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One of the more amusing things about internet forums is how convinced people are that the opinions they hold are fact
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One of the more amusing things about internet forums is how convinced people are that the opinions they hold are fact
Problem is it doesn't really give you the means to compare them... it isn't very good claiming they're fee free when with an FX transaction the fee is still applied in the form of margin added to the quote.
Given that this data isn't available you're not able to make a direct comparison... I would be interested to know how these places work behind the scenes - do they apply a fixed margin to most deals (which would be reduced perhaps for higher volume customers) in a similar way to a commercial bank - in which case presumably they themselves are simply executing on one of the main ECNs or do they regularly deal in time options with some commercial bank or other and then draw-down from that (no it doesn't make sense but I did get the impression one or two of them did something along these lines at least in the past).
Drop the buzzwords, it's very easy to compare by looking at how many Dollars (or whatever currency you're buying) you receive for a given number of pounds.
I've found Transferwise to offer the best deal every time I've transferred from GBP to USD, but your individual mileage will obviously vary depending on currencies and the amount.
The offer rate changes depending on the amount you want to transfer too, as I think I mentioned in a post earlier. You'll get a slightly worse rate if you transfer £2000 compared to £20,000 for example.
Easy way is just to compare a few. Only takes a few seconds on each, so not particularly hard.
Easy way is just to compare a few. Only takes a few seconds on each, so not particularly hard.
dowie, as above really. MSE can't put the rates on there because they change by the minute. There's only 4 recommendations, going to each one and doing a dry run isn't too taxing.
I made accounts on both transferwise and currenciesdirect just to compare rates. For me it was obvious which one to choose because CD give a crappy rate when changing <= 500 GBP.
I made accounts on both transferwise and currenciesdirect just to compare rates. For me it was obvious which one to choose because CD give a crappy rate when changing <= 500 GBP.
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I did similar earlier this year for a wedding where cash payments avoided VAT. I don't know the legalities of this but went with what our wedding planner told us....
I found the best rates (if in London) was https://www.bestforeignexchange.com/ and just use your debit card to pay. I did 7000 EUR in a couple of transactions.
[TW]Fox;29837093 said:One of the more amusing things about internet forums is how convinced people are that the opinions they hold are fact
To be fair, there was only a brief period where it did again rise above 0.8 (less than one week in April 2016) until Brexit came along and caused a jump of 10%. Without Brexit stevearno's forecast would have probably been good.
I'm pretty certain it's called tax evasion, and is highly illegal.
Better not complain about big companies avoiding tax bills, or you'll be a hypocrite.
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I'm pretty certain it's called tax evasion, and is highly illegal.
Better not complain about big companies avoiding tax bills, or you'll be a hypocrite.
Perhaps
but as it was abroad we just trusted what we were told....
Cheers mate will give it a butchers. Hopefully shouldn't be too difficult to get the desired amount of currency at a good rate!