“Forex trading platforms allow you to convert and transfer your money for minimal charges and are perhaps the best way to do so.  You may want to consider Interactive Brokers as a forex platform (but do shop for other forex trading platforms in your jurisdiction). You can do all sorts of currency conversion with Interactive Brokers, and it has extremely competitive spreads. For certain currency conversions involving the US dollar, the spread can be smaller than 1 pip (1/10,000th of dollar or 0.01%). Moreover, you can execute limit orders.  These spreads are attractive considering most banks operate at a spread of about 2.5-3%.”

http://www.internationalman.com/articles/getting-the-best-rates-on-currency-conversions

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