The Lemon Fool

I am sure this must have been discussed before, probably at length.

Does anyone have a recommendation on how to transfer GBP in other currencies safely and at reasonable exchange rates?

I recently transmitted small sums, each around GBP 600 to a university's bank account in the Philippines. I did it effortlessly through HSBC. However, on comparing HSBC's exchange rate with X Rates I realized how poor the bank's rate was.

Thanks for any advice.

TP2.

Moneycorp...or HIFX

but you have to jump through hoops to get started.................dont forget that everyone 'normal' is deemed a money launderer
only the real criminals get around these latest regs!

TransferWise is the best there is.

I use peer-to-peer Currency Fair both for sending UK to Australia and also moving it back again when x-rates make it worthwhile. Good rates efficient and helpful if you need to talk to someone.

That said I did use World Remit a few times because I got a Quidco deal. Exchange rates a gnats better than Currency Fair, efficient BUT after a certain amount of transfers they wanted to 'verify' me. I got an e-mail and thought it was a scam as they asked for passport photocopy including photo, utility bills, banks statements, in fact, everything an identity thief could possibly want. I had to upload to their 'secure' server.

I've refused so back to Currency Fair for me.

GrahamPlatt wrote:TransferWise is the best there is.

Check out Revolut as well. Both are excellent.

Also, just a thought but as it seems to becoming more the case these days, maybe check if the university already has a pound or euro account that you can transfer into, and if so, compare the difference.

Steve