http://en.wikipedia.org/wiki/TransferWise
I have vaguely heard of them, and the proposition sounds a good one*. Their Wiki entry sounds ok, i.e. no 'Criticism received'.
This discussion from May on Motley Fool might be of interest. It mentions TW, and another alternative. http://boards.fool.co.uk/cheap-foreign- ... e#13022766
[It is perhaps worth me mentioning, that although I've not met any of the participants in this linked chat, they're all well established regulars, and I've participated variously with all them many (many) times over the years...]
Let us know how your investigations turn out. I'm sure it would be most useful for others in future.
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* I considered setting up a similar concept 'in-house' via the corporate Bloomberg trading/comms terminals back in the 90s. Many $-savvy people around the world with money to repatriate trading with each other, agreed with the security of dealing vs a fellow employee. But HR were unwilling (understandably) to give it their blessing, and having no personal profit motive, yet having my name attached to a scheme via which some big-swinging-dick might one day lose out on had no upsides. Concept vs reality.