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sending euros to UK


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(@crazy-russian)
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Joined: 15 years ago

does anyone have any experience of sending large amount euros back to UK without crazy bank charges?

I have done £stg/into euros and sent to PT by using money brokers

but never yet other way

money brokers in UK getting harder and harder to use due to everyone (innocent folk) being money launderers...so hoops and hoops

is it same in PT??

recs please also any other ideas??

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(@stevej)
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Joined: 14 years ago

The fx company we use (XE Trade) can do transfers either way - there are no bank charges for moving £ to €, they make their money by way of the exchange rates they offer, which will be slightly lower than headline rates. We're prepare to accept that in return for a secure and quick service.

The only hiccup I could see would be any limits put on the maximum amount one can transfer from the PT bank. We use CGD and they have daily limits on MultiBanco (€3k) and online transfers (€10k) - not sure what other PT banks' policies are.

Steve

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VIP Member
(@crazy-russian)
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@stevej   thanks steve

I am used to transfer limits with UK online banks....so I shall ask my PT bank and explain reasons....in UK it is usually possible to get around the standard transfer regs with a phone call...or two

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(@crazy-russian)
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@stevej   thanks but XE used to be HIFX who I used before. but now they dont bother to answer telephone...I have tried 4 times last week...3 x 25 minute on hold and have sent emails. Today I finally got a reply to email.

I have moved to Moneycorp who do in fact answer the telephone

 

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(@thomasribatejo)
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Joined: 4 years ago

We've used TorFX (in the UK) for transfers, and similarly, they can transfer in either direction. Make sure you send in the currency of the source, for them to convert.

They have humans on the end of the phone, and you normally get a name and email you can then go back to. If you explain about your bank's limits, they can probably work something out with you.

Also, sometimes the transfer limits are per transfer not per day, so you can do multiples in sequence...

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8 Replies
VIP Member
(@crazy-russian)
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@thomasandmatthew....many many thanks

apartment sale is underway so I need this info in coming month.....or so...!!!

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Community Member
(@jennipt512)
Joined: 5 months ago

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Posts: 1

@crazy-russian

I work for Foreign Currency Direct in Portugal and would be happy to give you a comparison quote too. Or just a chat in general about currency transfers.

The GBPEUR is at a two month low so its a great time for you to be sending Euros to Pounds at the moment. Have a chat with brokers about their options to help you mitigate your exposure, such as Forward Contracts on this market spike as the GBP is forecast to strengthen again.

Any Qs, I'd be happy to give you some impartial guidance (even if you dont wish to reg with FCD).

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(@crazy-russian)
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@jennipt512 hi and many thanks hyour kind offer. I ill note your details. but be aware I am only an ordinary 'person' not a regualr trader.

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VIP Member
(@crazy-russian)
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@thomasandmatthew   thanks for the rec. I have registered and very quickly they telephoned to chat (and check I exist??) but I was asked who rec'd them.....is it OK to say your name or??

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Ask Our Expats Consultant
(@thomasribatejo)
Joined: 4 years ago

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Posts: 390

@crazy-russian Yes, please do!  I doubt I'll get anything for it, but it can't do any harm.  My person there is Gavin Ward, if that matters at all.  I have not been able to fault them.

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VIP Member
(@crazy-russian)
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@thomasandmatthew   ok will do.  fingers crossed you get an intro reward!!

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VIP Member
(@crazy-russian)
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@thomasribatejo,,,many thanks that rec. I called them and registered. everything was excellent so I used them for my sale and transfer. I  gave your name as rec...so in theory you might get £50 for 'rec a friend'...unless thats new thing they just offred me !!

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Ask Our Expats Consultant
(@thomasribatejo)
Joined: 4 years ago

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Posts: 390

@crazy-russian thanks so much!  I'll let you know if I do!  Glad it went well!

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Ask Our Expats Consultant
(@thomasribatejo)
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Joined: 4 years ago

Thanks for thinking to do this 🙂

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