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  • Spotlight for GDP

    29 April 2014

    We opened the currency markets yesterday to a rather quiet trading day, with rates looking similar.

  • Short trading fuels UK focus

    28 April 2014

    Due to a short trading week last wee we saw most of the major currencies fairly quiet, whilst most traders expected a fairly positive week the pace was very slow.

  • Pound remains flat against Euro

    24 April 2014

    Already this week we have seen a quiet, flat week with little news for trading and any gains for the Pound.

Eurozone Payments

Transfer money to Europe

There are many reasons you may need to make a Euro money transfer. For example, you might be preparing to emigrate and want to have funds available when you arrive at your new home. Perhaps you're buying or selling an overseas property, or maybe you're managing overseas currency payments for a business.

 

Whatever the situation, one key consideration before you transfer money to Europe is to ensure you're getting the best rates possible, and it's important to do plenty of research before you start moving money around.

 

Here at International Payments, we understand that European money transfers can be confusing and expensive without the right assistance - and that's why we offer help and advice to anyone who is looking to make a transfer. We can put you in touch with a company authorised by the Financial Services Authority (FSA) to get you through the process quickly and easily - and with the best rates possible.

 

The options available within the EU, Eurozone and beyond

When you transfer money to Europe, there are two different options to consider, and the right choice will depend on the country you're sending the money to and from, as well as the speed of the transaction.

 

If you're moving funds within the Single Euro Payments Area (SEPA), then a SEPA payment is generally the best option.

 

The SEPA region comprises the 27 European Union countries - both those within the Eurozone and those that use other currencies: Austria, Belgium, Bulgaria, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK. It also includes Monaco and the members of the EFTA (European Free Trade Association) - Iceland, Liechtenstein, Norway and Switzerland.

 

SEPA payments are a fast and cheap method, and the money usually arrives within one or two working days. What's more, banks aren't allowed to make a charge to receive funds, so it should save you money - particularly if you're sending a large amount and the bank you're dealing with would otherwise charge a fixed percentage.

 

Meanwhile, if you want to transfer money to other locations in Europe that aren't members of SEPA, a telegraphic transfer is probably the better choice. Also known as a TT or Swift payment, these transfers also occur in a single day if sent from the UK, so are ideal if you need to move money around immediately. However, depending on where the money is being sent, there may be a charge applied to the transaction.

 

To know for sure which option is the best way to transfer money to Europe, it's best to get advice from an FSA-regulated broker. They will be able to provide reliable advice, with the details of your situation in mind.

 

However you choose to transfer the funds, you'll need to have some information to hand before you send money to Europe - such as the IBAN (international bank account number), BIC (bank identifier code), bank name and beneficiary's name.

 

Euro money transfers with help from International Payments

International Payments was established to make the process of making Euro money transfers easy and hassle-free, whether you are making a one-off payment, or need to send money on a regular basis. We can even provide set rates for up to two years as necessary.

 

If you'd like to find out more about the process, get advice from a qualified expert or to find out about the currency rates, simply fill out the form at the top of this page. An FSA-regulated adviser will get in touch with you to provide a competitive exchange rate and help you through the process.