|SOCIETE GENERALE||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to EUR||NO MINIMUM||5/7 DAYS||4.5%||€1.073|
|EUR € - to GBP||NO MINIMUM||5/7 DAYS||4.5%||£0.85|
|BROKER RATES||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to EUR||From £100||From 1 DAY||From 0.7%||€1.116|
|EUR € - to GBP||From £100||From 1 DAY||From 0.7%||£0.884|
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
Answer: Using Societe Generale 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 or making payments overseas from your Societe Generale bank account in euros, UK pounds and other currencies. Societe Generale international money transfers to or from France have higher transaction charges, due to a less competitive exchange rate offered by Societe Generale. Skip to: France Money Transfer Specialists
Typically, sending funds to or from your Societe Generale bank account in euro, UK pounds or US dollar overseas bank account will involve a margin rate of 4.5% – much higher than most currency broker rates (typically 0.7 to 1.0%).
Sending foreign currency to or from your Societe Generale bank account in France 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 Societe Generale bank services would have a transaction exchange rate margin of around 4.5% – or 4,500 EUR. Using a specialist broker, in this example Currencies Direct – 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 Societe Generale could take longer to arrive than using a private currency exchange provider and you will also need to be an existing Societe Generale bank account holder to use their services. Societe Generale 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, Societe Generale’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.
Societe Generale was created in 1864 and is a major bank in France serving customers through over 2,000 local French banking branches. Societe Generale is France’s third largest bank by total assets and is the sixth largest bank in Europe, with subsidiaries abroad and presence in about 85 countries.