Moving 5 figure sum of Euros to GBP

[John145]

Hi All,

Just wondering if anyone can recommend the most cost effective way to move a (for me) significant sum of euros from Germany (Deutche Bank) to the UK (First Direct, etc.)? Ideally electronically.

Thanks in advance

[RizzoTheRat]

Not sure what the limit is but with a Revolut account you can have a £ wallet and a € wallet in the same account, and move money between them at the daily rate. So I can pay money from my UK account in to my Revolut account, change it to euros, and then pay in in to my Dutch account. I don't believe they're covered by the FSCS guarantee though so I don't leave money in there.

[mikeiow]

I've used Transferwise for USD to GBP transfers.....it is hard to really compare, but they claim to be one of the lowest ways to move funds about

Suspect they are similar. I think Transferwise offer a "fee fre" first transfer up to about 3K: https://www.icomparefx.com/transferwise-vs-revolut...

[tigerkoi]

Transferwise. House purchases made with it. No issues.

Revolut is good to have, but I wouldn’t use it for the large stuff.

Edited by tigerkoi on Monday 1st April 12:08

[KTF]

A finceco multi-currency bank account maybe? You could pay euro into euro account then convert to your GBP at the market rate.

https://finecobank.com/uk/online/banking.html

[tigerkoi]

KTF said:

A finceco multi-currency bank account maybe? You could pay euro into euro account then convert to your GBP at the market rate.

https://finecobank.com/uk/online/banking.html

Interesting. But when a newbie starts comparing their CET1 favourable against the U.K. big four, then I start to become unconvinced.

It’s about also understanding and being aware of the underlying business and viability.

One to watch for sure, but proceed with caution.

[Marcellus]

I always put my trades through World First current race € to £ offered at 0.8539, which is 0.25% off current Interbank rate.

Usually sterling credits back same day, all done on line.

[gregf40mark2]

Revolut for me - I've been using it years and it gives the best rates.

[tigerkoi]

My missus is an investor in Revolut. We use Transferwise for the big tickets. Revolut has other more suitable purposes.

[ColdoRS]

Transferwise. I use it every month, it’s been hassle free and low expense.

[Deesee]

Be careful were you place your money, significant sum for you, then get a spot price from handling or receiving bank, both are tier one!

Revoult news below.

https://www.bbc.co.uk/news/technology-47751945

Better the funds arrive eh!

[tigerkoi]

Deesee said:

Be careful were you place your money, significant sum for you, then get a spot price from handling or receiving bank, both are tier one!

Revoult news below.

https://www.bbc.co.uk/news/technology-47751945

Better the funds arrive eh!

Yesssssss...
We’ve made 15-20x but think we’ll move on. They’re only an intermediary after all.
I think people also forget that when they read that significant sums are backed up by Banking provisions, that they ain’t talking about the Bank of England. But the Bank of Lithuania. LT banking scene is in a very tricky place right now...

Transferwise, Transferwise, Transf.....

[gregf40mark2]

tigerkoi said:

I think people also forget that when they read that significant sums are backed up by Banking provisions, that they ain’t talking about the Bank of England. But the Bank of Lithuania. LT banking scene is in a very tricky place right now...

Transferwise, Transferwise, Transf.....

That's not what they are referring to. It's the fact that your funds are held in ring fenced accounts with Lloyds in the UK (I believe).

[Deesee]

tigerkoi said:

Deesee said:

Be careful were you place your money, significant sum for you, then get a spot price from handling or receiving bank, both are tier one!

Revoult news below.

https://www.bbc.co.uk/news/technology-47751945

Better the funds arrive eh!

Yesssssss...
We’ve made 15-20x but think we’ll move on. They’re only an intermediary after all.
I think people also forget that when they read that significant sums are backed up by Banking provisions, that they ain’t talking about the Bank of England. But the Bank of Lithuania. LT banking scene is in a very tricky place right now...

Transferwise, Transferwise, Transf.....

I’ve met a couple of genuine oligarchs (proper billionaires, jets and the like, one of whom shut down 27 saving banks (and took the associated deposits), then rocked up in the uk on asylum!

The things people will risk for 0.01 on the £$€

[tigerkoi]

gregf40mark2 said:

tigerkoi said:

I think people also forget that when they read that significant sums are backed up by Banking provisions, that they ain’t talking about the Bank of England. But the Bank of Lithuania. LT banking scene is in a very tricky place right now...

Transferwise, Transferwise, Transf.....

