Currency Exchange companies....secure?
May 20th 2005, 5:18 am
#1
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Thread Starter
Joined: Jul 2004
Posts: 4,235
Currency Exchange companies....secure?
Ok, what I need to know is what to ask to ensure that the company we are planning to use to exchange our Pounds into Dollars are legit?
Currently, all I have done is filled in their online registration form and sent them an email with my bank account details and ID.
How do I know that when I get the money put into their account, it will definatly be forwarded into my account?
It all feels a little dodgy to me and want to know if I should be checking anything in particular before we go ahead with this.
Any suggestions would be well appreciated.
Cheers,
Hels
Currently, all I have done is filled in their online registration form and sent them an email with my bank account details and ID.
How do I know that when I get the money put into their account, it will definatly be forwarded into my account?
It all feels a little dodgy to me and want to know if I should be checking anything in particular before we go ahead with this.
Any suggestions would be well appreciated.
Cheers,
Hels
May 20th 2005, 5:42 am
#2
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Joined: Aug 2002
Posts: 7,613
Re: Currency Exchange companies....secure?
Originally Posted by Hels
Ok, what I need to know is what to ask to ensure that the company we are planning to use to exchange our Pounds into Dollars are legit?
Currently, all I have done is filled in their online registration form and sent them an email with my bank account details and ID.
How do I know that when I get the money put into their account, it will definatly be forwarded into my account?
It all feels a little dodgy to me and want to know if I should be checking anything in particular before we go ahead with this.
Any suggestions would be well appreciated.
Cheers,
Hels
Currently, all I have done is filled in their online registration form and sent them an email with my bank account details and ID.
How do I know that when I get the money put into their account, it will definatly be forwarded into my account?
It all feels a little dodgy to me and want to know if I should be checking anything in particular before we go ahead with this.
Any suggestions would be well appreciated.
Cheers,
Hels
2. You can ask people here for recommendation. I can personally recommend HIFX, I have used them for several years and consider them a reputable company. I have no link with them except as a customer.
May 20th 2005, 5:52 am
#3
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Thread Starter
Joined: Jul 2004
Posts: 4,235
Re: Currency Exchange companies....secure?
Originally Posted by Don
1. You can ensure your money lodged with them is kept in a client account.
2. You can ask people here for recommendation. I can personally recommend HIFX, I have used them for several years and consider them a reputable company. I have no link with them except as a customer.
2. You can ask people here for recommendation. I can personally recommend HIFX, I have used them for several years and consider them a reputable company. I have no link with them except as a customer.
This is the company I have been in touch with
http://www.currencies.co.uk/
May 20th 2005, 6:02 am
#4
Joined: Dec 2003
Posts: 7,834
Re: Currency Exchange companies....secure?
I used www.tranzfers.com they have been superb so far.....used them lots
May 20th 2005, 6:37 am
#5
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Joined: Jun 2003
Location: Perth, Since Jan 05
Posts: 708
Re: Currency Exchange companies....secure?
Originally Posted by Hels
Ok, what I need to know is what to ask to ensure that the company we are planning to use to exchange our Pounds into Dollars are legit?
Currently, all I have done is filled in their online registration form and sent them an email with my bank account details and ID.
How do I know that when I get the money put into their account, it will definatly be forwarded into my account?
It all feels a little dodgy to me and want to know if I should be checking anything in particular before we go ahead with this.
Any suggestions would be well appreciated.
Cheers,
Hels
Currently, all I have done is filled in their online registration form and sent them an email with my bank account details and ID.
How do I know that when I get the money put into their account, it will definatly be forwarded into my account?
It all feels a little dodgy to me and want to know if I should be checking anything in particular before we go ahead with this.
Any suggestions would be well appreciated.
Cheers,
Hels
I use a company called Elldridge Lynch (www.elynchfx.com)
I transfer money once a month as I have a business in the UK and they have always been fine for me. You can get live quotes online, accept it when you are happy with the rate. Transfer the money using online banking to their LloydsTSB account and about 4 days later it is in my OZ Comm Bank account.
If you need the money quicker than about a week, then probably best use someone else.
I use these after someone on here mentioned them - I thought I would give them a go because their rate always seems to be much closer to the interbank rate than the other companies.
Only downside is that you have to pay a £12 admin fee per transaction.
Sign-up and have a play around on their test account
Cheers
Dave
p.s. Thanks for the PM. I will get around to sending a reply real soon.
May 20th 2005, 6:49 am
#6
BE Forum Addict
Joined: Jan 2004
Posts: 1,818
Re: Currency Exchange companies....secure?
I used HIFX to lodge my $100k bond - it was nice and easy with them, and they seemed very efficient.
SS
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May 21st 2005, 7:54 am
#7
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Thread Starter
Joined: Jul 2004
Posts: 4,235
Re: Currency Exchange companies....secure?
Thanks everyone for your help with this.
I might try one of the other options as at least I know they are tried and tested.
Dave, I was wondering just the other day what happened to your reply PM....
I might try one of the other options as at least I know they are tried and tested.
Dave, I was wondering just the other day what happened to your reply PM....
