Changing pounds to use in future

neil324

Going abroad later this year. Now my feeling is sterling is going to fall by then. I remember reading that there are companies online where you can change your currency to use at a later date. Anyone point in the right direction or am i going mad:D

realaledrinker

www.fairfx.com

neil324

realaledrinker wrote: »

www.fairfx.com

Thanks but the exchange rates are terrible on their would be better waiting and hoping

Baldur

Don't know how they compare but it may be worth taking a look at http://www.crowncurrencyexchange.com/

adecor

I've used these in the past http://www.hifx.co.uk/personal/money_transfers/your_options.aspx

There are quite a few different companies that offer this service & it's always a good idea to get more than 1 quote (there's a few threads on here relating to fx that mention some of the more renown dealers). You should also take into account any charges that may be involved & ask that they explain these in full to you. Don't forget that you won't be earning any interest on this either.

Most importantly, this is highly speculative so please ensure you choose an fx dealer with a solid background to minimise any risk should they go t**s up.

bitsandpieces

also depends where you're heading - e.g. Citibank let you open a $US account and keep money (earning a little interest) in that currency...

neil324

Thai baht, not bothered about the interest, just looking to secure a good rate. But all sites seem to give you a poor exchange rate. Im used to using my Nationwide card abroad getting corporate rates so maybe been spoiled in the past.
Think ill just open an account next time i return, so can move funds at a later date if needed.

tradetime

Not sure I'd worry too much about the Thai Baht appreciating too strongly as the Bank of Thailand seems to be fighting to prop the baht up at the moment.
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSBKK30667420080620
Of course that trend may change before you go there.

neil324

tradetime wrote: »

Not sure I'd worry too much about the Thai Baht appreciating too strongly as the Bank of Thailand seems to be fighting to prop the baht up at the moment.
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSBKK30667420080620
Of course that trend may change before you go there.

Of course your correct and Sterling has gained ground agaisnt the Baht in the last month, but my confidence in Sterling is about 0%. Things here are going to unwind big time. It seems to me the BOE will accept a fall in Sterling.

Before this comeback Sterling had lost about 12% of its value since December 2007

tradetime

neil324 wrote: »

Of course your correct and Sterling has gained ground agaisnt the Baht in the last month, but my confidence in Sterling is about 0%. Things here are going to unwind big time. It seems to me the BOE will accept a fall in Sterling.

Wouldn't be prepared to argue with you on that one if you're simply trying to protect against a fall in the pound you could buy something like Euro denominated TC's but you will lose the interest that you money would be gaining wherever it is now

tradetime

Might get an answer asking on one of their expat forums such as
http://www.thaivisa.com/forum/