Online currency exchange problem

[mogs]

I just wondered if anyone had tried to transfer money from a UK bank account (in my case Nat West) to any of the online currency banks, since the referendum?

I ask because today I tried to set up an exchange into a new account with Caxton FX but Nat West wouldn't let me. I telephoned them and they tried to do it but the young man I had spoken to says it's possible that Caxton's account might be suspended - perhaps because of the Brexit. He said that Nat West weren't allowing any currency exchange at the moment, which sounded a bit odd.

I also telephoned Caxton who double checked that I had the correct account number and sort code, which I did but they suggested it was a problem with NW.

Frustrating and going around in circles.

[PaulT]

Would have thought it was the volatility of the currency fluctuations - the rate seems to be continually falling.

Hindsight is a wonderful thing but it seemed to me that it was going the Leave way so I transferred money before the referendum.

[Cathar Tours]

Rumour has it, like in the Daily Mail, that some are not able to draw cash out of machines in Euroland with their UK debit/credit card because of these fluctuations. I always thought the banks set the rate for the day but it appears not.

[Chancer]

[quote user="Cathar Tours"]Rumour has it, like in the Daily Mail, that some are not able to draw cash out of machines in Euroland with their UK debit/credit card [/quote]

 

Something that they very soon may have to get used to!

[PaulT]

Certainly my bank bases it on Visa rates.

[mogs]

I've managed to make the transfer via Currency Fair without any problems, so despite Caxton being a better exchange rate, they'll be losing customers if this problem continues.

[minnie]

Glad you've managed to make the transfer at least....