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 Exchanging money 
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Joined: 08 Feb 2008, 23:39
Posts: 144
Location: 82 Tarn & Garonne
Hi,

I am looking to send money from my UK a/c to my French a/c but thought I would just check the rate of exchange as of today. Money markets are showing about €1.25 to £1 so expected to be quoted around €1.2250 from Lloyds TSB, I was shocked when told, from 2 different departments, that the rate was €1.1868 and that there was only one rate for everyone, business or tourist.

I now need to go to a currencey exchange company, so am asking which ones offer a reasonable rate with the minimum of difficulty in registering and the least frustration. Our Mairie is only open one afternoon a week so would prefer not to have to get verified copies of documents. I have read the posts on this page but am still unsure who to go with.

I am not in a rush and do not mind if it takes a few days as long as I get a fairly good rate.

Thank you for reading this post.

Elizabeth


08 Nov 2012, 16:14
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Joined: 10 Mar 2009, 17:38
Posts: 70
Hi Elizabeth

Thanks for your message.

There are many benefits of using a specialist company for your international money transfers. The exchange rate you receive from the bank is unlikely to be competitive, a currency specialist will typically offer a much better exchange rate – the difference in rates can be up to 3-4% which can equal a saving of at least £30-£40 on a transfer of £1,000.

An additional cost, when sending money overseas, is transfer fees when sending your euros to France – in conjunction with French Entrée, these are waived on all transactions when you use the Moneycorp service. Also, if making larger overseas transfers you will receive free expert guidance helping you to transfer your money at the best time.

For more information please click on the following link - http://www.frenchentree.com/france-curr ... p?ID=43622

Feel free to private message me if you would like any further assistance.

Kind regards

John

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Representative, Moneycorp, FrenchEntrée Recommended Partner, www.moneycorp.com


08 Nov 2012, 16:27
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Joined: 08 May 2010, 16:14
Posts: 2
Location: Magnac Laval
Hi Elizabeth You could try Currency Fair ,easy to register and I just checked todays rate is 1.25 + I have used them before and they are very efficient.Hope this helps.


08 Nov 2012, 16:29
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Joined: 24 Nov 2008, 22:53
Posts: 258
I have also used Currency Fair and they have been helpfull with something I could'nt understand (I am French) and didn't have any problem after. If I could register I am sure you will have no problem doing it aswell.


08 Nov 2012, 21:27
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Joined: 19 Jul 2003, 19:18
Posts: 1268
Location: Charente (16)
+1 for CurrencyFair

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Graham


08 Nov 2012, 22:57
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Joined: 24 Mar 2004, 12:05
Posts: 2249
Location: Northern Dordogne
I keep posting about this and it may or may not be of benefit to you but I will tell you what we do.

All our income is in pounds from the UK. Every so often ie 4 times a year my husband goes into our french bank and banks a uk Lloyds TSB cheque. It is filled out for sterling.

The French bank always gives us the bank rate so say we had banked one today it would give us 1.25.
Doing it this way the french bank sets the rate which is more beneficial to us and then charge us a set fee of around about €30 ish. Hubby is out at the mo so cant ask him.
Obviously you have to work out the costs against the amount you are changing.
The UK bank don't have any input regarding how many euros they are giving you. They just debit our account for the amount of pounds on the cheque.

Gail x

Hope this helps

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08 Nov 2012, 23:17
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Joined: 08 Feb 2008, 23:39
Posts: 144
Location: 82 Tarn & Garonne
Many thanks to all of you that have replied to my post.

I have looked at the sites mentioned and will weigh it all up. It appears to be a lot easier than I thought and am pleased that I checked the bank rate that day and posted my question, otherwise I may have lost a few hundred pounds.

I wonder why I have not gone down this route before, although it has been quite a while since I transferred money. A sign of the hard times I suppose.

Thanks again to you all.
Elizabeth


10 Nov 2012, 16:32
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Joined: 03 Nov 2007, 14:11
Posts: 4306
Location: Creuse/Indre
Currency Fair here too, can't fault them. I use http://www.xe.com/ucc/convert/?Amount=1&From=GBP&To=EUR which state 1.25 to-day. CF's rates are always the same as this site.


10 Nov 2012, 16:37
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Joined: 30 Oct 2008, 00:38
Posts: 4243
Location: 58 La Nièvre
https://www.currencyfair.com/exchange-p ... ng-to-euro
Click the above link and see exactly what you would get in your French bank for £1,000. I'm a CF fan too!

Tom

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10 Nov 2012, 16:58
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Joined: 27 Aug 2005, 00:10
Posts: 2235
Location: Charente Maritime 17
Which bank do you have to transfer the funds to (ie CF's Bank) ?

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10 Nov 2012, 17:07
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Joined: 30 Oct 2008, 00:38
Posts: 4243
Location: 58 La Nièvre
CF use Bank of America. They accept Faster Payment Service up to £10,000 for each transaction. It really is fast!

Tom

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Do not regret growing older; it's a privilege denied to many.


10 Nov 2012, 17:17
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Joined: 07 Sep 2012, 12:41
Posts: 92
Is it as fast as 1 day?


10 Nov 2012, 17:33
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Joined: 03 Nov 2007, 14:11
Posts: 4306
Location: Creuse/Indre
Ours is usually within hours, never huge amounts right enough.


10 Nov 2012, 17:37
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Joined: 31 Oct 2005, 22:00
Posts: 40
Location: Warks and Centre 41
Currency fair every time for me very fast turnaround and always the best rate only 3 euros per transaction


18 Nov 2012, 09:27
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