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Seeking good €>£ exchange rate with reliable company
leitmotif
Posts: 416 Forumite
Hi all,
The vast majority of my company's customers are European and pay into my Dutch account. In the past I have transferred said money into a € account in the UK, which I then convert into £ as and when the exchange rate is suitable. The bank's rates were vaguely reasonable in the past; if, for example, the rate on the Forex markets was €1.13 to the £, they would selling a £ to me at €1.15. Nothing special, but OK. Now their prices seems to be €0.025 higher, so I'm keen to get a better deal. A friend has suggested certain currency exchange sites, but there are lots of them and I wouldn't know who to trust. Any recommendations?
Also, what would one have to do to trade on the Forex direct and get the currency 'at source', as it were?
The vast majority of my company's customers are European and pay into my Dutch account. In the past I have transferred said money into a € account in the UK, which I then convert into £ as and when the exchange rate is suitable. The bank's rates were vaguely reasonable in the past; if, for example, the rate on the Forex markets was €1.13 to the £, they would selling a £ to me at €1.15. Nothing special, but OK. Now their prices seems to be €0.025 higher, so I'm keen to get a better deal. A friend has suggested certain currency exchange sites, but there are lots of them and I wouldn't know who to trust. Any recommendations?
Also, what would one have to do to trade on the Forex direct and get the currency 'at source', as it were?
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Comments
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Roughly how much money are you exchanging per transaction? It makes a difference to the answer.0
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leitmotif - I have sent you a private message in regards to this.Work within the currency industry - all comments are my own opinions. ''I don't claim to have a crystal ball, or be able to see into the future, just base my views on market data and economic news.'' Quite happy to answer any questions about rates and market movements; if I can help, I will.0
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Anywhere between about €8K and €40K, 1-5 times a year, depending on exchange rate.
Thanks for PM Mike. It'll be one to consider. Any other people used one? It's good to compare rates as the difference can be significant.0 -
I've used The FX Firm a few times, for about £1800 each time. They seem pretty helpful, have good rates, and the process works smoothly enough. Their usual schedule is that on day 1 you agree the rate and book the trade, on day 2 you pay them, on day 3 they pay out.Let's settle this like gentlemen: armed with heavy sticks
On a rotating plate, with spikes like Flash Gordon
And you're Peter Duncan; I gave you fair warning0
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