Currency & Exchange Rates /Câmbios

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Money transfer to UK

Printed From: Albufeira.com
Category: Tourism / Turismo
Forum Name: Currency & Exchange Rates /Câmbios
Forum Description: Info and tips / Informações e Conselhos
URL: https://albufeira.com/forum/forum_posts.asp?TID=10074
Printed Date: 23/December/2024 at 19:05
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Topic: Money transfer to UK

Posted By: LIBBY
Subject: Money transfer to UK
Date Posted: 14/May/2018 at 13:44

Can anyone advise of the best method of transferring money from Portugal to UK.
Santander transfer facility that we use to transfer money to Portugal does not have a facility to transfer money back to the U.K.
(This is question is to help advise a Portuguese friend to transfer money to the U.K. for a house purchase)

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Algarve - The closest thing to heaven !

Replies:

Posted By: DICEYUK
Date Posted: 14/May/2018 at 15:36

Surely if somebody has a Bank Account with any Portuguese Bank then there must be a system in place to transfer money to a UK Bank Account.

I've never had to do it but before I used the Santander transfer method (i.e. for money from the UK to Portugal) I simply went to my NatWest Bank and did it via them.

There has got to be a reverse process because it must happen hundreds of times every day of the week.

No doubt you will get a reduced exchange rate and you'll probably have to pay a fee.

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I hate how peopleï compare Frank Zappa to God. I mean, he's cool and great and nice and everything, but he's no Zappa.

Posted By: LIBBY
Date Posted: 14/May/2018 at 18:40

I was surprised to be told by Santander that the U.K./Portugal money transfer they offer, does not operate the other way around. I was just wondering what is the least expensive way to do it, eg via bank transfer or fx companies.

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Algarve - The closest thing to heaven !

Posted By: jamieandanne
Date Posted: 15/May/2018 at 14:37

Look into Transferwise, I found them easy to use, very good exchange rate and good for house purchase.

Posted By: LIBBY
Date Posted: 18/May/2018 at 09:26

Many thanks DICEYUK and Jamieandanne for your replies.

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Algarve - The closest thing to heaven !

Posted By: cubsur
Date Posted: 18/May/2018 at 09:41

I have to do this from time to time. I just transfer money using my bank's website from my account here to a UK bank account. There is a fee but nothing huge and the normal commercial exchange rate applies.

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Albufeira Resident

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Posted By: LIBBY
Date Posted: 18/May/2018 at 18:15

Thanks Cubsur,

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Algarve - The closest thing to heaven !

Posted By: karldaly
Date Posted: 30/August/2018 at 06:59

If you are looking to send money as conveniently and cheaply as possible then ExcelCurrencies is a good option. It only charges a small percentage of the overall transfer as its fee.

Posted By: Andrew
Date Posted: 30/August/2018 at 09:06

And as said before, for £500 or more, FairFX don’t charge a bean.

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Andrew