Social network site lets you 'swap' money free overseas with people - what's the URL?

CJSnet

Hi all, a few months ago on TV (I think it was BBC Click or something) I saw a 'Web 2.0' 'social networking' type site which claimed to be able to cut out the costs of transferring large sums of money overseas, by letting you find people who also want to buy or sell, based in your target country. Then it connects you both, and you do the transaction via the site.

Thing is I can't for the life of me find any trace of it in Google, even though I visited the site back then! :mad:

It had a short snappy name I think with an 'x' in it, like cex or cix of flix or any number of possibilities! Anyone know of it?

CJSnet

Don't worry, just found it at last:
https://www.fxaworld.com/currency-exchange/index.php

Told you it had an 'x' in it!

vanhalen2007

That has got bad idea written all over it, best bet is to stick with bank transfers or use Western Union

Simplastic

For the last 18 months I have been using FXAWorld.com which is a sort of currency auction. You usually get the interbank rate, which is the best rate available, and pay a very small commision, plus £10 SWIFT fee.

The first 12 months went swimmingly with FXA and I was very happy. However, the last 6 months their service has gone downhill and I have had to keep emailing reminders to make my SWIFT transfers. Last week I made a trade and they kept 'forgetting' to make the transfer and I had to email and telephone them 7 times before it finally got done. They never rang me back as promised. The whole transaction took 2 weeks! I am currently seeking some compensation from them as I ran out of cash because of them and endured a lot of stress.

This is a real shame as their concept and costs are fantastic. I am now reluctantly having to find a more expensive but hopefully more reliable Forex company.