Nat west/millennium bcp

[tricky]

Hi. I understand that I can deposit money into the Nat west in the uk and show my bcp account number to transfer monies to Portugal at no or a low cost. Does anyone know if I can do this on line. Even though I don't have a Nat west account? Do I
Just search on my bank for Nat west account number I have tried this before and it took the money and then gave it me back the next day. So I obviously did something wrong

[logicbob]

I would have thought you would need a Natwest bank account to put the money in to be able to transfer it.

[e-richard]

I use a similar system to transfer from my UK Barclays to my BPI bank in Lagoa via HSBC, so MAYBE this will help.

All I do is a simple UK transfer from Barclays to a BPI account at HSBC, but the important bit is to enter a long reference number that was specifically given to me by BPI.
The cash goes from Barclays to HSBC in Sterling, then immediately to Portugal at an exceptionally good rate that I've been unable to beat with any other forex provider.

a) One does not need an account at HSBC
b) We did need to get that special number from BPI

This sounds similar to the arrangement you are attempting, but you probably need to contact Millenium for instructions.

[tricky]

Thanks Richard. I've got the codes etc from bcp. Think I've worked it out thanks

[TCSltd]

I use this service regularly and pay via my first direct account. You do not need a Westminster Bank account.

Simply set up a payment to Millenium BCP sort code 60.00.04, account no: 10013458. Reference your Millenium bank account number. then the amount in GBP.

It usually takes a couple of (working) days and I find the rate to be the best obtainable for relatively small transfers. No charges here, but Millenium always take a small cut(couple of euros).

[Aldo]

The service is also available via Barclays to a Banif account. You do not need a Barclays account and great FX rate

[Bruce Wallis]

I understand that this method does have drawbacks, mainly that you get Nat Wests exchange rate, which is definitely not the best available, and also they charge a transaction fee.

My experience is that the best thing to do is to Set up an Fx account with somebody like Premier Fx in Almancil
They will give you one cent below the current interbank, or "spot rate" bank exchange rate and with no admin charges.
All you do is use online banking to transfer your sterling into their UK bank account, then they transfer the euros directly into your Portuguese bank account.
Once you have this set up, all it takes is a phone call to premier fx in Almancil to make the deal, and just transfer the sterling between the 2 accounts in your online banking.
A process that takes less time than its taken me to type this post

[tricky]

We need to talk bruce