Rob Morton-Jone

If, for example, HIFX are advertising the daily exchange rate at 2.3, is that the rate you would get when changing your money?

Or does this amount differ alot and by how much?

Any info and examples anyone could share??????

Rob

Swerv-o

Normally when a company advertise a rate, it is the interbank rate which is the rate that a bank would achieve if it was buying/selling millions of units of currency. In reality, you will probably achieve a rate of about 1c beneath this. I exchanged some in November - The advertised rate was 2.381, but I got 2.3707 - That was with Moneycorp. They gave me one rate but I had done my homework, so dropped in some other companies names and rates. The guy went off to 'talk to his supervisor', then the rate increased. It was a bit like buying a car really.

Hope that helps.

S

marco121068

Best thing to do is give a few of them a call in the morning asking what rate (and more importantly how much in total) they will give you based on a few amounts you have in mind. If you do them all in quick succession then you'll have a better idea of who gives you the best one.

The only site I've seen which actually shows you different rates for different amounts is the Tranzfers/Ozforex one. Even then it's well worth talking to them as they have improved on those shown for me in the past.

Lastly - if it rises to somewhere you quite like but don't have all the cash available - go for a forward contract. 5% deposit will secure you the rate.

lacey21

Don't know answer to your question Rob but not long now...

Good luck to you

Hugs LAce x

Rob Morton-Jone

10 weeks to go!!!!

Thats if we exchange in a few weeks and doesn't fall through (Gulp) !!!!

All seems well so far, no upward chain and no downward chain and the buyers are pushing for a quick exchange....

Rob

lacey21

Awww Rob, I am so pleased for you. You were one of the ones I was watching when I was waiting for my Vetassess to come back. You encouraged me.

I hope it all goes through fab for you

big hugs fab lace xxx