Euro Transfer from UK Accounts to UBI Banca
Save cash and time when sending a money transfer to euro at Italy’s UBI Banca, use a currency broker instead for a better currency exchange rate. The best alternatives for sending funds from the UK to a UBI Banca account in Italy, a currency broker will also save you time on the transaction.
About UBI Banca
UBI Banca is one of the largest domestic banking groups in Italy, created from the merger between Italy’s Banche Popolari Unite and Banca Lombarda e Piemontese. UBI Banca has more than 1700 Italian branches including 806 in Lombardy and Piedmont, Italy. The UBI group contains several different banks, including eight network banks: Banca Popolare di Bergamo, Banca di Brescia, Banca Popolare Commercio e Industria, Banca Regionalte Europea, Banca di Valle Camonica, Banca Popolare di Ancona, Banca Carime and UBI Banca Private Investment.
Euro Transfer to/from UBI Banca in Italy
Making a transfer to or from the euro using a bank service could potentially lose you thousands of pounds due to the poor FX margin rate offered. Private currency brokers offer a much more competitive rate of exchange. Example: Currency broker TorFX are one of the UK’s leading and largest foreign currency exchange specialists assisting private individuals and businesses with their foreign currency transfers to and from most countries worldwide. TorFX v traditional bank exchange rates:
|Company Name||FX Rate||GBP to EUR||FREE Quote|
|UBI Banca||*4.0%||€1.076 info||Enquire|
|Typical Bank Rates||*1.9 to 6.2%||€1.051 to €1.1 info||Enquire|
UK pound sterling (GBP) to euro (EUR) currency rates are updated daily at 09:00 GMT. Data source – ECB
*Note: A lower FX Rate will give a better exchange rate when transferring money to/from euro. Specialist foreign exchange companies including the ones listed below can save you money and time on the transaction.
UK bank to UBI Banca account v Currency Brokers
1: Bank money transfer information: General Guidelines – High street banks also charge a commission fee when sending money abroad into another currency – Private brokers offer commission free currency transfers typically over a value of £5000 or €5606.046 euro. Bank transfer commission fees range from £15 to £30 depending on the bank.
2: Unless you pay a premium, high street banks will take from 3 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction between 1 to 3 days.
Sending Money Abroad with UBI Banca
To transfer funds abroad from your UBI Banca account, you have to give the beneficiary’s IBAN and BIC to the bank. There are two types of transfers:
1: Euro Transfers: transfers exclusively in euros for amounts less than or equal to EUR 50,000 within the European Union, including the precise bank details of the beneficiaries (i.e. BIC and IBAN).
2: International Transfers: any transfers within or to countries outside the European Union (other currencies, no IBAN, etc.)
International transfer requests may be submitted by fax as long as you have signed a request at your local UBI Banca branch.