best way to transfer money from europe to Uk

[peterpeter]

Hi Im selling my car pretty soon, and the buyer from Germany wants to pay in euros.
Of course the rate is good, but the banks seem to rip you off on their "buy" quotes.

so even though the GBP-Euro is 1.06, they will buy at 1.15.

So what about foreign exchange transfer companies like " for-ex?"

Anyone used them..? they are quoting 1.076 as a buy rate. and they will transfer the money direct. Sounds too good to be true, so why is there such a large discrepancy between the bank and these companies.?
and how quick can they do these transfers?

thanks for the help.

[RupertTheFridge]

peterpeter said:

Hi Im selling my car pretty soon, and the buyer from Germany wants to pay in euros.
Of course the rate is good, but the banks seem to rip you off on their "buy" quotes.

so even though the GBP-Euro is 1.06, they will buy at 1.15.

So what about foreign exchange transfer companies like " for-ex?"

Anyone used them..? they are quoting 1.076 as a buy rate. and they will transfer the money direct. Sounds too good to be true, so why is there such a large discrepancy between the bank and these companies.?
and how quick can they do these transfers?

thanks for the help.

Mules

[peterpeter]

cheers

[sneijder]

Glad I spotted this, I will soon have to move a similar amount of my own money from a Norwegian bank account to my unrelated UK bank account.

I stupidly assumed my Norwegian bank would give me the actual exchange rate, but that's going to be far from the truth I assume.

Looking at that Hifx site, the cost with them should be rather small.

[JMGS4]

Get the buyer to transfer via his account at the Postbank. They charge nothing for sending the monies, don't know their exchange rate though. I send monies to GB suppliers regularly this way and all are happy!