What is the best way to transfer money from Germany into UK Bank Account?
I am moving to Germany (am British), and wonder what is the best (cheapest?) way to transfer money from a bank account in Germany to a UK bank account on a monthly basis. I think a SWIFT payment would cost £25 each month which is a lot!
I work with a lot of Germans in England. Aparantly a law was passed in Germany a while ago telling banks that they are not allowed to charge more for an internation xfer than they do a domestic.
Since, they have to do free domestic xfers or all there natural customers would leave, international ones are also free!
I would recommend you get your account upgraded to a multi-currency account to handle Euro's as well. This way you will not get your money exchanged automaticaly and you can sit on your euro's in your account until YOU are happy with the exchange rate.
If you're transferring over £5,000 use www.hifx.co.uk, they give good rates and its fast (you'll save about 5% on your banks rate). I did it last week, very good service.
