US ($) Currency Thread 1 (closed - use thread 2)

spugzbunny

Hello!

My friend is going away in the new year and would be buying dollars in January. She want's to know if she should buy now or wait the 6/7 weeks until she goes? My MSE is more centered around shopping and old style not exchange rates!! Can any of you lovely people tell me if she should buy now or hang on and hope the rate doesn't drop further/will rise?

Any help is massively appreciated as always!!

xx

k-hkr

Hi,

Judging from what has been said on here and the press recently, the consensus of opinion seems to be that the pound will fall further ($1.20-$1.30 has been mentioned!) before picking up. Don`t know WHEN it will be likely to pick up tho and if it will pick up to even the rates they are now.

I am in the same boat with £3000 to change for hols next April. Have already had to add £500 plus to get the same amount of $ as I could of got a few months ago - isn`t hindsight a wonderful thing! - My totally amateur opinion is to get them now unless you can afford to gamble that the rates will drop and then pick up enough to be better that they are now!

I am buying them now at future prices and getting $1.53 instead of $1.47. The further ahead you buy the better the rate. Use the tool at the start of this thread to see who offers the best rates and who does the future prices option. Travel Money Services do as well as Crown (web sites look the same so they are maybe the same company). Hope this helps a little.

k-hkr

I have just bought £3000 worth of US $ from Crown at $1.6005!!

They have some cancelled futures contracts so are selling this currency at great prices right now (till 30/11)

https://www.crowncurrencyexchange.com/content/cancelled-currency-contracts.asp

or use the tool on 1st page of thread, go to Crown site and just above the grid for future prices see banner with `grab a bargain`

FEvans

good price for february 2009

SimbaSimon

k-hkr wrote: »

I have just bought £3000 worth of US $ from Crown at $1.6005!!

They have some cancelled futures contracts so are selling this currency at great prices right now (till 30/11)

https://www.crowncurrencyexchange.com/content/cancelled-currency-contracts.asp

or use the tool on 1st page of thread, go to Crown site and just above the grid for future prices see banner with `grab a bargain`

Has anyone used these before? Bit weary of using a site I've never heard of before but the rates are pretty good for Late Jan/Early Feb and least I'd know the rate was half decent if I brought some now.

I take it payment is taken straight away? Hmmm

k-hkr

Lots of people buy using future contracts. The site is listed at the start of this thread using the tool for buying at the best rates and I have heard of them so no worries there I don`t think. Payment is by bank transfer or cheque but is straight away in that you can`t wait till Feb to pay.

Don`t think it is anything dodgy at all. Just a gamble by us that the rates won`t be better than that come February. Do you think they will be? I don`t.

Having said all that, I have just read on another forum that these companies are not bonded in any way so if they go bust you lose your money!! Don`t know if this is true or not. Can anyone advise??

FEvans

they are not bonded but have been going strong since 2004.

they have my money as well so fingers crossed

steveo3002

you mention theyre not bonded...if you purchase with a credit card will it be covered?

and if i used a credit card , will i be charged upon ordering or just before dispatch

Baz_2

steveo3002 wrote: »

you mention theyre not bonded...if you purchase with a credit card will it be covered?

and if i used a credit card , will i be charged upon ordering or just before dispatch

I dont think they let you pay using a credit card, BACS only I think.

steveo3002

okay thanks