Foreign exchange

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Compare foreign currency money transfer providers



Money transfer
When making payments abroad you need a provider that can help you minimize any risk and that can deal professionally with currency fluctuations. Using a dedicate FX provider can save you between 2% to 4% compare with high street banks when buying property abroad, buying high value goods, transferring funds when emigrating or paying education fees.

There are four basic methods of transferring cash abroad relay, sandard bank transfer, urgent transfer and foreign draft and usually you can set up 4 types of contracts with your provider spot, forward, stop loss order and limit order.

By using a specialist foreign exchange provider you will get far better rates than you’ll find via the high street banks. No matter if you wish to make regular payments, where you can set up a monthly ‘standing order’ facility to convert and transfer funds or one off payments.

Most providers don't charge commissions or handling fees and they simply maek their money from the rate of exchange.

Author/reviewer Editor Uploaded Updated November 2009
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Provider
Transfer
Fee
Mimimum payment
Currencies
Trust accounts
Exchange margin
Transfer options
FSA
regulated
Apply
£15.00 (£4 for one off transfer)
£5,000
76
HSBC and Barclays
1%
BACS, Cheque
and SWIFT
No
£0.00
£2,500
38
Barclays
1%
BACS, Cheque
and SWIFT
Yes
£0.00
£250
39
Barclays
0.7%
BACS, CHAPS
No
Free on amounts over £5,000
£250
130
Citi and Barclays
0.6%
BACS, CHAPS, SEPA, SWIFT
Yes
£0.00
£5,000
31
HSBC
1%
BACS, cheque, online up to 10K
No
£0.00
£2,500
31
Lloyds TSB
1%
Between banks (UK and abroad)
No
£0.00 (over £5,000)
£100
33
HSBC
1%
Between banks (UK and abroad)
No
£0.00
£3,000
40
RBS
0.9%
Between banks (UK and abroad)
No
£0.00
£2,500
41
Barclays
1%
BACS, CHAPS cheque and DD
No



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