|BANK AUSTRIA||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to EUR||NO MINIMUM||5/7 DAYS||3.6%||€1.067|
|EUR € - to GBP||NO MINIMUM||5/7 DAYS||3.6%||£0.871|
|BROKER RATES||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to EUR||From £100||From 1 DAY||From 0.7%||€1.099|
|EUR € - to GBP||From £100||From 1 DAY||From 0.7%||£0.897|
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
Answer: Using Bank Austria services, the exchange rates shown are typical. All banks have individual rates and commission structures for international currency transfers. Find the latest exchange rates for an overseas bank using our Bank Rate Comparison below:
Save on the exchange rate conversion when transferring money overseas from your Bank Austria account in euros, UK pounds and other currencies. Bank Austria international money transfers to or from Austria have higher transaction charges, due to a less competitive exchange rate offered by Bank Austria. Skip to: Austria Money Transfer Specialists
Typically, sending funds to or from your Bank Austria account in euro, UK pounds or US dollar overseas bank account will involve a margin rate of 3.6% – much higher than most currency broker rates (typically 0.7 to 1.0%).
Sending foreign currency to or from your Bank Austria account needn’t be a complex matter, moreover, you can save time and money when you use a specialist currency broker instead.
Specialist foreign exchange companies including our recommended providers here can save you money and time on the transaction. Our recommendations are based on international coverage and office locations together with the lowest foreign exchange margin rates offered.
Example: A typical overseas currency transfer of 100,000 euros (EUR) using Bank Austria services would have a transaction exchange rate margin of around 3.6% – or 3,600 EUR. Using a specialist broker, in this example TorFX – the exchange rate margin would work out at 0.7% – or only 700 EUR in total, which is a large saving over the bank service.
International money transfers from Bank Austria could take longer to arrive than using a private currency exchange provider and you will also need to be an existing Bank Austria account holder to use their services. Bank Austria may additionally charge a flat rate commission fee when sending money abroad into another currency and bank transfer commission fees vary depending on the amount you need to transfer. Private brokers offer commission free currency transfers, typically over a value of 5000 euro.
Unless you pay a premium, Bank Austria’s service will take from 5 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction either same day, or next day.
Bank Austria (owned by Italian banking organisation UniCredit, one of the largest European banking groups) was created in 1855 and today is one of the largest banks in Austria with over 300 local banking branches. Bank Austria also operates services in central and eastern Europe which includes over 3,500 offices in 19 European countries.