Exchange rate
#1576
Joined: Jul 2007
Posts: 2,139
Re: Exchange rate
Well, I just bought $CAD (cash) for 1.9413 with ICE currency exchange. I am really pleased with that rate considering it was down to the 1.7's not so long ago. Thank goodness I can now stop obsessing over the rates every day, best of luck to those who are waiting it out.
#1577
Re: Exchange rate
I got $1.996 overnight with HSBC
dont know if anyone else is doing the same but having a chunk currently chilling out in Iceland I am trying to reduce my risks
I am taking at least the minimum required for proof of funds for PR out of the UK and parking it in Canada. ( in seperate accounts to spread in any risk)
Imagine the nightmare if your proof of funds amount was tied up in a collapsed bank that you had no access to for months on end.... and it messed up the last lap of immigration
interest rates in Canada are dire but the feeling of security outweighs this by far
good luck all
dont know if anyone else is doing the same but having a chunk currently chilling out in Iceland I am trying to reduce my risks
I am taking at least the minimum required for proof of funds for PR out of the UK and parking it in Canada. ( in seperate accounts to spread in any risk)
Imagine the nightmare if your proof of funds amount was tied up in a collapsed bank that you had no access to for months on end.... and it messed up the last lap of immigration
interest rates in Canada are dire but the feeling of security outweighs this by far
good luck all
#1578
Re: Exchange rate
and last night got slightly over $2 with hsbc got to make hay while the sunshines
good luck all with the exchange rate rollercoaster
good luck all with the exchange rate rollercoaster
#1579
BE Enthusiast
Joined: Nov 2007
Location: Abbotsford, BC
Posts: 450
Re: Exchange rate
On the rise again up to 2.025 on XE.com. HSBC offering 2.017.
this info given by UKforex
Some calm seems to have been restored to financial markets in the past 24 hours. The UK Government yesterday announced that it would invest £37 billion in to 3 large UK high street banks through the purchase of share capital. It is effectively part nationalisation of the UK banking sector, which has left the government with control over just under half of the UK mortgage market. Meanwhile, The US Fed and European officials have announced they will attempt to shore up the banking sector with further liquidity injections, with the Fed announcing a $250 billion bail out. This has seen some risk appetite return to financial markets and equity markets have bounced on the news. The FTSE rose by over 8% yesterday and it has continued to rise today, having risen by a further 3.5% already. The Pound has pushed higher as a result and is up against the Dollar this morning. This info is refering to the USD.
The £ is also fairing well against the CD and the Euro
this info given by UKforex
Some calm seems to have been restored to financial markets in the past 24 hours. The UK Government yesterday announced that it would invest £37 billion in to 3 large UK high street banks through the purchase of share capital. It is effectively part nationalisation of the UK banking sector, which has left the government with control over just under half of the UK mortgage market. Meanwhile, The US Fed and European officials have announced they will attempt to shore up the banking sector with further liquidity injections, with the Fed announcing a $250 billion bail out. This has seen some risk appetite return to financial markets and equity markets have bounced on the news. The FTSE rose by over 8% yesterday and it has continued to rise today, having risen by a further 3.5% already. The Pound has pushed higher as a result and is up against the Dollar this morning. This info is refering to the USD.
The £ is also fairing well against the CD and the Euro
#1580
Re: Exchange rate
I sorry to ask this question as I'm sure the answer will be somewhere within the 1579 previous posts to this thread, but which one!
That is a really good rate from HSBC. I used HiFX last week and the rate I got was 0.02 below what xe.com was showing. We will be doing future trades, and I think I might be better using HSBC. Can someone advise how to use HSBC for exchanges? We have HSBC bank accounts in the UK. Do we need to open a HSBC account in Canada?
Thanks again, and sorry to go over old ground.
That is a really good rate from HSBC. I used HiFX last week and the rate I got was 0.02 below what xe.com was showing. We will be doing future trades, and I think I might be better using HSBC. Can someone advise how to use HSBC for exchanges? We have HSBC bank accounts in the UK. Do we need to open a HSBC account in Canada?
Thanks again, and sorry to go over old ground.
#1581
BE Enthusiast
Joined: Nov 2007
Location: Abbotsford, BC
Posts: 450
Re: Exchange rate
HI,
if you are still in the UK you can call your HSBC branch tell them you want to open a $CD account. They will then set this up for you you may need to go in to sign paperwork. You will then get a call from HSBC international who will ask you for your nearest branch in the city you are going to live in in Canada.
They will then set this up but you will need to go and sign up for the account when you get to Canada to activate the account!
