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Cheapest and safest way to transfer money from UK

Posted by fjcope-295562 - Created: 5 years ago
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3 replies (Showing replies: 1 to 3)

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Posted by Methuselah-217505 - 5 years ago

There are no guarantees, and they could go bust after they receive your money, and before they send it on.

That's good advice but not entirely correct. If you use a UK company which is authorised and regulated by (and not simply registered with) the FSA, there is protection, how far it goes I don't know.

They should also be a registered MSB with HMRC.

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Posted by ESS-209984 - 5 years ago

There are many currency exchange companies that will move your monies around for you.

Just one word of advice though, these are NOT banks. There are no guarantees, and they could go bust after they receive your money, and before they send it on. We use one with great success, but never huge sums of money.

So, if it is your life savings, think twice before you consign it to a company that you don't know.

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Posted by Neil85 - 5 years ago

Bonjour,

There are a number of money transfer firms out there and some of them advertise on Angloinfo. [Normally there is one in front of me on one of the classifieds pages but not today].

We used one 5 years ago to transfer the money to buy our house at a better rate than the bank and with only a small "paperwork charge"; our French bank only charged 12 euros to receive it.

I picked the best firm from the list given by the financial pages of a Sunday newspaper and it worked well. I won't go and search for their name now as things could have changed in 5 years and we haven't needed their services since. I think you will find something by clicking on "Directory" on the left and following the links.

Good luck,

Neil