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Transferring money to the UK

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  1. #11

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    Quote Originally Posted by michaelh1997
    Okay i should also ask whats the best way of sending back home some money monthly too lol maybe like a couple hundred?
    Sending back a couple of hundred every month will make no sense as the fees will eat you up.....

  2. #12

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    Aug 2017
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    Quote Originally Posted by HowardCoombs
    Sending back a couple of hundred every month will make no sense as the fees will eat you up.....
    No no the monthly money is to pay bills back home.. so seperate to the initial saving money i referred to

  3. #13

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    Quote Originally Posted by michaelh1997
    No no the monthly money is to pay bills back home.. so seperate to the initial saving money i referred to
    I understand but that doesnt change the problem. No matter if you send 200 or 2000 - you will pay fixed transfer fees of close to 20 pounds (+/- 5) : you need to find a more cost effective way to do the transfer or get someone on the other side to pay for you and you pay once at the end of the year (or some similar arrangement) .

  4. #14

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    Quote Originally Posted by michaelh1997
    So HSBC in HK right?
    Yes. You pay about two hundred bucks in fees and lose a bit on their exchange rate. Takes five minutes in a branch.

  5. #15

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    Quote Originally Posted by michaelh1997
    a couple hundred?
    GBP or HKD.

    Just look at the Fees and rates. Some have low fees but terrible rates. Others have high fees and better rates.

    10 Popular Fintech Money Transfer Companies | TechBullion

  6. #16

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    Quote Originally Posted by HowardCoombs
    Sending back a couple of hundred every month will make no sense as the fees will eat you up.....
    this is the bottom line ... each transaction has a fixed cost which kills you for small transaction amounts.

    Find someone to pay the monthly bills for you at home and pay them when you get back.

  7. #17

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    I recently asked HSBC and they said the transaction fee was HK$ 280 per transfer. For your "couple of hundred" that's over 10% for the fee, not including any exchange rate losses or any charges at your UK bank.


  8. #18

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    Jan 2014
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    like others have said, there's a per-transaction fee. so avoid frequent transfers if you can.
    if you have a bank you've worked with back in the UK you should contact them and find out.
    i've done it, it's a bit of a hassle and you can't keep all your money but bank-to-bank wasn't that much of a hassle or that unreasonable.
    or you can go old skool and buy travelers checks.


  9. #19

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    I am following a discussion on another forum. There some participants from the UK seem happy with TransferWise.com. Disclaimer: I haven't tried it myself yet, but the fees involved seem lower then when using a international money transfer from bank A to bank B in another country.


  10. #20

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    Dec 2013
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    Quote Originally Posted by Windmill65
    I am following a discussion on another forum. There some participants from the UK seem happy with TransferWise.com. Disclaimer: I haven't tried it myself yet, but the fees involved seem lower then when using a international money transfer from bank A to bank B in another country.
    I'm pretty sure that they don't do HKD>GBP, just the reverse.

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