iBoBBa

Been thinking allot about this and I'm sure others have too so I did a little research to help people in the same situation.

First of all we all know (In the UK) all the high street banks and post office's will do they're best to screw you out of your money to benefit them, now I kind of new this and had accepted it until looking more in depth.

I've been seeing rates from 1.4-1.55 during the last few weeks so I had accepted that and I would be getting around $1500 for every £1000, until looking 'around' my local city I found 3-4 places with rates much higher than this..

The highest I've found so far is 'MJMoneyTransfer' which is on the outskirts of birmingham (And i mean on the edge, not a rough area) that you leave a small deposit and they order the money in, most companies do this so its nothing to feel worried over and its a whopping 1.74 exchange rate.

So now I'm gaining an extra $240 dollars per £1000 I exchange, this is how found this place and I'm sure there are many places like this around you, first of all type 'Currency exchange' into Google or terms along those lines, next go to 'maps' and move to the area you live in. You will see little red dots scattered around and on the left you will see bank names and post offices as they are sponsored links.

So once you scroll down past those you see these hidden gem's that have the slightly higher exchange rated, remember get more for your money that extra $100+ could take your girlfriend out for a lovely meal etc..

Now I'm hoping that an experienced member of the BritExpats forum could help out here on travelling with money and the best way. Most places now don't accept travellers checks and anything over £1000 the boarder control get a bit fishy over it and may confiscate it.

Edit: Anything that I should add would be appreciated.

iaink

No one at the border is going to confiscate cash, but over $10000k you have to declare by filling out the appropriate form, otherwise they may decide you are money laundering.


There is a whole sub forum dedicated to exchange rate business by the way, probably a wiki too. The least hassle way is to open a Cdn bank account in advance (HSBC perhaps) and transfer money electonically. SMART transfer. Opening an account once you are here and then transfering funds is probably just as easy.

Im a cynic, if it looks too good to be true, it probably is. Either that or the website has not been updated recently?

iBoBBa

It is possibly so, there are allot of others though. Opening an account there and transferring the funds sounds best bet for me. I found the sub forum thank you how do i delete this one?

Edit: But wont be the withdraw rates in CA still be bummer than the UK?

JonboyE

1.74? If anyone is offering to sell CAD at 1.74 that then run a mile. It cannot possibly be legitimate. The tourist rate is around 1.52 at the moment. It is much more likely to be their buying price.

Aviator

Here is the live FX rate, no company can offer a 12-15% premium and stay in business.
http://www.fxstreet.com/rates-charts/currency-rates/

If you insist, know a guy who knows a guy in Lagos who can help you out. You send your cash and they do the rest.

The site you quote says $1.74 is a live rate - It is not, live rates fluctuate by the second, this is static.

Here is the live FX rate, no company can offer a 12-15% premium and stay in business.

Their exchange rate calculator did not work when I tried it. http://www.mjmoneytransfer.com/ratec...pe=orderamount

In all the FX trades we do, I have never had to pay a deposit. I book a rate and pay within 48 hours, then the transfer is done at the booked rate.