I,m Pullimg my hair out with these EXCHANGE RATES HELP !!!!!!

[rita.clancy]

HELLO EVERYONE

First time on a forum,

But I need help with this I am in the middle of moving to Spain and I am having a few problems deciding what Foreign Exchange company to use.

I have heard a couple of things about a number a Currency company's but every time I hear something good about them I hear something bad as well.

It’s driving me crazy....

Is there a company that doesn’t take any commission on transfers or can just guarantee the best rate out there?

Please help I have to do my transfer soon.

Thanks all advice is very much appreciated

[jojo]

We use currency direct, but there are others. I believe Barclays UK and Barclays Spain have some kind of deal going on at the mo. I'm afraid i dont get involved in money transfers, my OH deals with that - its his job to put it into my Spanish account and its my job to spend it

[chris(madrid)]

Originally Posted by jojo

I believe Barclays UK and Barclays Spain have some kind of deal going on at the mo.

YUP.

Since Europe harmonised on the Euro the Foreign Exchange business has got MUCH harder. EXCHANGE duties exist for FEX dealers to live by. If it's a LARGE sum - NEGOTIATE.

[Stravinsky]

Originally Posted by rita.clancy

HELLO EVERYONE

First time on a forum,

But I need help with this I am in the middle of moving to Spain and I am having a few problems deciding what Foreign Exchange company to use.

I have heard a couple of things about a number a Currency company's but every time I hear something good about them I hear something bad as well.

It’s driving me crazy....

Is there a company that doesn’t take any commission on transfers or can just guarantee the best rate out there?

Please help I have to do my transfer soon.

Thanks all advice is very much appreciated

A couple of the main players are HIFX, and ITT Moneycorp (Google them) . They dont charge commission normally. You need to be careful what Spanish Bank you are with. For instance, Banco De Valencia charge a receiving fee every time you make a transfer to your account. SOL Bank don't.

Sign up with both and then compare the rates on the day you are going to buy.

[Missty]

I use Currency Direct and I've never had a problem with them. I can tell you I was scared at first sending large amounts of money to an unknown middle man. But I have used them several times since without any hiccups or delays. The more you transfer the better the rate, but as the rate is so low at the moment only move what you have to. Unless of course you feel the market will get worse before it get better.

Currency Direct don't charge commission on a minimum of £5,000 and my Sol bank does not charge any transfer fees.

[Barry Davys]

Originally Posted by rita.clancy

HELLO EVERYONE

First time on a forum,

But I need help with this I am in the middle of moving to Spain and I am having a few problems deciding what Foreign Exchange company to use.

I have heard a couple of things about a number a Currency company's but every time I hear something good about them I hear something bad as well.

It’s driving me crazy....

Is there a company that doesn’t take any commission on transfers or can just guarantee the best rate out there?

Please help I have to do my transfer soon.

Thanks all advice is very much appreciated

Hi Rita,

Yes, can be confusing. I have used a company called Currencies Direct too and they have been good. No specific commission if you transfer more than £5,000 and a good rate. They are also easy to deal with.

The foreign exchange markets are moving all the time so no one company can guarantee you the best rate.

Sol Bank is also very good as a Spanish bank. Many Spanish banks are HORRENDOUSLY expensive including Barclays.

What part of Spain are you coming to?

Barry

[Trevor Titterton]

Originally Posted by rita.clancy

HELLO EVERYONE

First time on a forum,

But I need help with this I am in the middle of moving to Spain and I am having a few problems deciding what Foreign Exchange company to use.

I have heard a couple of things about a number a Currency company's but every time I hear something good about them I hear something bad as well.

It’s driving me crazy....

Is there a company that doesn’t take any commission on transfers or can just guarantee the best rate out there?

Please help I have to do my transfer soon.

Thanks all advice is very much appreciated

I have just used corporate fx, I have nothing but good from them. I was given a reasonable rate fixed for a month then they paid straight into my Spanish bank account. If you choose BACS then it is free, use chaps and it cost £28 no other charges. The man to speak to is Melvin Fraser on tel.0207 743 7002.