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Best way to transfer HUF to UK GBP bank account?

Best way to transfer HUF to UK GBP bank account?

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Old May 15th 2018, 8:57 am
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Default Best way to transfer HUF to UK GBP bank account?

Good morning all,

Has anybody got any thoughts on the best way to regularly (monthly) transfer HUF to a UK GBP bank account?

I've no doubt there's a cost associated to it in addition to whatever HUF to GBP exchange rate is current at the time, but wondered if there are Hungarian (or even British) banks that have accounts or mechanisms for doing it; or whether third-party money transfer providers are the better or only option?

Thanks in advance!
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Old May 15th 2018, 10:07 am
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Default Re: Best way to transfer HUF to UK GBP bank account?

Originally Posted by Waxhill View Post
Good morning all,

Has anybody got any thoughts on the best way to regularly (monthly) transfer HUF to a UK GBP bank account?

I've no doubt there's a cost associated to it in addition to whatever HUF to GBP exchange rate is current at the time, but wondered if there are Hungarian (or even British) banks that have accounts or mechanisms for doing it; or whether third-party money transfer providers are the better or only option?

Thanks in advance!
I use World First for UK to Hungary transfers (monthly). They have just confirmed they can do the reciprocal, provided they receive the HUF before they can complete the trade. Obviously other providers are out there, presumably with similar terms.
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Old May 15th 2018, 12:29 pm
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Default Re: Best way to transfer HUF to UK GBP bank account?

https://transferwise.com/ is another service many people use in Hungary. It is very popular on the asian facebook pages for example. My HU wife says it is popular with the Hungarian facebook groups also, who send money from the uk to hu and vice versa.
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Old May 15th 2018, 3:55 pm
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Default Re: Best way to transfer HUF to UK GBP bank account?

There are lots of companies offering money transfer services, most giving better rates than the banks - but I would always chose a company that is regulated by the FCA for the additional security this offers.
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Old May 15th 2018, 5:51 pm
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Default Re: Best way to transfer HUF to UK GBP bank account?

Follow Szeged's advice, I doubt you will find better than Transferwise. I have been using them for a number of years now and have always found them to be excellent.

When you change forints to pounds, or vice versa, you will get the mid rate for your money, minus a cost of less than half a percent.
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Old Jun 17th 2018, 9:44 pm
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Default Re: Best way to transfer HUF to UK GBP bank account?

I also use Transferwise. I doubt you will find a better rate.

They also now offer a "borderless bank account" with debit card.

https://transferwise.com/gb/blog/tra...it-card-launch
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Old Aug 17th 2018, 6:25 pm
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Default Re: Best way to transfer HUF to UK GBP bank account?

I would check out the likes of HIFX or Moneycorp. We have used HIFX for years and are very happy with the rate & service. I usually do a comparison with a couple of other likely contenders but HIFX have usually won. There are some new entrants such as Starling to watch.

Definitely don't use a 'real' bank-to-bank service - they rob you blind - use a specialist FX provider.

Topcashback offer a decent £21 cashback on your first HIFX transfer, so you might want to open 2 his 'n hers a/cs and claim the cashback twice, even if you never use them again. (Moneycorp also offer cashback).
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Old Aug 18th 2018, 7:58 pm
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Default Re: Best way to transfer HUF to UK GBP bank account?

Another vote for Transferwise.
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Old Aug 19th 2018, 6:53 pm
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Default Re: Best way to transfer HUF to UK GBP bank account?

And another vote for Transferwise. I use them monthly to wire money and the fees are very affordable and have excellent customer service.
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