Getting the Best Exchange Rates

Where to Get the Best Sterling to Euro Exchange Rate

Do you need to transfer large amounts of money from one currency to another?
Maybe you are buying a property in Ireland?  Or you might be in Ireland and planning on buying a property overseas.?
Perhaps you are importing a car, transferring a pension lump sum or moving savings into another currency?
Maybe you run a business that deals with customers and suppliers using diffferent currencies?
Whatever your reason, when carrying out international transfers of large amounts of money you should first check the savings you can make by using a currency exchange specialist instead of just asking your bank to take care of it.

With most of the currency specialists listed below  – you are able to lock in an exchange rate for up to 12 months in advance. This allows you to take advantage of a fall in the value of a currency and place a future order at today’s rates.
By locking in a rate you remove the worry of any future negative currency fluctuations. This could prove very useful with the ongoing uncertainties caused by the Covid crisis and Brexit talks.

Banks usually have the worst exchange rates.

On paper, the actual exchange rate differences may look tiny  – just fractions of a cent. But a difference of just 0.4% in the Euro to Sterling exchange rate will cost you €800 on a €200,000 exchange!
Why let the banks have it? Always check below for the Best Sterling to Euro Exchange Rates.

Recommended Currency Transfer Companies.

Garton Global Payments is based in London and is run by Irish native Niall Walsh who has plenty of experience in dealing with large money transfers between Ireland and the UK. Garton can send all major currencies anywhere in the world where the beneficiary has a receiving account in that currency. If you need to receive international payments – they can also help you do that.

Garton Global

Garton Global Payments get exchange rates directly from the interbank market, but having a much lower cost base than the banks means they can offer better rates for you.
All payments and transfers are carried out on the CurrencyCloud platform which is fully authorized and regulated in the UK, EU, US, and Canada .
You can request a quote online or call the Garton team direct on (UK) +44 20 8004 5841.

Fexco is based in Ireland,with operations in 29 countries and employing over 2,500 people. In Ireland, Fexco is authorised as a payment services provider by the Central Bank of Ireland. In the UK, Fexco is regulated by the Financial Conduct Authority for the conduct of payment business.


Fexco normally deals in amounts larger than €5000 and you can get a quick online quote at the Fexco Website . You can request a quote here. Setting up an account costs nothing and once you are registered you can transfer money over the phone or online at a time that suits you.

Currency Solutions is headquartered in London with offices in four countries. They have over 135,000 registered clients and have transferred ove £6Bn around the world since 2003 . Currency Solutions is authorised by the UK Financial Conduct Authority for the provision of payment services.
There is no upper limit for phone transfers. Online transfers are also possible but are capped at £20,000 for private clients and £50,000 for business clients.

Customers can arrange transfers over the phone on their  Irish number 01 431 1344 or on their UK number 0044 (0)20 7740 0000. 
Ask for the Money Guide Ireland contact – Ernie Enver.
Ernie, or his team of dealers, will give you a quick response to any queries. We have had personal experience of their excellent service.
Alternatively, you can visit the Currency Solutions website for a free no-obligation quote and they will call you back.

Currencies Direct Currencies Direct have a London HQ and have been operating since 1996. They have over 500 employees and transfer more than £7.5 billion annually. Currencies Direct Ltd is authorised by the UK Financial Conduct Authority . In Europe, they are also authorised by the Bank of Spain to operate as an Electronic Money Institution.

Currencies Direct USA Ireland

Once you have registered with Currencies Direct you can arrange transfers over the phone with a broker, online or through its app. Advice and help are always available. You can get a quick quote for currency exchange on their website.

Currency Fair :    are based in Dublin and regulated by the Central Bank of Ireland.  Everything is carried out online with Currency Fair. If you want the personal touch or some guidance – these may not be for you. You won’t be able to arrange transfers in the future – but if you want to exchange a lump sum straight away then this is a good option.

currency fair

Once you have deposited money with CurrencyFair you can convert it online and transfer money to banks in any one of 20 different currencies.
Exchange rates at Currency Fair are typically about 0.4% above the interbank rate. Their transfer fees are set at low fixed rates for each currency. For example €3 for sending Euros and £2.50 for sending GBP.  There is no minimum transfer amount with Currency Fair.
They are currently offering the first Ten Transfers for Free 

FairFx is a London based foreign exchange specialist company. They have been operating since 2007 and are regulated by the UK Financial Conduct Authority for the provision of payment services. You can arrange one-off international money transfers over £5000 with FairFx online or over the telephone.

fairfx currency

FairFx will also enable you to set up regular transfers such as salary, pension or rental payments. To get more information you can call FairFx on their Irish number (01  5665546 ) or on their UK number (0044) 207 858 2001.

Transfermate is a Dublin based foreign exchange company that helps businesses and individuals send and receive international payments.  In Ireland, Transfermate is regulated by the Central Bank of Ireland.

Transfermate is also regulated across the USA, Canada, Europe and Australasia.  If you are resident of the USA, Australia or Canada and you want to send money to Ireland – then Transfermate is authorised to do it.
Customers can set up an online account and then arrange currency transfers via the Transfermate website or over the phone on Dublin  01 6353776.

Read our  article about transferring money between Ireland and the USA

Hedging Your Bets

With most of the currency specialists listed above – (but not Currency Fair)   you can take advantage of various “hedging tools” . These tools can protect you against unfavourable rate changes if you are planning a large transfer in the future. (For example on a property purchase or sale)  This could be very useful with the ongoing  GBP/EUR fluctuations caused by Brexit uncertainty.

For example – you might be selling up in Ireland and buying a property abroad. If the Euro was to suddenly weaken –  then the proceeds from your house sale could be worth thousands less in Pounds or USD or Australian Dollars etc.
By reserving a guaranteed exchange rate, up to 12 months ahead, you can prevent exchange rate fluctuations from wrecking your plans. You will usually need to pay a deposit of around 10% to do this.

Currency Exchange for Business

If you run a business in Ireland or the UK with regular large payments or invoices in different currencies  – then a currency exchange firm can save your business money on exchange rates and charges. You are probably already aware that your profit margins can be severely cut by exchange rate fluctuations. However – by fixing your exchange rates in advance you can get some certainty. (It’s called Hedging – the big companies do it all the time). More here about Currency Exchange for Business

euro to sterling exchange rate

Holiday Money (Cash)

If you are just going on holiday and want to get some foreign currency in cash before you travel   – you should read our article on Travel Money .

We found in several surveys that No1 Currency gave the best deal on buying Sterling in Ireland. (They also deliver it to your home for free on orders over €750)

If you use your Irish debit or credit card whilst abroad for day to day spending there will usually be additional fees and charges when you spend outside the Eurozone. Find out more in our article on  Card Charges outside the Eurozone

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