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Non AV related right? Money exchanging from Germany!

Monty Burns

Well-known Member
Hey Guys

This is the "Non-Av related" thread right? :D

I'm gonna wana start changing lots Euro's to pounds soon in roughly 1000gbp units. Whats the best way?

Facilities i have/having setup:

Natwest Premier account (commision free but possibly not best rate)
Natwest Euro account
German Euro account (where the money starts!)


I've done some snooping around and it seems i'm gonna get shafted no matter how I do this I get stiffed. A friend of mine who works in the UK and wants Euros has suggested that we swap privatley, yes I trust him but either way if we did, it would be face to face. He works for the same company and does not want pounds but Euro's instead!

Apart from my friends offer, the best idea I have come up with is to xfer my salary to my UK Euro account and sit on it until needed, then moving it to the GBP account in small amounts as required.


Anyone any ideas how to avoid being shafted on exchange rates?
Should I take up my trustable friends offer?
Any other links that may be usefull?


Cheers guys in advance!

P.s its all legal money, im just an overpaid IT contractor and so is he. :D
 

deanym

Well-known Member
You can do it by IBAN and swiffer bank to bank. Normally only costs a tenner at actual exchang rate - I done this for two years, and the rate was normally excatly what FT stated.

I transfered between Natwest and Hypovereinsbank. I also have plenty euros still over there if you want to do a deal? :)

Its similar to a standing order when set up.
 

Monty Burns

Well-known Member
deanym said:
You can do it by IBAN and swiffer bank to bank. Normally only costs a tenner at actual exchang rate - I done this for two years, and the rate was normally excatly what FT stated.

I transfered between Natwest and Hypovereinsbank. I also have plenty euros still over there if you want to do a deal? :)

Its similar to a standing order when set up.

Hey, cheers for the response.

Yar i know about iban mate.

Im a little more advanced than just xfering money. I wana minimise the impact of xfering (exchange rates). I can xfer Euro's to a UK Euro account so I dont automatically get "exchanged" when I do it and lose loads of money.

The rate will be slightly worse than what the FT says is the base. Its this variation that will cost me hundreds of GBP each month. Last calculation I did worked out around 400gbp for each month. :(

And I want to xfer FROM Euros to GBP. but thanks for the offer! ;)

:)
 

deanym

Well-known Member
I was trying to piggy back!! To get good rates for myself!!!

When i transferred back (normally i was £s to €s) from euros to pounds i got it a spot rate. Direct from Germany to english account may be the best bet. I'm surprised that you're losing so much!!!

Best of luck though.
 

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