Foreign exchange rates

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LooseBoots
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Foreign exchange rates

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Post by LooseBoots »

I just wanted to advise members that since moving to Portugal we have had to use a foreign exchange company to convert my sterling into Euros on a regular basis as we do not have a sterling account in Portugal.

Normally i look on line at the live rates and get a quote from 3 companies but so far there is one company that consistently gets me better rates. I also get my Euros in my bank account in Portugal the same day with no transfer charge.

If anyone is interested in the details please either send me a PM or better still ( as i don't visit the forums as much ) please e.mail me on:
[email protected].

I would mention that I have a designated account manager , so I always speak to the same person each time.

I hope the moderators don't mind me posting this, just trying to be helpful.

Forgot to say they deal in Turkish Lire and all major currencies.
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Be nice to one another.
Reporting from Portugal

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Keithcaley
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Re: Foreign exchange rates

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Post by Keithcaley »

Hi Malcolm,

Did you see Erol's posts about using Revolut to exchange currencies?

Just interested in whether they offer better rates!

Could you send me details or post them on here for the benefit of others please? (request also emailed as instructed).

Best regards, Keith.

Mr Chinnery
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Re: Foreign exchange rates

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Post by Mr Chinnery »

Hi,
Transferwise is excellent, you will receive the bank rate I.e the price shown on fx.com.
Transferwise charge a small fee for example exchange £ 1000.00 into Euros the Fee is £4.29 if you use Bank Transfer
to Transferwise. If you use Apple Pay or debit card it will cost you an additional £2.00. I use the bank transfer method the money arrives in my Euro account just as quick.

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LooseBoots
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Re: Foreign exchange rates

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Post by LooseBoots »

Keith,
can you help
as usual kibkom i cont save text
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LooseBoots
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Re: Foreign exchange rates

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Post by LooseBoots »

The company we use is Foreign Currency Direct plc and my PERSONAL DEALER is Stephen Eakins.

His phone number is 01494725353 and his e.mail is [email protected].
~
They normally charge a handling fee of £15.00 for items under £50k but have e.mailed me to say if I recommend them they will make the first transaction FREE. If you quote my name or if you give me your e.mail address to give to them.

But check them out on line and contact Stephen , mention my name. You will NOT be disappointed.
~
Having said that they have consistently beaten , hands down, any other sites I have got a quote from and I have ALWAYS received my Euros the same day.

Kind Regarda
Malcolm aka LooseBoots
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Mr Chinnery
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Re: Foreign exchange rates

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Post by Mr Chinnery »

Loose boots,
Are you saying they charge £15 handling fee even for transferring £1000 to a sterling account ?

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Re: Foreign exchange rates

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Post by LooseBoots »

Mr Chinnery wrote:Loose boots,
Are you saying they charge £15 handling fee even for transferring £1000 to a sterling account ?
They are a foreign exchange company and as far as I know do not handle sterling to sterling. They would handle Turkish lire to TRNC.
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It may not be to everyones liking but my only income is my pension, so I try to last a couple of months then, as I live in Portugal and day to day dealings are in Euros I need my money in Euros.

So therefore i phone Stephen to get a rate, get my UK bank to pay them via chaps in the UK and I get my Euros in my Portuguese bank account the same day.

The same would apply for banks in the TRNC. You would contact them for a quote for sterling to Turkish lire , if agreed once you paid them the sterling they would transfer the Turkish Lire to your bank in TRNC.

I know when I banked in North Cyprus I used HSBC. The UK branch of HSBC used to transfer the Sterling to TRNC with no charge. But HSBC Girne used to charge for RECEIVING Sterling then converted at their rate.

Not sure what other banks charge.

Just trying to give you guys another option.......
Always look on the Bright side of life. Monty Python - Life of Brian.
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Re: Foreign exchange rates

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Post by Keithcaley »

Thanks for the info, Bootsie

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Re: Foreign exchange rates

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Post by Mr Chinnery »

Sorry I meant £ STG TO Euros

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Re: Foreign exchange rates

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Post by Mr Chinnery »

Loose boots,
My situation is similar to yours in that I transfer some of my pension from £ to €.
I use Transferwise Via their app, very simple and easy to use and for small transfers cheap - £ 4.29 Fee For £1000 To Euro.

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