International Money Tranfers

[declanja]

We have a property in France that we let, generally to Irish and UK visitors. We have being using IBAN for payment and return of security deposits to and from our French bank account. Is there an easier way to do this as it can be costly especially with currency changeover costs

 

[Bronte]

Could you build in the exchange rate costs into your rental rate. I'm assuming you need the rent in Euro's to pay for the investment mortgage in France. To not lose out on deposits, open a UK account or a sterling account, the rentor pays it there and you return it from there. No exchange needed.

 

[declanja]

Thank you for that Bronte. Seems IBAN from sterling to euro can be expensive.