MadRad

I know a lot of other bods on here use xe, so hoping you can help.

Does anyone know how they set their trade limits? I've been using it for a few months to send money to the UK to cover the bills over there. I think when I opened the account they asked me what it was for, I stated to cover bills, and they gave me a smallish trade limit (under 10k).

Now I'll (hopefully) be transferring a sizeable chunk of cash the other way (proceeds of a house sale). I've asked for a bigger trade limit and am awaiting their response. It didn't ask me why I wanted it.

Anyone know if they will increase on demand, or is it after a certain time or what?

Thanks

cruickies

I did the same thing. If I remember correctly I ended up calling them to discuss and they increased it to £200k. It was pretty quick.

Good luck

MsElui

its on demand (alkthough takes a day or two to administer if i remember correctly). ive had to get my limit increased once or twice when I had house sale proceeds coming through.

GlastoEls

For a newbie, could you describe if XE is the best service with whom to send back money from the US (Citibank checking) to a UK bank (Lloyds current)?

Many thanks!

ian-mstm

With respect, how do you define "best"? Easy? Financially economical? Fast? Without knowing your criteria, it's hard to say.

Ian

GlastoEls

Ooh! I like it.

Smallish sums ~$500 at a time.

Looking for cheapest - without compromising safety.

Many thanks!

BackandForth

My experience have used for small sums up to $2k. Anything higher I have used my bank for security.

MadRad

Thanks - I emailed them and they want a ton of info and more documents, but it should be doable.

Out of interest, doers anyone have accounts with more than one currency exchange provider? I was looking on HiFx today and saw their incoming rates to the US seemed higher, which got me thinking that maybe I should have accounts with another couple of institutions.