Gilles_Le_Fermier Posted February 20, 2007 Share Posted February 20, 2007 We hope shortly to be able to transfer a fairly large sum back to the UK - any advice on the best (cheapest) commission at the moment? We previously used onlinefx, but this was some time ago and it would be nice to have some up-to-date info.I am sure this has been covered, but I can't find anything recent.Any help gratefully received! Link to comment Share on other sites More sharing options...
Lindnarden Posted March 2, 2007 Share Posted March 2, 2007 It may be too complicated but if youhave a First Direct / HSBC account in the UK and an HSBC account here in France there is a flat fee of £10 to transfer any amount you want - that's the way we do it anyway...... Link to comment Share on other sites More sharing options...
Benjamin Posted March 2, 2007 Share Posted March 2, 2007 The larger the amount you are transferring then the less the commission comes into the equation. The bit you've got to look closely at is the exchange rate you are being quoted.We've all got our different favourites when it comes to fx companies. It might be that they were the best exchange rate for our first transaction and we then tend to stick with them or we like the person we deal with at their end: I find it difficult that you can't find any info in past posts.If it's it substantial amount you can probably try playing one off against the other as they all have a working margin.Also just take into account that some banks charge for receiving funds from a foreign source although this is unlikely to be a substantial amount. Link to comment Share on other sites More sharing options...
LesLauriers Posted March 2, 2007 Share Posted March 2, 2007 RankOrganisationRateCost in £ 1 4X Currency Corporation 1.4803 £111,463.892TT Moneycorp*1.4800£111,501.493Direct Currency Exchange1.4785£111,599.594Caxton FX1.4780£111,637.354HiFX1.4780£111,637.356Escape Currency*1.4770£111,727.937Currencies Direct1.4762£111,773.478Travelex1.4741£111,932.709International Currency Exchange1.4730£112,016.2910Foreign Currency Direct**N/AN/A *Includes £15 transfer fee** Could not quote within the time frame Results of an independent mystery telephone shopper exercise carried out by Ipsos MORIon 27 February 2007 between the times of 3.35pm and 4.16pm to transfer 165,000 Euros.During these times the inter bank rate fluctuated between 1.4843 and 1.4849 (provided byxe.com). Ipsos MORI registered as a customer with each of the companies listed, and thequotes obtained were actual dealing rates not indications. Link to comment Share on other sites More sharing options...
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