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05/05/2009, 10:47 Wibblywobbly Joined on 23/08/2004 Posts 75 Best Money Transfer company I am going to need to transfer a tidy sum of cash to my French Bank account soon, to pay for renovations. I have looked through the forum and see that various banks and agents offer similar services, but I am wondering if there is one that will give me the best rate where I am flexible on when the transfer occurs? I could go through my RBS account as I have done in the past, but in view of the sums involved this time (and the dire exchange rate) I am looking to get the best value and the lowest charges I can find. Has anyone got any recommendations? I have just read this on the web re the Nationwide 'no charge policy: http://www.dailymail.co.uk/travel/article-1171890/The-Crafty-Traveller-How-avoid-burned-abroad-plastic.html For years, Nationwide (0800 302 010, www.nationwide.co.uk) has imposed no charges whatsoever on foreign transactions made on its Visa credit card. However, it recently decided to abandon this blanket no-fee policy and pass on to customers the charge that Visa makes on card issuers. This means that from May 6, for transactions made outside Europe, there will be a fee of around one per cent. Consumer bodies have slated Nationwide for this partial change of heart. But, to be fair, the one per cent fee is still much lower than the 2.75 per cent levied by most other card issuers. Moreover, paying for things with a Nationwide credit card in Europe will remain charge-free, since Visa imposes no charge on transactions made there. ..it seems the Debit Card is unaffected. ..Citibank offer a Euro bank account and no withdrawal charges. Regards Rob G www.hitenter.co.uk If money makes people happy then why do poor people smile?    Report

05/05/2009, 11:28 Maricopa Joined on 01/10/2007 Minervois, Hérault Posts 782 Re: Best Money Transfer company And your point is?  Wibblywobbly wrote: I have just read this on the web re the Nationwide 'no charge policy: This means that from May 6, for transactions made outside Europe, there will be a fee of around one per cent. My bold italic red. Maricopa Never assume anything, it only makes an assofuandme    Report

05/05/2009, 13:31 Andyphilpott Joined on 23/08/2004 Kent and Collobrieres Var Posts 237 Re: Best Money Transfer company There are several good money brokers out there who will do this. I have used Currencies Direct 0207 813 0332 when I bought my house  and they were very effecient and easy to use. Minimum payment is around £5000 I think. For small amounts I use Moneybookers.com and  for larger amounts I use http://www.4xcc.com/index.shtm who I have also found to be good. With them you can fix the rate as it moves on the screen which gives you certainty. You just sign up and keep watching it then fix when you think the rate is OK Andy    Report

07/05/2009, 10:49 Department71 Joined on 23/08/2004 london/sanvignes les mines Posts 107 Re: Best Money Transfer company Like Andy I use Currencies Direct for large amounts and Moneybookers for small transfers, as we needed a top up on our account, and I wasn't keen at the moment to transfer a large amount due to the exchange rate I decided to use MoneyBookers just to keep the account ticking over, we transferred £1250.00, looking at our French account this morning the money was there and the rate charged was 1.0952 by Moneybookers, the business rate for yesterday was 1.1322. What do other people think of this rate. Dept71    Report

07/05/2009, 15:00 Payrac-man Joined on 28/11/2005 Gloucestershire&Payrac Posts 72 Re: Best Money Transfer company Hi   Have always used HIFX easy and good rates also they will pay any charges that the recieving bank charges you.   I have no connection with them except as a customer Live long and Prosper    Report

07/05/2009, 19:33 AnOther Joined on 05/12/2006 W of Cahors (46) Posts 6,746 Re: Best Money Transfer company Aussi moi, Made several transfers via Hifx ranging from house deposit and final payment to some smaller amounts, competitive rates, prompt service, no problems whatsoever. Counting down to retirement update: A bright light now beckons    Report

10/05/2009, 10:58 AlexH Joined on 05/08/2008 Posts 11 Re: Best Money Transfer company Hi, I also use HIFX (last 3 years), never a problem, reasonable rates, and for smaller accounts you can now pay by debit card. Also if you are fortunate enough to have a UK registered card you can do the transaction over the net up to a certain amount. I did stray away for one month to another company offering a better rate, but when it came down to it, the "spread" was greater than they had told me, when it came to the actual transaction. Not a disaster, just means I won't use them again. So for me HIFX for the foreseeable future. :)    Report

10/05/2009, 11:33 baypond Joined on 14/06/2007 Gers 32 and Kent Posts 507 Re: Best Money Transfer company For low transaction costs, any of the money brokers will beat the banks hands down. There is probably not too much between any of them. I use World First, however having a couple of different accounts is always useful because you can check for best spreads. There is no shame in asking for a better price from these guys either. Most work on commission, so they will start to try and charge a larger spread if they believe you have become a captive market. I do the same with heating oil companies as well, though in France that is not so easy with so few distributors! Life is too short to be small    Report

17/05/2009, 10:08 Wibblywobbly Joined on 23/08/2004 Posts 75 Re: Best Money Transfer company Thanks for the advice chaps (& chapesses), much appreciated, I will give HiFX a call and see what they can do. Rob G www.hitenter.co.uk If money makes people happy then why do poor people smile?    Report

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