Beat your bank’s foreign exchange rates when making a currency transfer to or from Portugal & secure a faster completion time by using a specialist money transfer broker – recommendations below:
|BROKERS||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATE: GBP/EUR||MORE DETAILS|
|CURRENCIES DIRECT||£100||1 DAY||0.7 to 1.0%||€1.111 to €1.115||INFO|
|GLOBAL REACH||£3000||1 DAY||0.8%||€1.112||INFO|
|CURRENCY SOLUTIONS||£1000||1 DAY||1.0%||€1.111||INFO|
|BROKERS||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATE: EUR/GBP||MORE DETAILS|
|CURRENCIES DIRECT||€100||1 DAY||0.7 to 1.0%||£0.883 to £0.886||INFO|
|GLOBAL REACH||€3000||1 DAY||0.8%||£0.883||INFO|
|CURRENCY SOLUTIONS||€1000||1 DAY||1.0%||£0.883||INFO|
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
Are you looking to send money to Portugal? Beat bank exchange rates when making an overseas UK pound or euro money transfer to a Portuguese bank account. Specialist foreign exchange companies can save you time and money over a traditional bank transfer service.
Out of a population of 10 million people, there are currently over 900,000 expats living in Portugal, of which British numbers total approximately 15,000. Most British expats live in and around Lisbon and Porto or in the popular holiday destination of the Algarve and many will need to transfer money to or from Portugal at some point.
Transfer Supermarket recommended foreign exchange companies in the above tables are calculated on Portuguese office location coverage together with the lowest foreign exchange margin rates offered. Further details below:
Compare the latest UK pound (GBP) and euro (EUR) foreign exchange rates offered by major Portuguese high street banks. Skip to: Portugal Euro Bank Transfers
Pz360, St Mary’s Terrace, Penzance TR18 4DZ, United Kingdom
Sending money to or from Portugal? Find answers with Transfer Supermarket to frequently asked questions regarding international money transfers and related technical jargon.
An international currency transfer is typically a financial “bank account to bank account” transaction where funds are sent overseas, to another country, currency and bank account.
Interbank foreign exchange rates are wholesale rates that banks use, also known as live foreign exchange rates.
An FX margin rate is the amount the bank, broker or foreign exchange bureau adds onto the interbank foreign exchange rate when they quote the rate for a money transfer. The smaller the margin rate, the less it will cost you.
Typically, for private transactions, brokers offer the best exchange rates for overseas money transfers into other currencies. Brokers offer much lower margin rates than banks, meaning that you’ll receive a better overall deal.
Getting the best deal on your money transfer is as simple as finding out what your local bank will offer, and then comparing the deal to what you would receive by using a broker. Try and negotiate a fixed FX margin rate from the interbank rate with your broker, as generally, high street banks are unlikely to offer this type of agreement unless you are a corporate customer making regular money transfers abroad.
If you’ve had a quotation for a money transfer and now you’ve decided to make a trade, only to see that the deal no longer looks as good, it’s the fluctuation in the exchange rate that has made the difference.
Most brokers now offer instant bank to bank money transfers for clients who are trading in major currencies, otherwise the time scale is typically 1 to 3 days. Banks will normally complete money transfer transactions in around 5 to 7 working days.
Of course. All brokers that are listed on Transfer Supermarket are authorised by the UK FCA (Financial Conduct Authority), which means that your money is safe as all client funds are safeguarded and held in segregated accounts.