How to avoid exchange charges
Mar 10th 2007, 9:50 am
#1
BE Enthusiast
Thread Starter
Joined: Feb 2006
Location: Isla Canela & Mountnessing
Posts: 703
How to avoid exchange charges
Hi All
If anyone is interested in todays Daily Telegraph ,Your Money section page 12 there is an article avoiding currency exchange charges & pensions abroad
www.telegraph.co.uk/money
It is worth reading
Regards
Chris
Also look at page 2 of the Overseas Property section there a half page spread on Foreign Exchange deals It gives a list of transfer fees etc,
If anyone is interested in todays Daily Telegraph ,Your Money section page 12 there is an article avoiding currency exchange charges & pensions abroad
www.telegraph.co.uk/money
It is worth reading
Regards
Chris
Also look at page 2 of the Overseas Property section there a half page spread on Foreign Exchange deals It gives a list of transfer fees etc,
Last edited by chrismortley; Mar 10th 2007 at 10:37 am. Reason: more info
Mar 10th 2007, 10:00 am
#2
Smarties
Joined: Jan 2007
Location: Liverpool, soon to be Hondon De Las Nieves
Posts: 238
Re: How to avoid exchange charges
Hi All
If anyone is interested in todays Daily Telegraph ,Your Money section page 12 there is an article avoiding currency exchange charges & pensions abroad
www.telegraph.co.uk/money
It is worth reading
Regards
Chris
If anyone is interested in todays Daily Telegraph ,Your Money section page 12 there is an article avoiding currency exchange charges & pensions abroad
www.telegraph.co.uk/money
It is worth reading
Regards
Chris
Mar 10th 2007, 2:11 pm
#3
Joined: Jun 2006
Location: Granada Costa
Posts: 10,898
Re: How to avoid exchange charges
A great article - apart from the fact that it is wrong!
UK State and personal pension payments into Spanish bank accounts do not attract any charges at all. It is illegal to make any such charges. The DSS make no "admin" charge but some pension providers charge a nominal amount - in the case of my pension it is £3 a month.
Obviously the Sterling amount has to be changed into Euros and there is always the possibility of the pension provider giving you a poor rate.
From my personal experience the rate given by the DSS is at least as good or better than you will get from people like HiFx.
UK State and personal pension payments into Spanish bank accounts do not attract any charges at all. It is illegal to make any such charges. The DSS make no "admin" charge but some pension providers charge a nominal amount - in the case of my pension it is £3 a month.
Obviously the Sterling amount has to be changed into Euros and there is always the possibility of the pension provider giving you a poor rate.
From my personal experience the rate given by the DSS is at least as good or better than you will get from people like HiFx.
