Recommendations for Currency Transfers please - Page 2

I used TorFX for my apt.sale.

Great comms all the way through and the best rates.

We use Transferwise and have been very happy with the service.  Now, if only someone had a crystal ball and could predict when £ to € is at the best rate ...

Have a look at Currency Fair:

https://www.currencyfair.com/rafland/?channel=R8Z631

Probably the most competitive rates available. Web site is very easy to navigate. You can deposit pounds and a click of the mouse will get you into euros when you wish (and back again if needed). They often give away free transfers (otherwise €3 a time). If you open an account (min €2000 conversion) they give us both a small bonus.

Have a look and I hope that helps.

Transferwise - by far the best and they do not rip you off.

I will confess that I have not looked at Transferwise however I would make the following comments. The difference you allude to is a difference of €0.00411 or 0.411 cents or 0.035%. In my experience the mark up from the middle rate is around 0.5% each way. Put another way, if you change £100 to euro and IMMEDIATELY back again you'd have about £99. These companies receive quotes from their respective banks upon which they base their rates. As you will know, spot rates change every second but the exchange companies do not update quite as quickly. Thus, if you repeat your test, I believe you will get different results. I think you will find that if you conduct your experiment at five minute intervals for an hour or more, you may find what I say is so. In a nutshell the two companies are probably equally good and you may feel it best to decide by exploring how user friendly each is for you.

Another point worth making is that probably neither company offers forward contracts. They offer "spot" only meaning that if you change money you get the rate at the time you change it. Forward contracts allow you to lock into a rate now. Then whatever the rate does later your rate is guaranteed. Smart Currency do offer these and I have used them frequently in the past. They are not so good on "spot" but ideal for a forward contract if you want to be sure to have sufficient funds for a house purchase for example. Here's their link:

http://smartcurrencyspain.com/

If I can help further, let me know!

1st para: I don't think Currency Fair does that. The funds have to be there before you do the exchange - I.e - no forward contracts

2nd paragraph - yes Currency Fair does that also. Problem --- if it doesn't get there, no exchange!!

3rd - the 0.5% I quoted is only approx. I can't say if the rate gets even better for large sums

Whichever you pick, ring two simultaneously.  Ask just one question   If I give you £X how many Euros will be paid into my account.  Don't bother asking the rate or anything else.  You need to know how much will be paid into your account all charges and commissions debited.  Ring two and pick the best.  Next time ring the best and one other.   RC

We use Currencies Direct they seem easy to use, have great rates and also there is an office close to us in Playa Flamenca

TransferWise is by far best and great value .34 below interbank rate wow ! easy to set up 5 mins  not to be missed

Go to Transfer wise. Com. You will also need not be disappointed.