Foreign Exchange Companies

[727Man]

Can anyone recommend a good Foreign Exchange company or have a good experience with sending funds to the UK?

And one that does not take five days and has good customer service.

I usually transfer funds bank to bank and the funds appear on the other side within a couple of hours.

I was just trying to get a better exchange rate, but in the end it was not worth the hassle.

[Capetonian]

It depends how much money you are sending. If it's a small amount then bank to bank is OK but they can't compete with the brokers on rates.

There are a number of dealers, currenciesdirect.com, hifx, etc. Just make sure you pick one which is AUTHORISED BY the FSA, and not just REGISTERED WITH!

[John21UK]

I've been using XE Trade (http://www.xe.com/) for a good year now. Clear/easy/up-to date and safe. Exchange rates are not too bad really.

[Chrissy.b]

Personally I like to use a FX comparison site like Currency Transfers | International Money Transfer Services (http://www.mycurrencytransfer.com/) as you can look at tons of sites at once which saves me trawling the net and doing it myself ;)
Also they only use FSA authorised/registered brokers which is important as it's kinda like a safety net for your money.
Whatever you do, I wouldn't advise using a bank as they're exchange rates are truly ridiculous! I guess they can do that as lots of people use them out of convenience... :S
Good luck :]
x

[gehenna]

727Man

If you are sending to the UK, there are 2 companies I use/have used.

Al Rostamani give a pretty good rate (negotiate with them at the time) but charge 45Dhs/transaction, and there will be about £8 taken away in transit; they can take up to 5 days, depending if the weekend intervenes.

Another is GCEN, a UK based company with a branch here. I transfer from my HSBC here to their account, and the money usually arrives within 3 days. Oh, if you are an EPC member they give you a marginally better rate.

Good luck .........