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Transferring currencies, setting rate
moneytroll
Posts: 235 Forumite
I used to use Currencyfair quite a lot and it was very handy. You could set your own rate and when it's hit, the money would transfer. They have since changed their policies where rate setting is not possible anymore and also you the rates aren't that good anymore.
Does anyone know of a good alternative? I basically transfer into GBP from mostly main currencies and wondered what people use? I know some places like Currencies Direct etc exist which seem to give a pretty good rate but the rate setting is not possible.
Thanks!
Does anyone know of a good alternative? I basically transfer into GBP from mostly main currencies and wondered what people use? I know some places like Currencies Direct etc exist which seem to give a pretty good rate but the rate setting is not possible.
Thanks!
0
Comments
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Wise offer what they call "Auto Conversions". Have not used that personally though.
https://wise.com/help/articles/0QO88oPwfcCqgAX1fvN6D/what-are-auto-conversions
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Sounds like the thing! Thanks! Can you keep money in different currencies with wise (until the rate is hit) or do they force you to transfer after a while? That was the problem with Currnecyfair: suddenly they decided that you can't keep your money with them. I guess something to do with regulations: it becomes too similar like a bank.0
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With Wise you can leave the cash in different currencies indefinitely. Note, there is no FSCS protection. But I believe that is also true for Currencyfair?I’m a Forum Ambassador and I support the Forum Team on the Credit Cards, Savings & investments, and Budgeting & Bank Accounts boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0
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