Because many people may only have experience on chagning a few hundred pounds fo holiday money it is important that they understand things are different when they are changing 1,000s for buying houses or regularly transferring money (ie for pensions)  There is a COMMERCIAL EXCHANGE RATE which is a higher value - talk to your UK bank or check the WWW for currency exchange services - this COULD SAVE YOU 1,000s!!!

Overseas house hunters and pensioners often overlook the cost of sending money abroad. For each transaction, High Street banks can charge commission of 2% and transfer fees ranging from ?20 to ?40.
The foreign bank may also deduct 0.5% when it receives the funds. And if you need to make regular payments to cover a mortgage or to receive your pension, the bank may give you the tourist rate, which is 2% to 3% worse than the commercial rate.
So a monthly transfer of ?800 could cost you up to ?72 each time including fees, according to broker Foreign Currency Direct (FCD).
Specialist foreign exchange brokers such as FCD and HiFX do not charge commission and transfer fees. Moneycorp has transfer fees ranging from ?4 for regular payments to ?15 for lump sums. It also covers any charges the receiving bank makes.
The exchange rate is equally as important as the charges. According to HiFX, if you were buying ?150,000 on the last Friday of August 2006, you would pay ?4,932.22 more at NatWest compared with using its exchange rate. Specialist brokers also let you fix the rate for up to two years.

As always it pays to do research!!