jac16

Good Morning

We are looking for some advice on what the best action is re changing £ to $.

Our situation is we are due to complete on our house sale in early July. This will give us around £70k to convert.

We have up to £15k in cash savings available now.

I have heared about forward contracts and wondered if anyone has done one and if so who with.

Based on previous mails on this site we have contacted HIFX and they have offered us a rate of 2.62 - Does anyone know of a better deal


Thanks in advance for any advice

Jac

maxpaxx

Hi There,

we have used these guys 3 times now so far. Once for the large transaction from our house sale proceeds and two subsequent smaller ones. Can't really fault them except to say at the end of the day they want your money TODAY they don't care what rate you get!

On the first transaction I put a watch on a rate I wanted and when it hit that I had bought the amount specified in $. This was agreed verbally on the phone and was binding. Then we paid 10% deposit and agreed a date in the future to pay the balance. One little tip you never know when you may need money out there. We said September and they can move a date further in time but not bring one back in time so to speak..that cost us $900 because we had to get the money out there for a house.

On the subesquent transactions I have just phoned, agreed a spot rate I wanted and sent the money straight away.

Hope this helps..great rate $2.62...will it go up again??

Good Luck

Maxine

jac16

Congrulations on getting your Visa & good luck with your move.

We are going to take the plung and book the house sale money with HFIX. Thanks for your view.

Jac