Changing Euro to GBP

Strontium · 2025-07-19T16:26:40+02:00

Explore options for converting Euros to GBP in Portugal. Share experiences with banks, exchange rates, and methods used for best value.

Strontium Serial expat

Member since 27 April 2019

StrontiumSerial expat19 July 2025 14:26:40

389

After a sale as I need the money I have a load of Euros in a PT bank account BUT will have a couple of large bills to pay in UK.聽 I've also got UK euro account, UK GBP account and previously used an FX account when first buying in PT.聽 Obviously I've looking for the best exchange rates including any fees etc. but there's so many possibilities and rates.聽聽Has anyone done similar and what聽 method / company was used ?

TGCampo Serial expat

Member since 30 August 2023

TGCampoSerial expat21 July 2025 06:56:02

268

Many Brits I know use Wise. I sometimes use it at well.

JohnnyPT Portugal Expert

Member since 23 May 2020

JohnnyPTPortugal Expert21 July 2025 07:00:56

4914

Competitive rates and transparent fees:

Wise (formerly TransferWise)
Revolut
Remitly
TransferGo

For very large sums (e.g., property sales), a dedicated FX broker can be a good option. They offer a more personalized service and can often secure slightly better rates for large transfers.

Examples: TorFX, Currencies Direct, Key Currency, Regency FX, Spartan FX, OFX.

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Jen-TheBuyersAgentAlgarve.com New member

Member since Yesterday 13:43:13

Jen-TheBuyersAgentAlgarve.comNew memberYesterday 14:21:26

We have had clients use Send Money Overseas which is a dedicated broker who you can meet in-person in聽 the Algarve, if you are still here. You can contact them on info@sendmoney-overseas.com.

As Johnny says above, the DIY-services like Wise & Revolut are better placed for smaller transfer amounts. For large transfer like yours, you will need to produce paperwork to adhere to the Anti-Money Laundering Regulations (as all financial institutions require) - however the App-only type services are not quite setup for this and a quick Google search will show results of unhappy customers due to this, with funds being held up etc.

Having a dedicated brokers is definitely recommended, as they can give handheld service and tell you what paperwork is require before a trade is booked - giving a smooth straight-through service.

Our clients reported that when compared to Wise, Send Money Overseas was still beat them on price. So worth speaking to.

Also you mention that you have a UK-based EUR account but this will only assist you in having your proceeds of sale transferred to the UK. You will still need to exchange this to GBP (if that's your intention), and the bank's exchange rate will be the least cost-effective route so please avoid this.

If you do not need to exchange the EURs (i.e. do not require the liquid cash / access to the funds immediately, you can have your euros transferred to your UK EUR Account and liaise with an IFA as to investment options in EUR. Make sure that they are cross-border tax experts however to avoid Brexit-pitfalls.

I hope this has been helpful for you!