Buying a Boat Overseas Using an International Money Transfer

Buy your dream boat from overseas by sending a secure and affordable international money transfer.

Last updated:

Whether you love fishing, wakeboarding, cruising, or just exploring, you need the right boat to do it in. But from small runabouts to massive yachts, sometimes the right boat for you might only be available a long way from home.

Buying a boat from overseas can be the perfect way to track down a great bargain or get behind the wheel (or tiller) of your dream vessel. And thanks to the rise of specialist money transfer companies that offer cheap international money transfers, buying a boat from overseas is easier than ever before.


Transfer your money with WorldRemit

  • Use the code 3FREE to pay no fees on your first three money transfers
  • Choose how you want to send your money - via bank transfer, cash pickup or mobile money
  • Instant money transfers available

Using a money transfer service to buy a boat from overseas

When you need to make any sort of payment, be it a utilities bill, a mortgage repayment or anything else, in most cases you do so via your bank. But if you need to send money overseas to buy a boat, there are far better options available to handle the transfer than your bank.

The exchange rates banks provide for international funds transfers are actually some of the lowest you can find on the market, while their fees are quite high. The end result of these expenses is that an international money transfer can end up costing a whole lot more than it should, and a boat purchase that was once a bargain can start to look like something far too expensive.

But that’s where a specialist money transfer company can help. These companies, such as OFX, CurrencyTransfer, and HiFX, can offer better exchange rates and lower fees than the banks. International transfers represent their area of expertise, so they can help you enjoy big savings when you send funds overseas.

Case Study: Sarah goes boating

Sarah has found the boat of her dreams in the south of France, and she’s agreed upon a price of £5000 with the private seller. All that remains now is for Belle to send the purchase price to the seller and take charge of her new vessel, but there’s no way Sarah will be willing to accept the exchange rate on offer from her bank. She decides to compare two online money transfer companies to see who offers the cheapest transfers.

Money transfer company 1Money transfer company 2
Exchange rate1 GBP = 1.149 EUR1 GBP = 1.139 EUR
Transfer fee£0£2.99
Transfer methodOnlineOnline
Turnaround time1 day2 days
Amount received (in EUR)€5745€5695

As you can see, not only does the first company allow Belle to save £2.99 in transfer fees, but it also allows her to send an extra €50 to the seller.

Compare money transfer services to purchase a boat overseas

Table: sorted by a combination of service offering and the amount your recipient will receive

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 2,000 1 day GBP 0.00 1.124 EUR
TorFX guarantee to beat any competitor's exchange rate for a transaction (conditions apply)
(Conditions apply)
Go to site Show details
GBP 5,000 Same day GBP 0.00 1.131 EUR
Universal Partners FX offers competitive exchange rates and same-day transfers for 100+ currencies. Go to site Show details
GBP 3,000 1 day GBP 0.00 1.124 EUR
Get no fees as a Finder customer when you transfer your money overseas with Global Reach. Go to site Show details
GBP 1 1 - 2 days GBP 0.00 1.131 EUR
Whatever amount you transfer, XE will not charge you a fee for using their service. Go to site Show details
GBP 2,000 1 day GBP 0.00 1.124 EUR
Make transferring money abroad as simple and safe as possible with bank-beating exchange rates - online, via the app or over the phone. Go to site Show details
GBP 2,500 1 day GBP 0.00 1.124 EUR
With 17 years of foreign exchange expertise, OFX know the money transfers business very well, offering facilities for one-off and recurring transfers. Go to site Show details
GBP 5,000 Same day GBP 0.00 1.124 EUR
Clear Capital specialises in sending over 150 currencies abroad for both individuals and businesses. Expect to receive a dedicated account manager and same-day transfers. Go to site Show details
GBP 2,500 Same day GBP 0.00 1.124 EUR
Central FX’s dedicated private client team will guide you through the money transfer process from first call to final payment. Go to site Show details
GBP 5,000 1 day GBP 0.00 1.129 EUR
Take advantage of fee lock-ins and live bookable rates, helping you save up to 85% in hidden bank fees. Go to site Show details
GBP 1,000 1 - 2 days GBP 0.00 1.124 EUR
Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
GBP 1 1 - 2 days GBP 1.99 1.121 EUR
Special offers like free transfers and better exchange rates available for new customers.
Quick, affordable transfers around the world with both express and economy options.
Go to site Show details
GBP 5 2 days EUR 3.00 1.13 EUR
Special offer: Zero fees on your first 10 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
GBP 50 Same day GBP 2.99 1.13 EUR
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

What companies allow me to send money overseas?

The first option most people consider when sending money overseas is their bank. HSBC, Lloyds Bank, Barclays and any other major bank can send an international wire transfer with ease.

We’ve already touched on the fees and exchange rates offered by banks, so a much better option may be to use an online money transfer company. Providers like OFX, Global Reach, HiFX and many more offer this service, providing secure and reliable online money transfers.

Alternatively, if you want to send cash overseas, Western Union and Azimo run huge worldwide transfer networks. The funds you send can be collected in cash from your beneficiary’s nearest branch, with transfers often able to be sent within minutes.

Back to top

How can I compare money transfer services?

You’ll need to take the following issues into account when weighing up the benefits and drawbacks of money transfer providers:

  • Exchange rates. Compare a provider’s exchange rates with those of the banks and other transfer companies. The higher the rate, the more money your beneficiary will receive.
  • Fees. How much extra will you have to pay on top of the transfer amount to get your funds where they need to be? Can you avoid paying a transfer fee if you send a large amount?
  • Currencies. You’ll need to check to see whether the company you choose offers transfers in the currency you desire. Some companies support 50 or more currencies while others will only offer a select few major currencies.
  • Sending options. Can you place transfers online or over the phone? What about through a mobile app or by visiting a branch? Is the transfer process easy to understand from start to finish?
  • Flexible options. There may be certain circumstances where you need to take advantage of flexible transfer options, such as forward contracts or limit orders, to get the exchange rate you want. Other companies will also allow you to schedule regular payments in advance, such as if you are paying off your boat in instalments.
  • Transfer times. Compare the time each provider will take to deliver the funds you send into your beneficiary’s bank account or wallet.
  • Cash access. Will the funds be sent via bank transfer or cash pickup? If the latter, does the transfer company have convenient locations for you and your recipient?
  • Customer service. If you ever have an urgent question or a problem with a transaction, will customer service be available when you need it? Some providers will even offer 24/7 phone, email, and live chat support.

Considerations when buying a boat from overseas

  • Warranty. If the boat is new, check to see if there are any conditions attached to the warranty concerning servicing and country of operation. You don’t want to miss something in the fine print and accidentally void your warranty.
  • Shipping. How will the boat arrive in the UK: will you go over and sail it back, or will it be sent on a cargo ship? Are there any customs and importation requirements you will have to meet?
  • Can you trust the seller? Buying anything sight-unseen from an overseas seller is always risky, so make sure you deal with someone you trust. Having someone on the ground in the country you’re purchasing from can also provide extra peace of mind.
  • Extra costs. What sort of duty costs will you incur when importing the boat into the States? How much will it cost to run day in day out, week in week out.


Frequently asked questions

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site