joho

Ok I have registered and have documents ready to fax. Have had a read and it would appear that I have to deposit my money into Barclays bank for £s. Under an account number 'pot'. One assumes that they use my reference name as an indication to who I am and it is not a sperate bank account just for me. I then have to say the account for funds to goto, namely my oz account. Ask them to do it and hey presto.

Is this basically correct or can someone enlighten me. It would appear that this is the easiest one to use.

Jo

Pollyana

Thats basically it, yes. When you deposit the money with them they ask you for a reference - I use my name and the date and that always works OK. When you have told them where you would like your funds deposited, they will send you an email to confirm. You have to respond to this email in order to activate the transaction. Once the money is converted by tehm into the new curency you will get another email telling you how much is on its way to you.
Hey presto the money will be in your account after a few days (usually takes a total of 4 working days Aus-UK for me)

spalen

When you register they give you account & userid

You Log on and setup a beneficiary account (your destination account in Aus)

You setup a trade - buy 1000UKP into Aus $ and chose 'auto convert' or 'i will convert' in the setup a trade window you specify destination account . I will convert means they put the money on th ewebsite and you watch the rate and when you want to buy then you click on buy and thats that. Auto convert means they will convert as soon as thye get the funds.

They send you an email saying ' did you know you just bought 1kgbp ' etc and you have to click on it and 'authorise' the trade, i think they call it 'validate'.

then they send you another email saying 'please deposit 1007 pounds in our account with your name as reference and reply to this email with details of exact amount, when, from where, ' and they match it all up.

They advise you to use odd amounts - like 1012.13 instead of 1000 so that they can see your amount more easily.

They're great Ive used them loads. Its all easy once you're in. any q's get back to me.

joho

Thanks very much. Its quite scarey to think a few clicks of the keys and its done.

Jo

spalen

Its good fun though - next you'll be day-trading in stocks!.