SushiFan

There are always fees and commissions involved in international money transfers. Plus the spread in exchange rates. You would be better of if you decide to minimise the amount of times that your money has to travel across borders.

nonthaburi

OP: just a suggestion, but don't focus too much on the wedding. It's one day in your married life, admittedly the first one.

If the saving is such an issue for you, maybe you should be thinking about using the money towards a deposit on a house or something.

houses last many years, weddings don't.....

Jerseygirl

I like your way of thinking. We had 7 guests to our wedding 38 years ago, afterwards we all went for lunch. We didn't have a honeymoon. We used the money we saved for the deposit on our first house. Not for a minute have we regretted not having a large wedding and honeymoon...but each to their own I guess.

nonthaburi

yeah, it's a funny one the wedding. I read something recently where a couple were living with one of the couple's parents trying to save up enough for a deposit, saying how much they disliked the situation, but then it turned out later on in the article that they had spent 25,000GBP on a wedding in Las Vegas.

I think a lot of people think they can have it all, when they can't.

Personally speaking, I got married for a pound at a local district office in a suburb of Bangkok. A couple of the people working there were our witnesses. We had no money, but we did have a house to live in.

I've got no regrets. It's the years together afterwards that count ultimately.

Jerseygirl

Exactly my thoughts.

xizzles

20 odd years ago, I met my then girlfriend in Singapore. A couple of years later, we got married. My family flew down to Singapore and we had a small, intimate wedding - only close family members from both sides attended.

We didn't touch the "wedding pot", but continued to contribute to it. The "wedding pot" soon became a "1st home pot" and that's how we paid for the down payment of our 1st home. When we paid off the house, we put the money back into the fund and continued contributing to it.

20 odd years later, this "pot" is still growing. We're thinking of finally tapping into it for our 25th anniversary in a couple of years time - but this time, to treat ourselves to a year long holiday around the world.

To each their own - as long as you're happy about it, don't let anyone else tell you otherwise!

NeonHippy

A couple of points to keep in mind. Firstly, you can open a premier account with minimal funds but if you are not an established premier customer somewhere in the world you will be paying a monthly fee for it.

Secondly although as a premier customer HSBC does not charge a fee for currency transfers their exchange rate carries quite a surcharge. Much better to move the money via transferwise. They are very competitive and I think you can set up regular payments with them to automatically transfer funds each month.

You presumably intend to marry and settle in Malaysia. If your plans involve going anywhere else you should not be putting your money into RM as it is a closed currency and getting a large sum back out later may present difficulties. If you have the funds to establish a premier account in Stirling you can keep your options open by maybe establishing an offshore account in the Channel Islands. However anti-moneylaundering regulation is making this harder and harder these days.

Pulaski

He doesn't have to keep his money in Scotland, banks in other places accept deposits in sterling. A lot of retail banks have shut up shop in the Channel Islands and IMO it is more to do with tax evasion than anti-money laundering regulations. The events of recent years in several tax haven countries have proved what I have long thought - there is no legitimate purpose for most people to have a bank account in a country outside where they live and work, or have legitimate and taxed business interests.

AG_222

I absolutely agree with you, that's another pot that we are saving for.

We just want to open one wedding pot fund that is all. Nothing extravagant, just a small one.

AG_222

Would love this idea to happen for our wedding, my fiance and I would just be happy with a registration wedding at the marriage dept, but we do have certain traditions to follow.

AG_222

Love this! What a great inspiration!

InVinoVeritas

Yes indeed, you have to bear in mind that this is not really your wedding but it is an event for the whole family who want to share this important time with you. I know people who went the "easy" route and then ended up doing it again, so that everyone who missed out the first time could share the moment. Traditions are very important

AG_222

Yup, it brings two families together. We're lucky that they're offering help on certain parts of the wedding just so we won't go over the budget, but if possible we want to be responsible for the finance of everything. So just have to standby a wedding pot fund just in case! And if we have extra savings, that can go off to our house and other important things for our future.

bakedbean

I think you have to convert into another currency to shift out and, even that, can be a problem. I've been trying to shove some foreign currency across HSBC global view and I keep getting transfers flagged up....report to Bank Negara Malaysia !! despite the fact I am not Malaysian. Have found a way round it, but really not on.

Anyway....totally off topic