Hi Louise - I've been using Currencies Direct for 2 years now - but best rates and no commission if you transfer t least £5k at a time.
I've been basing this on their on-line information which says they cannot transfer funds overseas. Perhaps I should speak to them instead, an expensive and frustrating process which I tend to avoid because they all have lo-call numbers which cost a fortune from here.I'm a bit confused, your UK banks cannot send funds to French banks? Why ever not? I've been doing this for twenty years via the straightforward international transfer system, bank to bank. Takes 24-48 hours.
Two months in to the French adventure and still such a lot to sort out... And should it really be snowing in Provence?
Can anyone advise, please, on transfer of funds into France? I need to bring monthly amounts across from the UK while I get my business established. I was given advice locally that MoneyCorp was a good way of doing it. I registered and tried it: last month they gave me an exchange rate of 1.07 while my UK bank gave me 1.08 and my partner's UK bank gave him 1.12!!
But our UK banks cannot transfer directly into our French bank (Barclays) so we have to dash around drawing cash out of ATMs and taking it the bank (an hour away) to pay it in
Any recommendations that perform better than MoneyCorp gratefully received.
Louise x
Hi,You need a bank account in France
You can obtain it (Without incomes proofs ) from Caisse d'Epargne and la Poste.
In my French bank 12 transfers for free in a year.
I suspect Gallus is talking about transfers to banks within France - something the banks are starting to "push" what with Internet accounts and all.Hi,
Do you know if I can do this from outside France - I'm looking to set up a Euro account for future use. I'd also like to know how you got 12 transfers for free, the last time I used an IBAN transfer they charged me £49 for a transfer of €250 !!
Thanks
David
We have a joint French account as well as accounts with two credit unions in the States. My credit unions will be more than happy to transfer funds to our French account but when all the dust clears, we end up paying a hefty fee on the French side.I suspect Gallus is talking about transfers to banks within France - something the banks are starting to "push" what with Internet accounts and all.
Until you are actually resident in France, you'll probably be limited to a "foreigner" account (I think they're actually called "non-resident"). There are a few limitations on such accounts, though nothing too onerous. It would, however, be a good idea to set up your bank account on your next trip to France.
The trick is that banking in France is very much local. Bank X may be great in one town, and awful in the next, so once you're resident, you want to put your bank account in a bank that is nearby (since you do have to stop into the bank for certain transactions) and "sympa" at least in the local branch.
Cheers,
Bev
That's a point worth mentioning. Many banks have a whole range of "plans" whereby you pay a set fee (per month or per year) and then get many of the various services as part of the deal - transfers, bank cards (deferred or not), Internet banking, overdraft protection, etc.I
12 electronic transfers for free is included in my banking services package which includes 2 Visa security reinforced debit cards (stolen money refund+insurance) at so called "discount" price, electronic banking for free, but I pay for the rest (cheques and cash withdrawal abroad). This a large French bank with one subsidiary only (in Paris).
Thanks to all for the data, very useful.That's a point worth mentioning. Many banks have a whole range of "plans" whereby you pay a set fee (per month or per year) and then get many of the various services as part of the deal - transfers, bank cards (deferred or not), Internet banking, overdraft protection, etc.
Basically, nothing is free from the French banks. (As Coton noted, you normally get charged for the bank "accepting" a wire transfer from abroad.) But if you check their various plans and programs, you can usually find something that offers the services you tend you use for a somewhat reasonable fixed fee.
Cheers,
Bev