currency fair exchange
Probably the most cost effective way would be if you and I were able to agree a rate-perhaps half way between the two 'spread rates'-between ourselves. Or we could wait a day until the rate was more to our liking, and then do the exchange.
Currencyfair.com based in Dublin and regulated by the EU does this in an anonymous way. Everything goes into an escrow account, and the amount you wish to exchange is matched to (probably) more than one other party. I forget but I think their commission is a flat E3. Once the exchange is completed you can transfer it wherever you like.
Go and have a look. BBC R4 programme 'Wake up to money' gave them a good report/recommendation.
S