Cheap way to transfer money from UK to Malta?

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Cheap way to transfer money from UK to Malta?

Postby tharsos » Thu 22 Mar 2007 10:43

Hello,
I am currently using my debit card to withdraw money in Malta and am paying 4.25% for this service (1.5 % of the amount + conversion fee of 2.75%).
I have been reading some posts about opening a bank account in Malta.
Do you know how much does it cost to tranfer money from a UK bank account to a Maltese one? Are you aware of any other cheaper alternatives?
Thanks for help
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Postby gozomark » Thu 22 Mar 2007 11:01

there are some other threads on this, but one of the best ways is Nationwide debit card - you still pay 1.5% on withdrawing cash at ATM, but there is no conversion fee - if you buy things rather than withdraw cash, there is no fee at all - ie its like using it in the UK

transfering money to Malta - UK banks charge £20-30, plus some Maltese banks charge about the same again

http://www.britishexpat.com/expatforum/ ... hp?t=20007
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Transferring money to Malta

Postby Moodyblue » Fri 13 Apr 2007 10:06

We are moving to Malta later this year and we are opening an account with APS bank as they do not charge for receiving money to an account in Malta (unlike HSBC for example!). Also, they do not charge a penalty for paying off a mortgage early! We intend to use one of the UK commercial transfer companies like Axia Fx or HiFX as they use the commercial rate (always better than the tourist rate) and they do not charge for the transfer (unlike all the UK banks). Hope this helps. :D
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