The Connexion's 16 page 2017 Currency Exchange guide contains information about transferring, timing, and optimising the rate you achieve when sending your money abroad.
France is a popular destination for Britons looking to move abroad, attracted by the lifestyle, the culture, the cuisine or the weather. However, uncertainty over Brexit and currency volatility mean it is now more important than ever for both Britons living in France and for those visiting holiday homes to consider all the options when it comes to getting the most from your pounds.
A transfer from a UK bank to a French bank remains the most obvious option and it has become simpler and cheaper due to the EU’s SEPA transfer system, which was introduced a couple of years ago for payments sent in euros.
Nonetheless, using your own bank for transfers will not necessarily give you the best deal. Whether it is for regular payments such as transferring your pension or paying a mortgage, or for a lump sum – as when buying a house – we look at what this involves and the alternatives such as using a foreign exchange specialist. Benefits of the latter can include competitive exchange rates – independent researchers DQM recently found that high street banks were charging, on average, around 2.4% more than foreign exchange specialists to exchange money.
Topics covered include:
Transferring your pounds to France in euros
Using your UK bank to make a transfer
Pensions – the direct payment option
Using an international money transfer specialist
Using British bank cards in France
Brexit and exchange rates
Questions and answers
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