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07/07/2008, 13:42 Nearly Retired Joined on 23/07/2005 Posts 296 Re: Money transfers DerekJ's good experiences with 4X Currency Corporation Plc (the internet company where the rate is flickering up and down on the screen before your very eyes) were good enough for me and so I took the plunge. As a help to anyone changing money here are the facts: I recently changed £16000 into Euros at a rate of 1.2561 when the rate shown on the BBC Business News website was 1.263 - a margin of 0.75 cents. There was no extra charge by 4X, but my HSBC bank wanted £20 for a Chaps transfer and Credit Agricole charged me €2.55 to receive it into my current account. I made the transfer at my UK branch on a Thursday and the amount in Euros was credited to my french account on the following Monday. I guess it would have been quicker but for the intervening weekend. I have no connection with 4X other than being a contented first time customer and ask you not to take these comment as a recommendation - they just reflect my happy experience.    Report

07/07/2008, 13:47 cooperlola Joined on 05/05/2006 72 - Sarthe - home of les 24 heures du Mans Posts 6,440 Re: Money transfers Funnily enough, I've just had a thing from CA Britline offering free transfers into Britline accounts for money received in £s.  I quote: "0% FX commission + no handling fee  at daily commercial rate."  It's a three month offer only but might interest some? Healthcare Issues Site    Report

07/07/2008, 18:10 Bones Joined on 23/08/2004 Posts 425 Re: Money transfers My mother is sending me over a couple of grand (or so) soon. For small amounts she uses Western Union (thought that would be the cheapest?). She's with Natwest and I'm with La Poste. How much would we save by using a company? About 2 Euros? I always thought that it took a couple of weeks to transfer money over to a French account (just via the banks themselves -Brit to French)? I was surprised to read some of the comments on how quick the transfer was when using a company.    Report

07/07/2008, 18:36 suein56 Joined on 23/08/2004 Southern Morbihan (56) Posts 1,250 Re: Money transfers  Bones wrote: I was surprised to read some of the comments on how quick the transfer was when using a company. I have used First Direct frequently in the past: I ring them first thing in the morning, agree the amount to be transferred and the rate; £21 charge by FD, and the euros are in our account with Banque Populaire Atlantique the same afternoon - and the rate is usually excellent, definitely on a par with currency companies or even better; but so much faster. I really do not like losing sight of £14000+ for too long; hours are OK, days I find worrying. Sue Computing - it's another world    Report

07/07/2008, 22:15 Judith Joined on 01/02/2006 Posts 296 Re: Money transfers  spg wrote: I have used First Direct frequently in the past: I ring them first thing in the morning, agree the amount to be transferred and the rate; £21 charge by FD, and the euros are in our account with Banque Populaire Atlantique the same afternoon - and the rate is usually excellent, definitely on a par with currency companies or even better; but so much faster. I really do not like losing sight of £14000+ for too long; hours are OK, days I find worrying. Sue Sue, I so agree, when I used FD it was as you say, quick.  When I investigated using a broker firstly we had to get the money (cheque) to them, it had to clear before they would do anything.  I would have lost far more than the £21 FD charged, and moreover I knew and had reason to trust FD. However, what is now of more concern to me (and I'm sure to all on this forum) is the exchange rate: I will be wanting to transfer large amounts of savings soon - the million dollar question is (and no - I'm not expecting an anwer to this one!) when to do it .......  O how I wish for that proverbial crystal ball just now!! Judith ex W1 and now in the Aude    Report

08/07/2008, 13:18 Bones Joined on 23/08/2004 Posts 425 Re: Money transfers "I really do not like losing sight of £14000+ for too long; hours are OK, days I find worrying." ----------------------------- Ha ha! Squeeky bum time I think Alex Ferguson calls it? Cheers for the info; looks like I've imagined the wait times. We'll see what Natwest and La Poste have to say then. (I worry that La Poste will charge something at my end - they're funny like that)!    Report

08/07/2008, 13:49 suein56 Joined on 23/08/2004 Southern Morbihan (56) Posts 1,250 Re: Money transfers  Bones wrote: "I really do not like losing sight of £14000+ for too long; hours are OK, days I find worrying." ----------------------------- Cheers for the info; looks like I've imagined the wait times. In general I think matters have improved hugely in recent years; in particular the French bank the money is being sent to can have some bearing, I understand, on the speed of arrival. I should be interested to hear how your transfer to La Poste from the UK fares as we have a La P account too. Sue   Computing - it's another world    Report

22/07/2008, 10:04 Martinwatkins Joined on 23/08/2004 W Devon/NE Perigord Posts 1,083 Re: Money transfers Just to add my thanks for this very useful thread,  I've just registered with 4X Currency,   and they very kindly and quickly rang me (in France) to check that their documentation would be forwarded from our English address.   Very efficient I must say. Much better than the lot I registered with (but never used) somewhere near Marble Arch/Hyde Park,  staffed by very charming Australians,  who seemed however incapable of returning calls or sending out any sort of documentation to confirm my registration had been successful.   My view was that if they appeared as sloppy as that for registration then I wouldn't like to trust them with money,   particularly if anything went wrong. Much as I regret an exchange rate of only €1.25 to the £,  I'm becoming increasingly gloomy about our prospects in the UK under a government who is again tampering with its so-called Golden Rule on borrowing,  and who may well I suspect again change the inflation targets to suit their profligacy and mismanagement.   I'm sorry to sound political but I'm truly depressed at the way things seem to be going and the spineless and ill-prepared response from our leaders..... Seems to me it's better to save some funds from impending disaster,   even at €1.25.    Report

22/07/2008, 10:31 sweet 17 Joined on 05/08/2006 charente maritime Posts 2,965 Re: Money transfers You make some good points, Martin. I am thinking of doing the same.  In fact, I am thinking of speeding the buying of another house in France and then, even if I don't sell my own house straightaway, I'll have some more money invested in euros. Just needing to be prudent about where I buy and at what price, of course!    Report

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France Forum » Legal and Finan... » French Finance » Money transfers

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