Are you a Brit living in Hungary, with a need to transfer money from Hungary to the UK?
This could be because you're selling your property in Budapest or Debrecen, and you intend to repatriate the funds to your UK bank account. Also, this might be because you run a company in Hungary, and you plan to make international payments to the UK, to import British products.
Alternatively, are you a Hungarian citizen, intent on exchanging forint to pound (HUF to GBP)?
Whatever the reason you need to transfer money from Hungary to the UK, there are lots of things to bear in mind. These include:
Let's look at these factors for your money transfer from Hungary to the UK. This will help you to receive money in your UK bank account swiftly, and at a highly competitive exchange rate.
1. How to Get A Highly Competitive Forint to Pound Exchange Rate.
The way to get a highly competitive exchange rate for forint to pound is to use foreign exchange specialist Pure FX. We can offer you a highly competitive exchange rate, because we're a wholesale currency broker, so we buy huge volumes of currency each year on behalf of our clients.
This way, we access better exchange rates compared to if you exchange forint to pound for yourself. We then pass on these highly competitive exchange rates onto you, for when you transfer money to Hungary.
It's worth bearing in mind that, when you transfer money from Hungary to the UK with Pure FX, you'll often get better exchange rates, the more you transfer.
So if you intend to transfer a large sum to the UK, and you're not sure whether to send it all at once or in parts, you might get a higher pound total, if you send the total amount in one go.
2. What Fees You'll Pay to Transfer Money from Hungary to The UK.
With Pure FX, we charge £15 for an international priority transfer below £50,000 (or forint equivalent.) You might like to buy this, if you need to transfer money from Hungary to the UK quickly.
This is is because you'll receive your money in your UK bank account the next day. This might be useful, if you have friends or family in the UK who need money fast, or to immediately make a payment on your UK property.
However, if you intend to transfer above £50,000 (or forint equivalent), we give one free transfer per transaction. Aside from this, Pure FX charges no hidden fees.
This way, you can feel confident that you'll receive a higher pound total in your UK bank account, compared to if you'd used an alternative service that charges higher or hidden fees.
3. What's Your Timescale to Send Money to The UK from Hungary.
As I mention above, if you need to exchange forint to pound quickly, you can pay £15 for an international priority transfer. This will give you peace of mind that your money will arrive in your UK bank account as fast as possible.
Alternatively, you might like today's forint to pound exchange rate, yet not yet need to transfer your money from Hungary to the UK. If this is the case, you can lock in your exchange rate in advance, with a forward contract.
This fixes your exchange rate, and you can then transfer your money at any time you like, up to one year in the future.
With a forward contract, you pay down an initial 10% of the total amount, and there's no extra fee. This gives you security that you've secured the exchange rate you like, so you know the pound total you'll receive in advance.
4. What's The Process to Transfer Money from Hungary to The UK.
To transfer money from Hungary to the UK with Pure FX, just follow these simple steps:
A. Register An Account.
Go to https://www.purefx.co.uk/register to register. This takes just two minutes, is free, and you come under no obligation to trade with Pure FX.
Once you've registered, a Pure FX currency dealer will contact you, to find out how best we can help you transfer money to the UK from Hungary. You'll need to provide the following:
B. Request A Quote.
Once you've registered with Pure FX, you'll need to request an exchange rate quote. To do this, scroll up to the 'Get A Free Quote' box on the top-right of this page, and enter your details.
Then, click the 'Get A Free Quote' button, and one of Pure FX's friendly, professional currency dealers will quickly contact you. They'll offer you a highly competitive exchange rate.
C. Transfer Your Money.
Once you confirm that you're happy with the exchange rate you've been offered, you transfer your money. Your funds will arrive from Hungary to your UK bank account in a few working days, or faster, if you've chosen to make an international priority transfer.
I hope you find this article useful. If you have any questions about how to transfer money from Hungary to the UK, we’d be delighted to help. Just visit Pure FX’s Contact Us page, and fill in the form. We’ll get back to you as soon as possible.