Exchanging the proceeds of a house sale.
Apr 18th 2005, 10:10 am
#1
Banned
Thread Starter
Joined: Nov 2004
Location: Brisvegas
Posts: 144
Exchanging the proceeds of a house sale.
As we have just sold our house in the UK we are looking closely at the exchange rate and expecting a steep rise in the next Month or two. Our question is how and where should we exchange our cash to maximise the yeild?
We have a fair chunk in our UK bank account so we should get a preferential rate but we were shocked to read on the Commbank website that they offer three different rates for cash, cheques and telegraphic transfer (descending in that order) 0.409 , 0.4113 and 0.425 this will make a huge difference but they have us by the balls as we would only be able to use TT or a UK cheque, how could we possibly get cash to get the best rate?
Come on you people who have been here and done it, help a fellow in need.
We have a fair chunk in our UK bank account so we should get a preferential rate but we were shocked to read on the Commbank website that they offer three different rates for cash, cheques and telegraphic transfer (descending in that order) 0.409 , 0.4113 and 0.425 this will make a huge difference but they have us by the balls as we would only be able to use TT or a UK cheque, how could we possibly get cash to get the best rate?
Come on you people who have been here and done it, help a fellow in need.
Apr 18th 2005, 10:06 pm
#2
Forum Regular
Joined: Feb 2004
Posts: 187
Re: Exchanging the proceeds of a house sale.
Originally Posted by Fuzzy Duck
As we have just sold our house in the UK we are looking closely at the exchange rate and expecting a steep rise in the next Month or two. Our question is how and where should we exchange our cash to maximise the yeild?
We have a fair chunk in our UK bank account so we should get a preferential rate but we were shocked to read on the Commbank website that they offer three different rates for cash, cheques and telegraphic transfer (descending in that order) 0.409 , 0.4113 and 0.425 this will make a huge difference but they have us by the balls as we would only be able to use TT or a UK cheque, how could we possibly get cash to get the best rate?
Come on you people who have been here and done it, help a fellow in need.
We have a fair chunk in our UK bank account so we should get a preferential rate but we were shocked to read on the Commbank website that they offer three different rates for cash, cheques and telegraphic transfer (descending in that order) 0.409 , 0.4113 and 0.425 this will make a huge difference but they have us by the balls as we would only be able to use TT or a UK cheque, how could we possibly get cash to get the best rate?
Come on you people who have been here and done it, help a fellow in need.
Have you done a search for exchange rates, currency, money matters?
regards Chris and Andrea
Apr 19th 2005, 9:58 am
#3
Banned
Thread Starter
Joined: Nov 2004
Location: Brisvegas
Posts: 144
Re: Exchanging the proceeds of a house sale.
Originally Posted by Handyandy180
As we are in the same boat I thought I would bump it. lets have a go???
Have you done a search for exchange rates, currency, money matters?
regards Chris and Andrea
Have you done a search for exchange rates, currency, money matters?
regards Chris and Andrea
Anyone got any advice for us?
Apr 19th 2005, 10:22 am
#4
Joined: Jul 2004
Posts: 6,360
Re: Exchanging the proceeds of a house sale.
Do a search of this forum as this topic has been discussed a couple of times over the last week or so...
Apr 19th 2005, 11:23 am
#5
Forum Regular
Joined: Mar 2003
Location: North Sydney
Posts: 241
Re: Exchanging the proceeds of a house sale.
We are in the same boat, house sale should go through in about two weeks.
We have been looking at www.currenciesdirect.co.uk and www.hifx.com. Currencies direct rate is currently around 2.48 and HIFX is about 2.47. I think these rates are probably negotiable dependant on how much you are exchanging.
Does anyone else know of any currency brokers that offer good rates of exchange, commission free, no transfer fee etc, etc?
Thanks TOB
We have been looking at www.currenciesdirect.co.uk and www.hifx.com. Currencies direct rate is currently around 2.48 and HIFX is about 2.47. I think these rates are probably negotiable dependant on how much you are exchanging.
Does anyone else know of any currency brokers that offer good rates of exchange, commission free, no transfer fee etc, etc?
Thanks TOB
Originally Posted by bridiej
Do a search of this forum as this topic has been discussed a couple of times over the last week or so...
Apr 19th 2005, 12:35 pm
#6
Joined: Jul 2004
Posts: 6,360
Re: Exchanging the proceeds of a house sale.
I've had a look a HIFX about forward buying, but you need to put a 10% deposit down, which we just dont have.
Just wondered if any of you have found a way around this or if we're just going to have to take pot luck on the exchange rate when we have the money available...?
Just wondered if any of you have found a way around this or if we're just going to have to take pot luck on the exchange rate when we have the money available...?
