Bank money transfer / question

I will need to transfer us dollars from overseas and have the money converted into euros.
If I do it bank to bank and let a receiving bank do the conversion, how good the rate would be? Withing 1% over current market, worse? Advice.

I was checking transfer fees (in and out) at various banks - total ripoff.
To receive - they charge 0.1% with max 100 euros, to send out - 0.15-0.2% with max 200 euros and more.
Is there any institution or institutions that charge less?
Thanks all.

Hi Marinaap, I dont think there is an ideal way, I see it as damage limitation as everybody wants a piece of the action. I work in the UK but live in Bulgaria, ive found for smaller amounts the best is to bring cash and shop around at the better change shops. you soon learn to find the better ones. For larger amounts say if your buying a house you need to consider security but try to negotiate with the recieving bank first. I still bring cash but split it up as I travel regularly. Your better transfering direct to lev unless of course your paying in euro. I sometimes send money to my Bulgarian account from the uk but still need to pay a charge at the sending bank. Hope this helps
Socks and knickers best Smile

Peter

Well this may not be the best way but I just make a withdrawal at the ATM every day for $1.50 per transaction until I have the amount that I need at a maximum of $500 a day. Also you can set your limit by your bank higher. But many of the ATM have maximums so just go to another ATM. I understand to send money from the U.S.A you have to be present to initiate the wire transfer last I checked.

Weather

Exchange rates
September 08 2010