FX transfer

[N Rothschild]

need to transfer some moonies to america and i dont fancie being anal probed by my bank..where can i get a good deal on some doolahs to send over? (6 figures)

 

[N Rothschild]

anyone?

 

[Jason Rogers]

need to transfer some moonies to america and i dont fancie being anal probed by my bank..where can i get a good deal on some doolahs to send over? (6 figures)

Here are two you could look into. Haven't used either personally, but know about them from other traders.

http://www.xe.com/fx/
http://www.customhouse.com/individual-services/international-payments/

 

[jaspertrademaster]

I would reccomend the second link given by Jason Rogers.

 

[a_gnome]

I use Oanda's FXGlobalTransfer which I find very good. You wire money to your OandA account (e.g. £30 cost), set up a recipient to receive the USD money and then do the FX trade to convert using their 2 pip GBPUSD spread. The USDs are then automatically wired to the recipient for a fixed $25 fee.

url: http://fxglobaltransfer.oanda.com/

HTH

 

[gc1]

... do the FX trade to convert using their 2 pip GBPUSD spread ... HTH

Does Oanda offer the same spread for FX conversions as for their margined fx trading accounts ?

 

[N Rothschild]

I use Oanda's FXGlobalTransfer which I find very good. You wire money to your OandA account (e.g. £30 cost), set up a recipient to receive the USD money and then do the FX trade to convert using their 2 pip GBPUSD spread. The USDs are then automatically wired to the recipient for a fixed $25 fee.

url: http://fxglobaltransfer.oanda.com/

HTH

cheers

 

[a_gnome]

Does Oanda offer the same spread for FX conversions as for their margined fx trading accounts ?

Yes, hence the 2 pips above. You basically do the FX conversion like a live trade on their web site (you even have 30 secs or so to decide whether to take the price or not). You won't get a better conversion rate than this so it's just a question of the costs of wiring the money to and from Oanda and whether you trust Oanda over some of these other internet FX conversion companies.

 

[virtuos0]

Why would it cost £30 to get the money to Oanda, you can BACS it can you not.

 

[Pippy5000]

an international wire with Chase would be approx 17 GBP.. Risking $100,000 with a lesser outfit in order to save a few pounds on transfer fee would be profoundly unwise.

 

[N Rothschild]

as ussual you have missed the point!

 

[Pippy5000]

Try the Russian Mob Creative Accounting Program (RUMCAP). I personally think the 100% financing fee is a bit excessive and their customer service SUCKS, but you can avoid pesky banks and government agencies giving you grief.. Broken arms heal, maybe not completely, but they do heal.. I think the Russian mob has been given a bad wrap in the financial services world.