transfering STERLING into EUROS

[one/two]

HI all

I need to transfer Sterling into Euros and take delivery of the actual money. it is a size-able amount of money as it is for property development.
I would prefer to not have to do it through the high street because of the spread and extra costs incurred.

all help would be much appreciated.

 

[JonnyT]

The spread is tiny in percentage terms!!!

JonnyT

 

[Pete Hannan]

one/two,
if you speak to the treasury division in your bank, they will do it for interbank rate for amounts over £5000. The spread on it should only be .0003 (currently .7067/70)

You can then arrange to collect it at any suitable branch.

 

[Trader333]

The cheapest I have found is at www.currencyuk.co.uk so maybe worth checking out.


Paul

 

[one/two]

hi jonnyT

euro today is approx 1.41
Marks & spencer is approx1.36

difference is 5 cents

I will be losing 5000 euro on a £100000 transaction.
If possible I would like to get as close too 1.41 as I can.

it will pay for a nice kitchen!

thanks pete hannan, Trader333.

 

[JonnyT]

Ah, Why didn't I think of trading currencies through M&S?

Maybe Sainsburys offer a better deal, then there's always Tesco...

Why arn't you hammering the banks where you have accounts?

I would be.

JonnyT

 

[one/two]

its nice to know you can make the exchange away from the High street.

having approached several brokerages and not getting any joy i seriously thought I was going to have to go through the high street.
cheers.