|ING BANK||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to EUR||NO MINIMUM||5/7 DAYS||5.0%||€1.103|
|EUR € - to GBP||NO MINIMUM||5/7 DAYS||5.0%||£0.818|
|BROKER RATES||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to EUR||From £100||From 1 DAY||From 0.7%||€1.153|
|EUR € - to GBP||From £100||From 1 DAY||From 0.7%||£0.855|
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
Answer: Using ING 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:
|CURRENCIES DIRECT||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to EUR||£100||1 DAY||0.7 to 1.0%||€1.15 to €1.153|
|EUR € - to GBP||€100||1 DAY||0.7 to 1.0%||£0.852 to £0.855|
Save on exchange rate conversions when transferring money overseas from your ING Bank account in euros, UK pounds & other currencies. ING Bank international money transfers to or from the Netherlands have higher transaction charges, due to a less competitive exchange rate offered by ING Bank. Skip to: Netherlands Money Transfer Specialists
Typically, sending funds to or from your ING Bank account in euro, UK pounds or US dollar overseas bank account will involve a margin rate of 5.0% – much higher than most currency broker rates (typically 0.7 to 1.0%).
Sending foreign currency to or from your ING Bank account in the Netherlands 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 ING Bank services would have a transaction exchange rate margin of around 5.0% – or 5,000 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 ING Bank could take longer to arrive than using a private currency exchange provider and you will also need to be an existing ING Bank account holder to use their services. ING 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, ING 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.
ING Bank is a large financial services and banking group based in the Netherlands. It was established in 1989 following a merger of the ING Bank and the Postbank although its history dates back to 1881. Today ING Bank operates in over 50 countries and in the Netherlands it has 285 local banking branches. ING is today one of the world’s largest banking groups, serving over 48 million individual and business clients in more than 40 countries worldwide.