I have just asked Norwich and Peterborough BS how much they would charge to transfer £50,000 to Phil. £40. Nationwide charge £25
I pressed Nor Pete what exchange rate they would apply, 63.5 to the £ .
HIFX show 68.25P to the £. So with Nationwide it would probably be 68.05.
That means if I used Nor Pete I would loose 230,000 P or about £3,500,. That is equivalent to about a 7% charge.
As I keep saying watch the exchange rate, its that which can screw you.
