How to convert pounds to euro/$. Not in forex

[Old Greg]

I used transferwise to convert a large amount from £ to €. Market rates + 0.5% commission.

You get a quote and then have 24 hours (IIRC) to complete the transaction or cancel. So it's worth getting a quote just before an event such as Interest Rate decision. I did well by getting a quote, then cancelling to get a better quote.

[greenlake]

I change money for you, good exchange rate, any currency....

[Bacchus]

Hi,

what is the best way to convert pounds to euro or/and $?
Say I have a pounds bank account and a euro account. Today £/euro is 1.2833 (xe.com). How can I convert say £1000 and get 1283.30 euro in my euro account?
I don't mind a small commission or say lower rate, but it must be reasonable.
I am not interested in forex.
Any ideas.

Have a look at revolut for those sort of amounts - basically an "app" which lets you keep a balance in different currencies and switch them around at pretty close to the spot rate.

I think you get a card which allows you to withdraw cash from your account in the country of choice

https://revolut.com

[Mordac]

Hi,

what is the best way to convert pounds to euro or/and $?
Say I have a pounds bank account and a euro account. Today £/euro is 1.2833 (xe.com). How can I convert say £1000 and get 1283.30 euro in my euro account?
I don't mind a small commission or say lower rate, but it must be reasonable.
I am not interested in forex.
Any ideas.

Euro bank account, linked to a credit / debit card. Been there, done some of it...forgot to mention, might not have paid tax on all of it...

[AtW]

LLoyds trading desk, around ~0.6% for good customers, more for everybody else...

[fullyautomatix]

Are you trying to hedge against a £ collapse if the EU referendum goes the other way ?

Remember, forex betting is pretty risky and in no time you could lose a lot. I personally know friends of mine losing shed loads of cash when the CHF EURO floor was removed by the Swiss bank.

[jamesbrown]

Are you trying to hedge against a £ collapse if the EU referendum goes the other way ?

Remember, forex betting is pretty risky and in no time you could lose a lot. I personally know friends of mine losing shed loads of cash when the CHF EURO floor was removed by the Swiss bank.

I wondered the same thing, but that wouldn't be a good play, as the EUR would also depreciate significantly. Chances are there will be a remain vote (almost certain IMO), and Cable and Eurodollar will appreciate somewhat, perhaps 5% on Cable. A leave vote might see Cable drop 15-20% over the subsequent months, less on the Eurodollar (although I wouldn't be confident on that). Anyway, enormous event risk, so not something for the faint of heart, but you'd be better holding USD in the event of Brexit, not EUR.

[garnet]

I wondered the same thing, but that wouldn't be a good play, as the EUR would also depreciate significantly. Chances are there will be a remain vote (almost certain IMO), and Cable and Eurodollar will appreciate somewhat, perhaps 5% on Cable. A leave vote might see Cable drop 15-20% over the subsequent months, less on the Eurodollar (although I wouldn't be confident on that). Anyway, enormous event risk, so not something for the faint of heart, but you'd be better holding USD in the event of Brexit, not EUR.

What is Cable?

I am on the opinion that a IN vote will make the £ stronger at least in the short term. We will see. The revolut seems interesting even for larger sums.

[WTFH]

What is Cable?