Sending or receiving funds between UK and overseas bank accounts

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If you’ve ever attempted to transfer funds from one account to another overseas, you’ll find that this can be an expensive process if done through a bank. Especially if you’re transferring different currencies.

This method used to be the only way in which you could move accounts from an overseas account to the UK or vice versa. This can be an expensive affair due to banks usually charging for commission and hidden costs.

One way in which to save money on Overseas Bank Transfers is by using our free quote service. If you need to send money abroad or receive currency from an overseas bank account, a dedicated foreign exchange broker can manage the entire transaction for you at a fraction of the cost of high street banks.

Benefits to doing this include lowering the charges banks implement for their service, no hidden charges or commission costs & the transfer providers and process are regulated by the Financial Conduct Authority. All these are met with the guarantee of the currency transferred to your account within 24 hours.

How does it work? 

Our form is really simple to fill out. Simply tell us some contact information, the countries you are transferring from & to and the amount you are wanting to transfer.

Once the form is filled out, our carefully selected money transfer providers will be in touch. They will offer you a quote with the costs of doing the transfer and additional information. If you choose to accept their offer they will tell you more useful information about the procedure.

As noted on our website:

If you are sending funds from a UK bank account to an overseas bank account:

You will need to transfer the funds to the broker’s account and provide them with the recipient bank account details. The broker will then exchange the funds into the appropriate currency and electronically transfer it over to the recipient account, usually within 24 hours.

If you are receiving funds from an overseas bank account to a UK bank account:

The sender will need to transfer the funds to the broker’s account using the account details provided. The broker will then exchange the funds into GBP and transfer them to the recipient account, usually within 24 hours.


For more information on our providers, the service itself and submitting a quote, be sure to check out:

https://www.compareholidaymoney.com/money-transfers/

Posted by Matthew Weston

Matt is a Freelance Writer and Travel Blogger. He also creates editorial and video content for UNILAD. Previously worked for the International Business Times and the BBC's Newsnight.

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