Best way to convert sterling to euro

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polo1

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Does anyone know what the best way to go about transferring a large sum over 300K sterling into Euro and what rate should I expect to receive? I would prefer a commercial rate rather than the standard rate given to any punter. Your help is appreciated.
 
maybe you misunderstood my question or I wasnt clear. I need to actually change sterling money to euro's...Any idea who would give me the best rate or what is the best way of getting the best rate?
 
polo1, XE.com do an actual trading system and the rate is usually competitive. afaik, they have restrictions and conditions due to money-laundering regulations but you'll probably find that elsewhere too.
 
With an amount of that size you should be getting a spot rate anyway form any of the banks. You should be able to negotiate decent rate by playing one bank of the other.

Use xe.com to get an idea of the mid rate so that you know how close each bank is to the mid
 
Does anyone have any experience of using an online currency site to access foreign exchange.

Thanks Maeve
 
I've £20kstg to conver to euro. Bugger about the NR situation messing the rate from 66p= €1 to 69.4p=€1. Lets start a swap shop. I trade mines at the midway for someone vice versa. Screw the banks on the spread.;)
 
I've had generally good experiences with www.axiafx.com. You can book a rate days in advance, usually without a deposit and I've found their rates quite competitive.
 
budapest said:
I've had generally good experiences with [broken link removed]. You can book a rate days in advance, usually without a deposit and I've found their rates quite competitive.
Click to expand...

Nice one Buda...Put in Favorites. Banks giving lousy spot rates with their greedy spreads. UBL used to be good for low margins etc over €25k but since that UK bank.....is it Bank of Scotland... started getting tight & the deals have got meaner.:) P.S. Will Stg strengthen now NR debacle behind us or is it a case of how long is a piece of string...wanted 67p
 
Thank you Budapest for posting [broken link removed]. The site seems user friendly to me a fool when it comes to financial terms. I will enjoy exloring it further.

Best Regards Maeve
 
I can help (from personal experience) in letting you know who and where not to go to to convert your money from sterling to euro. Especially large amounts into commercial accounts.
 
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