Which Forex Company Do People use

Viewing 25 posts - 1 through 25 (of 25 total)
  • Which Forex Company Do People use
  • deserter
    Member

    Need to change some Gbp to cad{fair bit and already in Canada} and wondered if anyone has some suggestions before I sign up to a random on google because it has a flashy web page

    thanks in advance

    Premier Icon PePPeR
    Subscriber

    Transferwise are quick, with good rates.

    Premier Icon julians
    Subscriber

    Revolut gave a cracking rate when I exchange a few k of gbp into euro last year

    Premier Icon batfink
    Subscriber

    I use Transferwise pretty regularly – its good

    Premier Icon Potdog
    Subscriber

    I’ve been using CurrencyFair for a few years now. Seem pretty good.

    Got a £30 code too if you want it. Know it’s only £30 quid, but better in your pocket 🤣

    scuttler
    Member

    OFX for me. I’ve not used any others but no hassle for the three or four times I’ve used them.

    konagirl
    Member

    Yep, OFX, HiFX which are now part of xe.com or TransferWise, whichever is offering the best rate.

    They will ask for some ID (e.g copy of passport) for anti-fraud.

    Stoner
    Member

    Ive been a transferwise user for 4 yrs now. Excellent platform. Brilliantly simple as a regular user. Bang on the mid market rates (can’t get better) with very very low fees. Less than 0.5% to change £1k into € or CA$

    If you use my link, you get zero fee on £500 transfer.
    (I get naked a massage with bubble bath and round the world 1st class plane tickets, so fair’s fair) https://transferwise.com/u/markj3

    Very good phone app too. I also have 2x free accounts with them. One in GBP another in EUR so can hold funds there before changing at the best rate and sending out to my other accounts in France or UK.

    WillH
    Member

    Another +1 for TransferWise. Makes the whole process very easy, sets out costs and timeframes up front so you know what expect. It’s hard to believe everyone put up with slow and expense bank transfers for so long!

    Barclaycard.
    Stick it in a machine, get the best rate available anywhere, zero transfer fee.
    Transfer money in to pay it off, no interest.

    Afaik the best and cheapest way of getting cash

    hooli
    Member

    Another vote for revolut

    Premier Icon julians
    Subscriber

    Barclaycard.
    Stick it in a machine, get the best rate available anywhere, zero transfer fee.
    Transfer money in to pay it off, no interest.
    Afaik the best and cheapest way of getting cash

    hmmm,barclaycard say there is a 2,99% charge for each withdrawal, that doesnt sound too good to me

    http://help.barclaycard.co.uk/brochure/spending_transactions/use-card-abroad

    Premier Icon Dickyboy
    Subscriber

    Are transferwise good choice for large single transfers – executor to a will & need to send about £27k to Australia & France in near future.

    sweaman2
    Member

    I’ve used MoneyCorp previously for transferring funds from UK to CDN.  If you’ve never done it before you need to make sure you get all the relevant details from the receiving bank in Canada but suspect that’s the same for all companies.

    Stoner
    Member

    Dickyboy, yes transferwise is fine for large sums. Your limit is more likely to be at your bank end so you may need to do a couple of tranches. I’ve used it to acquire a couple of properties with transfers to theNotary’s account in France. As usual always best to check destination with a £1 transfer first.

    Premier Icon Dickyboy
    Subscriber

    Thanks stoner – I’ll check with recipients first but looks like a good option.

    sweaman2
    Member

    As per Stoner you might need to do multiple transfers (Barclays has or had a 10K per day limit) into a holding account with the FX company who will then transfer it all over in one go.  Despite doing tests there’s still a bit of sweating between the money leaving my UK account and it appearing in my CDN account.

    Premier Icon Greybeard
    Subscriber

    Currency Fair works well for me, no problems. Rates half way between buy and sell, 0.3% commission, £3 for the final transfer. No good for cash though, unless you have a bank account in the currency you’re transferring to.

    stick_man
    Member

    Currency wise. I wouldn’t give a Forex for anything else

    Transferwise for big amounts, Revolut for small/holiday spending.

    I’d love to go all in with R but after reading some of the issues users have with big transfers in their forum, they’ve some way to go.

    poolman
    Member

    Currencyfair here but i think their exchange rates are a slightly below the other p2ps. As said above you need an account in the other currency to get cash out.

    Premier Icon Dickyboy
    Subscriber

    Transferwise worked well for me (aside from my bank freezing my account due to suspicious activity) my sister set up a transferwise account and I was able to pay direct into that, whilst I set up a tf account which paid direct into my brothers euro bank, think it was under £100 to transfer £25k. Thanks all.

    globalti
    Member

    Bigger branches of ASDA do currency exchange at very good rates indeed.

    Premier Icon earl_brutus
    Subscriber

    caxton fx have been good for me the few times ive needed to pay someone overseas.

    Stoner
    Member

    good stuff DB.
    Banks are very twitchy these days unfortunately.
    An even if you try and give them a heads up before doing something abnormal they still freak out.

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