Cheapest way to convert euros to gbp?

Soldato
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My parents have just sold their house in France. The money is sitting in a French bank account for now, but they want to transfer it to gbp and move it back into the UK. Any tips on the cheapest way to do this?
 
Soldato
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Ive been using transferwise a few years now. Dunno about cheapest but I've never had an issue even with some large 6 fig machinery purchases.
 
Soldato
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Wouldn't it be cheapest to do a bank to bank transfer?

I noticed when I used to convert money from pounds to dollars, some banks have agreements with other banks in other countries that will give a discount on transaction fees. It might be worth seeing if there is a similar case in this situation.
 
Soldato
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Wouldn't it be cheapest to do a bank to bank transfer?

I noticed when I used to convert money from pounds to dollars, some banks have agreements with other banks in other countries that will give a discount on transaction fees. It might be worth seeing if there is a similar case in this situation.
Almost always, no. The may have "no fees" but they chose the exchange rate.

You want a specialist forex company like Wise.com
 
Soldato
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pretty sure the post office would give u a better rate than a bank unless your a special customer

When I first went over to the US I had a arranged for one of those moneygram/western union transactions. That was very expensive.

I ended up contacting my bank and getting a special bank card that give me low transaction fees with certain US banks.
 
Soldato
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I think Liz Truss might be able to manage this for us all in a very short period of time.
I'd hold on a few days if I were you!
 
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Starling allows you to create a Euro bank account that you can then transfer to your GBP account for very little. How that matches up to Wise i'm not sure but I would definitely say it's worth investigating. It's what I used when I was living in Germany for a bit to receive funds from people out there. Whether there are limits as to how much money you can exchange I don't know either.
 
Commissario
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Revolut will probs not be an option as they have limits in place, suspect the house sale was more than the limit?
 
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