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Old 16.07.2010, 11:22
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Re: What is the cheapest way to transfer money from UK to Swiss bank account?

As others have stated, the fee is not generally the problem unless you are moving small amounts regularly - the issue is really what exchange rate they will give you. Most high street banks give a terrible rate (the spread between what they buy and sell at is large).

If this is something you may need to do a few times, it is well worth setting up a proper currency transfer account. I have used the oanda.com service successfully several times for fairly large amounts of money, and compared to using either my UK or Swiss banks I saved a significant amount. The costs per transfer are a standard 25$ for GBP:CHF trades, but the spread is very low, and the rate is current (updates every minute) so you know exactly what rate you are getting when making the transfer. On this page you can see what rate you would get.

I believe xe.com's service is similar, but I found it a little harder to set up the account with them so have never actually used them.
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