Bazza Boy

Hi everyone

I've used this FX company for years moving literally hundreds of thousands of pounds/dollars both ways. I've regularly plugged them to others and on here, and always been happy - until now.

Their customer service has dropped, but more worryingly their rates are lower than quite a few competitors - a full 1c compared to HIFX yesterday.

Has anyone else found this, and perhaps recommend another firm to use?

Barry

Pollyana

Still getting good rates and the service is as great as ever, personally.

Kiwipaul

Used them extensively over the last 12 months and more than happy with their service and rates

Amazulu

Very happy with Ozforex. Used them forever.

Wol

I have to agree with the OP. I have used them for years, transferred much moolah and also had them transfer my pension every month.

Since Macquarie bought them out there's been a change of service, definitely. Every year my Christmas pension payment is delayed by up to a couple of weeks, and each year my April and May pension payments are likewise screwed up (That's when I get my indexing increase)

I have to get on the phone to them each time and explain again and again but it still happens next time.

I don't know if Matt Gilmour is still in the loop, but I am thinking of dispensing with OzForex.

isgraham

Well they are paying one of my mates to work there so I'm sure his rate isn't helping make things cheaper.

EvannTel

I have found HiFx better rates for large sums.

astera

Won't your bank give you very tight spreads for larger amounts if you have status with them (Premier, Gold, etc.) and call in to make the transaction?

If I recall correctly I was quoted 1.008 when the mid-rate was 1.015. Are you guys able to get better deals using these forex companies?

Reasonable

I've just compared HIFX vs OZFOREX rates. Even by going to 250000 gbp for HIFX they cannot match the OZFOREX rate for a much much smaller sum to transfer!

renth

I've always thought Ozforex was good. Particularly last time when I had to make a call. The fact that Macquarie has bought them would set alarm bells ringing though. I'll certainly be looking very closely at the rates next time. If they are the best I'll still use them.

puna

hsbc gave me much better rates than Oz Forex

astera

What kind of rate did you get compared to the mid-rate at the time?

puna

didn't know the midrate .
I had 15000 and even after I paid hsbc 20$ transfer fee as apposed to the fee free transferof oz I still ended with around 280 more than what those guy were going to give me .
I question them why and they said" that's what it is, grab the hcbs that's too good a rate they've given you'
I was not their premium customer just an ordinary one.
they do give better rates is you are a customer but maybe even better if you are a premium.

astera

They have this online GetRate function that is very good and you can do it all yourself via ibanking. The next time I do a conversion I will post both the midrate from XE and well as the conversion rate applied.

Reasonable

Premier customers used to get good rates but not any more. Even HIFX are better than HSBC.