87,000 € Converted at 2%
More Competitive Than the High Street
UK-based seller (former French resident) · UK repatriation from France
Property sold, but no way to receive the euros
Matt had sold his French property and was expecting proceeds from the notaire in euros. But as a non-resident who no longer had a French bank account, he had no straightforward way to receive the funds, and the high-street options available to him came with a meaningful cost.
Most UK banks either couldn't receive euros directly or would convert them at a rate that cost Matt real money without him fully realising it. He needed a better solution and he needed it quickly.
A named EUR account, same-day setup, 24-hour conversion
Ibanista opened a named EUR client account for Matt, with his name on the account, meaning the notaire could release funds directly and compliantly. This solved both the receiving problem and the AML compliance requirement.
Once the euro proceeds arrived from the notaire, Ibanista converted them to GBP within 24 hours at approximately 2% better than the high-street rate Matt would otherwise have received.
On 87,000 €, that 2% difference translated to approximately £1,500–£2,000 more in Matt's pocket, for the effort of a 5-minute online registration.
Our only margin is built into the rate, roughly 2% cheaper than a high-street bank. On 87,000 €, that usually means you'd receive about £75,000 to £77,000.
Timeline
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