Money transfers

Homme Poco · Post by **Homme Poco** » Tue Oct 24, 2006 11:14 am

Dear All
Quite a while back,there was a topic on the forum which dealt with transfering sums from the UK to Portugal,at a very good rate of exchange and small commision?(I think).Memories going!!?,or just wishfull thinking!
Can anybody point me to the thread or the said company?
Many Thanks,
HP

Lesley Jean · Post by **Lesley Jean** » Tue Oct 24, 2006 11:35 am

Was it this one??

viewtopic.php?t=5560&highlight=money+transfers

e-richard · Post by **e-richard** » Tue Oct 24, 2006 12:09 pm

That thread mentioned above is a scary read.

I recently started using XETrade ( https://www.xe.com/fx/ ) and pay about £8.13 per trade, regardless of amount and I get a good rate of exchange too.

It takes a bit of work to set it up. It helps if you have Internet banking in the UK and you'll need all the details (including IBAN, NIB etc) for the Portugese receiving bank as well as all the usual anti money laundering bits and pieces of identification, but once you've gone through all the setup, making trades (i.e. sending money) is really quite easy.

Homme Poco · Post by **Homme Poco** » Tue Oct 24, 2006 12:09 pm

Thanks Lesley,not sure if it was that one.
I think it was for bigger purchases, such as villas. Could be wrong tho`,usually am!

HP

Homme Poco · Post by **Homme Poco** » Tue Oct 24, 2006 12:16 pm

Thanks e-r that looks more like it,how do they make any money??

(Only read the home page quickly)
HP

e-richard · Post by **e-richard** » Tue Oct 24, 2006 12:28 pm

HP, although their exchange rate is good for me, or for you, I'm sure they are taking a fraction for themselves on each and every Euro, Dollar, Pound that is moving in their system. And they are moving gazillions of Dollars all over the world, so I wouldn't feel too sorry for them.

Whenever you make a trade, you ask for so many Euros or you say you are selling so many Pounds, and then they give you an exchange rate quote which only lasts for about 45 seconds, so if you do not press the Submit button, it changes. When moving larger amounts, this can be quite nerve racking - to press or not to press. Which way is the currency moving ?

But I'm sure this is the sort of system you are looking for. By all means PM me for more.

Lesley Jean · Post by **Lesley Jean** » Tue Oct 24, 2006 1:13 pm

oops.... sorry, just did a quick search and came up with that one. Sorry it was no good. I must read things properly when I do this in future...

Scorpion · Post by **Scorpion** » Tue Oct 24, 2006 1:17 pm

I've used a company called HiFx plc - I work for a big US bank and a colleague in our own money transfer dept recommended them as being used by a number of his clients for smaller transactions. Never can be too sure how competitive their rates are but they will guarantee no bank charges (and will refund you if your bank in portugal charges any). I moved £55,000 to Portugal over the summer and have set up a 2 year forward contract so they send over a fixed amount of Euros every month at a fixed exchange rate to meet my mortgage commitments. Found them very easy to deal with.

Homme Poco · Post by **Homme Poco** » Tue Oct 24, 2006 1:19 pm

Not your fault Lesley,I didn`t give all the details.

HP

bazza · Post by **bazza** » Tue Oct 24, 2006 11:16 pm

Try Moneycorp.com

Al Garb · Post by **Al Garb** » Wed Oct 25, 2006 2:46 pm

I give my vote to hifx.com. Their minimum is £5000 but you can fix a rate for smaller regular amounts over the year. They usually beat the banks by0.02cents and no charges. As with all these companies you register first (for free) and then ring for their rate prior to transfer. You can then decline or go ahead. Your verbal decision is binding and the paperwork follows next day. Transfer takes 3 or 4 days and I've never had charges at this end.

Homme Poco · Post by **Homme Poco** » Thu Oct 26, 2006 9:25 am

Thanks All.
We thought Moneycorp looked OK.Coincidentally we are going to Marbella next week to see some friends and they have an office there,so we are going to pop in to see them.
It should be nice to put a face to the people who`s dealing with our hard earned readies!
Will let you know how we get on,for future reference.

HP
PS Anybody know the way to Marbella from CVO.

Homme Poco · Post by **Homme Poco** » Fri Nov 10, 2006 1:12 pm

Looks like the best rate we can get ,is from a company called,"foreign currencies direct" (www.currencies.co.uk).Could be useful info´for someone,it was for us.

HP

Scorpion · Post by **Scorpion** » Fri Nov 10, 2006 1:43 pm

I sold £5,000 bought Euro @1.47 yesterday through HiFx - no charges from them - sending to my account with Santander in Faro - will let you know how long it takes and whether they charge on receipt.

Homme Poco · Post by **Homme Poco** » Fri Nov 10, 2006 3:31 pm

F.C.D 1.48

Money transfers

Money transfers

Money Transfers

Dosh

Money Transfers