advice on regular money transfers to the UK

#1 26 August 2011 15:33:04

ecm200
ecm200
Bergen

advice on regular money transfers to the UK

Hi,

I am moving to Bergen at the beginning of October to start a new job, but will still have financial commitments back in the UK and hence will require the need to transfer a set amount back to the UK.

I was wondering if people had any advice on the best way to do this? The funds will be around £1500 a month, and will have to be on a certain date, so I can't play the currency markets that much.

I have tried contacting some UK banks to see if they can help, but so far nothing has come forth.

Any advice would be most gratefully received.

Kind regards,

Ed

#2 26 August 2011 22:50:15

ZombieTron
ZombieTron
Bergen

Re: advice on regular money transfers to the UK

I would have thought you would need to contact your Norwegian bank. I have transferred funds once from the UK to Norway, I just did it through my UK bank, there was a small charge to pay.

I think you would either need to go through the bank that the funds are being taken from, or use a broker/transfer service like Western Union.

#3 20 September 2011 19:55:40

Yorkshireexpat
Yorkshireexpat
Notodden

Re: advice on regular money transfers to the UK

Hi,

You can do it through online banking with your Norwegian bank account when you get it - just make sure they set you up for online banking when you get your account. You need the IBAN number for your UK bank account to be able to transfer the funds. I guess you would be able to set it up as a regular payment, it normally takes between 3 and 4 days for the funds to get from Norway to the UK but they usually say it can take up to a week.
Charges wise it varies from bank to bank, may be worth talking to your Norwegian bank to see if they can give you a good deal since you are doing it so often. When I have done it I have usually paid about £15 in bank charges so not too bad when you are looking at large sums like you mentioned.

You can transfer up to £10k using online banking but over that you have to write to the bank to arrange the transfer.

Hope that helps, good luck with your move!

#4 23 September 2012 16:34:52

new_in_norway

Re: advice on regular money transfers to the UK

It is basically called " Remittance" and many Bangladeshis in the UK or Pakistanis in the United Arab Emirates send money back home.

I would suggest you get a Norwegian bank account, e.g with DnB Nor and consult them - it would be like a standing order, wouldnt it?

Alternatively, make a net bank transfer between your Norwegian and British bank accounts when you send money back home

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