Has anyone used Moneycorp or Caxton FX lately?

[mint]

I seem to remember reading somewhere (perhaps in an email) that one or other or both of these organisations has/have introduced a transfer fee recently?

Does anyone know/have experience of this?

Guess it's time to change some dosh to pay the impôts when the bill arrives [:(]

[Visky]

Since you have had no response so far, I thought I'd just post to say I've used all of them in the past (phoning round to get best rate, playing one off against another etc) but now wouldn't bother with anyone but CurrencyFair.  

Once you've set up an account,  you can transfer in and out online and just click to deal when the rate suits you - it's instant.  There is a charge of €3 to transfer out to your Bank,  but I have found that is more than repaid by the extremely keen exchange rates.

Just changed £ 500 this afternoon and got 1.245  (€ 622.50)

http://www.currencyfair.com

Hope his helps - let me know if you'd like any further info.

Visky

[mint]

Visky, what an impressive rate.  Yes, I think I'll have a close look.  Sounds like even a dummy like me could manage that.

Also, saves all the faff about ringing up and having to speak to a human!

[Kong]

I can second Visky's suggestion. I have used Caxton FX and Currencyfair and Currencyfair are consistently the better even allowing for the €3 fee, so long as you are buying a couple of hundred euros plus.

Kong  

[Chancer]

I dont have experience of the others as only recently started transferring money but can attest that Currencyfair are great!

And if you do need to speak to a human the guy in the UK office is really pleasant.

[mint]

As you might expect, Chance, me and technological apparatus are mutually antipathetic.

Have got as far as registration with Currency Fair this evening (took 2 goes when screen went blank twice in the midst of filling in details), then got as far as uploading passport details.  Then all came to a stop.

Scanner playing up, computer telling me there was no connection, etc.  switched it on, switched it off, switched it on, then off, then on....

Finally, managed to scan recent bank statement and utility bill but this time couldn't upload on the CF site.

As last resort, sent them an email attaching above said documents so will wait and see if I am "admitted to the club".

Am away all day tomorrow but might yet be back to ask you further questions.

Thanks

PS  Where is that animated graphic that Coops posted earlier today with someone repeatedly banging their head on the computer?  Yes, that would be me [+o(] 

[idun]

I tried to call Currency Fair this morning and their phones are off. This would worry me a lot if I had money with them.

 

Does anyone know if this is  'normal' for them to be unavailable?

[Chancer]

Did you not even get the answerphone message?

I think the bulk of the staff are on the Irlande number, when I call the one in Kent it has always been the same guy that answered so he could be indisposed, they usually respond quickly to E mails, that said I have always gotten through on the phone except for when I have forgotten UK bank holidays.

[idun]

The phone didn't even ring, it was like a dead line.

[Théière]

Just telephoned straight through to Redhill number and had a helpful chat with the Chap there.

The phone number didn't work for Ireland the first time but was fine the second time and again a conversation was had with the staff there too.

[idun]

I didn't just ring once. I rang at least six times this morning. I had a few calls to make and kept going back to that number...... the one on the web page...... in case there is another I don't know of.

[mint]

Well, here I am, back from the other house, having spent a very pleasant time there and packing up yet more books and linen.

I went to my email box as soon as I got back and there was a message to say that they HAD received all my documents and that my account is now active. 

Vicky and Chance, any astuce as to how best to get the best rate at the time you want?  Haven't really looked at the site in detail but all help will be gratefully received.

I owe the neighbour in the Charente Maritime a few hundred euros for putting up a fence and there's bound to be a bill from the tax bods so I want to change some money soon and hope the rate is favourable.

Might be helpful if Teapot and Chance post some numbers here.  Might help poor id as well?

[mint]

Here come the first questions of possibly several!

What's the difference between Exchange by Quick Trade or Exchange by Marketplace

How do you transfer money to CF

How do you keep money in your CF account ready to use when you wish

I have seen a very good rate a few minutes ago just trying out the site

If rate holds good would like to make a transfer to see how it all works

Thank you in advance for your many and useful answers!!!

[idun]

I tried late this afternoon and got the answer machine, left a message and a gentleman got straight back to me. He was very helpful, answered all my questions.

I am still slightly concerned about the good exchange rates though. Still feel a bit too good to be true, so I will have to look into it further.

[Chancer]

I am still a bit unsure how it all works having only transferred twice and each time having phoned for advice, which was excellent.

You have to scan or fax a copy of your ID/passport to them, i cocked things up by blocking their E-mail address as I thought it was spam so didnt get the green light from them, I think that you have to register your UK bank with them in case you return funds, they certainly need RIB's for any destination account.

You transfer money to them by using a normal internet banking transfer which for under £1000 or maybe £2000 is instant, you must also click something on ther website to tell them to expect the funds or it will sit in limbo, I forgot and had to call them but it was swiftly resolved.

Then its a simple matter to transfer funds either at the spot rate they give you which is very good, you can hold out for a higher rate, you specify what you want but they will only hold the order for one day IIRC so no point holding for €1.50 just at the moment.

My money has always appeared instantly in my French bank account, checking at an ATM but it takes the internet banking till te next day to show the funds, the fee from currencyfair is £3 and credit agricole charges me nothing to recieve it, given that I have free banking with them and a free mastercard I now finally have a good solution to the charges on the NW flex account.

it may sound strange but it really is a pleasure to use a service from people who are nice to do business with, I have been here too long and had forgotten all about the feeling, its why in my past businesses some suppliers got my trade and others only in extremis, here pretty much everyone that I deal with I do so begrudgingly.

Dont be frightened of currencyfair, once its up and running it happens really fast and you are not left wondering.

The recommendation was another great one from this and another forum, cant remember who it was but thankyou all the same.

[idun]

Ofcourse we are always doing things the other way round, and we will be transferring euros from France to the UK, apparently via Ireland......... which I'll also have to look into, as that is not something I know anything about, irish regulations.

For us it looks like it could take three or four days from A-B, especially as our french bank is not, IMO, doing their job at the moment when they should be transferring money out of France.

[mint]

In case this is of help to anyone out there, this is what I have done in the last few minutes.

I have transferred a sum of money into my CF account on line.

My own bank tells me the money should be in there by tomorrow.

The CF account says money £x pending.

So....all being well and I get a rate I am happy with, I buy euros tomorrow or early next week.

Please feel free to PM if you want more specific details.

[mint]

Here's my tip for what it's worth ....maybe only a very few centimes more .....still, every little helps, as one supermarket would have it.

Do not immediately click on the quick exchange option.  I did and then, feeling brave, I tried the marketplace option.  There were just over £900 worth of euros at a slightly better rate than spot rate, so I immediately bought them and transferred them straightaway to our French account.

Money's been sent so I shall check tomorrow or Monday to see whether it's where it should be.

If you don't hear again, assume that all went well.  Otherwise, I shall post from debtor's prison, if they still run such institutions.

Thank you to everybody for pointing me towards the CF route:  cheers[B]