Assuming you are considering purchasing a property, at some point you will undoubtedly need to transfer a substantial sum from the UK to an account here. It is perfectly possible to arrange this kind of transfer using one of the high street banks with whom you probably have an account ( Barclays, Royal Bank of Scotland etc. ) however their exchange rates and commissions are significantly less favourable than those offered by specialist foreign exchange brokers. There are a number of companies who specialise in offering wholesale market rates to individuals and companies. Typically you will only be quoted a specific rate when you have indicated the sum you wish to transfer, and the broker has identified a purchaser for your currency. The quote is only likely to be valid for a matter of minutes.

We recommend the services of Foreign Currency Direct from personal experience. All our Sterling to Euro transactions at FCD are managed by Aidan Kilvington, who has provided personal guarantees that customers of Pyrenees Homes will receive a 5 star service. In our experience transactions arranged through FCD are always at the most competitive rates, and the service is fast and efficient. We estimate that typical savings with FCD over high street bank transactions are in the region of 1%, or £1000 saved for every £100,000 transferred. To start the simple customer sign up process just call Aidan on 0800 328 5884 from within the UK or +44 1494 725 353 if you are already abroad, or create an account via the FCD website by clicking on the link below.

http://www.currencies.co.uk

When you are transferring monies abroad to complete your house purchase you are likely to encounter a couple of pieces of terminology that can be confusing. The most likely mechanism your bank or broker will use to transfer money is called a SWIFT transfer. SWIFT is simply a secured mechanism for making international money transfers. You will probably be asked for the SWIFT code or address of the destination bank. This is an 8 character code and your foreign bank should be able to provide you with it. Sometimes the SWIFT code is known as a BIC ( "Bank Identifier Code" ). You will also need the IBAN ( "International Bank Account Number" ) of your account. This will be a series of letters and numbers of up to 34 characters ending in your sort code and account number. Again your bank should be able to tell you the IBAN number of your account, and in many cases it will now be printed on your statements and other bank correspondence.