do before trusting them with my millions😣

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(stella wood) #32


Mark… you can entrust your millions to me… any time you like… :heart_eyes:

(Keith Platts) #33

Sensible to wait, I suppose. I have been using the “virtual card” for several months now to transfer funds from my UK bank account onto the card, then convert to euros (at the inter-bank rate), then transfer the euros to my French bank account. I was cautious at first, but I have now got a “real card” and use it like a debit card in shops. I reckon I am saving approximately 4% on currency transactions compared with Currencies Direct and the like. This soon mounts up over a few months.

Good luck with your research!



(Thomas Denne ) #34

D[quote=“Platty, post:33, topic:18909”]
was cautious at first, but I have now got a “real card” and use it like a debit card in shops. I reckon I am saving approximately 4% on currency transactions compared with Currencies Direct and the like. This soon mounts up over a few months.

Am I missing something but how can you be saving 4% when CD and TW only charge a fraction of a percent? And how do Revolut survive if they charge nothing?

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(anon71231711) #35

I just checked and at 12 noon Revolut is showing £10,000 = 11,273€, TW is showing £10,000 = 11,292,56€ after fees (exchange rate 1,1333, less 35,68 fees). Hmmm.

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(Keith Platts) #36

The savings derive from the fact that they do not charge commission and give you the inter-bank rate. How they make money I do not know, but it is by far the best way to convert currency I have found. I hope this helps.

(anon54681821) #37

already moved

(anon71231711) #38

I’m still not seeing it Keith. If they are going to give you 11273€ for your 10k,and TW is going to give you 11292€, how is 11273 better than 11292, no matter how the figures are arrived at? Or, do you not have to take the rate it says on Revolut the web page, is there another procedure whereby you haggle and get a better deal? Top image is Revolut, bottom image is Transferwise.

(Thomas Denne ) #39

Revolut currently charges no fees for the majority of its services (but for a capped usage, see “fees” section), and uses interbank exchange rates for its currency exchange on weekdays, and charge a markup from 0.5% to 1.5% on weekends [4][5][6].

This is taken from Wiki and may explain Anna’s lesser exchange rate. Keith’s post is very interesting and Revolut might well be worth a second look.

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(anon71231711) #41

Yes a weekend markup would explain it, thanks for clarifying. I never heard of that before.
So the answer could be Revolut during the week and TW at weekends. You have to keep your eye on the ball to get the best deal, don’t you…

(Keith Platts) #42

I have just remembered that Revolut do charge commission at weekends, but not during week days. Try again tomorrow and compare the rate with a live Forex site such as Please let me know what TW is and I’ll check tomorrow. I was very sceptical at first. If I’m wrong I’ll put my hand up. Let me know how you get on.


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(John Wellum) #43

I registered with three foreign exchange brokers. When I need small sums (< 20000 euros ) I send each an email (one broker now provides online quotes) . There has always been a difference in rates between the three with no pattern i.e. A is not consistently offering a better rate.
If you require a large sum explore a forward contract - you specify the rate and when it can be met the currency is purchased. You then pay part of the cost with the remainder when you ask the broker to transfer. Transfer by my brokers is free, but one of the brokers “borrowed” my euros for almost a week between the date I paid for them and the date they transferred it. Transfer can be to a bank account or a notaire (i.e. to an IBAN/RIB) and normally takes less than half a day between notifying that the transfer has been actioned and appearing in the recipients account. Payment to the broker for the currency can be made by electronic transfer .
Both the english bank and french bank may impose limits on the amount that you can transfer in a single transaction.
There have been a number of threads exploring banking in France. In theory a euro account in country A should be good in country B. But the cost of the account differs from one country to the next

(James Higginson) #44

Everyone has their favourite, I always use TORFX for sums over £1000

TransferWise for the rest

I would like to mention that if you use either of them we receive a commission, it does not cost you any more than approaching them directly and helps us run the site and keep it free for you :slight_smile:

(Mary Wolcott) #45

Hi James, so if I use TORFX how do I make sure they know you are to receive the commission?

(James Higginson) #46

If you sign up with them using any of my links or if you speak to them just mention SF. Thanks :slight_smile:

(Mat Davies) #47

I have been having a look at Revolut - for unlimited FX payment amounts you need their premium account at £6.99 per month on the basic (free) account you are limited to £5000 of FX per month. 0.5% charge for payments over £5000 if using a basic (free) account.

The premium account could be worth having if shifting bigger sums - ie for a house purchase or renovation works.

As pointed out previously there are additional fees if making FX transfers at the weekends.

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(Mary Wolcott) #48

Hi again James, sorry but just realized: I’d be transferring from US, not UK; to France. What’s your thought, will this hinder my success with TorFX or TransferWise? You might not have any experience with this of course but thought I’d ask just in case .

(James Higginson) #49

They both offer USD/EUR currency pairs so I don’t envisage any issues :slight_smile:

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