Transfer money from uk to france

[John_Wellum]

I registered with three foreign exchange brokers. When I need small sums (< 20000 euros ) I send each an email (one broker now provides online quotes) . There has always been a difference in rates between the three with no pattern i.e. A is not consistently offering a better rate.
If you require a large sum explore a forward contract - you specify the rate and when it can be met the currency is purchased. You then pay part of the cost with the remainder when you ask the broker to transfer. Transfer by my brokers is free, but one of the brokers “borrowed” my euros for almost a week between the date I paid for them and the date they transferred it. Transfer can be to a bank account or a notaire (i.e. to an IBAN/RIB) and normally takes less than half a day between notifying that the transfer has been actioned and appearing in the recipients account. Payment to the broker for the currency can be made by electronic transfer .
Both the english bank and french bank may impose limits on the amount that you can transfer in a single transaction.
There have been a number of threads exploring banking in France. In theory a euro account in country A should be good in country B. But the cost of the account differs from one country to the next

[james]

Everyone has their favourite, I always use TORFX for sums over £1000

The smart way to transfer currency

[image] Get a quote now Over the course of my many years of living in France, despite considering myself to be quite frugal and always on the lookout for a good deal, my laziness has cost me a small fortune. I am not exaggerating. Let me explain. I live and work in France and I generate income from my business activities in the UK too. As such I frequently make currency transfers between the two countries. Previously, most of those transactions would be made via my own bank in the UK or France. I stopped doing that a long time ago and here’s why. If I were to transfer a small sum today, for example, perhaps to cover living expenses and I need to make a Sterling to Euro transfer, previously I would have called my bank in the UK, established the rate for the Euro and made the transfer. The problem with that approach is that the rate offered by your bank will very likely be significantly less than that offered by a broker. So I don’t do it like that any longer - the reason is simple,…

TransferWise for the rest

TransferWise - peer to peer currency exchange with refreshingly good rates!

Always on the look out, as I am, for money saving tips, my radar started pinging when this particular service was brought to my attention. For those of you who make foreign currency (forex) transfers, read on. Their model is remarkably simple and transparent, instead of giving you a poor rate of exchange and potentially also charging you a fee for the transaction as many banks will, Transferwise will almost certainly give you the best rate you will find, they make their money by charging you a small fee which is clearly stated before you do the deal. The system is based upon a peer to peer model whereby your requirements are paired with other businesses and individuals, using the mid market rate of exchange to swap the money between local bank accounts so you'll never occur bank charges. Make a transfer now Not only will you be saving money on the rate it is super simple to use. Using their website I was able to setup the transfer in under ten minutes, I received an email confirmation…

I would like to mention that if you use either of them we receive a commission, it does not cost you any more than approaching them directly and helps us run the site and keep it free for you
Thanks

[MaryW]

Hi James, so if I use TORFX how do I make sure they know you are to receive the commission?

[james]

If you sign up with them using any of my links or if you speak to them just mention SF. Thanks

[Mat_Davies]

I have been having a look at Revolut - for unlimited FX payment amounts you need their premium account at £6.99 per month on the basic (free) account you are limited to £5000 of FX per month. 0.5% charge for payments over £5000 if using a basic (free) account.

The premium account could be worth having if shifting bigger sums - ie for a house purchase or renovation works.

As pointed out previously there are additional fees if making FX transfers at the weekends.

[MaryW]

Hi again James, sorry but just realized: I’d be transferring from US, not UK; to France. What’s your thought, will this hinder my success with TorFX or TransferWise? You might not have any experience with this of course but thought I’d ask just in case .

[james]

They both offer USD/EUR currency pairs so I don’t envisage any issues