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Title: Transferring Cash Abroad Post by: Bob's Orange on Thursday, June 23, 2016, 10:20:49 Fellow TEF people.
I want to transfer some money from my UK Bank account to my Luxembourg Bank Account. I have seen ads for a number of companies that have been setup to minimise costs etc. Anyone used any of these and can make suggestions? Thanks in advance Title: Re: Transferring Cash Abroad Post by: michael on Thursday, June 23, 2016, 11:04:03 Look into whether both your British and overseas financial institution can send and receive "SEPA" payments.
SEPA is a payment-integration initiative of the European Union. https://en.wikipedia.org/wiki/Single_Euro_Payments_Area (https://en.wikipedia.org/wiki/Single_Euro_Payments_Area) You may need to do it today though... :) Title: Re: Transferring Cash Abroad Post by: Reg Smeeton on Thursday, June 23, 2016, 11:11:22 Look into whether both your British and overseas financial institution can send and receive "SEPA" payments. SEPA is a payment-integration initiative of the European Union. https://en.wikipedia.org/wiki/Single_Euro_Payments_Area (https://en.wikipedia.org/wiki/Single_Euro_Payments_Area) You may need to do it today though... :) Sounds like BO is in the know, and getting in before the banks crash....I'm off down NatWest with a sack now :) Title: Re: Transferring Cash Abroad Post by: Samdy Gray on Thursday, June 23, 2016, 11:14:27 Surely your UK bank can do a SWIFT payment?
Title: Re: Transferring Cash Abroad Post by: michael on Thursday, June 23, 2016, 11:16:55 Are you laundering your ill gotten gains BO?
Title: Re: Transferring Cash Abroad Post by: Bob's Orange on Thursday, June 23, 2016, 11:21:47 Surely your UK bank can do a SWIFT payment? Probably. For some reason I presumed there would be a large bank charge. I'm just dipping my toes in the water so wondered if anyone here knew if it was beneficial to use these companies setup specifically to transfer money. I'm sure I can just transfer online using my IBAN but assumed there would be a charge. Are you laundering your ill gotten gains BO? Something like that Michael! Title: Re: Transferring Cash Abroad Post by: horlock07 on Thursday, June 23, 2016, 11:26:02 Something like that Michael! I had to pay some money to Holland earlier in the year and just took the paperwork into Nat West, if was only about 60 euro but the charges were quite steep! Title: Re: Transferring Cash Abroad Post by: michael on Thursday, June 23, 2016, 11:28:23 A SWIFT payment is an overseas wire transfer, fees are about £20 I think, might not be universally that low or high.
I was told about SEPA the other day and these are - or will be - same day (similar to a faster payment), not sure about fees though. Title: Re: Transferring Cash Abroad Post by: Bob's Orange on Thursday, June 23, 2016, 11:30:52 I had to pay some money to Holland earlier in the year and just took the paperwork into Nat West, if was only about 60 euro but the charges were quite steep! I remember when I lived in Luxembourg I got a cheque for my birthday for £50 I think it was. I cashed it in Luxembourg and once it was cleared I think I got a total of £34 after they had deducted charges! Title: Re: Transferring Cash Abroad Post by: Bob's Orange on Thursday, June 23, 2016, 11:32:08 A SWIFT payment is an overseas wire transfer, fees are about £20 I think, might not be universally that low or high. I was told about SEPA the other day and these are - or will be - same day (similar to a faster payment), not sure about fees though. Thanks Michael. I'll look into that. Its not urgent, I don't need to make the payment for a month or so, just gearing myself up. I'm hopeful that today's vote will be to remain and the pound will get stronger. Title: Re: Transferring Cash Abroad Post by: Samdy Gray on Thursday, June 23, 2016, 11:36:54 What about PayPal? If you've got both bank accounts linked, you should be able to top-up PayPal from one and then withdraw to the other. You'd be stuck with their exchange rate, but it should be no worse than the bank rate and probably fee-free.
Title: Re: Transferring Cash Abroad Post by: horlock07 on Thursday, June 23, 2016, 11:48:53 Thanks Michael. I'll look into that. Its not urgent, I don't need to make the payment for a month or so, just gearing myself up. I'm hopeful that today's vote will be to remain and the pound will get stronger. I'd get it moved today, I understand that if we vote remain we will be in the Euro by the end of the week? Juts put it in a suitcase and take it over or place in a condom and swallow it? Title: Re: Transferring Cash Abroad Post by: Bob's Orange on Thursday, June 23, 2016, 12:03:16 What about PayPal? If you've got both bank accounts linked, you should be able to top-up PayPal from one and then withdraw to the other. You'd be stuck with their exchange rate, but it should be no worse than the bank rate and probably fee-free. Thanks Samdy. Actually I do have to get paypal setup so I might look into doing that, good idea. I had a look at my bank and their international transfer charge is only £9.50 so that's actually less than I thought it would be. Title: Re: Transferring Cash Abroad Post by: sonicyouth on Thursday, June 23, 2016, 12:38:09 My wife uses transfer wise to transfer money to her Norwegian account
Title: Re: Transferring Cash Abroad Post by: horlock07 on Thursday, June 23, 2016, 13:05:40 My wife uses transfer wise to transfer money to her Norwegian account I didn't realise there was so much offshore laundering going on on here? Title: Re: Transferring Cash Abroad Post by: Bob's Orange on Friday, June 24, 2016, 09:59:32 fuck I wish I had done this yesterday?
Title: Re: Transferring Cash Abroad Post by: suttonred on Friday, June 24, 2016, 10:45:54 I bought a gold bar yesterday (not a big one) and the purchase not related to the EU vote. Easiest money I've ever made in 24 hours :)
Title: Re: Transferring Cash Abroad Post by: Tails on Friday, June 24, 2016, 10:51:35 I had a gold bar with my lunch yesterday... I presume we are talking about different things.
Title: Re: Transferring Cash Abroad Post by: suttonred on Friday, June 24, 2016, 12:36:53 Certainly, the nice man with the sheepskin coat and thin moustache assured me it was genuine and not to believe a bite test was conclusive.
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