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Large International Money Transfers Discussion area
Comments
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I believe shopping around is the best advice to sending large money transfers overseas. Get a few rates from a few brokers and see who can supply the best rate. I actually work for a currency brokerage and you would be amazed in the differing levels of exchange being offered by 'reputable' brokers.0
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Has anyone used HIFX to transfer money abroad and if so are they worth using?0
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Hi and welcome.Rowie wrote:Has anyone used HIFX to transfer money abroad and if so are they worth using?
This site has good search facilities: Search (Guide)
Search all forums for hifx* and you will get 14 results. For long threads use 'Search Thread' tool.
A few of 14 results:
Sending money overseas discussion area
international wire transfers
Best place to buy Euros to buy a property aborad??
Sending Money Abroad
where can i get the best exchange rate?
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Hello there. I need to send either:
1. £300 a month to China, or
2. £900 every three months.
This is to family so we can trust the recipient.
I am wondering firstly,
- is either of these options (1. or 2.) more cheaper?
and secondly
- am I right in thinking Nationwide would be the way to do this?
Many thanks for any help.
Sagara0 -
I agree with grumbler regarding sagara. Nationwide are excellent on smaller amounts, but not so fantastic on larger amounts I have found. Which is bizarre? I am an accountant for a firm which offers a currency brokerage service but for much larger volumes, more for large businesses.. Lots of firms offer regular payment plans etc. but I am not convinced these are the cheapest options when compared to Nationwide.
Rowie Regarding HIFX (https://www.hifx.co.uk ) I have heard they are worthwhile using for greater volumes. A friend of mine used these guys https://www.fcexchange.co.uk and said they were the most helpful and offered the highest rate. I would open accounts with two and compare rates.0 -
Just one quick note for sagara, even if you do not use Nationwide. I would not use Western Union, the rate you end up with after charges can be terrible.0
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Thanks for the help - sagara0
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Hi Grumbler. I meant the daily cash withdrawl amount as part of the issue. The other part is the actual rate of exchange offered. I believe brokerages such as the two companies mentioned above can offer higher rates of exchange. Bank wise, the only decent rates I have heard offered to friends/colleagues have been from First Direct, but still not as high as a broker.0
I think that the onliy problem when using NW card for larger amounts is daily withdrawal limit ... This discussion has been closed.
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