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What's the cheapest way to pay Euros into a Dutch bank a/c?

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Old 05-23-2002 | 11:40 AM
  #1  
arsie's Avatar
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From: Sunny Norf*ck
Default What's the cheapest way to pay Euros into a Dutch bank a/c?

You guessed, I'm ordering from Ferry at Verlagen. The local dealer in Norwich is friendly but the word is they (Honda UK) can sell all the MY2002s they got and no good deals on a well used MY1999. Maybe I was a bit too up-front with my knowledge of the import options - thanks to you lot

I can ask my bank but they're almost always expensive and self serving (Lloyds TSB). My question is, what are the options? SWIFT? Bankers draft? Visa credit or debit card?

In my innocence I'm not worried about speed, to a few days, even though the exchange rate is at a 6-month low, 4 points down in the last week or so. Bank charges and/or commission in th UK are likely to be more significant I feel?

Any advice welcome
Cheers guys,
Rog
Old 05-23-2002 | 01:13 PM
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Ade
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Use an exchange dealer like Currencies Direct or HiFX. They'll get you a better rate than the bank and will handle the transfer as well. They'll even try to find a still better rate for you if you instruct them to do so.

I'm just sorting out the money for my car from Ferry. I'm getting a rate of 1.62 today because I ordered the money back in Febuary.

www.currenciesdirect.com

The website explains it a bit further.
Old 05-23-2002 | 01:49 PM
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I got my mother to do it
Old 05-23-2002 | 01:51 PM
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Rog, I used currencies direct as per Ade's comment when I imported my S2000 from Brussels last year.

You typically agree with the the total amount you want to pay (Lets say
Old 05-24-2002 | 02:57 AM
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I used HIFX and would recommend them! It doesn't cost you a penny!

I used them to transfer the deposit and also the final balance! You send the sterling via BACS to HIFX and then they transfer it for you for free!

I transferred about
Old 05-24-2002 | 04:06 AM
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I also used hifx and can highly recommend them, also they will allow you to fix a forward rate for when your car is due, as the Euro has been gaining in strength recently I would recommend doing this, you have to deposit 10% of the forwarding value i.e. presuming your depositing 25%, you would deposit a further 7.5% to fix the forward rate.
Old 05-24-2002 | 04:43 AM
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HIFX is the one to use.

They will transfer your money at no extra cost and if you can send them a cheque you dont get the stupid 20 quid chaps fee I had to pay.


Often.
Old 05-24-2002 | 05:26 AM
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Couldn't find Moriaty's mum's URL so will pick from the others. Thanks guys.

Ferry says his RHD order on plant has to go to them in the first week of each month so hopefully the week I've got to pay the 20% deposit in Euros will be enough time. Have to be spot.

Any opinions on the forward GBP/Euro rates? Does anyone suspect as I do that UKgov is already starting to go to work behind the scenes to devalue sterling to prepare the way for Tony's hoped-for EU Presidency?

Rog
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