That's not what they are referring to. It's the fact that your funds are held in ring fenced accounts with Lloyds in the UK (I believe).

Read the BBC article to your hearts content. We’re investors. Missus has pushed for significant changes including IPO and a coherent go-forward strategy. Tone deaf they are.

There’s a lot to it, and much more intricate story than the odd headline.

[tigerkoi]

https://www.theguardian.com/money/2018/dec/22/lith...

Another angle.

[tigerkoi]

Deesee said:

tigerkoi said:

Deesee said:

Be careful were you place your money, significant sum for you, then get a spot price from handling or receiving bank, both are tier one!

Revoult news below.

https://www.bbc.co.uk/news/technology-47751945

Better the funds arrive eh!

Yesssssss...
We’ve made 15-20x but think we’ll move on. They’re only an intermediary after all.
I think people also forget that when they read that significant sums are backed up by Banking provisions, that they ain’t talking about the Bank of England. But the Bank of Lithuania. LT banking scene is in a very tricky place right now...

Transferwise, Transferwise, Transf.....

I’ve met a couple of genuine oligarchs (proper billionaires, jets and the like, one of whom shut down 27 saving banks (and took the associated deposits), then rocked up in the uk on asylum!

The things people will risk for 0.01 on the £$€

Jeez
Think we know the same stories, groups...
Its the Wild East in full effect.

[Deesee]

tigerkoi said:

Deesee said:

tigerkoi said:

Deesee said:

Be careful were you place your money, significant sum for you, then get a spot price from handling or receiving bank, both are tier one!

Revoult news below.

https://www.bbc.co.uk/news/technology-47751945

Better the funds arrive eh!

Yesssssss...
We’ve made 15-20x but think we’ll move on. They’re only an intermediary after all.
I think people also forget that when they read that significant sums are backed up by Banking provisions, that they ain’t talking about the Bank of England. But the Bank of Lithuania. LT banking scene is in a very tricky place right now...

Transferwise, Transferwise, Transf.....

I’ve met a couple of genuine oligarchs (proper billionaires, jets and the like, one of whom shut down 27 saving banks (and took the associated deposits), then rocked up in the uk on asylum!

The things people will risk for 0.01 on the £$€

Jeez
Think we know the same stories, groups...
Its the Wild East in full effect.

We should have a beer? My yacht or yours!

[tigerkoi]

Deesee said:

tigerkoi said:

Deesee said:

tigerkoi said:

Deesee said:

Be careful were you place your money, significant sum for you, then get a spot price from handling or receiving bank, both are tier one!

Revoult news below.

https://www.bbc.co.uk/news/technology-47751945

Better the funds arrive eh!

Yesssssss...
We’ve made 15-20x but think we’ll move on. They’re only an intermediary after all.
I think people also forget that when they read that significant sums are backed up by Banking provisions, that they ain’t talking about the Bank of England. But the Bank of Lithuania. LT banking scene is in a very tricky place right now...

Transferwise, Transferwise, Transf.....

I’ve met a couple of genuine oligarchs (proper billionaires, jets and the like, one of whom shut down 27 saving banks (and took the associated deposits), then rocked up in the uk on asylum!

The things people will risk for 0.01 on the £$€

Jeez
Think we know the same stories, groups...
Its the Wild East in full effect.

We should have a beer? My yacht or yours!

Cabopino, see you there

[Deesee]

tigerkoi said:

Deesee said:

tigerkoi said:

Deesee said:

tigerkoi said:

Deesee said:

Be careful were you place your money, significant sum for you, then get a spot price from handling or receiving bank, both are tier one!

Revoult news below.

https://www.bbc.co.uk/news/technology-47751945

Better the funds arrive eh!

Yesssssss...
We’ve made 15-20x but think we’ll move on. They’re only an intermediary after all.
I think people also forget that when they read that significant sums are backed up by Banking provisions, that they ain’t talking about the Bank of England. But the Bank of Lithuania. LT banking scene is in a very tricky place right now...

Transferwise, Transferwise, Transf.....

I’ve met a couple of genuine oligarchs (proper billionaires, jets and the like, one of whom shut down 27 saving banks (and took the associated deposits), then rocked up in the uk on asylum!

The things people will risk for 0.01 on the £$€

Jeez
Think we know the same stories, groups...
Its the Wild East in full effect.

We should have a beer? My yacht or yours!

Cabopino, see you there

No way, we used to go there as children, stayed in calahonda.. Alberts bar, every Wednesday..

I’ll pm you next time I’m that way.