Money transfer companies

Discussion in 'OT (OFF Topic) Forums' started by Matt's Dad, Nov 16, 2010.

  1. Matt's Dad

    Matt's Dad Hardcore MB Enthusiast

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    Has anyone had dealings with money transfer compaines? I will be sending about £25k to America within the next couple of weeks, and have seen quite a few companies offering better exchange rates than the banks, which would save me about £500 - But, I don't know if it's safe, and I wonder if I should just accept a lower rate and use the security of the bank?
     
  2. camerafodder

    camerafodder Hardcore MB Enthusiast

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    I buy a lot of equipment from the States and South Africa the companies I've used are:

    Moneycorp | UK's leading foreign exchange specialist
    Travelex World Wide Money

    I have transferred similar amounts of cash to the sum you mention and both the above companies rates have slaughtered the banks. :thumb:

    You'll probably have to fill in anti money laundering forms etc... for that amount of cash too. Bit of a bore but it can take time so be prepared to wait for 'approval'.
     
    Last edited: Nov 17, 2010
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  3. OP
    OP
    Matt's Dad

    Matt's Dad Hardcore MB Enthusiast

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    Thanks, it is appreciated!:cool: Moneycorp was one that we had been looking at, but I hadn't seen Travelex, so will have a look. I think the others that come to mind were Hifx, and World First - but if you've used Moneycorp, and the money got there safely, that'll do for me:thumb:

    Did it take long for the money to arrive, after it had been transfered to the company?

    My local bank negotiated a really good rate last time, but this time they don't seem to want to help.
     
  4. camerafodder

    camerafodder Hardcore MB Enthusiast

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    Speed depends on the package you go for but either of those companies you can trust no problem. The bet deals for me always came from Travelex but in truth thers's not much between them.
     
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  5. C240Sport97

    C240Sport97 MB Club Veteran

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  6. lil.smartie

    lil.smartie Hardcore MB Enthusiast

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    I use fairfx for paying our bills in the US, think they now do money transfers too.

    Kate
     
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  7. AMG-Al

    AMG-Al Hardcore MB Enthusiast

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    +1 for Moneycorp.

    Did some fairly big 1 off transfers and still use them for regular monthly transfers, currently to Spain.

    Fair rates and not too excessive charges either.
     
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  8. Tan

    Tan Hardcore MB Enthusiast

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  9. OP
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    Matt's Dad

    Matt's Dad Hardcore MB Enthusiast

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    Thanks for the info, I'll have a look at their site:thumb:


    I've now set up an account with Moneycorp, as they seemed quite helpful, and the process appears to be quite simple - but I haven't sent them the money just yet!
     
  10. mapleleaf

    mapleleaf Hardcore MB Enthusiast

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  11. chrisd107

    chrisd107 New Member

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    I use World First - used them a couple of times and had good service.
     
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  12. OP
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    Matt's Dad

    Matt's Dad Hardcore MB Enthusiast

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    Thanks for the help:thumb: I decided to try Moneycorp - there wasn't much to choose between them and HiFX, but Moneycorp's system seems easy to use and ideal for someone like me, that hasn't done this before:eek:

    I've set the exchange rate that they will only release funds to the dealer in America, which is handy, as I don't have to keep checking the rate, I can just leave it and hopefully it will go soonish when the rate is what I want.
     
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