Money transfer uk to Mauritius

If you're transferring from one bank to another,I'm afraid you won't be able to save anything.If there's someone in uk who could send it to you as a bank order or postal order(you have to check with the post office for the limit) then you might be able to save a few pounds.

Hi,

I have a tie up with a Foxex company that give a much better rates for buying and selling foreign currencies than the local exchanges and banks. I only use them and also refer my incoming tourists  guests so that they do not lose on exchange value with the hotels, airport or the local exchanges in the city.

You can PM me for more details.

Cheers!!!
Terence

Did you check with Barclays in Mauritius? You might save on transfer rates if you have an account with them.

HSBC does that for instance: I've got free and fast transfers from France and Mauritius

Once the money is here, you can go with a Forex company as advised by Terence to get a better deal (you would need a GBP account with Barclays Mauritius).

I don't have an account in Mauritius .

Barclays Mauritius is separate to Barclays uk so I'm not sure if it would be any good .

dear all,

i spoke with ann and i am sure we can help out.

any other members more than welcome to contact me.

mark.iptfx@intnet.mu.

best

mark

Mark was very helpful and easy to talk to so don't hesitate to speak with him .

It cost £25 to transfer money from uk. If you have any bank account in Mauritius  someone from uk can make a transfer. They will need your IBAN  code and b/account.

I second the above poster. We transferred a lot the other year when we bought our property here and it was more or less straight forward, from our UK bank to the MCB. We did have to keep chasing the MCB up though and it wasnt as speedy as we liked. Fee was £25.00. You would be best with a Mauritian bank account though...
Daisymay

I'm curious. If you wrote a check on a foreign or even a local account would the bank you deposit it to charge you to cash it and put it in your account? I wouldn't think so but that's a transfer of funds.

Cheque deposits from overseas will work, but will take 8 weeks or so to be cleared. The cost with HSBC is Rs 150.

I received a tax refund from HMRC earlier but I deposited into my French account where it cleared in less than 2 weeks I wonder why it is so much slower here.

8 weeks? It's all handled electronically anymore. I don't see why it would take more than a few seconds.

International cheques do take between 6 to 8 weeks to clear.And you do have a certain fee to pay for the clearance.The amount will depend on the bank.

all international cheques have to go back to the bank they were originally drawn on its a very slow and time consuming way of sending funds then once the bank take thier forex spread which can be as much as 5 % you have lost a great deal of your money

In the U.S. people are fed up with banks and all their fees. A better solution seems to be Credit Unions, owned by the depositors and run for their benefit. They charge fewer fees and offer better terms on loans, still federally insured, they're mostly smaller, local and friendlier. Does Mauritius have anything like that?
Thanks, Tim

markiptfx wrote:

dear all,

i spoke with ann and i am sure we can help out.

any other members more than welcome to contact me.

mark.iptfx@intnet.mu.

best

mark

Hi Mark - just sent you an email. Hope you can advise.
Thanks in advance

get yourself a prepaid visa card

entropay.com

I do have a fair fx card is this the same kind of thing .

yep, its something like that, however it has wallet , which can help you control your spending limit and so on, its a UK based company so i expect funds transfer should be quick, once your account is loaded you can withdraw cash using your card in Mauritius ..

That sounds good to me too. I forget about credit cards but prepaid or regular credit  cards should be easy enough to use in Mauritius if the vendor accepts them. The card company would charge 3% to take cash out though. I don't know if the bank would charge on top of that but it probably would.

Hi Mark,
       I am moving to Mauritius in October 13, and am looking for the best way to transfer a lump sum to Mauritius. Any info on this would be much appreciated, regards Colin::

yes happy to help colin mark@ipgml.com