Santander Exchange Rates

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SANTANDER BANK FOREIGN EXCHANGE REVIEW

More information about sending payment overseas with Santander

Santander offer two options for sending a payment overseas. You can choose either an international payment or send a sterling payment outside UK. All payments need to be done at a Santander branch where you will need your Santander Debit card and proof of ID such as a valid Passport or Driving License. The Santander website does not offer live currency exchange rates and any rate displayed will be an indication only on what you may be expected to get. You need to be an existing customer to do a payment overseas.

International Payments

Santander can offer a choice of 13 different currencies when you choose to send an International Payment,  You can choose from Australian Dollar,  Canadian Dollar,  Danish Krone,  Euro,  Hong Kong Dollar,  Japanese Yen,  New Zealand Dollar,  Norwegian Krone,  Singapore Dollar,  South African Rand,  Swedish Krona,  Swiss Franc and United States Dollar.

Sterling  Payments

 

A Sterling Payment option can only be used where the overseas bank accepts Sterling payments.  If a Sterling payment is being sent outside the European Economic Area a charge might be deducted by the correspondent bank or the beneficiary bank. Santander has no control over the amount these banks may charge. Sterling Payments being sent outside of the European Economic Area will normally take up to 5 days to reach the beneficiary.

Santander Bank

Although Santander does do currency exchange transactions, compared to other banks they are limited to a fraction of the currencies they deal with. Also Santander exchange rates are hard to find online so you will need to go to a local branch to get further information.

Disclaimer Compare Money Transfer represent the most recent information available at the time of writing - Every effort is made to keep the site accurate, however we cannot guarantee that a provider has not increased or decreased fees or charges associated with a particular product or changed its features, obligations, benefits or terms and conditions.

6 Responses to “Santander Exchange Rates”

  1. July 16, 2010 at 6:00 am

    I have an account with Santander and spent hours trying to find the cheapest way to do a regular transfer to my account in France.

    I was shocked by how much Santander wanted to charge me in transfer fees and only give me the retail exchange rate and their staff could not answer any of my questions as they didn’t know the answers.

    Thanks to seeing this review I contacted Smart currency and Moneycorp who both offered me better exchange rates and answered all the questions I needed to know.

    I decided to go with Smart

  2. July 16, 2010 at 6:12 am

    Considering Santander are a big bank they haven’t got a clue about buying and selling currency.

    I have just completed a sale of a property in Spain so as i bank with Santander a naturally went to my bank, who gave me a rate.

    It wasn’t until I spoke to my mate over several sherbets who told me to shop around!!!

    I did and thank god i did, just speaking to currency brokers I managed to save myself a whopping £6210 using AxiaFX.

    Thats a lot of money to save, its now paying for me do re decorate my house to the way i want it….

  3. August 10, 2010 at 8:33 am

    definitely not the most competitive – their exchange rates are too high and they charge transfer fees – Axia Fx don’t make you pay for transferring money abroad and they give you rock bottom exchange rates – makes a huge difference on large sums.

  4. November 24, 2010 at 2:46 pm

    I recently did a transfer to my Euro account in France. The girl doing the TT did not have a clue. Having checked my bank statement it the rate seems disproportiately low. I am trying to get a letter confirming the details of the transaction and the rate used but so far to no avail. I feel I am being fobbed off as I am sure the girl has made a mistake.
    Definitely the last time I do any sort of foreign exchange with Santander!! No Stars!!!

  5. January 6, 2011 at 8:22 am

    The best advice I could offer is don’t go anywhere near Santander for foreign currency exchanges. I run a business and my customer in France paid me on Dec 24th – when I saw the incoming sterling amount I called to ask “How many Euros were paid in ?”
    The Bank were unable to tell me. It’s not on the web-portal either – it’s a secret.
    I have to wait for a letter to be sent (10 days or with the next statement). “Can I call in and find out” I asked, “NO” they replied, “that division doesn’t accept incoming calls”….
    Their exchange rate was around 4% below the HMRC rate i noted which is all PROFIT to Santander – more like legal theft IMHO

  6. January 17, 2011 at 3:19 am

    Santander are trying to persuade me to take on their Zero credit card which will give me no charges or commission on spending abroad. I wonder if this is a good deal as they could make the money on bad exchange rates – any experience out there?

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Santander Exchange Rates are located at:
52 Brook Street, Greater London, W1K 5DS

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