| Provider | Amount Received | Fee | Exchange Rate | Speed | ||
|---|---|---|---|---|---|---|
 |
TorFX | EUR €11,181.76 | No Fee | 1.1182 | 1-3 days | more... |
 |
OFX (UK) | EUR €11,136.81 | No Fee | 1.1137 | 1-3 days | more... |
 |
Currencies Direct | EUR €11,181.76 | No Fee | 1.1182 | 1-3 days | more... |
There are no restrictions on sending money to France from the UK. With an estimated 300,000 French passport holders in the country, the UK is a popular destination for French expats who might wish to repatriate part of their salary if their stay is not intended to be permanent. Meanwhile, France is a popular retirement destination for many Britons who may need to transfer their UK pension. France is also one of the UK’s major trade partners, with the UK importing some £23bn (€30bn) of goods from across the Channel in 2013. As such, there are many reasons to send money from the UK to France. However, the uncertainty of Brexit means that this may change over the next few years, though the extension of Article 50 has given a slightly longer grace period.
The buying and selling of property in France takes a long time. Purchase of a property is controlled by a notaire, who is responsible for examining the agreement to purchase property, which you will sign. The notaire is also responsible for ensuring that you understand what you are signing. It is advised that you speak to other expats who have bought property in the area of your choice or a local estate agent, who can recommend a local notaire.
British expats should understand that in France, inheritance laws are clear, and all property will be divided among surviving children. This is very important for married couples where one or both of them have children from previous relationships. Therefore, if you are buying a property in France, it is advisable to make a will in France at the same time, which can override this automatic split between surviving children.
There are some key differences in UK and French capital gains tax laws, so you should seek advice on this area before buying (or selling) a property in France and before you send money to France from the UK to purchase the property.
French and British citizens wishing to relocate to the other country, whether for work or retirement, are free to do so and do not need a resident or a work permit. However, they must have a valid passport. After six months, a residence permit is required. The potential removal of freedom of movement means that the way that visas are handled in the future could change in a drastic manner.
Over the years, France has become one of the most popular retirement destinations for expats from the UK, with some 57,000 retirees settling there as of 2012, according to the UK’s Department of Work and Pensions and the Institute of Public Policy Research. The UK state pension can be paid to expats in France, but the EU has ruled that the UK is not obliged to make increases to pensions. You can then make frequent overseas transfers from your UK account into a French bank account to support your retirement. This may change in the coming years as the EU laws will not be in place in regard to UK retirees, though it is doubtful that the UK government will sanction an increase in pension payments with the current pension deficit.
The UK government’s rules and regulations govern the way that the taxman and social services consider and treat UK expatriates in France. They become more complex once they are combined with the rules of France. You are recommended to seek specialist tax and financial planning advice. In particular, make sure that you know the following:
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OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates
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The buying and selling of property in France takes a long time. Purchase of a property is controlled by a notaire, who is responsible for examining the agreement to purchase property, which you will sign. The notaire is also responsible for ensuring that you understand what you are signing. It is advised that you speak to other expats who have bought property in the area of your choice or a local estate agent, who can recommend a local notaire.
British expats should understand that in France, inheritance laws are clear, and all property will be divided among surviving children. This is very important for married couples where one or both of them have children from previous relationships. Therefore, if you are buying a property in France, it is advisable to make a will in France at the same time, which can override this automatic split between surviving children.
There are some key differences in UK and French capital gains tax laws, so you should seek advice on this area before buying (or selling) a property in France and before you send money to France from the UK to purchase the property.
French and British citizens wishing to relocate to the other country, whether for work or retirement, are free to do so and do not need a resident or a work permit. However, they must have a valid passport. After six months, a residence permit is required. The potential removal of freedom of movement means that the way that visas are handled in the future could change in a drastic manner.
The Personal Payments team at Western Union Business Solutions look after the overseas currency requirements for private individuals.
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Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.
We check all rates regularly and this quote is an actual quote of the average from UK banks for this month. It includes all major and small banks. Lloyds, Barclays, HSBC, Santander, NatWest, RBS, Coutts, Handelsbanken, Metro bank and more - tracked every month. We obtain our rates via our IMTI platform.
Over the years, France has become one of the most popular retirement destinations for expats from the UK, with some 57,000 retirees settling there as of 2012, according to the UK’s Department of Work and Pensions and the Institute of Public Policy Research. The UK state pension can be paid to expats in France, but the EU has ruled that the UK is not obliged to make increases to pensions. You can then make frequent overseas transfers from your UK account into a French bank account to support your retirement. This may change in the coming years as the EU laws will not be in place in regard to UK retirees, though it is doubtful that the UK government will sanction an increase in pension payments with the current pension deficit.
The UK government’s rules and regulations govern the way that the taxman and social services consider and treat UK expatriates in France. They become more complex once they are combined with the rules of France. You are recommended to seek specialist tax and financial planning advice. In particular, make sure that you know the following:
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All the providers listed are regulated by the relevant authority (e.g. the FCA in the UK, FinCEN in the US, ASIC in Australia) and have been vetted by FXcompared.
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.
