Money Transfers to Portugal

GBP to Euro Foreign Exchange (FX) transfers to your bank account in Portugal

Our standard FX remittance service allows you to send money to your account in Portugal quickly and efficiently. Note: you must have a Caixa Geral de Depósitos (CGD) bank account in Portugal to use this service.

Latest Foreign Exchange Rates €
Date	18/05/12	17/05/12	16/05/12
Rate	0.80420	0.80080	0.79925

Tip: You can use this method to save on expensive credit card exchange charges by converting your holiday money into euros and then use your Caixa Geral de Depósitos euro credit card or debit card to pay euro bills from your CGD account anywhere in the euro zone.

Fast

Whilst we cannot guarantee the speed of transfer, under normal conditions your Euro bank account at CGD will be credited within 3 Portuguese working days from when we receive the GBP funds.

Note: The new FX service is designed to be fully automatic and efficient - you must send us money from a GBP bank account with an electronic transfer using an e-banking transfer, a standing order or a request to your GBP bank.

For payments up to £10,000, if you use the faster payments network, your bank usually sends the money on the same day.

For amounts above £10,000 you may need to instruct your bank to send us SWIFT or a BACS transfer, however the method is the same.

PLEASE DO NOT USE THIS SYSTEM FOR SENDING CASH OR CHEQUES, AS THE PAYMENT MAY BE DELAYED AND / OR REJECTED.

Free

We do not charge any transfer / payment fees to send money to your CGD bank account in Portugal.

Note: If you are sending money from another bank they may charge a fee - please check with the sending bank before making the instruction.

Competitive Foreign Exchange Rates

At CGD, we give our best possible exchange rates and do not charge any fees. Note: many companies give free transfers and then load the foreign exchange rate so you receive fewer euros for your pounds.

Our GBP to EUR standard foreign exchange rate is the ECB foreign exchange reference rate for the day prior to the Portuguese business day that we receive the GBP in our account. This means that if we receive the money in our account today you will receive the rate according to the indicative table above.

We are confident that you will be impressed - check with the competition on how many euros you receive for your pounds; and be careful, many companies do not reveal their actual rates until after the event.

Simple

Customers can transfer money to their Caixa bank account in Portugal using a number of methods:

1.	GBP electronic transfers using a GBP current account on-line payment from any UK bank.
2.	GBP electronic transfer using your credit card, through an ATM that allows bank transfers.
3.	GBP standing orders. A GBP standing order can be set up with most banks using their on-line banking facility. Alternatively, use the attached standing order form and submit it to your UK bank.
4.	GBP payment request at your GBP bank (but remember to include your CGD account reference - please see below). However, we would not recommend this, as in some cases we have found that your CGD reference is not properly transmitted.

For the most efficient GBP to euro money transfer method we recommend a standing order or electronic transfer.

Method

Our process is fully automatic - hence it is efficient and keeps the cost down.

View Steps

CGD Standard Money Transfer Service
Step 1	Ensure that you have a CGD account and that you know your 13 digit CGD account number.
	If you are unsure or wish to open a euro bank account please contact +44 20 7280 0250.
Step 2	Instruct your GBP bank using the following steps to send GBP to:
	Recipient Account Name CGD
	Recipient Bank Name HSBC
	Recipient Account Number 21319396
	Recipient Sort Code 40-02-50
	Reference Number (Your 13 digit CGD number)
	IMPORTANT: Please make sure that your 13 digit CGD reference number is correctly entered with no spaces. Please do not include other words, digits or symbols in the reference space.
Step 3	There isn't a step 3, we do the rest.
Note:	If you wish to have a faster service please see Swift Transfer service or contact our office

The euros will be credited to your CGD bank account usually within 3 Portuguese working days. If you are registered for CaixaDirecta you will be able to see the credit on-line. We will also post an advice to your regular address.

Euro to Euro transfers

Use Caixadirecta on-line, Caixadirecta telephone (phone service available in English) or contact us at 10 King William Street, London, EC4N 7TW, Tel: +44 20 7280 0250 or any Caixa branch in Portugal or Caixa branches and representative offices abroad.

Other currencies to Euro transfers

Please contact our dedicated team of English speakers at Caixa Geral de Depósitos, 10 King William Street, London, EC4N 7TW, or telephone +44 20 7280 0250 for all other currencies including SwFr, Canadian dollars, US dollars.