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Hi

I recently transfered 15000 AUSD to Aus with Moneycorp the rate on that day was 1.61 I only received 1.58 from moneycorp

can anyone explain why?

thanks Hazo

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Hi

I recently transfered 15000 AUSD to Aus with Moneycorp the rate on that day was 1.61 I only received 1.58

can anyone explain why?

thanks Hazo

 

Hi there

 

Which bank did you transfer it into? some banks can charge for receiving money transfers!

 

If you transfer with Moneycorp to a NAB bank account there is no fee from NAB or Moneycorp.

 

I know if we used a different foriegn exchange specialist NAB would have charged us $12 for receiving each transfer!

 

Hope this helps x


Fly to Brisbane 8 February 2011 - WOOP WOOP!! :wubclub:

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Guest pandj6224

Hi there,

 

The 1.61 was probably what they call the Interbank rate, part of the other 3c was their profit and costs figured in...

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Hi

I recently transfered 15000 AUSD to Aus with Moneycorp the rate on that day was 1.61 I only received 1.58 from moneycorp

can anyone explain why?

thanks Hazo

 

Hi hazo

 

Thanks for your post.

 

To clarify, the exchange rates usually displayed on websites are the current market (or “interbank”) price.

 

These are the rates that international banks or institutions quote to one another and are not typically available unless you are conducting very large transactions. The exchange rate you received on that day would have been dependent on the amount of currency you were buying – the more you buy the better the rate you will receive. This is why the “interbank” rate is displayed as an industry benchmark, as all customers are buying different amounts of currency at different times of the day (the exchange rate is constantly fluctuating).

 

John

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Guest jerrylin

hi there,

MoneyCorp is really a good way to transfer money in the cheapest cost? No need interbank fees?

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Guest jimlee43

I had an account with MoneyCorp who have now shut their Sydney based office, I called them to ask if I still had an account and was told that it is no longer active.

I wanted to make a money transfer and they told me I need a UK address, which, since moving to Oz, I don't have!

anyone use another broker which might want to help me out?

 

Thanks in advance

 

Jim

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