What is the best way of sending money from the UK to Tenerife?

Fred Perry · 24th August 2007, 11:57

What´s the best way to sending money from the UK to Tenerife?

I have looked at "Re-embolso" on the Official Correo web site and don´t really undersatnd the system. How does that work?

emskie · 24th August 2007, 11:59

We did a bank transfer which my mum orgainised. There are different costs to it depending on how fast you want it done. It wasn't particuarly expensive though and we got a very good exchange rate.... better than most shops were offering

windym · 24th August 2007, 12:30

Fred,

bank transfer would be the best bet but it depends on how much you're talking about, you might want to look at these sites who may be able to help if its larger sums

https://www.currenciesdirect.com/

https://www.xe.com/fx/

http://www.crowncurrencyexchange.com/content/euros.asp

geetimuk · 24th August 2007, 12:53

Stuff it in your knickers and bring it with you. Its a bit uncomfortable and you walk funny but it worked for us

I think you can bring up to £7000 each on your person (not too sure on this).
I don't know what happens if you have more, fortunately no one checked in our pants!

Fred Perry · 24th August 2007, 12:57

No, I am only talkin about 50 e maximum at a time.

If people in the UK want to buy merchandise from me what is the best method? Re-embolso?

KirstyJay · 24th August 2007, 13:02

For small amount like that, Paypal. Bank transfers & Rembolso charge around 25 quid per transfer... so it's REALLY cheap if you're transferring lots, but DEAD EXPENSIVE for small amounts.

Muppet · 24th August 2007, 13:03

This is not a recommendation for the particular company since there are many similar ones to choose from, but I used Sterling Exchange.

Basically you give them Sterling in the UK and they credit you Euro's here.

The trick though is to negotiate the exchange rate - this entire game uses the "futures market" and if for example you know you will need a specific sum transferring here in say three months then you can often obtain beneficial exchange rates.

email or ring any of them and they will provide you with their exchange rates.

If I am correct, most Banks will only transfer around £5k at a time, and charge handsomely for "helping"!!!!

PS (edit) you posted while I was typing !! Small amounts are a very different story and perhaps PayPal is one answer - I'll get my coat and stop interfering !

windym · 24th August 2007, 13:05

Quote:

Originally Posted by Fred Perry

No, I am only talkin about 50 e maximum at a time.

If people in the UK want to buy merchandise from me what is the best method? Re-embolso?

depends on tha bank charges for small amounts if theres a minimum transaction fee it might not be worth it,
I'm no expert here but what about Paypal? it works on ebay to pay for stuff you buy from all over the world, I don't know what you have to do to get registered but maybe someone on the forum might have an idea?

boredinscotland · 24th August 2007, 15:02

Tell them to get on a plane with the dosh and have a day out at the football with you lot when they are there

chip · 24th August 2007, 15:19

Fred, I've been using PayPal for people to pay me. I have people buying off me all over the world.

If you're receiving money they charge you 20p + 3.25% I think! Which isn't too bad, UNTIL you start doing 100+ sales a month then it really adds up, but without it I'm screwed.

I added up what I paid PayPal last month and it cam to £75!!! But I made money....and without it I'm screwed! People trust paypal, and now they act a credit card agent, so you can advertise that you take credit cards, but its done through the PayPal merchant.