I was just looking over the posts and in terms of regulation from what i am aware of personal FX Brokerage isn't regulated by the FSA, however your funds should be safe, just make sure all money is held in client trust accouts. Every broker that i have spoken to does, they are also regulated by HMRC as a money broker.
There are some brokers out there who are owned by FSA regulated parent companies, this should be able to give you more peace of mind. I had used HIFX for years, but found their service slipping, so i started to look around at other options. I think there have almost become too successful! The company i use now is called Cornhill FX, they are smaller so the service is better as are their rates.
There are so many brokers out there id recommend to anyone to speak to a few and go with who you feel comfortable with.
on a side note, can anyone recommend a good removals company for a small amount of goods (large van) to be taken to the Languedoc region?
Joined on 09/01/2005
West Yorkshire and Orne
Posts 67
Re: Best Money Transfer company
Most of the posts relate to bringing money into France. We are in the process of selling our house in France and will want to repatriate the funds. Has anyone any experience of this and any advice?
Tony, i have only sent funds out to France, but i have know a couple of people that have sold and the process is just the same, any broker should be able to do it at a much better rate than you bank, the people i know got the notaire to pay it stright into their brokers account, but that is up to you, you might want it to your account first, then you transfer it to your broker yourself.
Have you spoken to any brokers yet, i can recommend speaking to Cornhill FX, I switched to them recently and they always let me know what is happenign in the market, funds always get to me same day and the rate is always strong. As I and a few others have mentioned before it is worth speaking to a couple of brokers to make sure you are getting the best deal!!!
Hi am im new to posting here, although i read the forums for advice. i just want to thank all the posts for advice on currency trasfers, i took your advice and spoke to a few, I ended up using Cornhill FX today and couldnt believe how much i saved rather than using my bank! i dread to think how much they have mode out of me over the years
I am one week away from our move to Ploerdut.I used Currency Direct for the deposit and I will be using them again for the balance to the Notaire.We have found them to be more than helpful.
Having recently just used them, it's got to be 4X Currency Corporation for me, the whole operation is internet based, although their support team are very helpful on the telephone. You just sit there watching the rate fluctuate up and down, and hit the button when you are happy with the rate. Transactions upto £10,000 can be paid for via BACS transfer, anything above has to be a CHAPS transfer. Very tight spreads compared to telephone based operations. You have the option to spot or forward fix, the same as a telephone based company.
The only drawback, and I guess it is the same with all other FX companies, if you do not open an account before leaving the UK, you have to send them a certified passport to set up your account.