Currency Transfers

scubydoo wrote:Hi Jan I would suggest checking the rates first as we are Barclays customers in UK and Spain although we would not have to pay charges the rates on exchange are always rubbish compared to any of the leading transfer companies.

Cheers

Thanks. Will do !

Since 2001 we have always used HiFX very successfully, including again yesterday whilst sterling is stronger than it has been for a while. Everything can now be done online very simply http://www.hifx.co.uk/personal.aspx

As Paul says it is so simple on line now the rate today on FairFx for small transfers on to a prepay card was 1.2090
and for large cash transfers more than10,000 on FairPay was more than 1.22.
A Link to save you paying the £9.99 subscription fee is below.

Cheers
https://www.fairfx.com/ref/p3thr

Rates have really gone in favour of Sterling this week. Might be a good time to lock in a longer term deal at current rates.

I too have used Currency Direct and found them good but FairFx are also brilliant I use them all the time and the card comes in very handy I got the £9.99 waived by using a link like Scubydoo mentioned, although I never keep a lot of cash on the card I can do instant transfers using my mobile and the card is loaded very quickly.

Great site and good information.

Thank you

Have just compared FairFX with Currencies Direct. For a transfer of Euro 900 which is my usual amount FairFX quote a rate of 1.212 or a cost of £742.57 and Currencies Direct quote 1.2235 or £735.59, a difference of £7
So effectively CD offer a 1% better rate but take a few days to credit the account. I guess it depends on how quickly the money is needed to be available.

I totally agree I use FairFx for convenience and may only transfer £100.00 to have on the card for meals etc. for any sizeable amount shop around.

I can certainly recommend Transferwise.

We used to use XE.com but we have used Transferwise several times now and gave a much better rate both times.
I have also compared with moneycorp and currencyfair and transferwise has a better rate even after the 0.5% commission.
The money was even deposited into our account abroad the same day on one occasion.

No registration was needed or ID documentation to send to the company and you can transfer from your bank account or simply pay with your debit card up to £3000 as we did, a lot more simple that any other method we have used in the past.

Another company to add - smartcurrencyexchange.com - we have used them several times now, have not been charged and have found them very helpful.