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Showing results for tags 'currency exchange'.
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Now is the best time to transfer money to the UK in 5 years
Ian from SendPayments.com posted a topic in Money & FinanceThe past 24 hours have seen the Australian Dollar surge to highs v the Pound that PIO members will not have experienced since 2017*, so if you are considering transferring any funds back to the UK now could be a good time for you. A combination of the Royal Bank of Australia leaving its cash rate unchanged at 0.1%, soaring commodity prices, a strong trade surplus and the ongoing war in Ukraine are the major contributing factors aiding this. Poms in Oz have partnered with multi-award winning Australian based (but founded by two Poms), Send Payments to provide our members with a cost-effective method to transfer funds securely from Australia to the UK. Receive a free exchange rate quote *Article written on 06/04/22
Member offer: Money back on your Accounts
Susan from Moneycorp posted a topic in Money and FinanceMoney back on your account While these times are challenging, markets are still moving. And, with uncertainty, currencies can fluctuate even more, but don’t worry, we keep our clients up-to-date, to help you feel a little more in control. As a little thank you for being a valued Poms in Oz member, you’ll receive £25 when you make an international payment of £2,500+, or £50 for an international payment of £5,000+, before midnight 31. May 2020*. Login to your account or, if you’re a new user, register for a free account using the dedicated PIO link: https://register.moneycorp.com/?rp=10168283 Remember when you make a transfer, you also benefit from: Stay informed with the rates We understand you’ll have other things to focus on, so you don’t need to watch the markets closely as we keep our clients up-to-date with rate alerts. Control your money Lock in a current exchange rate for up to two years with a forward contract (this may require a deposit) if you’re not quite ready to make the payment. Anywhere you need Download our app (UK Only) and make online payments from your mobile 24/7 with our secure online platform. Available for both Android and iOS. Any questions? +61 2 8228 1490 Email us: Australiaenquiries@moneycorp.com Send us your feedback Follow us Moneycorp is a reference to TTT Moneycorp Pty Limited which is registered in Australia (business number 116612858). Its principal place of business is Level 15 Exchange Tower, 2 The Esplanade, Perth WA 6000, Australia. TTT Moneycorp Pty Limited is authorised to deal in foreign exchange contracts and buy/sell quotes to retail and wholesale clients as an Authorised Representative (reference number 445555) of Rochford Capital Pty Limited (AFSL License No. 361276). *Terms & Conditions
Special Offer for Forum Members - Money Transfer with Moneycorp
The Pom Queen posted a topic in Visa ChatInterested in potentially getting a better deal than your bank when sending money overseas? If so, you should consider using a foreign exchange specialist company when sending money to or from Australia. A specialist company, like Moneycorp, can offer you great exchange rates and free expert guidance on the Australian dollar to save you time and money when transferring money abroad. When using Moneycorp you can expect exchange rates that are typically up to 4% better than you would get from a high street bank - this can make a huge difference to your finances. Special offer - no transfer fees Your bank may charge you anything from £20 to £40 (or currency equivalent) to send your money to or from Australia. Moneycorp don’t charge commission and exclusively for Poms in Oz members all transfer fees are waived – so you can save money on transfer fees alone. How can I register for a free Moneycorp account? Thousands of forum members have saved money by using Moneycorp. It’s simple to register for a free account and the process only takes a few minutes – click here to register online with Moneycorp.
Help! When to move Aussie dollars back into pounds?!
Kel1 posted a topic in EducationHey everyone, We have been watching the falling dollar recently and are keen to move our savings back into pounds. They have already lost a bit of value and we are watching it drop further We recently left Aus and see now how the country appears to be slipping a little further into recession/something like that. We are quite inexperienced with all this type of stuff and are not sure whether to wait, or just move it now before it drops more. What should we look out for as warning signs/positive signs? Anyone else thinking similar thoughts? Interested in people's experiences!
Shifting GBP to AUD - when/how to do it?
jakc posted a topic in Money & FinanceI had around 20k in GBP invested in shares and funds back in the UK. These were going nowhere, so I have cashed them in, and they are now sitting in a savings account back in my UK bank. I am pretty certain ill be living in Australia for at least another 5years, and most likely the long term. Therefore I want to bring the money over here, and perhaps invest in a house later in the year (in Melbourne). Q1 - What is the best way to transfer this sort of money from UK to Oz? My english friend at work said that banks swift transfers usually have bad rates and high fees, as they dont want to lose the money. Any truth in this? Q2 - When is the best time to shift it? (Can this even be answered?) I keep an eye on this link: http://www.google.com/finance?q=AUDGBP But it just seems the AUD keeps getting stronger and stronger compared to the pound - which is good, but should I be waiting for a trough or any tips on any upcoming changes that may affect this? I would be gutted if I transfer one week, and then if I waited another week, could have made a lot more (or lost a lot more I guess). Thoughts?
Options when Transferring Currency
Guest posted a topic in Money & FinanceThe types of contracts you use when making foreign currency transfers. There are various types of contract you can use when making a currency transfer, depending on your requirements. A standard contract is called a Spot Contract and this is when you carry out an exchange from a live market and complete on that contract with immediate effect. Another option would be to book a forward. Forward contracts guarantee you a rate of exchange for a future date based on the current day’s rate. A deposit is required to cover any adverse market movements, we work slightly differently to other firms in that we take a set amount but do not margin call our clients at any time. A forward rate can be secured for up to two years ahead. Please note: Depending on your timescale it may not pay to buy a forward when the rates are poor. Limits orders are very good if you have time on your side, for example if the present rate of exchange for GBP-EUR is 1.11 and you wish to see if the market might move favourably to a rate around 1.13, then you can place a limit into the market at this rate. This order is held in the market 24 hours a day, 7 days per week and secures your buy order as soon as your target rate is achieved. Some clients can be concerned about the potential for the market to fall whilst they are running a Limit order, on such an occasion a client may wish to consider an OCO. This is when you run a limit to target a higher rate of exchange at the same time as running a Stop order to protect you if the rate falls. So as well as targeting a high of 1.13, you also place a Stop for 1.09. Again this will work for you 24/7 until either target rate is achieved, if the market starts to drop, it will buy your Euros at 1.09, protecting you from any further losses. Stop and Limit orders can be withdrawn from the market at any time up until the rate of exchange is achieved at no expense to the client. Remember to always take advice on what options are available to you.