Sending a significant amount of money from UK to EU Bank - transferwise or otherwise?

Phate

Phate

Phate

Caporegime
Joined
1 Nov 2003
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Location
Lisbon, Portugal
Hi all,

So in the past when sending money from £ to € and vice versa I have and regularly use transferwise. It's fast, painless, exchange rate seems excellent and has overall saved me a lot of money in terms of bank fees etc

In the not too distant future, there will likely need to be a transfer of some 20-25k from £ to € - so before defaulting to transferwise, I wonder if there is anyone with experience of sending this much and if so, which method did they use? :)

TIA
Jake
 
I always use transferwise: it wouldn't surprise me if others offer better rates between £ and € but as I need £, €, $ and MX$ I haven't found any other service that can compete with it.
 
The exchange rate is the daily rate plus a modest fee so you will be hard pushed to beat it. You shouldn't have any issue transferring that amount from TW but check if your receiving account has any daily limits first.
 
geekman said:
I always use transferwise: it wouldn't surprise me if others offer better rates between £ and € but as I need £, €, $ and MX$ I haven't found any other service that can compete with it.
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bimbleuk said:
The exchange rate is the daily rate plus a modest fee so you will be hard pushed to beat it. You shouldn't have any issue transferring that amount from TW but check if your receiving account has any daily limits first.
Click to expand...

Cheers! I did look and checked TW along with some competitors. Transferring 25k from £ to € works out around €27.7k through TW inc the €80 fee deducted for their cut. The others had a lower fee but not as good an exchange so it seems like TW is the way to go on that one so far.

Good shout on checking with the bank. I will send them a message to find out.
 
I’ve used Smart Currency Exchange in the past and they were close to Transferwise in terms of rate/commission, but you need a fair bit of email traffic to get the transfer done.

Their USP for me was that they’d dealt with the Notaire that I needed to send money to before.
 
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