Lucyjh3287 Posted August 5, 2014 Share Posted August 5, 2014 Can anyone recommend the best way of getting the most out of my English money when transferring to dollars? The exchange rate is looking better than it has for a while but when I'm looking at banks we seem to lose out on a few hundred dollars?? Can an anyone offer any advise?? Link to comment Share on other sites More sharing options...
Pumpkin Posted August 5, 2014 Share Posted August 5, 2014 Use broker like UKFOREX. Link to comment Share on other sites More sharing options...
srh82 Posted August 5, 2014 Share Posted August 5, 2014 HIFX.CO.UK do not use a bank! (Rip-off) Link to comment Share on other sites More sharing options...
NicF Posted August 5, 2014 Share Posted August 5, 2014 If you are moving a large sum of money open accounts with several fx companies (try the ones mentioned above and Moneycorp) and phone each one for a quote making sure you let them know you are getting quotes from the others. You will get a better rate this way. We only got round to opening an account with Moneycorp but got a better offer just by asking if the first rate was the best they could offer us (we were moving over £100k though). If you open an account with Moneycorp through Poms in Oz they won't charge you any fees. Link to comment Share on other sites More sharing options...
Jack91 Posted August 5, 2014 Share Posted August 5, 2014 Moneycorp are partners of the forum and are very very very helpful. See the "Money Transfers" tab at the top of the forum Link to comment Share on other sites More sharing options...
Austrial Posted August 5, 2014 Share Posted August 5, 2014 Hi Lucy, I would recommend HiFx as suggested above, I found the rate to be better than money Corp, but HiFx does charge a transaction fee. You ilk get better rates for larger amounts with HiFx. I was surprised to see that Travelex compared relatively well for smaller amounts as they do not charge a fee - they do cash and a debit card too. As of yesterday HiFx was offering in the region of 1.789 to a pound. Hope this helps. Link to comment Share on other sites More sharing options...
Guest Posted August 5, 2014 Share Posted August 5, 2014 Currencyfair Link to comment Share on other sites More sharing options...
TheEscapePlan Posted August 6, 2014 Share Posted August 6, 2014 Currency online are good Link to comment Share on other sites More sharing options...
Nearlythere1 Posted August 9, 2014 Share Posted August 9, 2014 Hi, I tried PayPal a few days ago. Just tried £10 to see what I got. I got £9.90 paid into account at a decent rate. So lost 1p in the pound.. Seemed ok to me but don't have anything to compare against as yet.. I think they have daily transaction limit if £10000. Link to comment Share on other sites More sharing options...
QuinninOz Posted August 12, 2014 Share Posted August 12, 2014 Hi, I tried PayPal a few days ago. Just tried £10 to see what I got. I got £9.90 paid into account at a decent rate. So lost 1p in the pound.. Seemed ok to me but don't have anything to compare against as yet.. I think they have daily transaction limit if £10000. PayPal is great for domestic and international transactions where the amounts are less than a few hundred pounds. Internationally more then a few hundred pounds and the story changes quickly because the exchange rate offered is no where near as competitive as specialist money transfer companies. They even warn you about this on their own website. Link to comment Share on other sites More sharing options...
rossco2810 Posted August 12, 2014 Share Posted August 12, 2014 ok, i give up! how do u make an international transfer on Paypal? Ive signed into my account & the new layout looks lovely but to do anything i seem to need an email address or mobile number which the recipient has registered to receive payments! Link to comment Share on other sites More sharing options...
Guest Posted August 12, 2014 Share Posted August 12, 2014 Sign up to currencyfair to transfer your money, it's a great rate and very easy... Link to comment Share on other sites More sharing options...
QuinninOz Posted August 14, 2014 Share Posted August 14, 2014 ok, i give up! how do u make an international transfer on Paypal? Ive signed into my account & the new layout looks lovely but to do anything i seem to need an email address or mobile number which the recipient has registered to receive payments! The recipient does need to be registered with PayPal to receive payments but they can do this after you make the transfer. It is an email based system where you and the recipient need to have a verified account. For small amounts (less $300) they are fast and relatively inexpensive because of low or zero fees (but they do make money on exchange). Many of the other services mentioned here cannot transact below a certain amount ($500, $1000) but your recipient will not need to be registered - they will need a bank account however. Link to comment Share on other sites More sharing options...
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