Converting £(GBP) To $(USD) (What is the Most Cost Effective Way)

[Trader333]

I am looking at converting a large amount of capital from GBP to USD. I would appreciate any views on the most cost effective way of doing this. This is particularly so as commission rates vary wildly and the difference would amount to hundreds of pounds.

Any thoughts are welcome



Paul

 

[Henry]

Probably a specialist currency broker, who will be able to get you a rate closer to the interbank rate than most retail banks will offer. Try http://www.fxsolutions.co.uk who will do free transfers for large amounts.

H.

 

[strewthmate]

Hello

I remember reading this in the Telegraph last week. Its about money transfers. I dont know how applicable it is for doing a straightforward conversion. But maybe worth a look.
The companies are called caxtonfx and currencyUK apparenlty offer much better rates than the banks (sorry dont have any further details)

Heres a link to the article on the telegraph website

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2003/05/07/cmbank07.xml

Hope it helps

Dave