Moving out at beginning of October next year and wondering which is the best and cheapest way to transfer rental money.
I want to keep my money with Barclays U.K.
Do I need to set up a bank account over here or can I do it cheaply online?
We've just transferred (online)£1200 to bank of Cyprus from Barclays for deeds, they charged us £15 to transfer & got 1.235 for exchange rate. We normally put money into N&P (UK) and withdraw from cashpoint get 1.27 and no charges. Only did it as we weren't told deeds were ready otherwise would have bought cash over
Yes you will need to open a bank account in Cyprus then Currency Fair is your best option IMHO. I keep our money in our UK bank accounts then transfer out as and when needed all done online. Current exchange rate is 1.2671, (bank rate is around 1.2333) and their fee is 3 euros no matter what the amount is your transferring. I usually request a transfer in the morning and it is in my BOC account early evening on the same day.
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