Nic938

Hi everyone

Could some kind person tell me why you are better to exchange your money with a financial company for eg. Moneycorps, Ozforex etc than with your own bank

Thanks

Nic

dave7370

I would imagine most people would agree that you get a far better rate and with most agents there is no fee's involved in moving your money, which banks invariably charge you.

Nic938

When I called Moneycorp last night they said there was a flat fee of £15 and my bank said £25. Moneycorp can exchange at $2.30 and bank wouldn't say over the phone had to go into my branch!!! Just wandered how much of a difference there is between them. Thanks anyway.

Nic

Mumfords

we used ozfoex..... no fee unless below 3k I think eventhen still cheaper than our bank and a better rate

Nic938

Thanks Anne, will try Ozforex then, hope you are settling well and good luck with the viewing on Sunday.

Nic

dave7370

We used Hifx and no charges involved, and no charges from the Oz bank either for the transfer.

We did well with the rate, we got it at 2.46 back in August (I think).

Nic938

Thanks Dave, will go and google Hifix now. Well done on the rate, wish it was still around that

Nic

Trevski

[quote=Nic938;5566421]Thanks Dave, will go and google Hifix now. Well done on the rate, wish it was still around that

Hi
Contact this chap [email protected] at HIFX he will look after you,also they can set up your new bank account in oz for you, if you have not booked a flight yet they also give you discounts on a flight to oz using Quantas,just tell Jonathan that we recomended him and he will help you out www.pomspersonaltouch.com
all the best
Trev

Malcs66

I was told places like ozforex and hifx are exchanging the money at a slightly less rate than what they get, so thats how they make money. So they are charging you in a way, but how that compares to a bank i don't know. Clear as mud

Trevski

Hi
you will get better exchange rates using ozforex or HIFX than banks, the inter exchange rates are for banks only you will get slightly lower as you are not exchanging as much as they do each day,thats how they make their money, but high street banks will give you a lower exchange rate than hifx etc
all the best

Nic938

[QUOTE=Trevski;5569883] Hi,

Thanks for the info and have emailed the guy so hopefully will hear something tomorrow.

Nic