Money transfer companies

[Matt's Dad]

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?

 

[camerafodder]

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.

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'.

 

[Matt's Dad]

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.

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'.

Thanks, it is appreciated! 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

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.

 

[camerafodder]

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.

 

[C240Sport97]

try also City Forex a specialist provider of retail and commercial, foreign exchange, services, Commission free foreign currency banknotes and travellers cheques, Worldwide Money Transfers, Foreign Currency Drafts , City of London , Canary Wharf, travel money

I use them for $, Euros etc and their rates are always excellent.

they also have a money transfer service for flat fee.

 

[lil.smartie]

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

Kate

 

[AMG-Al]

+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.

 

[Tan]

I know a very good company called Currency solutions, UK Best Currency Exchange Rates & Transfer Specialist| Online Quote, they are FSA registered, let me know if your interested and I can put you in touch with a very nice chap called Gary that I know there.

 

[Matt's Dad]

I know a very good company called Currency solutions, UK Best Currency Exchange Rates & Transfer Specialist| Online Quote, they are FSA registered, let me know if your interested and I can put you in touch with a very nice chap called Gary that I know there.

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


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!

 

[mapleleaf]

I use HiFx for regular and ad hoc transfers UK to Canada - good service, excellant ex rates and they refund any charges imposed by the receiving bank Foreign Exchange, Currency Exchange & International Money Transfer Specialists | HiFX plc

 

[chrisd107]

I use World First - used them a couple of times and had good service.

 

[Matt's Dad]

Thanks for the help 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

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.