Euro Transfer from UK Accounts to Finasta Bankas
Save cash and time when sending a UK bank account money transfer to euro at Lithuania’s Finasta, use a FX broker for a better currency exchange rate. The best alternatives for sending funds from the UK to a Finasta account in Lithuania, a currency broker will also save you time on the transaction.
About Finasta
Finasta Group is the largest private banking and wealth management group in the Baltic States and was established in 1994 in Lithuania. Finasta consistently seeks to become the best wealth management platform in Central and Eastern Europe and has it’s head office based in Vilnius, with a total amount of around 200 employees. In 2014, Invalda LT acquired a 78.28 percent stake of Finasta Bankas and will gain 100 percent of Finasta Asset Management in both Lithuania and Latvia.
Euro Transfer to/from Finasta Bank in Lithuania
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 |
|---|---|---|---|
| TorFX | *0.7% | €1.112 info | Enquire |
| Finasta | *2.5% | €1.092 info | Enquire |
| Typical Bank Rates | *1.9 to 6.2% | €1.05 to €1.098 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 Finasta 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 €5599.235 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 Finasta
To transfer funds abroad from your Finasta 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 Finasta branch.
