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How do we avoid bank charges when transfering money?

We have overseas offices and whenever we need to make bank transfers e.g. to make payments in one of the overseas offices the bank charges us about £15 quid.

We are losing a few hundred pounds each month doing this – how can we get around such charges?

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6 Responses to “How do we avoid bank charges when transfering money?”

  1. Imaka said :

    Talk to your bank about different options that may be available. Often when you talk to them about such a problem, they are able to make suggestions that will help. You may need to choose a different sort of account that will allow you to make such transfers without additional charges if you pay a monthly service charge for the account.

  2. gingdotflickr said :

    you might find that withdrawing cash and mailing it is cheaper, but risky.

    you could keep a tally over the month of money going in both directions and then only shift the difference.

  3. albert p said :

    you do the transfering in your own bank for payment not in other bank otherwise you’ll be charge for it

  4. gorclark said :


    It is normal and £15 is not bad most banks charge more.

    Have you thought of opening accounts in the same place as the offices then, cut down the amount of transfers.

    Alliance and Leicester have a less expensive system for transfers. It depends on the country your sending to.

  5. beardouk said :

    I really doubt that you can – that is just part of the cost.

    You can reduce the cost by making larger transfer less often.

  6. Find an IFA said :

    There are a few providers who might be able to help especially if you are needing to convert into a different currency. You might want to try Hifx, Smart Currency and Travelex – in most cases there is no commission but you usually need to keep one month’s worth of currency that you need to convert in an account with them. The rates you get will probably be keener than the banks too.

    The answers above are for guidance only and should not be acted upon without you receiving independent financial advice relevant to your circumstances. To find and IFA please go to


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