Converting Euro's

[MyM2006]

We've got about 250K in euros in our Barclays business currency account, was originally from a sale and was supposed to be reinvested. Now due to a change in circumstances we are looking to change this into GBP, whats the best way to get the optimal currency conversion rate on this sort of amount?

[alfabeat]

Wise are good for large currency exchanges with good exchange rates and fees. Very easy to set up.

[WH16]

^^^ Yeah, I put a fair bit through Wise every year. Not sure what their single-conversion limit is but the rates are good and fees much lower than the high-street equivalent.

[Big E 118]

www.misanopayments.com

This guy is a PH'er. I've not used him yet but have had a couple of convo's over email about a future transaction. Rates seemed very fair.

[Cupid-stunt]

Big E 118 said:

www.misanopayments.com

This guy is a PH'er. I've not used him yet but have had a couple of convo's over email about a future transaction. Rates seemed very fair.

Have used him and was as good as Wise - so gave the business to a fellow PH'er.

[Geoffcapes]

Open a Monzo (or similar such account) and transfer it into there.

You can transfer it into sterling or whatever currency at the daily rate.

[Shnozz]

Wise or Revolut for me. I do conversions monthly but used Wise when I was transferring a similar figure to yours for a house purchase.

[RizzoTheRat]

Geoffcapes said:

Open a Monzo (or similar such account) and transfer it into there.

You can transfer it into sterling or whatever currency at the daily rate.

With Revolut, who also operate like that, there's a limit to how much you can transfer per day depending on the "level" of the account you have, with higher levels costing more. The free one is about 1k/month and then you pay 1% on transfers above that, so it's well worth paying for the more expensive account if you want to transfer larger amounts. I'd guess that Monzo and other similar banks have operate in similar ways.


Living in the EU, most of my British colleagues who transfer money back to the UK tend to either use Wise for large amounts or free versions of Revolut or similar accounts to move small amounts.