Cheapest way to get money from UK account

Jollygood

Registered User
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Hi, my mother wants to send me some money from her UK account. I have accounts with Rabo, AIB and BoI. Hiw much will this cost me and is there a way of getting it lodged for free? Thanks!
 
Is she sending you euro or sterling?

You should probably use one of the Forex services which are a lot cheaper than the banks.

It's not the transaction costs, but the exchange rates you need to pay most attention to.

Brendan
 
As far as I know she doesn't have a euro account so I think it will be sterling. Thank, will check out forex
 
You should check the exchange rates that the different providers are offering because that is where the difference comes in.

I recently used this company to transfer money from £ to € and got a good rate for a small fee: http://www.globalwebpay.com/ .

If you search the forum you will find several other companies offering such service.
 
I've used www.currencyfair.com and been happy with the service and the saving. It takes a little bit of emailing and phone calls to verify your ID and open your (free) account online, but you only have to do it once and then you're set up.
 
I've also used Transferwise and find them to to be excellent and very convenient for EUR/GBP transfers. Very quick when transferring Euros into Sterling during business hours using a debit card (like less than a few hours).
 
+1 on transferwise- very impressive.
Takes about 2 hours in my experience.

Costs about €4 for €1000 transfer at the spot rate (I.e. the rate going one way is the same as the rate going the other way)

Amazing!
 
Just researching these FX services myself as well and found this post. Lots of options and lots of reading through the website and FAQs to figure out fees and what is possible. I suggest that whatever service you choose, email or call their customer support to see how easy it is to get support if you need it.

Also want to mention that it seems Transferwise only accepts incoming payments in GBP and EUR currencies according to their FAQ. So if you are wanting to deal with another currency such as USD you need to choose a different company. I was trying to find a service that handles all three major currencies without too much hassle if possible. Of course minimal fees and great exchange rates are important too!
 
I've also used Transferwise and find them to to be excellent and very convenient for EUR/GBP transfers. Very quick when transferring Euros into Sterling during business hours using a debit card (like less than a few hours).
+ 1 for transferwise.com very good service.
 
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