The Fixer: international transfers

Have you been left out of pocket due to poor service or sharp practice? Do you have a money problem that won't go away?

It can seem impossible to get a fair result when you are battling a financial issue alone. But never fear! The AOL Money Fixer is here to help.

Dear Fixer,

I need to send £6,000 to my son, who lives in Spain. He has an account with a Spanish bank, but when I asked my bank about making the transfer, I was told there would be a charge of £30.

The interest rate on offer also seems quite poor. Can I trust the currency transfer brokers that I have found online to give me a better deal?

M Kelly, Leicester

Dear Ms Kelly,

High Street banks often impose high charges for international transfers, while the exchange rates on offer can also be well below par.

For a transfer of this amount, I would therefore advise you to use a specialist money transfer service offering lower charges and higher rates.

You need to be sending money to an account in the recipient country to use these services, but as your son has a Spanish bank account that should not be a problem for you.

Money transfer services you could try include Currencies Direct, FairFX and TransferWise.

For the amount you want to send, both Currencies Direct and FairFX offer fee-free transfers, while peer-to-peer service TransferWise charges just 0.5%.

All these firms are authorised by the Financial Conduct Authority.

The Fixer

Whatever your financial problem, write to themoneyfixer@aim.com and The AOL Money Fixer will get on the case.