signalnorth

Hi. Just joined the forum and this is my first post.

Just had an unsolicited call from FC Exchange offering to take care of our currency exchange matters when we move to France. I think they got our details from right-move or a similar site.

Wondered if anyone had had any dealings with them. Good? Bad? Indifferent?

Seemed over keen to have us register with them which worried me a tad.
Can anyone help/Advise

Many thanks!

L

EuroTrash

Hi, welcome to le forum.

Never heard of this firm, I don't think it's one of the well-known ones but then again I don't do a lot of transferring currency, so what do I know. Well I do know that there are lots of options, so don't rush to sign up with the first one that approaches you.

FWIW, I've just started using Transferwise and am impressed at how quick and cheap and easy it is, but all I ever do is transfer small amounts of euros to the UK, a few hundred a few times a year. If you're looking at tranferring large amounts, say for a house purchase, it's worth spending time looking for the best deal.

signalnorth

Thanks Eurotrash.

Any other replies most welcomed

cyrian

Personally, I wouldn't use a company that approached me.
I would research the market and ask for personal experiences on BE and check substantial financial companies are behind the FX company.
I use Fair Fx and Moneycorp.

petitefrancaise

We've used worldfirst for many years with no problems and great service.

Annetje

I use UKforex, quick and no charges

Pulaski

That may, or may not, be a good deal as FX companies make money in two ways: charges/fees and "spread" (the difference between the rate at which they buy and sell the same currency). Generally those with lower fees have a wider spread, and those with a better rate (narrower spread) have larger fees. Without looking at both fees and spread it is impossible to say if you're getting a good deal.

If the fee is a fixed amount (regardless of transaction size) it is likely that a low-fee, wide-spread service is a better deal for small amounts but that a higher-fee, narrow-spread service is a better deal for larger amounts.

Pica

interesting thread, more research needed methinks. We use Cornhill exchange and stupidly have no ideaof their rates

south_bound

I have used Currencyfair which is a P2P platform with a very low spread and no direct fees except 3€ to transfer out back to your nominated bank account. This has worked well so far for me.

Chatter Static

If I got a cold call from a currency firm I wouldn't be inclined to use them. I dislike obtrusive advertising and stupid adverts that are not related to the subject.

Annetje

Wow wow wow ... I just know I get a good exchange rate (compared to the life rate exchange) and that they are quick from UK to France. Mind you, I don't transfer millions

Pulaski

What is the "life rate exchange"?

Annetje

Life exchange rate ... up to date exchange rate ... second by second exchange rate .... how to say it .... ?

cyrian

Live exchange rate ?

Annetje

Is it ''having a go at me'' time ???

Sorry for not being British and trying my best to make myself understood !!!!!
Seems you Brits call it SPOT exchange rate ... my fault .... sorrry

https://en.wikipedia.org/wiki/Exchange_rate

Anyway, I just replied to somebody asking about an exchange firm and just said which one I am using. Thats it, nothing more nothing less.