Do you want to find out how to make a bank transfer from pounds to euros without incurring any fees? If so, read on! This post will show you the best ways to avoid paying unnecessary transaction costs when transferring money from pounds to euros.
Sign up for a free TransferLab account
The first step you should take in order to get ready to send fee-free money transfers is to sign up for a free TransferLab account. Don't worry, the sign-up process is very quick and you could be ready to start sending money abroad in a matter of minutes. Simply hit the "Register" button on the TransferLab website and follow the on-screen instructions. That way, once you're ready to transfer pounds to euros, your account is opened and ready to transact and you'll have a number of zero-fee payment methods (such as manual bank transfer or open banking) at your fingertips.
Follow the steps on the TransferLab website to place a transfer order from pounds to euros
Once you're ready to make your money transfer order and exchange your pounds to euros, simply head to TransferLab's website and check out the current exchange rate they're offering.
You can also do a quick price comparison check on exchange rates, using their price comparison tool which compares TransferLab's price versus leading banks and remittance providers.
Once you're happy with the exchange rate, simply follow the instructions on their website to place your order. Don't forget to select their most popular fee-free payment method "bank transfer" (this is how you'll pay TransferLab) in order to keep your money transfer fees at zero!
Contact the sending and receiving bank to check if they charge any additional fees
Once you've placed your money transfer order with TransferLab, you'll need to get ready to send your funds by bank transfer to TransferLab. You can do this either using your online banking portal or app or at your local bank branch.
Before setting up your bank transfer, you should do one final check with both the sending bank and receiving bank to see if they charge any additional fees that you’re not aware of for sending or receiving a bank transfer. Keep in mind that any transaction fees charged by your bank in this respect should be very low, but it's often best to check with them first!
Pay TransferLab by bank transfer, as there are zero fees on this payment method
Once you've completed these steps you're ready to send your funds off to TransferLab!
To do this you'll need to have TransferLab's payment instructions to hand - these are the bank account details they provided you with at the time of your online order.
Don’t worry if you can't locate TransferLab's bank account details, or if you'd like to verify the bank account information over the phone, you can always contact the TransferLab team for further information and help.
Once you have TransferLab bank account details to hand, simply log-in to your online banking or app and send the money to TransferLab as you would normally do. If you don't have access to online banking, simply print off the payment instruction PDF file located in your TransferLab account area and bring this document with you to your bank branch (it contains all of TransferLab’s bank account information) and ask your bank to make the transfer for you.
Tip! - don’t forget to reference your unique order number on your payment, as failing to do so could delay your money transfer order.
Once you've sent your money to TransferLab that's it! Simply sit back and let TransferLab do the rest. They'll keep you updated by email on the progress of your money transfer order.
That’s it! You have successfully eliminated fees on your pounds to euros bank transfer
Congratulations! You have sent money the smart way and successfully avoided any unnecessary fees on your international money transfer.
Create a free TransferLab account and get a £10 discount on your next money transfer of £1,000 or more (or the equivalent in another currency). Learn more about our offer below.
