|ERSTE BANK||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to EUR||NO MINIMUM||5/7 DAYS||2.7%||€1.137|
|EUR € - to GBP||NO MINIMUM||5/7 DAYS||2.7%||£0.833|
|BROKER RATES||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to EUR||From £100||From 1 DAY||From 0.7%||€1.16|
|EUR € - to GBP||From £100||From 1 DAY||From 0.7%||£0.85|
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
Answer: Using Erste bank 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 exchange rate conversions when transferring money overseas from your Erste Bank account in euros, UK pounds & other currencies. Erste Bank international money transfers to or from Austria have higher transaction charges, due to a less competitive exchange rate offered by Erste bank. Skip to: Austria Money Transfer Specialists
Typically, sending funds to or from your Erste Bank account in euro, UK pounds or US dollar overseas bank account will involve a margin rate of 2.7% – much higher than most currency broker rates (typically 0.7 to 1.0%).
Sending foreign currency to or from your Erste Bank account in Austria 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 Erste Bank services would have a transaction exchange rate margin of around 2.7% – or 2,700 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 Erste Bank could take longer to arrive than using a private currency exchange provider and you will also need to be an existing Erste Bank account holder to use their services. Erste Bank 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, Erste Bank’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.
Erste Bank (part of Erste Group) was created in 1819 as the first Austrian savings bank. Since then, Erste Group has developed into one of the largest financial services providers in the Eastern part of European Union, servicing 16.5 million clients in a network comprising nearly 2,900 branches in 7 countries including Austria, Czech Republic, Slovakia, Romania, Hungary, Croatia and Serbia.