Hi,
I want to transfer money from the sale of my house in the UK to Cyprus (South). It is currently in my savings account in the UK the money from the sale of my house.
I wondered is there any law on how much money I can transfer from the UK without immigrating?
What is the cheapest way to transfer money?
Can you transfer the whole amount by a personal cheque and then put it in my Cyprus bank account.
Any help or advice would be greatly appreciated.
Thanks, Kokinho
No, the law restricting it was repealed by the Thatcher administration.
Assuming that we are talking here about a five (or more) figure sum, aren't you more interested in what's the safest way? Do you really want to risk losing the whole lot (and yes, it does happen) trying to do the transfer for 20 quid instead of 50?
(But, sorry, I can't actually answer which is the safest way).
You probably can, but it wouldn't be the recommended route.
tim
In my bank it is "priority payment" and its cost is mere £21
B.
There certainly aren't any English or Scottish laws on the subject. I very much doubt there are any Cyprus laws restricting it either.
For a large sums of money, CHAPS is probably best. The interest you lose from cheaper, slower methods of transfer will be more than the fee you pay for CHAPS.
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