Best way to transfer UK funds
Feb 16th 2007, 3:26 pm
#1
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Best way to transfer UK funds
Hi Everyone
Just noticed that the exchange rate is lower than it has been for a couple of weeks can anyone offer advice on the best way to transfer funds and hold them at the current rate just concerned in case they fall further any advice would be appredciated
Just noticed that the exchange rate is lower than it has been for a couple of weeks can anyone offer advice on the best way to transfer funds and hold them at the current rate just concerned in case they fall further any advice would be appredciated
Feb 16th 2007, 4:01 pm
#2
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Feb 16th 2007, 4:07 pm
#3
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Re: Best way to transfer UK funds
hi there
hifx the way to go......very helpful and freindly.
hth
paul
hifx the way to go......very helpful and freindly.
hth
paul
Feb 16th 2007, 4:17 pm
#4
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Feb 16th 2007, 5:51 pm
#5
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Re: Best way to transfer UK funds
We're using Moneycorp and they've been fantastic - really helpful!
Feb 17th 2007, 7:36 am
#6
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Location: Canmore, Alberta
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Re: Best way to transfer UK funds
If you wanted to guarantee your money at a rate so you knew exactly how much you would take. You can register with one one of the currency companies show on the other replies. You can then book what they call a forward trade for up to 12 months. You have to put a 10% deposit up front on the amount you want to exchange. If the rate was for example $2.30CDN now they would give you about $2.65 for the amount. You can then exchange your money at that rate any time during the 12 months. If you know you will need the money over a shorter period they will give you a better exchange rate. This will take out the fluctuation of the currency rates.
However my currency guy says that his firm have factored interest rates in the UK at 6.5 % next year and interest rates in Canada dropping to 3.5%. With that difference in interest rates the dollar is likely to weaken not strengthen.
However my currency guy says that his firm have factored interest rates in the UK at 6.5 % next year and interest rates in Canada dropping to 3.5%. With that difference in interest rates the dollar is likely to weaken not strengthen.
Feb 17th 2007, 2:15 pm
#7
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Feb 17th 2007, 3:53 pm
#8
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Re: Best way to transfer UK funds
Thanks guys for all the helpful advice we will probably go with HI-Fix
Feb 17th 2007, 5:54 pm
#9
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Location: Canmore, Alberta
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Re: Best way to transfer UK funds
Regardng my answer I should have said $2.265 not $2.65. Sorry
