Currency UK - any good?
Sep 9th 2009, 8:54 am
#1
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Location: Gloucestershire
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Currency UK - any good?
Hi. We forward traded $ last year with the deal to complete in October with the intention of emigrating this year. The prospect of doing so does not now look too good and we're putting things on hold for a while. Therefore we've decided to immediately sell the $ on the day of the deal and have the stirling instead. However, when we rang HiFX (who we are trading with) they said that the $s need to be paid into a bank account that will accept that currency. We don't really want to open an Oz account, especially if we aren't moving over, so were looking for somewhere that we could pay the dollars into before trading. We tried Forex but they couldn't help and said the same as HiFX. I did come across Currency UK who can do the whole deal 'in house' so to speak and their rates are comparable, I've spoken to the same human each time I've rang and, they apparently don't have any charges (the rate being recouped from the currency rate at the time).
My question is, has anyone used them? Are they any good or has anyone heard anything detrimental about them?
Cheers
My question is, has anyone used them? Are they any good or has anyone heard anything detrimental about them?
Cheers
Sep 9th 2009, 4:00 pm
#2
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Joined: Jun 2009
Posts: 66
Re: Currency UK - any good?
I'm afraid i havent used them myself anddont think they are very well known, if you do the usual checks about the compnay using trust account you should be ok.
Sep 9th 2009, 4:03 pm
#3
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Joined: Jun 2007
Posts: 8,913
Re: Currency UK - any good?
Hi. We forward traded $ last year with the deal to complete in October with the intention of emigrating this year. The prospect of doing so does not now look too good and we're putting things on hold for a while. Therefore we've decided to immediately sell the $ on the day of the deal and have the stirling instead. However, when we rang HiFX (who we are trading with) they said that the $s need to be paid into a bank account that will accept that currency. We don't really want to open an Oz account, especially if we aren't moving over, so were looking for somewhere that we could pay the dollars into before trading. We tried Forex but they couldn't help and said the same as HiFX. I did come across Currency UK who can do the whole deal 'in house' so to speak and their rates are comparable, I've spoken to the same human each time I've rang and, they apparently don't have any charges (the rate being recouped from the currency rate at the time).
My question is, has anyone used them? Are they any good or has anyone heard anything detrimental about them?
Cheers
My question is, has anyone used them? Are they any good or has anyone heard anything detrimental about them?
Cheers
Sep 9th 2009, 4:30 pm
#4
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Thread Starter
Joined: Aug 2008
Location: Gloucestershire
Posts: 2,201
Re: Currency UK - any good?
Thanks for the replies both.
Greghal, just wondering if you could give me some more information about what checks I can do please. Hadn't even thought of doing that but given that many financial businesses are rocky at the moment, that's a good idea.
Nu-shooz sadly the problem I have is somewhere to put the $'s when they get paid out by Hifx as they can't just go to another exchange company without one apparently. It's the bit in between the buying and selling I'm getting stuck on. I had wrongly assumed that the buying and immediate selling of the $'s could be done in-house as two transactions, but it isn't possible which is proving to be a real pain.
Greghal, just wondering if you could give me some more information about what checks I can do please. Hadn't even thought of doing that but given that many financial businesses are rocky at the moment, that's a good idea.
Nu-shooz sadly the problem I have is somewhere to put the $'s when they get paid out by Hifx as they can't just go to another exchange company without one apparently. It's the bit in between the buying and selling I'm getting stuck on. I had wrongly assumed that the buying and immediate selling of the $'s could be done in-house as two transactions, but it isn't possible which is proving to be a real pain.
