buying lots of Euros

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C240Sport97

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mate just bought a flat in Spain.

needs to send around 550,000 Euros in around 2 weeks.

wondering where to get the best deal for the Euros.

ideas and suggestion much appreciated please.
 
I used FairFx to send me €4000 recently - they were just one point below midrate, which was about 5% better than a high street bank. Money arrived when they said it would.

I think for the sum involved your mate's bank might sharpen its pencil too.
 
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So I use transfer wise .Found them to give the best deals .

If you send me his email , I'll send him a special link to get it cheaper .
 
He's picked a good time to be buying in Euros, the exchange rate is very good ATM.

On a personal note, I'd be interested to see how Post Office fair for this.
 
He's picked a good time to be buying in Euros, the exchange rate is very good ATM.

On a personal note, I'd be interested to see how Post Office fair for this.

Err , not very well . ;)
 
Err , not very well . ;)

What makes you say that?
I'm curious because I recently heard they are the largest high street currency transactor in the UK, so wondered if they would be competitive.
 
I have used currencies direct and ace fx as well as city forex in the past.

currencies direct have always provided the best deal, albeit for a few thousand US$
 
Post Office are fine for a few hundred euros - but for amounts in tens of thousands the specialist currency transfer firms can be a lot better.
 
PO/TransferWise

What makes you say that?
I'm curious because I recently heard they are the largest high street currency transactor in the UK, so wondered if they would be competitive.

Mate ,just do a search and see what the PO will give you in comparison to online specialist exchange institutions .
 
We transfer several £000s to euros every month and, after trying them all, find CurrencyFair the best.

You can do a quick trade, which gives around half a point below rate, or trade a set amount, which usually gives a higher rate.

Worth your friend having a look at them.

Stuart
 
Whoever you decide to use give them plenty of notice.

A first time client attempting to transfer (especially Eur550k) will run head first into Anti Money Laundering paranoia.
 
Whoever you decide to use give them plenty of notice.

A first time client attempting to transfer (especially Eur550k) will run head first into Anti Money Laundering paranoia.

thanks.

that's why we are looking for recommendations now.
 
We have facilities with these people Monex Europe | Europe?s leading commercial foreign exchange specialist they do us very good rates and we only buy US$ once or twice a month (anything from $40,000 to $300,000 a month).

Certainly worth a call.

It took us a week to open the account for reasons mentioned by Satch.

They will need passport details, residency details, copies of bank statements providing evidence where the Euro 550K came from. etc etc.

Very difficult now to move 6 figure sums of money when you have no track record of doing so.
 
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I use thomas exchange global as well, but I tend to use them for a thousand or so at a time... never tried a major transaction....

M.
 
Mate ,just do a search and see what the PO will give you in comparison to online specialist exchange institutions .

That wouldn't be what they could achieve for a significant transfer sum.
 
How is the property market in Spain?

my question to my mate, among many others

apparently, there are developments which are holding up and have held up well, price wise
 
Echo other posters comments about the money laundering regs.
We bought a house & needed to buy Euros. Lloyd & the team were great. Excellant rates .



LLoyd Barnett
Trading Floor Manager | Excel Currencies
T: +44 (0) 1322 221 121 | M: +44 (0) 7788 11 6363
 

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