marc62 Posted July 8, 2005 Share Posted July 8, 2005 We have opened a Britline account (very easy & helpful) & we would like to know the best / cheapest way to transfer money from our UK account. Would it be better to set up a direct debit or send a couple of hundred pounds every few months?Many thanks - Marc Link to comment Share on other sites More sharing options...
Ron Avery Posted July 9, 2005 Share Posted July 9, 2005 Marc You will get a better response if you post this in Finance, but before you do, do a search in Finance as this topic has been discussed very very often on this Forum and also very recently. Link to comment Share on other sites More sharing options...
Chas Posted July 10, 2005 Share Posted July 10, 2005 Agree with Ron but if it's any help we have had a monthly direct debit with Currencies Direct from our UK banks to Britline for nearly five years now and have not had any problems Link to comment Share on other sites More sharing options...
M Posted July 17, 2005 Share Posted July 17, 2005 We have a Britline account. Sending over money every few months can be expensive. The cheapest I've got it is for £10 with Lloyds TSB (you'll need an account).This is an 'Economy' transfer & takes 5-7 days to get there, it has to be less than 3000 euro's. All the other banks I rang were charging £20 -£30 . Be careful to say you want it Economy and don't let them put the IBAN number on the form otherwise you get charged for a quick transfer £20 (for less than £10k.)You could setup Direct Debits but I've read some horror stories on this site about money taken twice and difficulties getting it back. If your not living there (as we don't) it can be a hassle making phonecalls, trying to get the double payment back.Emma Link to comment Share on other sites More sharing options...
marc62 Posted July 18, 2005 Author Share Posted July 18, 2005 Hi Emma,Thankyou for the infomation - Marc Link to comment Share on other sites More sharing options...
Binky Posted July 18, 2005 Share Posted July 18, 2005 We are also with Britline and have used various methods, but for the occasional and not very large about, try travellers cheques, britline don't charge you for adding this into your account.Obviously depends on the rate you get the cheques for, but have sent it this way many times and only takes a few days to be added into you accountRay Link to comment Share on other sites More sharing options...
Esperaza Posted July 19, 2005 Share Posted July 19, 2005 I sometimes use Moneybookers for transfers to my Britline account but the total transaction time is around 10 days, this is definitely the cheapest way.I have set up a direct debit with "smile, the internet bank" to transfer a fixed amount each month at £8.00 per transaction.Neither of these incur any charges from Britline.I used to mail travellers cheques but with the poor exchange rate and cost of registered post the £8.00 option became more favourable, plus the fact that I once had £1500.00 go "walkabouts" for 6 weeks which did not endear me to the French banking system! Link to comment Share on other sites More sharing options...
peebee Posted July 19, 2005 Share Posted July 19, 2005 We also send traveller's cheques (made payable to myself of course). I sent them last Saturday and I have checked my Britline account tonight and they have already been credited, today...how's that for speed! There is no cost for this service either.Pat Link to comment Share on other sites More sharing options...
lindysman Posted November 3, 2006 Share Posted November 3, 2006 Open a Nationwide Flexaccount, use your debit card to draw Euro's from a french atm, no charges at all! Spend or put into your account - simple! Link to comment Share on other sites More sharing options...
Deimos Posted November 4, 2006 Share Posted November 4, 2006 Probably depends on how much how often. If very large amounts every few years the costs of a standard bank transfer become trivial compared to the amount (e.g. £10 or £25 makes little difference). However smaller amounts more often (e.g. monthly for living off) then the cost of the transfer can become a bit more.Another consideration might be where and how you get the Euros. The rate you achieve could make the transfer costs trivial, but what you can get will depend on the amounts being transferred.I tend to do larger amounts less often and use a currency exchange company with dynamic rates (based in London). They charge me £25 to transfer the money to France, but they transfer Euros and those Euros are got at a very good rate - hence the transfer costs are trivial and more than made up for by the exchange rate achieved.Sorry - no real answers, just things to consider.Ian Link to comment Share on other sites More sharing options...
marc62 Posted November 5, 2006 Author Share Posted November 5, 2006 Hi IanThanks for your reply but I asked this question back in July 2005. I have followed the advise I now use Money Bookers over the net, with this you still achieve spot rate regardless of the sum required & it only costs approx £2.50. It is well worth looking into as it will save money, For very large amounts I would still however go via one of the transfer banks / companies, but anything below £2000 is sent via Money Bookers. Regards Marc Link to comment Share on other sites More sharing options...
Brilec Posted November 10, 2006 Share Posted November 10, 2006 I often use Moneybookers but it does take some time, and you have to do at least some of it manually, online. You transfer from your bank to Moneybookers which you can set up as automatic, but when the money arrives, they send an email. Then you have to withdraw that money to your french account.I also use HSBC, where I have my normal UK account. For transfers of less than £2k they charge £9.00, the last one I did in the branch at about 11.30 am on a monday, and got a letter from my french bank later in the week to say that my account had been credited, and the letter was dated that same Monday. So the money took just a few hours to get there. And french banks are normally closed on Mondays.Is this a record? Link to comment Share on other sites More sharing options...
Sabina Posted November 11, 2006 Share Posted November 11, 2006 I also use HSBC, paying £9 for a World Transfer Payment to send euros to Britline (up to 3000 or is it 4000 euros before fee increases)Been doing it for last 15 years - it used to take days but since everything now done as telegraphic (or is it electronic) transfer using SWIFT and /or IBAN numbers, the money arrives in hours.Sabina[:D] Link to comment Share on other sites More sharing options...
hastobe Posted November 11, 2006 Share Posted November 11, 2006 We have a Banque Populaire account in France and Co-operative current account in the UK. We use HIFX as brokers get a very good rate and no charges at either end. Transaction is usually processed in less than 5 working days.Kathie Link to comment Share on other sites More sharing options...
cheminot Posted November 12, 2006 Share Posted November 12, 2006 I do regular monthly transfers through Currencies Direct. It costs me nothing and I get a good exchange rate. Dont think it is possible to get it cheaper than that!cheminot Link to comment Share on other sites More sharing options...
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