Which FX Company?

Leblanc_2

Considering the problems with Crown which FX Company would you recommend EUR to GBP?

Any other advice on precautions to take in transferring funds?

Thanks

dzug1

Are you wanting to change cash, or transfer money between bank accounts?

James1715

I can recommend foremost currency group (https://www.foremostcurrencygroup.co.uk), I generally transfer up to 50kEUR per year with them into GBP. The rate they offer is between 0.5 - 1.0% above the interbank forex rate.

Never had any problems, money arrives same day.

Usually the way they work is that you call around and obtain various rates from other brokers (Moneycorp, HiFx etc.), then give these figures to them and they will always beat the rate.

I tried calling them out of the blue, and they told me to call the others first, and then call back to discuss a rate with them. Its as much to look after their own interests, but Moneycorp and HiFx were not even willing to negotiate on rates below 100k, so from my point of view I was happy to be offered the best deal.

Leblanc_2

dzug1 wrote: »

Are you wanting to change cash, or transfer money between bank accounts?

I want to transfer from French bank account to the UK, but I want the best exchange rate, and this is not usually available from banks in general.

Leblanc_2

James1715 wrote: »

I can recommend foremost currency group (https://www.foremostcurrencygroup.co.uk), I generally transfer up to 50kEUR per year with them into GBP. The rate they offer is between 0.5 - 1.0% above the interbank forex rate.

Never had any problems, money arrives same day.

Usually the way they work is that you call around and obtain various rates from other brokers (Moneycorp, HiFx etc.), then give these figures to them and they will always beat the rate.

I tried calling them out of the blue, and they told me to call the others first, and then call back to discuss a rate with them. Its as much to look after their own interests, but Moneycorp and HiFx were not even willing to negotiate on rates below 100k, so from my point of view I was happy to be offered the best deal.

I believe it can take around 3 days to transfer money from a French bank, so it would be difficult to compare rates.

My concern is that in trying to get a better rate by using a FX curency company you could come a cropper as there is not the same protection as with conventional banks.

The Crown thread is obviously worrying.

jammin_2

OzForex, every time. Excellent rates, next day free transfers and can do everything online. Can't fault them.