Large International Money Transfers Discussion area

buglawton

It seems that the saving by using such a broker on a large transaction can be about 1%. Does this make it worth the risk? If a relatively small currency broker gets into trouble or is affected by fraud by one of it's directors, I can't see the govt. stepping in as it did with Northern Rock. Yes these brokers have to be registered and are regulated but it's up to the punter to check out these little known companies.

twhill

I have a savings account in the U..S. into which a small pension paid to me by the U.S. Government. I also use this for transferring funds from my Account in the Nationwide Bldg Soc. I have made these transfers on threee occasions once to bring funds held in my U.S. account to my Nationwide account; twice to transfer funds from here in Britian to the U.S. there was a standard charge for these transfers of £20. the amounts involved were $10,000 : £5000 : and £2000 the transfer took about three days to complete.

twhill

I have a savings account in the U..S. into which a small pension paid to me by the U.S. Government. I also use this for transferring funds from my Account in the Nationwide Bldg Soc. I have made these transfers on threee occasions once to bring funds held in my U.S. account to my Nationwide account; twice to transfer funds from here in Britian to the U.S. there was a standard charge for these transfers of £20. the amounts involved were $10,000 : £5000 : and £2000 the transfer took about three days to complete.

Yahwehashera

I used a company calledc Capital IFX for sending my funds to the US. I send about £3000 monthly. They charge me £15 but that uncludes the $ 20 that the US banks charge for receiveing funds. I think their website is www.capitalifx.com hope this helps

Yahwehashera

sorry thought I had better write this with correct spelling:

I used a company called Capital IFX for sending my funds to the US. I send about £3000 monthly. They charged me £15 but that included the $ 20 that the US banks charge for receiveing funds. I think their website is www.capitalifx.com hope this helps.

Also as an afterthought, they informed me that I could buy a years worth of forward contracts. So when the dollar was at 2.10 to the pound I purchased £40,000 worth of forward contracts after they recommended me to do so. Thats saved me about £3000.

toothwiz

Does any one know the cheapest way of sending small amounts of money to india? Western union and moneygram are so expensive. I only need to send £40!

buglawton

You could try Xoom, I used it paying an Indian subcontractor a year or two ago.

Fee for $80 is claimed to be around $5 (read the small print too!). If anyone has good experience of this co, can they add a comment?

https://www.xoom.com/fees?disb=deposit&co=IN&amount=80.00

nannu02

I need to transfer money from UK (pounds) to US (dollars) a substantial amount approx 50,000 pounds . Any suggestions or idea or the best way to do so

buglawton

I noticed yesterday that the buy/sell spread at M&S currency counter was over 10% (big sign saying "we charge no commission" - big deal!).

So the profit is in the spread. What are these specialist currency co's offering in terms of spread?

D_e_n_i_s_e

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