Transferring a very large sum abroad

A question about : Transferring a very large sum abroad

Hi all
I will be moving abroad in a few weeks and need to transfer the proceeds of a life insurance payment to my new bank account abroad (GBP to euros). Any ideas how I can do this without paying ridiculous fees? And also where to get the best rate?
Thank you

Best answers:

• Contact a few international money transfer specialists to get an idea of what kind of rates they can offer, you will usually not have to pay any transfer fee if you are sending a large amount. Ensure that the company you choose to use is FCA Authorised and well established.
• Agree with the above.
  If you will be regularly using Sterling and Euros, it is worth looking at some banks e.g. Citibank where you can have a account both Sterling and Euro current and saving accounts and the ability to transfer 'instantly' between accounts - on-line or by telephone. Exchange rates not quite as good as the best FX brokers.
• I use hifx.co.uk to transfer money to Spain for my Timeshare management fees and also for my Spanish mortgage transfers. You can transfer from Ј50 to Ј50M+ and their service is excellent. Ј9 charge for transfers under Ј2000, no charges above Ј2000. I always get a better rate than any of the banks I use and the money usually arrives within 3-4 days. My Timeshare club put us all onto them to get the best exchange for paying our fees and they have been first class for my mortgage payments. I also use them for a 3 monthly regular payment of 180 Euros to the guy who cleans my pool in Spain. Being Scottish I always do a check against what the bank would give and the bank comes second every time. Best wishes and I have no connection to HIFX except being a customer.