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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
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Experience:  English solicitor with over 12 years experience
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I transfered £50.000, to a bank in in France through Santander.I

Resolved Question:

I transfered £50.000, to a bank in in France through Santander.I was told at the bank it would only cost £25.00 to do so.My son received 61,242 euros This is considerably less in value which i believe amounts to £1 3218 ? Why is it such a large amount is taken.The french bank charged 21euros for the transfer and another 21euros for currency change
Submitted: 3 years ago.
Category: Law
Expert:  UKSolicitorJA replied 3 years ago.
Hello,
At today's exchange rates, £50000 is equivalent to Euros 62,500 approximately and there is normally a currency conversion charge which can be as high as 2.5% of the amount, so your transfer and exchange rate seems to be in order.
Unless you were sending the money to sterling pounds account with the French bank, the money would be automatically converted to Euros which is the official currency in France.
I do not see any grounds for complaint.
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