Getting UK pension directly paid in France

[ajm]

Not for me, I like to know what rate I am getting on the exchange, plus entrust the pension to a French organisation such as a bank?? France has many benefits but the efficiency of French banks is not at the top of my wish list, in fact I was told some years back that once they have got the pension under their auspices they start charging admin fees, just look at the charges we pay for banking here, totally alien to most UK account holders.

La Banque Postale charges me €4.20/quarter - not exactly exorbitant

[hughnique]

No not exactly exorbitant, but still alien to what we didn't pay in the UK banks, I think CA charges me €5.60 a month then there is an annual fee of about €40. I can remember years ago attending the CPAM local office and being advised by the person there that as I had had a small amount of declared work and paid my dues then I was entitled to a small pension from the French state. I was aware that the amount of tax I had paid entitled me to diddly squat, but she then said I could merge my UK pension with this huge French pension and it would be dealt with by said French department. I was advised on here or the preceding forum not to get involved so didn't, and of course, found out I wasn't entitled to anything from the French authorities.

[ajm]

No not exactly exorbitant, but still alien to what we didn't pay in the UK banks, I think CA charges me €5.60 a month then there is an annual fee of about €40. I can remember years ago attending the CPAM local office and being advised by the person there that as I had had a small amount of declared work and paid my dues then I was entitled to a small pension from the French state. I was aware that the amount of tax I had paid entitled me to diddly squat, but she then said I could merge my UK pension with this huge French pension and it would be dealt with by said French department. I was advised on here or the preceding forum not to get involved so didn't, and of course, found out I wasn't entitled to anything from the French authorities.

I assume that your €40 is for your bank card. We got rid of ours and now just use a UK credit card.

[L Austin France]

I assume that your €40 is for your bank card. We got rid of ours and now just use a UK credit card.

I assume you are full time in France.
Credit or Debit card?
Is that for all of your French purchases?
What exchange rate do you get? I'm thinking that a years normal living purchases at a lower exchange rate would be more than French bank charges for a debit card.

[ajm]

I did say it is a credit card. Our shopping yesterday using it gave an exchange rate of €1.167/£.

[hughnique]

Whenever I use a UK card here in France be it Credit or Debit, I get charged a non sterling transaction fee, a percentage of the transaction value, Wise are giving 1.1755 this morning and that is the weekend rate which is normally suppressed a little

[L Austin France]

I did say it is a credit card. Our shopping yesterday using it gave an exchange rate of €1.167/£.

Yeah I realise that. It's just that some folk don't seem to know the difference. My most humble apologies for not assuming you did. Apparently there's not many UK banks left for us immigrants. You must be one of the few who still have one.
The rate you got doesn't seem bad but I'm still thinking a French card with FX transfers at a better rate would be cheaper over a year & certainly more suited to a life in France for only 40€ pa.
Whatever! your dosh, your choice

[elsie]

I get my UK state pension transferred to France.
I have a free French Revolut card (so no need to declare it on tax forms). I transfer UK pounds to it from my UK bank and then convert enough into euro to keep a balance I think is OK for day-to-day use. Revolut will convert up to 1000€ per month without charge with a good market rate (as long as you don't do so during the weekend when there is no market rate so they have to cover themselves)

[ajm]

The rate I got was the commercial rate that day. How to fx companies pay better and still take their commission?

[hughnique]

whatever way you look at it the FX companies are not registered charities and neither are banks, at the end of the day I find that Wise, yes they do take commission, as I would expect, but the rate is normally better than all the others crowing about no commission transfers. I find that it is familiarity as well, it takes me a maximum of a minute to activate a transfer to CA, and it's there in seconds.