Chris Wilson Posted March 23, 2009 Share Posted March 23, 2009 I need to send funds to Sweden for some stuff I've bought. Total is about 7,000 Sterling. They ask if I want to pay in Euros or Swedish Kronor. This is probably straightforward, but I am having a blonde moment, what's best, do I need to look at exchange rates? Ideally I want to pay by direct bank transfer, from my UK bank account. Thanks. Quote Link to comment Share on other sites More sharing options...
stevie_b Posted March 23, 2009 Share Posted March 23, 2009 I don't think it matters in this case. Exchange rate fluctuations only really matter over time. Either way, £7k sterling plus foreign exchange fees will be leaving your account. It won't make a difference to you if the guy at the other end sees 9000 euros or xxx thousand kronas, you'll still be down by £7k. You might get a *slightly* better exchange rate (i.e. a narrower spread) on euros because they are so commonly traded. Quote Link to comment Share on other sites More sharing options...
hogmaw Posted March 23, 2009 Share Posted March 23, 2009 Use amex online, they only charge a tenner, your bank will charge you a £20-25 fee Quote Link to comment Share on other sites More sharing options...
dandan Posted March 23, 2009 Share Posted March 23, 2009 Last time I did this I just called my bank. They explained all the options and recommended the cheapest option - paying in sterling and only paying the UK bank fees. IIRC, paying in the foreign currency was going to cost more in fees. Quote Link to comment Share on other sites More sharing options...
stevie_b Posted March 23, 2009 Share Posted March 23, 2009 Just had a thought Chris: I assume that the seller is dictating the price in either euros or krona (rather than them accepting £7k worth of euros or krona). The point is, if they're setting the price in a choice of 2 foreign currencies (thereby using their own exchange rate), check with your bank which will cost you the least in sterling. Quote Link to comment Share on other sites More sharing options...
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