Britline International Payments: Fees and Exchange Rate

4 minute read

When sending money internationally you want the process to be simple, and not have to spend more on fees than you should. Making an international bank transfer directly through your bank, may seem like the most convenient option, but it can involve some hefty fees and marked-up exchange rates.

This is why a lot of people turn to alternative providers who can offer speedier and more efficient international bank transfers, as well as giving you better value overall. Britline, a branch of the French Crédit Agricole, is one option you might like to choose. Offering an English speaking French banking service for clients in the UK, Ireland, and France, Britline provides international transfers through the Britline International Payments Service (BIPS), at competitive rates.

However, is Britline the cheapest way to send money abroad? It’s vital to compare fees and rates from multiple providers, before making an international transfer. TransferWise is another popular platform for making international payments or money transfers, making use of real exchange rate and low fees to offer its users the very best value transfers.

This article will take a look at the fees and exchange rates for transfers via Britline, to help you start your research. It will also introduce some information on TransferWise as an alternative option.

Britline fees: What is the real cost?

When you’re trying to find the cheapest option for international money transfers, it’s vital to look at the small print of each provider to see what kinds of fees and exchange rates they use. Some providers are totally up-front and honest with their fees, while others can make them hard to find. The table below shows you some of the fees that you need to be aware of when sending money through Britline.

Type of Fee Britline Cost
Exchange Rate Like a lot payment providers, Britline likely doesn’t use of mid-market exchange rate, as they apply a foreign exchange commission of 0.05% to international payments.²
Transfer fee Britline charges transfer fees on all online international transfers under the value of £2,500. This provider charges £9 for every transfer below this limit, but doesn't change fees for transfers greater than £2,500.¹It’s worth noting that these fees do not apply when making telephone transfers, but other rules and restrictions will apply.³

For the latest and most up to date fees and exchange rates from Britline, you can check their official site.

Are there limits?

There are some limits and restrictions to be aware of when transferring money abroad with Britline. For starters, when transferring money online with this service, the minimum transfer amount is £50. The maximum, however, is £300,000. There are 37 different currencies available with Britline when transferring online. There are no maximum transfer limits for telephone transfers, but there is a minimum transfer size of £10,000.³

Save money on international payments with TransferWise

If you're looking for a cheap, convenient international money transfer service, TransferWise may be the best option for you. Britline, as well as many other payment providers, likely makes use of adjusted currency exchange rates when dealing with foreign currency. TransferWise, however, always uses the real exchange rates, which are the same rates you would find when searching on Google, or popular currency exchange rate sites like XE.

Whenever you send money abroad, it’s so important to compare both the fees and the exchange rates. Some providers can lure customers in with the promise of low fees or even no fees at all, but they still have to make their money somehow, and they often do this by changing the exchange rates in their favour. With TransferWise, you always get total transparency on both fees and exchanges.

Not only that, but TransferWise also offers other great services like the Borderless account, that gives you local account details for EUR, USD, GBP, NZD and AUD. Ideal for travellers, freelancers, and expats alike, this lets you spend money in any currency you want, receive money for free from around the world, and send money with minimal fees too.

TransferWise always uses the real exchange rate without any adjustments, giving its users a fair deal. In fact, you can actually visit the TransferWise live comparison tool page at any time to see exactly how the exchange rates vary between TransferWise and many leading banks and payment services, giving you all the information you need on how much money your recipient will actually receive every time you make a transfer.

Britline, offer highly competitive exchange rates and can seem quite appealing to those wishing to make a transfer abroad. Britline’s exchange rates seem stronger than many other providers and banks, but you should always take the time to research the best option for your specific payment

There’s no such thing as zero fees or 0% commission. It’s vital to remember that banks and payment providers have to make money somehow when performing a service like an international money transfer. The key is to shop around and see which provider offers the lowest fees and best rates. Send money with TransferWise, and see how much you could save on international payments.

Sources used:

1.Britline: What to check when making an international transfer
2.Britline: Banking Fees
3.Britiline: International Payments
4.XE: Exchange Rate: 13-02-2018
5.Britline: Exchange Rate Comparisons

Sources checked on 13-August 2019.

This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.

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