Exchanging your £'s to $'s??
Who would you recommend and why??!!
I get the principal and am quite drawn towards the one you can wait for the exchange rate to hit the level you want before the act. If you change your mind and need it before then, can you change it and ask them to act there and then at a lower rate than you had set? Presumably you deposit your funds with them in advance - do you earn interest on the funds whilst waiting and is the rate comparable to say a deposit/savings account? Bearing in mind today's interest rate rise? (How grown up to I sound?!) Thank you. |
Re: Exchanging your £'s to $'s??
HiFX seem pretty good. They email you the rates daily.You do a direct debit from your account to their's and they deposit the currency into your NZ bank account when you wanna buy buy buy! or is it sell sell sell!
time money money time gotta go sell sell sell! |
Re: Exchanging your £'s to $'s??
Originally Posted by Am Loolah
(Post 4272187)
Who would you recommend and why??!!
I get the principal and am quite drawn towards the one you can wait for the exchange rate to hit the level you want before the act. If you change your mind and need it before then, can you change it and ask them to act there and then at a lower rate than you had set? Presumably you deposit your funds with them in advance - do you earn interest on the funds whilst waiting and is the rate comparable to say a deposit/savings account? Bearing in mind today's interest rate rise? (How grown up to I sound?!) Thank you. These firms make their money by offering appx $0.02 ormore per £1 less than the live market rate. No fees or anything. In all honesty, it was a really simple thing to do, and much easier than I envisaged. I did it this way as we are leaving for NZ in 2 days, so needed the money out there. If you have time on your side, you can tell a Halo rep that you will deal with them when they can offer you $x.xx to the £1, where $x = your preffered amount. they'll then call you when the market can support what you want, but you will have to be patient as this could be a while - maybe even 12 months or more. I may be wrong, but in this instance the same situation occurs, where it is only when you have made a verbal agreement that they buy your currency for you at the agreed rate, that you then send them the agreed amount of sterling. A google for Halo Financial on google.co.uk will find them, but thereare othersout there. Shop around for the rate, and be sure to bargain with your broker. If you're changing over £15k, even a $0.01 difference can mean you gain or lose $150 straight away. We made a fair bit by doing this. Hope this helps, Wiz |
Re: Exchanging your £'s to $'s??
Originally Posted by Wiz'n'Ton
(Post 4272928)
We used a firm called Halo Financial just recently. No money was exhanged until we agreed the rate at which we wanted to deal, and once this was done, the £'s were sent to Halo by e-transfer, they then confirmed receipt and forwarded the $'s to our Westpac account. Job done, and it's taken esactly a week.
These firms make their money by offering appx $0.02 ormore per £1 less than the live market rate. No fees or anything. In all honesty, it was a really simple thing to do, and much easier than I envisaged. I did it this way as we are leaving for NZ in 2 days, so needed the money out there. If you have time on your side, you can tell a Halo rep that you will deal with them when they can offer you $x.xx to the £1, where $x = your preffered amount. they'll then call you when the market can support what you want, but you will have to be patient as this could be a while - maybe even 12 months or more. I may be wrong, but in this instance the same situation occurs, where it is only when you have made a verbal agreement that they buy your currency for you at the agreed rate, that you then send them the agreed amount of sterling. A google for Halo Financial on google.co.uk will find them, but thereare othersout there. Shop around for the rate, and be sure to bargain with your broker. If you're changing over £15k, even a $0.01 difference can mean you gain or lose $150 straight away. We made a fair bit by doing this. Hope this helps, Wiz Blimey - leave in 2 days - how do you feel?!:beer: :beer: |
Re: Exchanging your £'s to $'s??
Originally Posted by Am Loolah
(Post 4272187)
Who would you recommend and why??!!
I get the principal and am quite drawn towards the one you can wait for the exchange rate to hit the level you want before the act. If you change your mind and need it before then, can you change it and ask them to act there and then at a lower rate than you had set? Presumably you deposit your funds with them in advance - do you earn interest on the funds whilst waiting and is the rate comparable to say a deposit/savings account? Bearing in mind today's interest rate rise? (How grown up to I sound?!) Thank you. Suspect you do not earn interest on the 'deposit', although I know you should. HifX are one of the big ones. Found them helpful, friendly, knowledgeable and professional. |
Re: Exchanging your £'s to $'s??
[QUOTE=Am Loolah;4272947]Thank you both, hadn't heard of Halo will have a look for them tomorrow.
Blimey - leave in 2 days - how do you feel?!QUOTE] Erm... tired. Very, very tired. We leave in just under 36 hrs now, and I am typing this from my desk at work. Yup - I'm still here! We are *still* in the process of clearing our house. I've slept about 2 hrs a night for the past week. I'm actually looking *forward* to sitting in a metal tube, flying through the air, for 24hrs. I need a break, and the chance to relax and drink free booze :D Also a bit sad, and a bit excited, but I reckon tomorrow will see us feeling the full range of emotions at the airport. :( :eek: :) :D :confused: etc Wiz |
Re: Exchanging your £'s to $'s??
[QUOTE=Wiz'n'Ton;4273950]
Originally Posted by Am Loolah
(Post 4272947)
Thank you both, hadn't heard of Halo will have a look for them tomorrow.
Blimey - leave in 2 days - how do you feel?!QUOTE] Erm... tired. Very, very tired. We leave in just under 36 hrs now, and I am typing this from my desk at work. Yup - I'm still here! We are *still* in the process of clearing our house. I've slept about 2 hrs a night for the past week. I'm actually looking *forward* to sitting in a metal tube, flying through the air, for 24hrs. I need a break, and the chance to relax and drink free booze :D Also a bit sad, and a bit excited, but I reckon tomorrow will see us feeling the full range of emotions at the airport. :( :eek: :) :D :confused: etc Wiz |
Re: Exchanging your £'s to $'s??
[QUOTE=poppets;4273979]
Originally Posted by Wiz'n'Ton
(Post 4273950)
good luck , happy travelling
Hoorah! :D |
Re: Exchanging your £'s to $'s??
[QUOTE=Wiz'n'Ton;4273950]
Originally Posted by Am Loolah
(Post 4272947)
Thank you both, hadn't heard of Halo will have a look for them tomorrow.
Blimey - leave in 2 days - how do you feel?!QUOTE] Erm... tired. Very, very tired. We leave in just under 36 hrs now, and I am typing this from my desk at work. Yup - I'm still here! We are *still* in the process of clearing our house. I've slept about 2 hrs a night for the past week. I'm actually looking *forward* to sitting in a metal tube, flying through the air, for 24hrs. I need a break, and the chance to relax and drink free booze :D Also a bit sad, and a bit excited, but I reckon tomorrow will see us feeling the full range of emotions at the airport. :( :eek: :) :D :confused: etc Wiz |
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