Transfer money from France to UK

EUR €184.64 Avg. Saving vs. Banks ?
 

Here are the latest prices for transferring money from France to UK
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Top 9 Money Transfer Providers

Exchange Rates as of 2018-08-17T20:59:59+00:00

OFX (prev. UKForex)

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Amount Received
GBP £8,880.90
EUR €178.36
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Bank Beating Rates

TorFX

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Est. 2004
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Amount Received
GBP £8,898.84
EUR €198.36
saved vs. banks

moneycorp

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Est. 1979
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Amount Received
GBP £8,880.90
EUR €178.36
saved vs. banks

FC Exchange

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Est. 2005
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Amount Received
GBP £8,889.87
EUR €188.36
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Currency Solutions

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Amount Received
GBP £8,888.97
EUR €187.36
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WorldFirst

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Est. 2004
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Amount Received
GBP £8,896.60
EUR €195.86
saved vs. banks
Bank Beating Rates

Currencies Direct

 

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Amount Received
GBP £8,871.93
EUR €168.36
saved vs. banks

Smart Currency Exchange

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Amount Received
GBP £8,880.90
EUR €178.36
saved vs. banks

RationalFX

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Est. 2005
More Info Less Info
Amount Received
GBP £8,889.87
EUR €188.36
saved vs. banks

How to Transfer Money from France to UK

Summary

France and the United Kingdom have strong economic, political and social ties. Increasing economic integration within the European Union (EU) has brought the two countries closer together, evidenced by solid trade and investment flows, partnerships on research and education, and bilateral migration. An estimated 17m British nationals visit France each year, according to statistics from the UK government, and approximately 400,000 British nationals currently live and work in France. Although the UK maintains the pound sterling (GBP) as its currency, there are no restrictions to transfer money from France to the UK.

Studying in the UK

The UK encourages students from France to study in its colleges and universities. This has been especially facilitated by the creation of the Entente Cordiale Scholarship in October 1995. Under this scheme, British and French students are eligible to receive funding to study in either of the two countries for a year. If you are a French national or citizen or permanent resident of one of the 28 member countries in the EU, you will not require a visa to study in the UK.

Nevertheless, it is important to note that the cost of living in the UK is relatively high, even after factoring in domestic tuition. Undergraduate fees are an average of 9,000 per year, while post graduate fees will vary depending on the university and the subject of the degree. Cost of living for each year of study can amount to as much as 6,825.

Visas and Travel

French nationals and those from member countries of the EU, including Switzerland, do not need to have a visa in order to visit, stay or work in the UK. The relatively close proximity of France to the UK means that there are various options of travel between both countries. The English Channel, which is also the busiest sea passage in the world, connects several ports in Britain to others in France. These ports include Newhaven, Dover, Portsmouth in Britain, and Calais, Dunkerque and Caen in France.

Taxation

The UK and France signed a double taxation agreement in 2008, which means that expats from France do not have to pay taxes on the same income in both countries. If you plan to move to the UK to spend a significant period of the year there, it is recommended to consult with tax professionals to ensure that all local tax requirements and deadlines are respected. The income tax rate you would face depends on income you receive over the threshold of your Personal Allowance for the year. The UK tax year runs from April 6th to April 5th of the following year. The Personal Allowance for most people is 10,000. However, there is an exception if you were born prior to April 6, 1948 or you earn an income that is more than 100,000. There are three rates, the basic rate which is 20%, the higher rate which is 40% and the additional rate of 45%. You will also be taxed at 20% on the interests earned on savings.

Banking and Money

Opening a bank account in the UK is often the most cost-efficient way to access your funds if you plan to move to the UK for an extended period of time. Both countries have well-developed financial sectors with a large number of financial institutions and money transfer specialists. Thanks to their physical proximity and EU policies that facilitate cross-border investment, a number of banks operate branches in both countries. In order to open an account in the UK, French natives will need to present proof of employment or income, address and a passport. There are many different financial institutions to choose from, including major groups such as Barclays, Royal Bank of Scotland, HSBC and NatWest. Having a bank account will make it easier to transfer money from France to UK, regardless of whether you choose to wire funds through your bank or through specialised forex broker.

Traveling with your Pet

If you are bringing a dog, cat or other small animal with you from France to the UK, it must meet particular requirements. It should have a microchip, a pet passport, a rabies vaccination, and you must be able to certify that your dog has had a tapeworm treatment.

Trade and Investment

France is the third-largest market for British exports in the world after the US and Germany, which drives a large amount of overall money transfers from France to the UK. Exports from the UK to France rose from 16.5bn in 2011 to 18.9bn in 2011. On the other hand, exports from France rose from 18bn to 19bn over the same period. In 2012, the UK received more visitors from France than from any other country, totaling over 3.7m arrivals. French tourists also spent the second-largest amount in the UK than any other tourist group. Trade among EU countries is encouraged by regional free-trade agreements and free circulation policies, and there are a host of different agencies providing money transfers to the UK.

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FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.