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Anyone know about Escrow????HELP!!

Salty_dog
Salty_dog Posts: 1 Newbie
in Budgeting & bank accounts
I just sold my boat in a foreign country, the buyers cash has gone into my brokers Escrow account. Now I must have the funds transferred to the UK but if I have it sent to my personal bank account the bank will give me a terrible exchange rate.....so to where could I have the funds sent that would give a better, fairer rate? I don't see anywhere on this forum that deals with this subject....can ANYONE point me in the right direction please? Here's hoping!

Comments

  • colsten
    colsten Posts: 17,596 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    There's dozens of posts about currency transfer.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    What currency are the funds in?
    What rate have your bank quoted you?

    You did ask for the foreign exchange rate ? Not just ask what 's the rate for dollars or euros etc for which they would have given you the travel cash rate.
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    fxcompared.com
    mucurrencytransfer.com
  • agrinnall
    agrinnall Posts: 23,344 Forumite
    10,000 Posts Combo Breaker
    As pointed out there are many alternatives for transferring funds internationally. However, what you need to find out first is whether your broker will allow any of them to be used. The escrow account is theirs, and they may have rules in place that specify how transfers out may be done.
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