Barclay's bank are prominent on the UK high street and will carry out money transfer transactions for existing account holders
Barclay's main features include:
Money Transfer services are only available to current account holders.
International payments can be made over the telephone with a currency dealer if you are registered for Barclay’s telephone banking and want to send money overseas to an account in your name.
Alternatively if your situation is slightly different from the example above then you will need to visit your local Barclays branch.
Barclays offer a standard and priority international payment service. The number of working days you need to allow before your funds are available will depend on where you are sending your money and which level of service you choose. Priority: 1-3 days Europe and North America, Rest of the world up to 7 days. Standard: 4-5 days Europe and North America, Rest of the world up to 8 days. Sending your funds via Barclays priority service is expensive at £40 plus overseas delivery charges.
You can potentially save hundreds if not thousands of pounds by using a foreign exchange broker instead of the bank. Brokers offer better rates and free transactions. Their experienced staff are on hand to monitor the markets on your behalf in order to help you find the best time to trade. They can explain what buying and selling tools are available to help you minimise your currency risk and maximise your currency conversion.
Do you think the bank would offer this same level of service?
Many firms now offer online trading platforms so that you can process your transactions when you need to.
Compare the features of Barclays exchange rates against other UK leading money transfer firms in our easy-to-use comparison table here.