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Old 04.09.2014, 11:40
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Best Bank for cheap international transfers

Hi, I have just moved to switzerland and am looking to set up a bank account. however i will be needing to send money back to the UK from time to time. Which banks offer the best services to do this cheaply?
Thanks
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Old 04.09.2014, 12:45
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Re: Best Bank for cheap international transfers

Best is to use a currency broker, especially for larger amounts.
Money Saving expert gives good advice for some British based companies.
I have used Moneycorp they give a good rate. And once you are set up, transfers can be done relatively quick.
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Old 04.09.2014, 13:59
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Re: Best Bank for cheap international transfers

I am in the midst of my first exchange from my Swiss to an American account.

My dough is presently in the ether, on its way from XE.com to my bank in NY.

It's the cheapest way I've seen, and XE services British banks as well.


caveat:

setup an authentication can take a day or two.

Preparing a transfer and sending the funds to XE was very fast, but it can take up to a week for the funds to be confirmed at the recipient institution. If you have a deadline approaching in under 14 days, I would step on it today.
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Old 04.09.2014, 14:18
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Re: Best Bank for cheap international transfers

I used to use xe.com but switched to currencyfair because the rates are better.
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Old 04.09.2014, 15:34
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Re: Best Bank for cheap international transfers

See also this recent thread for suggestions: Transferring money back to the UK

TransferWise are excellent.
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Old 04.09.2014, 15:56
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Re: Best Bank for cheap international transfers

Lots and lots of threads on this. Come on, use the search.

+1 Transferwise tho.
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Old 15.10.2014, 15:02
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Re: Best Bank for cheap international transfers

Ukforex, good service, and reasonable rates of exchange- no fees if you transfer over a set amount too.
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Old 16.10.2014, 11:10
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Re: Best Bank for cheap international transfers

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Ukforex, good service, and reasonable rates of exchange- no fees if you transfer over a set amount too.
I use them to transfer GBP into Switzerland. However, weirdly, once you've factored in all costs, I've found for the other direction UBS is better.

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Exchange4free - great rates, no charge on transfers or commission.
If there is no charge and no commission, then they'll be making the money on the exchange rate. "Free" is seldom free.
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Old 16.10.2014, 11:30
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Re: Best Bank for cheap international transfers

+1 for currency fair. There's a flat charge, which is low, and beyond that no commission or spread, since it's peer-to-peer.
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Old 17.11.2014, 10:00
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Re: Best Bank for cheap international transfers

I suggest setting up a bitcoin wallet. The user interface is getting very easy to use, and transfers to a wallet in the UK would take seconds to transfer. No fees need to be paid, and it is gaining in popularity for remittance. I suggest using the website circle.com. All funds deposited in your account are also insured.
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