£600 More in Your Pocket
vs. HSBC Premier
British sellers, Charente property · Charente, France → UK
Assuming private banking means the best rate
Philip and Dianne were selling their Charente property and planning to convert 137,000 € from EUR to GBP. They had an HSBC Premier account, a premium private banking product, and assumed it offered the best available exchange rate.
The HSBC Premier rate they were offered was 0.8297. What they didn't know was that a significantly better rate was available to them with almost no additional effort.
The referral came via Cecile at Foncierecharentaise, a trusted estate agent in Ibanista's network who had seen this scenario enough times to know the difference mattered.
A direct rate comparison, a 5-minute registration, and £600 more
Ben sent Philip and Dianne a direct rate comparison: Ibanista's rate of 0.8340 against HSBC Premier's 0.8297. On 137,000 €, that difference equated to £600.
"That is a £600 saving for the sake of a 5 minute registration online," Ben wrote.
An IBAN was generated within 2 hours of the account being set up, giving the notaire the payment details they needed to release the funds. The account setup was completed the same day. The conversion was executed at the agreed rate, and the funds arrived in the clients' UK account promptly.
This is the case study Ibanista uses most frequently when speaking to HSBC Premier, Barclays Premier, or NatWest private banking clients, the assumption that premium banking equals best rates is almost universally wrong when it comes to foreign exchange.
That is a £600 saving for the sake of a 5 minute registration online.
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