Currency Transfer Accounts

Currency transfer account -'With the ever-increasing ownership of overseas properties by the British, the banks are not missing out on the opportunity to cash in on the volume of international transfers that are being made. As they announce their profits of billions of pounds its obvious it’s the consumer who is paying.
A recent survey of UK high street banks to see how the exchange rates being offered vary, both from bank to bank and in comparison to rates offered by currency specialists. It was found that on a €200.000 transfer, this adds up to almost €4,000 in additional costs for the unwary. Furthermore it is not only on exchange rates that the consumer is losing out as expats in Spain are only too aware. UK banks charge up to £40 to transfer the money and then most Spanish banks levy a hefty charge to receive funds. Currency specialist companies offer vastly superior exchange rates and remove the receiving bank fees in Spain.
Setting up an account takes several days, and needs to be in place in reasonable time ready for the day you make your first transfer.