If you need to send money to Luxembourg or make regular money transfers to Luxembourg then there are several different options available to you.
Each of these have significantly different costs, not all of which are obvious upon first inspection.
High street banks are an obvious place to start when you first discover that you need to send money to Luxembourg.
These establishments are well-regulated and will help you to send money to Luxembourg with just one phone call or in-branch visit.
However, this is unlikely to be the cheapest way to send money to Luxembourg if you need to do so on a regular basis.
Banks tend to offer fairly poor euro exchange rates and you will also need to factor in the cost of per-transfer fees, which you can expect to pay when you move money this way.
Unfortunately, Money Sending bureaus, which are useful if you need to send money to somebody who is unable to access a bank account in Luxembourg, will also hit you with these fees.
They can be as high as ten or even 15 per cent so are certainly worth watching out for.
If you want to avoid these high fees, however, then a foreign exchange broker might be a better way to send money to Luxembourg.
RationalFX can help you transfer money to a bank account in Luxembourg, perhaps with the Advanzia Bank or the Banque de Luxembourg.
This can be done with low fees and you will also benefit from some very competitive currency exchange rates on the euro.
Why not open an online account with us for free today and start saving money! Gain access to our secure online payments system to make sending money to Luxembourg even more convenient!