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sending 2000 euros to a uk sterling bank account?

sending 2000 euros to a uk sterling bank account?

Old May 15th 2013, 7:16 am
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Default sending 2000 euros to a uk sterling bank account?

Hi,I need to send my son 2000 euros as he needs the cash in sterling for a deposit on a house,its a present for his 25th birthday,he has the money but I want to give it to him,what is the best was to send this amount to the uk,he has a sterling account in UK.I have a euro account with cajamar,is it just use the bank,or is there a better way,ty
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Old May 15th 2013, 6:49 pm
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Default Re: sending 2000 euros to a uk sterling bank account?

Originally Posted by sensationalfrog
Hi,I need to send my son 2000 euros as he needs the cash in sterling for a deposit on a house,its a present for his 25th birthday,he has the money but I want to give it to him,what is the best was to send this amount to the uk,he has a sterling account in UK.I have a euro account with cajamar,is it just use the bank,or is there a better way,ty
Why not use one of the currency exchange dealers such as Moneycorp or Currency Fair? They'll give a better exchange rate, probably, as well as charging much less commission.
We used Currency Fair 3 weeks ago to transfer £500 from our UK a/c into our Spanish bank & they were the best.
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Old May 15th 2013, 7:57 pm
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Default Re: sending 2000 euros to a uk sterling bank account?

FX companies are probably the best way as te rate conversion from Euro to Sterling that the banks offer will be poor plus the admin costs charged to the recipients account,
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Old May 15th 2013, 9:41 pm
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Default Re: sending 2000 euros to a uk sterling bank account?

Fx rates offered by UK banks are horrific. But most European banks are quite reasonable. So while it makes sense to use alternative transfer methods when transferring sterling to euros, it's probably not worth the hassle when transferring from a Spanish euro account to the UK.

A really simple way is by Paypal. It's instant and their fx rates aren' t horrible like UK banks.
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Old May 15th 2013, 10:29 pm
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Default Re: sending 2000 euros to a uk sterling bank account?

Originally Posted by amideislas
A really simple way is by Paypal. It's instant and their fx rates aren' t horrible like UK banks.
If you have your PayPal account linked to a bank account they won't charge you a large fee. But if your PP account is to your credit card, they'll charge you 5.9% of the amount sent.
Recently I "tested" sending money from my UK PayPal account to my newly set up Spanish one. To transfer £10 from the UK into Euros in ES cost me £10.59 and the Spanish account received 11.55€

Personally, I'd just use the bank's website to transfer funds. If you haven't applied for internet banking (I use Cajamar's online service, it's fine) then you can go into a branch and request a transfer in person. You'll need the IBAN number of the account to send to, so make sure you have the right details, or you could end up giving someone a nice surprise

BTW, I also have a Nationwide account in England and I get really good FX rates from them for transfers to my Spanish accounts.

Last edited by pete_l; May 15th 2013 at 10:32 pm.
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Old May 16th 2013, 5:13 am
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Default Re: sending 2000 euros to a uk sterling bank account?

Use Transferwise. Excellent rate of exchange far better than Currences Direct.
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Old May 16th 2013, 9:07 am
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Default Re: sending 2000 euros to a uk sterling bank account?

Originally Posted by amideislas

A really simple way is by Paypal. It's instant and their fx rates aren' t horrible like UK banks.
I thought PayPal rates were pretty terrible compared to the FX specialists.

Originally Posted by pete_l

Personally, I'd just use the bank's website to transfer funds.
Easy but it'll cost ya! Could easily be 20-40 euros more.
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Old May 16th 2013, 9:11 am
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Default Re: sending 2000 euros to a uk sterling bank account?

www.xe.com/xetrade/
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Old May 16th 2013, 9:13 am
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Default Re: sending 2000 euros to a uk sterling bank account?

Thanks for all the options that you have given,I have a few more alleys to follow now
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Old May 17th 2013, 1:08 am
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Default Re: sending 2000 euros to a uk sterling bank account?

Could try Currencyfair.com I have used them a few times both to and from Spain good rates good service
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