Post by Bunter on Dec 18th, 2014 at 11:59pm
http://www.moneysupermarket.com/current-accounts/hifx-money-transfers/
http://www.moneysupermarket.com/current-accounts/international-money-transfer/personal-transfers/
Most make their money from the exchange rate thus no charges over £5000. Watch the exchange rate as you could make/loose a lot if you exchange at the wrong time. Most will allow you to buy in advance Currency exchange companies quote you an exchange rate at a small margin from the ‘interbank rate’ – sometimes referred to as the ‘mid-market rate’ – which is the rate at which the banks deal in large amounts of, typically, £10 million or more.
The difference between the rates you are quoted and the interbank rate is known as the ‘spread’. The greater the ‘spread’ the greater the profit the currency company or bank will make and the worse deal you’ll get.
Typically, a specialist foreign exchange company will take a smaller ‘spread’ than the big banks.
Many currency providers also offer the promise of “zero commission”, but really this is a marketing device as the companies make the majority of their money by charging a bigger spread. Beware any company that charges you commission for your currency as it will already have taken some of you money via the spread.
I used HiFX some 8 years ago and it was free. They send the money to Madrid who in turn will send it to the Spanish Bank of your choice.No cash only debit card or direct transfer is allowed in the initial trade.Please try and make the transfer at the begining of the week as weekends can delay your plans.You have a personal trader at HiFX who will guide you through the various stages. You can shop around the various currecy transfer companies for a better given rate but these people have transfered over 100 billion so are very established in the currency market place. :)
On another slant re money, One of the best programmes to watch in the morning between 6am and 9am (UK time) is CNBC ( Squawk Box Europe) with Steve Sedgwick once you start watching you will be hooked. 8-)
A short video
https://www.youtube.com/watch?v=pHsiW72o3QU&index=18&list=PLaqf4I4NEUbnM417XewZO5netZHeZh2Lc
You can now breathe clean air in L'Aldea thanks to the bypass. 8-)
Tortosa_bull.jpg ( 9 KB | 137
Downloads )
http://www.moneysupermarket.com/current-accounts/international-money-transfer/personal-transfers/
Most make their money from the exchange rate thus no charges over £5000. Watch the exchange rate as you could make/loose a lot if you exchange at the wrong time. Most will allow you to buy in advance Currency exchange companies quote you an exchange rate at a small margin from the ‘interbank rate’ – sometimes referred to as the ‘mid-market rate’ – which is the rate at which the banks deal in large amounts of, typically, £10 million or more.
The difference between the rates you are quoted and the interbank rate is known as the ‘spread’. The greater the ‘spread’ the greater the profit the currency company or bank will make and the worse deal you’ll get.
Typically, a specialist foreign exchange company will take a smaller ‘spread’ than the big banks.
Many currency providers also offer the promise of “zero commission”, but really this is a marketing device as the companies make the majority of their money by charging a bigger spread. Beware any company that charges you commission for your currency as it will already have taken some of you money via the spread.
I used HiFX some 8 years ago and it was free. They send the money to Madrid who in turn will send it to the Spanish Bank of your choice.No cash only debit card or direct transfer is allowed in the initial trade.Please try and make the transfer at the begining of the week as weekends can delay your plans.You have a personal trader at HiFX who will guide you through the various stages. You can shop around the various currecy transfer companies for a better given rate but these people have transfered over 100 billion so are very established in the currency market place. :)
On another slant re money, One of the best programmes to watch in the morning between 6am and 9am (UK time) is CNBC ( Squawk Box Europe) with Steve Sedgwick once you start watching you will be hooked. 8-)
A short video
https://www.youtube.com/watch?v=pHsiW72o3QU&index=18&list=PLaqf4I4NEUbnM417XewZO5netZHeZh2Lc
You can now breathe clean air in L'Aldea thanks to the bypass. 8-)
Tortosa_bull.jpg ( 9 KB | 137
Downloads )