Shifting some money overseas...

Shifting some money overseas...

Author
Discussion

Stevanos

Original Poster:

700 posts

104 months

Friday 23rd January 2015
quotequote all
I have £5K I want to transfer from my UK bank account to my Swedish bank account, what is the best way to do this in terms of getting the best deal on the currency exchange?

Any ideas?

Thanks in advance.

Xaero

4,011 posts

182 months

Friday 23rd January 2015
quotequote all
Never sent money to a Swedish bank account but I find currencies direct usually are the cheapest for sending money to my Japanese and Australian accounts. They seem a bit dodgy at first as you have to go through another website called iPayFX, but have usually been the best for me.

TorFX is another company that does it this way, but Currencies Direct usually beats them.

Maybe different for European banks though, so get some other suggestions first.

terenceb

1,488 posts

138 months

Friday 23rd January 2015
quotequote all
I can highly recommend FC Exchange.Very fast transfers, it took around three hours for them to transfer our funds.No fee's charged because the transfer happens on the back of much higher sums of money also giving the best exchange rate.They will text/mail you to give the latest update on progess.
Excellent people to deal with.

Stevanos

Original Poster:

700 posts

104 months

Friday 23rd January 2015
quotequote all
Thanks guys, also what do people think, should a wait a while as the £ seems to be getting stronger at the moment. I don't need to move straight away but let's say in the next month or two?

terenceb

1,488 posts

138 months

Friday 23rd January 2015
quotequote all
Got a crystal ball? I might be wrong but now steps have been taken concerning the euros slide, how will that affect any other currency.
Cant see the euro slipping much further personally, which is a shame when you still have gbp that gets changed into euros.

Stevanos

Original Poster:

700 posts

104 months

Friday 23rd January 2015
quotequote all
terenceb said:
Got a crystal ball? I might be wrong but now steps have been taken concerning the euros slide, how will that affect any other currency.
Cant see the euro slipping much further personally, which is a shame when you still have gbp that gets changed into euros.
I'm transferring to Swedish Krona!

terenceb

1,488 posts

138 months

Friday 23rd January 2015
quotequote all
Yes , as I thought, but as most money markets seem to revolve around euro/gbp, you never know the outcome.Have you checked A) gbp/krona exchange
rate.B) What interest you would get on your over seas deposit?

Stevanos

Original Poster:

700 posts

104 months

Friday 23rd January 2015
quotequote all
terenceb said:
Yes , as I thought, but as most money markets seem to revolve around euro/gbp, you never know the outcome.Have you checked A) gbp/krona exchange
rate.B) What interest you would get on your over seas deposit?
I'm not concerned about interest as I am going to spend the money quite quickly (getting married)

But if this big Euro bond buying thing yesterday and Greece's election Sunday would strengthen the GBP or weaken the SEK it would be nice if to know!