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Anyone use the UK Post Office to send money?

Anyone use the UK Post Office to send money?

Old Jan 19th 2010, 2:50 pm
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Default Anyone use the UK Post Office to send money?

sounds too good to be true,

"When you transfer money abroad with us, there are no transfer charges, no commission fees and no fees charged by your overseas bank for receiving the money."

"With Post Office® Overseas Property Money Transfers, you can fix an exchange rate for up to a year."

"With Post Office® Overseas Property Money Transfers, you can fix an exchange rate for up to a year."

How do they make money? On the buy/sell price to me the buy/sell price is a commission, no commission to me would mean the actual rate?

http://www.postoffice.co.uk/portal/p...diaId=92800751
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Old Jan 19th 2010, 3:12 pm
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Default Re: Anyone use the UK Post Office to send money?

Originally Posted by sykes View Post
sounds too good to be true,

"When you transfer money abroad with us, there are no transfer charges, no commission fees and no fees charged by your overseas bank for receiving the money."

"With Post Office® Overseas Property Money Transfers, you can fix an exchange rate for up to a year."

"With Post Office® Overseas Property Money Transfers, you can fix an exchange rate for up to a year."

How do they make money? On the buy/sell price to me the buy/sell price is a commission, no commission to me would mean the actual rate?

http://www.postoffice.co.uk/portal/p...diaId=92800751
I think by "no commission" they are meaning that they don't charge a specific fee for the transaction. They make the money on the difference between the buy rate and the sell rate that they offer.
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Old Jan 28th 2010, 3:46 pm
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Default Re: Anyone use the UK Post Office to send money?

You could look into the Post Office Travel card. We have one in US dollars and you can load it with a UK credit/debit card, very useful and just a small intial fee of about £10. The card can be used at ATM's for money withdraw and by paying over the couter anywhere with a visa symbol.
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Old Jan 28th 2010, 6:23 pm
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Default Re: Anyone use the UK Post Office to send money?

Originally Posted by paulward50 View Post
You could look into the Post Office Travel card. We have one in US dollars and you can load it with a UK credit/debit card, very useful and just a small intial fee of about £10. The card can be used at ATM's for money withdraw and by paying over the couter anywhere with a visa symbol.
I don't get it. Why would you not just use your own debit/credit card to pay directly?
What's the advantage of using the PO travel card?
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Old Jan 28th 2010, 6:47 pm
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Default Re: Anyone use the UK Post Office to send money?

useful site
http://www.comparetravelmoney.com/index.asp
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