Changing euros to sterling

[mcfadden]

I have a large sum of euros in a bank in spain (100,000+EU's)  I wish to bring it back to UK.What change procedure will produce the greatest amount of Sterling? That is, should I simply have banks send to each other? Is it better to buy the sterling in Spain or in UK?

Any advice will be appreciated. Many thanks

[Westminster]

Your transaction costs are likely to be minimised by some form of inter-bank transfer (ask your bank for details). Then you will have the exchange rate to consider. You will obviously take a risk that the rate you get may be better (or worse) on the day fter you make your transaction, but there's nothing you can do about this. You will need to comply with EU Money Laundering Regulations for a sum of this size.