Send Money to Guernsey

World First
Margin Rate: 0.7%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
GCEN
Margin Rate: 0.8%
Minimum Transfer: £2000
Transaction Fees: £0
FCA Regualted: FCA Regulated
Currency Solutions
Margin Rate: 1%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated

Countries in Guernsey

Send Money Transfer to Guernsey

Guernsey is part of the Channel Islands and can for all intents and purposes when it comes to money transfer be considered part of the United Kingdom. As such is uses the British pound (GBP) and operates under the UK banking system. There are no restrictions relating to the transfer of funds there.

An easy way to transfer funds to Guernsey will be via any of the UK high street banks operating on the island. If you want to send cash without using your bank account or if you do not have one yet, you can opt for a worldwide money transfer service via a Money Sending Bureau. These establishments are found in major cities around the world and are also found in Guernsey. With this option however you will need to pay a significant commission on the transfer and it is worth looking around as fees can vary between just a few percent as high as 15% of the sum being sent. These institutions also often comparatively poor exchange rates so again the total costs need to be considered.

The procedure is however relatively simple: You take the money you would like to transfer to an office in cash. You have to fill in a form, pay the service fee, and show a valid ID. Alternatively, you can process your money transfer online. Once this procedure is done, the recipient can pick up the money at another office simply by showing his or her own ID. With the transaction number you receive, you can track the status of your transfer online.

A third option is to use a foreign exchange broker to send money to Guernsey as part of the UK system. These companies shift huge volumes of currency around the world and therefore come with a couple of significant benefits. They are usually more competitive than the high street banks offering a better exchange rate and depending on the amount being transferred and the frequency of trade, lower fees. They will usually move your funds quicker than a bank or Money Sending Bureau meaning the funds will reach the destination account much quicker. They will often offer a more personalised service which is important if your transfers are ongoing. Fees will vary depending on the country in question depending on the currency flows in and out of the countries concerned. It is worth nothing that a number of brokers have minimum transfer values.

Bank Note System
Banknotes: 1, 5, 10, 20, 50 Pounds. Other regional notes (issued in Northern Ireland, Scotland, Isle of Man and Jersey) are equally valid, though difficulty is often encountered presenting some. 1, 2, 5, 10, 20, 50 Pence; 1, 2 Pounds. U.K. and local coins circulate alongside each other at par. U.K. coin is accepted.

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