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Money matters

Transferring 10-12k in Euros to UK

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Transferring 10-12k in Euros to UK

Postby Imani » Thu 4 Jul 2013 14:15 GMT

Hello,

Please can anyone recommend the most cost-effective way to transfer around 10-12,000 euros from a Spanish bank (La Caixa) to the UK. Transferring money from La Caixa directly into a UK bank would incur unfavorable rates and commission. La Caixa's rate for SEPA payments (with full data identification) is 0.40% of the transaction amount.

There seem to be two main options:

PAYPAL: La Caixa (incurring payment for SEPA?) -> Paypal account in euros -> Barclays Euro Account in UK -> Currency Club (or similar) to transfer euros to GBP.

Paypal say: "As a buyer, we will not charge you to use PayPal unless it involves currency conversion.”

10,000 euros La Caixa – 40 euros (La Caixa SEPA payment comission) = 9960 euros converted into GBP via Currency Club Buy Back service: £8,369.75

TRANSFERWISE:

10,000 euros - 40 euro commission = 9960 converted by Transferwise = £8,486.

Are these calculations correct?

Another site recommends using an app such as Azimo, O2 Wallet or Barclay's Pingit but I don’t know anything about these options.

Your advice and/or suggestions would be much appreciated.
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Imani
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Postby LEAR1234 » Thu 31 Jul 2014 13:35 GMT

Imani, the post is timely. I have literally today done a very sizeable euro transfer back to the uk, from a Spanish la Caixa account. I spent weeks investigating best brokers and finding a way to circumvent their .4% charge.

I'd be very happy to share the intel with you, but much easier by phone. Do you have a number I can contact you on? I'm afraid I can't be PM'd as I'm not a premium member.

Cheers

Laurence

Ps. This is a genuine offer to extend the info I painstakingly learnt. I'm not a broker and I'm not affiliated or otherwise representing one.
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Transfer

Postby Imani » Thu 31 Jul 2014 14:57 GMT

Hi Lawrence,

Thanks very much for your message - it'd be great to speak through the transfer issue directly.

If you can send me an email, we can exchange numbers that way:

bethmeriam at gmail dot com

All the best and hasta pronto,

Beth
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Imani
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Joined: Wed 17 Apr 2013 07:43 GMT
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