How to minimise currency fees from foreign payments??

[amir_j]

Hello,

There is a good chance I will be working in the Uk via my Ltd company but being paid by a Swiss company by swiss bacs transfer in Swiss Francs say between 15k-25kCHF a month

a) If this is done as a bog stadard transfer im assuming will get hit by all sorts of hidden fees- anyone know how much % as guessing 1.5%-3.5%?
b) anyone know any better, reputable methods?

Many Thanks

Edited by amir_j on Monday 29th September 16:15

[timskipper]

Open a Euro account?

Edited to :belm: at self.

Err, open a CHF account?

Edited by timskipper on Monday 29th September 17:32

[amir_j]

timskipper said:

Open a Euro account?

Edited to :belm: at self.

Err, open a CHF account?

Edited by timskipper on Monday 29th September 17:32

lol, but then the Uk side will take as much as they can. Rather find soem kind of specialist broker to whom they pay CHF and I get pounds.

[Neil135]

I use Alliance and Leicester seem to give me a above average rate and charge £5 per transaction which is the lowest i have found. Its web based and needs setting up but have a look https://www.internationalpayments.co.uk

[2something]

There are a couple of threads in the pie and piston on this, I can't remember the names but there are lots of places that do this at a competitive rate.

Banks would probably charge you between 2-4% which is an absolute joke. You should be able to get a rate about 0.10% from the real market (check it on oanda.com or somewhere like that) and you will probobably be charged a 10-15 quid transfer fee as well.

[ninja-lewis]

Nationwide Flex Account? AFAIK they don't charge for currency exchange although I have no idea what their rates are like.

[Seany88]

ninja-lewis said:

Nationwide Flex Account? AFAIK they don't charge for currency exchange although I have no idea what their rates are like.

I have a Flex account for travelling, their exchange rates are reasonable but they're not published anywhere AFAIK so you only get to find out after

[Buffalo]

From vague memory... Citibank here in Aus do a nominated dual-currency account (e.g. US$ - AUS$). You can transfer money either way as an investment tool. If you could find a pound-euro version, what about something like that..?

[VetteG]

This is the recomended site from Pie & Piston http://www.hifx.co.uk/
I took a note of it since I am about to be paid for a job in Euro's.

G