Best option for moving money from the UK to Austria

We are wanting to move some money over here from the UK to pay for a family party and put down a deposit for buying a place.

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chasmyth England
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Best option for moving money from the UK to Austria

Post by chasmyth » Thu Feb 07, 2019 6:50 am

We are wanting to move a bit of money from the UK to Austria to pay for a party and put down a deposit on a place here. It is a 5 figure amount.

What services have you used, and do we have to do any special reporting about where the money is from as it is over 10,000 Euro? At the airport there are always posters about needing to declare these kind of amounts.



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Re: Best option for moving money from the UK to Austria

Post by Deleted User 15392 » Thu Feb 07, 2019 8:01 am

I use a website called www.transferwise.com. They have a borderless account, which you can add different currencies to, and transfer between them. You also get a debit card with it so you can use it all over the world. If the money is in the account, you don't need to declare it when you enter the country. I think their rates are okay :)
I used to work for Tesco Bank Travel Money, and they sometimes have offers on, plus they do a price match for other local bureaux de change. I don't know if they still do it, but they used to have prepaid cards too.

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morgenhund European Union
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Re: Best option for moving money from the UK to Austria

Post by morgenhund » Thu Feb 07, 2019 9:13 pm

chasmyth wrote:
Thu Feb 07, 2019 6:50 am
do we have to do any special reporting about where the money is from as it is over 10,000 Euro? At the airport there are always posters about needing to declare these kind of amounts.
The posters at the airport are usually for funds brought in in cash, where you have to fill out forms and possibly prove the provenance of the money. When I moved money here to buy a flat, I nominally had to show the will and correspondence explaining its provenance to the bank but that was it.
Vienna is like an Ikea sofa - you know you should upgrade, but why bother when it is this comfortable.

chasmyth England
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Re: Best option for moving money from the UK to Austria

Post by chasmyth » Fri Feb 08, 2019 6:42 am

Thanks sarahstanden and morgenhund. Seems like it is the way to go with transferwise. I was a bit worried that you need a bank account with them where you have to leave the money in it for a while, but that doesn't appear to be the case.

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Re: Best option for moving money from the UK to Austria

Post by outta_busan » Fri Feb 15, 2019 6:41 am

Would agree with transferwise. Also has anyone used revolut? Am looking at it.

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