Exchange rates

[sam]

When I first used the free transfer scheme for Millennium I transferred a small amount first to check it worked and the exchange rate. I got a better rate and it took less time than my existing currency transfer firm, so chamged. Give it a try with a small amount

[ron5000]

I changed £1500 yesterday from my supposed london branch to my branch here and was charged 25 quid, supposed to be free transfer. Bank here did the usual shrug and said there was a charge from sterling to euro although I transferred to my sterling account here. Transferred £3814 from my supposed sterling account in London to a uk account and was charged 39 Pounds, the beneficiary account sent the transfer back saying insufficient information although I had used the transfer before and was charged 49 euros. For reasons that the bank know best the charge was from my euro account which doesn't have any money, this put me in unofficial overdraft and will cost me another x amount. Please try to avoid santander

[maccasa]

Santander clearly state that to transfer money from a UK branch to overseas, costs £25 irrespective of the amount. (note HSBC charge £17!) But that's Santander - this is Santander-Totta, at the only branch in UK. I am now in contact with them to find out the various aspects - cost? rate? etc. will revert when I find out all of the info.

If its not favourable, I shall go back to my usual, hassle free, cash over the counter at Santander Totta where its bank rate less ~1.5% and €7 to put it into my account

[maccasa]

I have now checked with Santander Totta in London and the letter ANDY got was correct. You simply make a TT from you own (any) bank to the London Santander Totta - code 40-62-32 - stating your name and account number (of Totta in CVO) and the money is transferred FOC to your account.

The CVO branch use the standard interbank exchange rate transfer of 1% to change it to €, and then the normal bank cost for putting cash into yr account - about 7€ - so for £1000 it costs ~ £15 total.

Thanks ANDY

[Bruce Wallis]

I have now checked with Santander Totta in London and the letter ANDY got was correct. You simply make a TT from you own (any) bank to the London Santander Totta - code 40-62-32 - stating your name and account number (of Totta in CVO) and the money is transferred FOC to your account.

The CVO branch use the standard interbank exchange rate transfer of 1% to change it to €, and then the normal bank cost for putting cash into yr account - about 7€ - so for £1000 it costs ~ £15 total.

Thanks ANDY

That is still £5 more than I pay.....

[Geoff]

Sounds good Bruce, please let me have the name of your dealer.

Please PM me details too Bruce.....I though the new(ish) online NatWest service was good, today's rate being 1.209 plus £10......what is your dealers rate today?

[maccasa]

That is still £5 more than I pay.....

Perhaps, but I never moved from my chair to do it.....so I didnt use my car or risk a speeding fine to fetch it........

[ANDY]

[TCSltd]

Does anyone have any experience of exchanged Pounds in currency at a Portuguese bank? It is a question I often get asked but have never tried myself. Is the rate good? do they take a commission?

[maccasa]

If you look back in this post you will see you get good rates "over the counter" at millenium and Santanfder totta - much better the most uk sources - certainly better than travelex!

[ANDY]

I got 1.24€60 from Santanfder totta today

[sam]

I made a free transfer last week via Millennium's system from Uk to Portuguese account. Took 2 days and I got 1.2255 euros to the £

[Geoff]

I made a free transfer last week via Millennium's system from Uk to Portuguese account. Took 2 days and I got 1.2255 euros to the £

Sounds good, we have a Portuguese Millenium account, but didn't know they had branches/accounts in UK.....could you please advise how to get one?

[sam]

I made a free transfer last week via Millennium's system from Uk to Portuguese account. Took 2 days and I got 1.2255 euros to the £

Sounds good, we have a Portuguese Millenium account, but didn't know they had branches/accounts in UK.....could you please advise how to get one?

You don't need another account. You pay from your UK current account into a Millennium account with HSBC in the UK. You do not need to bank with HSBC, and it can be done on line.
Pay into:- Sort code 400250, Account Number 61320874, Account name Millennium bcp
You need to quote a reference number, which is your Millennium account number less the 0s at the front (11 digits)
The letter re: the service was in Dec 2010. At that time there was a Uk number for further info 02074894800. There is an earlier thread on this topic on the forum

[maccasa]

Paid £1000 into the London Santander Totta account by T/T from my uk bank and it was transferred to my account in CVO at the day's rate of 1.2413 - no commission, no reduced rate!

I owe you a beer Andy!