|BANQUE RAIFFEISEN||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to EUR||NO MINIMUM||5/7 DAYS||4.0%||€1.076|
|EUR € - to GBP||NO MINIMUM||5/7 DAYS||4.0%||£0.857|
|BROKER RATES||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to EUR||From £100||From 1 DAY||From 0.7%||€1.113|
|EUR € - to GBP||From £100||From 1 DAY||From 0.7%||£0.886|
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
Answer: Using Banque Raiffeisen 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 or payments overseas from your Luxembourg Banque Raiffeisen account in euros, the UK pound & other currencies. Banque Raiffeisen international money transfers to or from Luxembourg have higher transaction charges, due to a less competitive exchange rate offered by Banque Raiffeisen. Skip to: Luxembourg Money Transfer Specialists
Typically, sending funds to or from your Banque Raiffeisen account in euros, the UK pound or US dollar overseas bank account will involve a margin rate of 4.0% – much higher than most currency broker rates (typically 0.7 to 1.0%).
Sending foreign currency to or from your Banque Raiffeisen account in Luxembourg 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 Banque Raiffeisen services would have a transaction exchange rate margin of around 4.0% – or 4,000 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 Banque Raiffeisen could take longer to arrive than using a private currency exchange provider and you will also need to be an existing Banque Raiffeisen account holder to use their services. Banque Raiffeisen 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, Banque Raiffeisen’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.
Banque Raiffeisen was created in 1926 and is one of the oldest banks in Luxembourg. Banque Raiffeisen has over 50 local banking branches and agencies which (from 13 different bank brands) trade under the Banque Raiffeisen group name.