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currency
Has anybody exchanged currency latley?
If you! What was the best rate you could get? Who did you use? How easy was it to do? What kind of charges were incurred? Soory about all the question's, but about to exchange and looking for as much advise as poss! all the best plum & family! |
Use a currency exchange company such as ****Direct - you`ll get FOREX rates if you`re transferring more than about £5000. You have to open an account with them first (free). No charge for transferring money.
Your bank will also do the transfer but the rate may not be quite as good. Regards, Doug :) :) :) |
Re: currency
Originally posted by plumber Has anybody exchanged currency latley? If you! What was the best rate you could get? Who did you use? How easy was it to do? What kind of charges were incurred? Soory about all the question's, but about to exchange and looking for as much advise as poss! all the best plum & family! rate at the mo is 2.4024 $ to the £ Moneycorp are good :) |
how do they make their money , if they don't charge for exchanging currency?
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Originally posted by plumber how do they make their money , if they don't charge for exchanging currency? simply by selling you the currency at a higher rate to what they bought it at. It always makes me laugh when you go to a bank and they say 'no commision' The Tourist rates are about 5-10% off the actual exchange rates. Even if you are transfering a large amount of money, you still lose out on a good few %. Try going into a bank which says no commision then buying £1000 worth of currency then convert it back again and see what your left with....then you can see the commision |
Originally posted by plumber how do they make their money , if they don't charge for exchanging currency? You can use your own bank but you may not get top rates from them. I was going to use ****direct but as interest rates were falling when I was ready to transfer my money I used my bank because it was quicker (you don`t need to open an account with your bank - but I didn`t get such a good rate). Have a look at all the currency exchange companies, you`ll probably get a better deal then anywhere else. Regards, Doug :) :) :) |
Originally posted by speckles They can hedge bets on the FOREX. They only need to make say 0.01% to make a profit. Have a look at www.****direct.com You can use your own bank but you may not get top rates from them. I was going to use ****direct but as interest rates were falling when I was ready to transfer my money I used my bank because it was quicker (you don`t need to open an account with your bank - but I didn`t get such a good rate). Have a look at all the currency exchange companies, you`ll probably get a better deal then anywhere else. Regards, Doug :) :) :) all advise gratefully received ! |
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