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20/05/2009, 20:39 baypond Joined on 14/06/2007 Gers 32 and Kent Posts 512 Re: Best Money Transfer company  P2 wrote:  P2 wrote: He did state that sometimes when a big deal is going through they can tag on to it and offer a far higher rate. My thoughts are that the rate they first offer is low but pushed they can do a lot better. Paul Baypond that is why I added a sentence after what you have quoted from my post. However, my overall point was do not just accept what they offer BARTER Paul Sorry, I didn't mean to single you out, or criticize your post, but rather single out the FX brokers who are not afraid to spin a yarn if it helps them justify not quoting their best rate to begin with. Giles Life is too short to be small    Report

30/05/2009, 22:47 gitbash Joined on 20/05/2009 Farnborough UK, Somme? Posts 2 Re: Best Money Transfer company Hello everyone, This is my first (of many) posts on this forum. I couldn't see an introduction section, so I will introduce myself here. I am Terry, my wife is Nathalie; She is French but has lived in the UK for the last 20 years, we have 3 kids (10, 9 & 6). We are about to take the plunge and buy a property in the North (within striking distance of Calais). We envisage buying very soon and spending a few / several months making the property habitable, then Nathalie and the kids will move in permanently, but I will continue to live and work in the UK during the week, and commute at weekends. (I know it's a big drag, but it's the only way to make it happen). Anyway, to the subject matter: Does anyone here use a money transfer company called TorFX, or do you know if they are good/bad or indifferent? The reason I ask is that for some months I have been on their emailing list for market updates, etc, and I have found their info and advice very useful. For this reason, I feel almost morally obliged to use them. I will probably also sign up with a couple of the other transfer companies mentioned in this thread, I just wondered if TorFX were reputable? To a "money transfer virgin" it seems like a big risk paying many thousands of your hard-earned to a company you know little about; a bit of a leap of faith hoping that the euros will materialise at the other end of the virtual tunnel!   Any advice or opinions would be most welcome. I have been glued to this great forum for a couple of weeks now and I find it extremely informative and generally very friendly. You will no doubt see my name pop up in several other threads in the next weeks and months. Thanks once again for all the useful information. TTFN Terry    Report

31/05/2009, 8:11 Cat Joined on 21/01/2005 ------- Forum Moderator ------- Lot Posts 4,370 Re: Best Money Transfer company You can find reviews of the company you mention here gitbash http://www.reviewcentre.com/reviews110806.html   Cathy Always keep your words soft and sweet, just in case you have to eat them.    Report

31/05/2009, 8:18 Clair Joined on 23/08/2004 Real Virtual French Person & Moderator - Lot (46) Posts 11,500 Re: Best Money Transfer company Hello Gitbash Welcome to the forum. In answer to your question about TorFX, as far as I am aware, it has never been mentioned on the forum before. Speaking personally, I would not feel obliged to use them simply because you "have been on their emailing list for market updates, etc, and have found their info and advice very useful". See some of the following threads for suggestions of what to look for: http://www.completefrance.com/cs/forums/1653773/ShowPost.aspx http://www.completefrance.com/cs/forums/1623490/ShowPost.aspx http://www.completefrance.com/cs/forums/1239208/ShowPost.aspx Clair The mind is its own place, and in itself can make a Heaven of Hell, a Hell of Heaven. Paradise Lost - John Milton    Report

31/05/2009, 16:00 Nearly Retired Joined on 23/07/2005 Posts 325 Re: Best Money Transfer company In the past I have used a couple of these types of firms to transfer the house buying funds (in two tranches) and then something like a €30,000 top up for refurbishment expenses. What I didn't know then is that they are all unregulated. If they go bust with your money or the directors just disappear - so does your money. Quite a few lesser known firms have already caused anguish for poor souls transferring money to places like Iran and Kuwait. Taking into account today's uncertain world I might just stick with a regulated bank next time and pay the premium for peace of mind - I've lost too much money elsewhere already!.    Report

31/05/2009, 17:34 Un autre Gallois Joined on 22/02/2009 Aude Posts 22 Re: Best Money Transfer company Never used this company, but am registered with them for future transfers, picked them up at a Siddalls seminar; CaxtonFS who are authorised & regulated by the FSA. Before everyone chortles "registered with the FSA, maybe the kiss of death", at least there is some regulation with this firm which appears to be non existant with a lot of the others. I to have heard of people losing money with cowboy brokers, but I shall use Caxton FX for my next transfer - nothing to do with Siddalls!!    Report

31/05/2009, 19:13 fromage Joined on 28/08/2008 Dorset & Vienne (86) Posts 15 Re: Best Money Transfer company When we bought our house a couple of years ago, we spent several weeks comparing HIFX and First Direct, getting quotes from each at practically the same time every 2-3 days.  Surprisingly, First Direct was better so that is who we used.  It's certainly worth running comparisons between a couple of companies (and a "proper" bank) if you've got the time to do so.     Report

31/05/2009, 19:39 Nearly Retired Joined on 23/07/2005 Posts 325 Re: Best Money Transfer company This site is worth a look - it gives a good summary about who does what:  http://www.moneysavingexpert.com/banking/foreign-currency-exchange    Report

31/05/2009, 19:44 Nearly Retired Joined on 23/07/2005 Posts 325 Re: Best Money Transfer company I copied this passage from the web site: Warning, FX brokers are unregulated … Unlike banks, currency exchange businesses don't have to be regulated by the FSA so there’s always the possibility of problems. Yet the big established businesses tend to have good reputations and as they pay better rates they should be the best bet, though there are NO guarantees. Knowing this, these companies work hard to prove their stability, and a little research should bear that out. HiFX, for example, stores your money in a Barclays account while it’s in transit before it hits your account overseas, to ensure it is safe.    Report

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