If your are already in Canada make an appointment with you local HSBC, take details of your uk HSBC account with you. Open a $CD account. Ask them to attach to your UK account. It will take approx a week. You can then view both accounts online via global view. Transfer money can be done online only takes 2 working days. It gives you a rate before you proceed if happy, press accept in your $CD account within 2 days no fees great stuff!
if you are still in the UK you can call your HSBC branch tell them you want to open a $CD account. They will then set this up for you you may need to go in to sign paperwork. You will then get a call from HSBC international who will ask you for your nearest branch in the city you are going to live in in Canada.
They will then set this up but you will need to go and sign up for the account when you get to Canada to activate the account!
If your are already in Canada make an appointment with you local HSBC, take details of your uk HSBC account with you. Open a $CD account. Ask them to attach to your UK account. It will take approx a week. You can then view both accounts online via global view. Transfer money can be done online only takes 2 working days. It gives you a rate before you proceed if happy, press accept in your $CD account within 2 days no fees great stuff!
#1582
Re: Exchange rate
This is only true if you're with HSBC Premier - for those of us with peasant HSBC accounts, you CANNOT use globalview - I can only log into hsbc.co.uk and hsbc.ca separately, I also have no facility to transfer directly between accounts, I have to call them and generally don't get as good a rate as you get as a premier customer...
#1583
BE Enthusiast
Joined: Nov 2007
Location: Abbotsford, BC
Posts: 450
Re: Exchange rate
Anyone can open a premier account if savings of less than £50000 there is a monthly fee of £25 which is pretty reasonable for the services offered which includes free world wide travel insurance and lots of other services.
I opened the premier account with £0 deposit you have 6 months free if you account balance does not get above the £50000 mark or you are not earning more than £75,000 a year. You will start getting charged £25 a month.
So basically you can transfer money across for 6 months at the best rates for free!
I opened the premier account with £0 deposit you have 6 months free if you account balance does not get above the £50000 mark or you are not earning more than £75,000 a year. You will start getting charged £25 a month.
So basically you can transfer money across for 6 months at the best rates for free!
#1584
Re: Exchange rate
Anyone can open a premier account if savings of less than £50000 there is a monthly fee of £25 which is pretty reasonable for the services offered which includes free world wide travel insurance and lots of other services.
I opened the premier account with £0 deposit you have 6 months free if you account balance does not get above the £50000 mark or you are not earning more than £75,000 a year. You will start getting charged £25 a month.
So basically you can transfer money across for 6 months at the best rates for free!
I opened the premier account with £0 deposit you have 6 months free if you account balance does not get above the £50000 mark or you are not earning more than £75,000 a year. You will start getting charged £25 a month.
So basically you can transfer money across for 6 months at the best rates for free!
#1585
Re: Exchange rate
Anyone can open a premier account if savings of less than £50000 there is a monthly fee of £25 which is pretty reasonable for the services offered which includes free world wide travel insurance and lots of other services.
I opened the premier account with £0 deposit you have 6 months free if you account balance does not get above the £50000 mark or you are not earning more than £75,000 a year. You will start getting charged £25 a month.
So basically you can transfer money across for 6 months at the best rates for free!
I opened the premier account with £0 deposit you have 6 months free if you account balance does not get above the £50000 mark or you are not earning more than £75,000 a year. You will start getting charged £25 a month.
So basically you can transfer money across for 6 months at the best rates for free!
#1586
BE Enthusiast
Joined: Nov 2007
Location: Abbotsford, BC
Posts: 450
Re: Exchange rate
Most of the info is available on the HSBC website. It does not state on the website that it s six months free. It is written in the premier manual you get when you open the account. So you can quote that if they try and brush the six months free under the carpet!
I ve had my account for 3 months now and do not have the required funds in at the moment. As i'm in Canada i have been transferring once a week from my other uk account to the limits online banking allows. i ve had no problems using any of the services! Enjoy your trip.
I ve had my account for 3 months now and do not have the required funds in at the moment. As i'm in Canada i have been transferring once a week from my other uk account to the limits online banking allows. i ve had no problems using any of the services! Enjoy your trip.
#1587
Re: Exchange rate
i dint have to go to a hsbc branch in canada to activiate anything all was up and running and i did some transfers before we came to canada
#1588
Re: Exchange rate
Goodness.... up over 2.05 this morning!!
Cnelred, what happened there? Do we change anything now or do you think it has more steam???
Cnelred, what happened there? Do we change anything now or do you think it has more steam???