|PIRAEUS BANK||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to EUR||NO MINIMUM||5/7 DAYS||1.9%||€1.138|
|EUR € - to GBP||NO MINIMUM||5/7 DAYS||1.9%||£0.846|
|BROKER RATES||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to EUR||From £100||From 1 DAY||From 0.7%||€1.152|
|EUR € - to GBP||From £100||From 1 DAY||From 0.7%||£0.856|
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
Answer: Using Piraeus 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 the exchange rate conversion when transferring money or payments overseas from your Piraeus Bank account in euros, the UK pound and other currencies. Piraeus Bank international money transfers to or from Greece have higher transaction charges, due to a less competitive exchange rate offered by Piraeus Bank. Skip to: Greece Money Transfer Specialists
Typically, sending funds to or from your Piraeus Bank account in euros, the UK pound or US dollar overseas bank account will involve a margin rate of 1.9% – much higher than most currency broker rates (typically 0.7 to 1.0%).
Sending foreign currency to or from your Piraeus Bank account in Greece 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 euro (EUR) using Piraeus Bank services would have a transaction exchange rate margin of around 1.9% – or 1,900 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 Piraeus Bank could take longer to arrive than using a private currency exchange provider and you will also need to be an existing Piraeus Bank account holder to use their services. Piraeus 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 (or 5,000 EUR).
Unless you pay a premium, Piraeus 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.
Created in 1916, Piraeus Bank AE is today the leading Greek banking organisation with over 600 local banking branches in Greece and over 200 branches abroad including within the cities of Frankfurt (Germany), and London (UK), together with the countries of Serbia, Romania, Bulgaria, Ukraine and Albania.