paula&lee

Morning All

After watching the exchage rate fall over the last few weeks with ozforex I am now considering bitting the bullet and changing my money.

I leave in 5 weeks so need to start doing something

As alot of you are I am quite nervous about using ozforex, I am in the process of gathering the required documnets to send to them for ID purposes and statement to show I have the funds and wondering to myself is it a risk worth taking or shall I just go to my bank and ask them to do the xfer? I know I will loose a few thousand dollas but itsn't it safer

Help please?

Paula

ey up 1

Oz forex were superb, saved us thousands & far better than the banks

DrWho

Why on earth isn't OzForex safe...?

paula&lee

don't know?

U hear a few reports about money excahge brokers and ur money going missing

I have everything ready hear just need re assurance

carlosthegerbil

Just a suggestion Paula,

If you are not happy with the exchange rate, why don't you just change enough to keep you going, and leave the bulk of it here until you are happier with the exchange?

Ozforex only charge commission on exchanges under £2000 I believe, so why not just change £2k and then leave the rest in your UK account until you REALLY need it?

The exchange rate will fluctuate all the time, and although it is a gamble, you never know what will happen in a couple of months time.

Just have a look at the long-term graphs and figures Ozforex have on their site, it makes interesting reading.

DrWho

Never heard that... These days anyone involved with money and the general public has to satisfy extremely stringent criteria designed to safeguard people like you and me... I wouldn't worry at all... Who did you hear about...? Any names or just anecdotal stuff...?

paula&lee

no names as such just refered to as echage brokers i think one of the moderators ref to it in another thread

Buzzy--Bee

It was JAJ who referred to it. I have transferred a lot with Ozforex, but please make up your own minds based on the "safety of your money" section on their, or any other exchange provider's, website.



Buzzy

Centurion

I have used Ozforex for three years on and off. They are great and have offices in London and Australia. Real offices, real people with a proven track record of transferring millions.

I do not believe I have ever seen a thread posted on here suggesting that anyone has ever had any problems dealing with any accredited currency broker.

Stop worrying and just do it....

mbike

We bought 10k when we first came over as the rate was just 2.32. The rest of our money sat in an ING account until the reached reached 2.53 - which was our target rate. This took over a year and a half to reach. We rent so having the money here wasn' an issue. We made 18k on the transaction. Worth waiting if you can.

Mark

mbike

And no transaction takes place without them phoning you to verbally agree the deal you have just bought into. Very reassuring

chrisandvee

I use a foreign exchange company when sending money from uk to spain and they save you fortunes, front buying fixing the rate ect. Does anyone know the exchange rate at the moment for that company and how it compares to the banks?

davo453

I speak as one thats moving money the other way Oz->UK and am rejoycing in the current exchange rate.

We are about 10,000 quid up on the January exchange rate.

We have used Ozforex for all of our transactions and have been very happy with the service. There is a delay between them receiving the money and then depositing it in to your account (whole thing takes about 5 working days) but the significant advantage over bank rate has been worth it.

arkon

I found an inter-bank transfer from my UK bank to my Oz bank gave the best exchange rates. Even better than Ozforex etc. Felt a lot safer too as it was all electronic from one to the other. Oh plus a letter to the UK bank to Authorise it.

I personally can't understand why people use the inbetween brokers rather than just go inter-bank. If the rate is the same or better there is no comparison IMO.

mindblower

http://newsvote.bbc.co.uk/1/shared/f...5/intraday.stm

Ideally a wait back to the 2.50 highs, but with 5 weeks to go unlikely, Oz dollar strong now.

Shame