Currency broker recommendations

[JP1889]

My currency broker who I used in the past is no longer in business.
Revolut were recently a nightmare for paying just a small amount into and dont trust them with larger sums, so I'm looking for a currency broker recommendation from funsters.

 

[Spanishsteve]

I’ve used Transferwise for the last 4 years, good exchange prices and quick transfers too. They also now offer £ sterling and € euro accounts too with a debit card.

 

[Peter and Julie]

My currency broker who I used in the past is no longer in business.
Revolut were recently a nightmare for paying just a small amount into and dont trust them with larger sums, so I'm looking for a currency broker recommendation from funsters.

Smart currency exchange appear ok.

 

[Speve]

Have used XE currency exchange in past they were excellent and have a good app

 

[Pete5996]

I used Currencies Direct for a regular transfer for many years, then found with Transferwise I could save about £30/month on a £1k transaction. I use Transferwise exclusively now, transferring when it suits me and it takes only seconds/minutes for the credit to arrive

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[nicholsong]

I have used Transferwise for many years never a problem - well until one day I got an e-mail to say because of a bit of downtime the transfer would be 8 hours late, which was not criticl anyway, but they did at least send the e-mail in advance. My details are stored with them but I still have to input a security pass to do a transfer but it is all done in a few clicks.

Quite happy to recommend them.

Geoff

 

[two]

If not moneywise, try torfx.

 

[cmcardle75]

Another vote for TransferWise. I use occasionally to retrieve USD. It takes days or even weeks for the cash to get between various US banks and brokers. Once it finally hits my TransferWise pseudo-account in New York I can have it converted and transfer to my UK bank account in a few seconds. US banks are really the pits.

 

[Stealaway]

Am I missing something?
Do I need one of these cards?

I take my UK bank cash card to any cash machine in Europe and draw euro's out - No problem and free of charges.
I use a Halifax credit card for most payments, also - No problem and free of charges

 

[ADJF]

Azimo for me - i've found it to be the best rates and quick and lowest fees. Your first three are free. If you intend on using it please let me know as I can get a recommend a friend fee

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[berni109]

Have a look at currencyfair used to use them when I moved money. Now it's just UK cards for living expenses.

 

[Lenny HB]

Am I missing something?
Do I need one of these cards?

I take my UK bank cash card to any cash machine in Europe and draw euro's out - No problem and free of charges.
I use a Halifax credit card for most payments, also - No problem and free of charges

Yep you are definitely missing I'm not sure what.

What you suggest doesn't work if paying 50 or 100 grand for an new van or other goods.

 

[Stealaway]

I thought that kind payment is a one off. Maybe not for you rich people buying new Hymers almost annually

 

[Lenny HB]

I've used VFX (used to be called XEI think) if you ring them they will give a better rate than the online rate. Last time though because we only needed €10k, rate was poor so we used Revolut.

 

[JP1889]

Thanks everyone Azimo looks to give the best rate. Transferwise ok too.

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[gus-lopez]

Am I missing something?
Do I need one of these cards?

I take my UK bank cash card to any cash machine in Europe and draw euro's out - No problem and free of charges.
I use a Halifax credit card for most payments, also - No problem and free of charges

OP obviously wants to change 10's of 000's so best deal is a money broked

I thought that kind payment is a one off.

Yse & that is why you use a money broker. use your bank & the differnce in the rate will buy you a mercedes.

 

[royw]

I use foreign currency direct i get libor rate - .25% we do regular transfers to and from France

 

[Henry Walpole]

Starling Bank pretty good. You can open a £ and a Euro account and just sweep money across whenever you want. You get the current bank rate minus a 0.4% fee. One debit card is used for both accounts. No fees on either account and a small amount of interest is paid to you on the £ account.

 

[nicholsong]

Another vote for TransferWise. I use occasionally to retrieve USD. It takes days or even weeks for the cash to get between various US banks and brokers. Once it finally hits my TransferWise pseudo-account in New York I can have it converted and transfer to my UK bank account in a few seconds. US banks are really the pits.

When I worked a a large City law firm we often had to send large amounts of money to the US near the w/e, so to avoid the US bank sitting on the money for days we used to ask for an articles clerk to volunteer to takw a flight with a Banker's Draft, hand it over to the recipient, spend the w/e in the States and fly back - the client paid for that but saved money.

A lot of people do not know that the big US banks like Citibank have to hold State banking licences in each State. Many small banks are only liceensed in a few States and have to work through the big boys elsewhere.

Geoff

 

[Brains]

When I worked a a large City law firm we often had to send large amounts of money to the US near the w/e, so to avoid the US bank sitting on the money for days we used to ask for an articles clerk to volunteer to takw a flight with a Banker's Draft, hand it over to the recipient, spend the w/e in the States and fly back - the client paid for that but saved money.

A lot of people do not know that the big US banks like Citibank have to hold State banking licences in each State. Many small banks are only liceensed in a few States and have to work through the big boys elsewhere.

Geoff

As a teenager working for a City based Shipbroking company I got to travel all over the place delivering bankers drafts and cash, and some of it really was cash, several years salary in a single envelope. I got trips to Greece, Germany, USA, HK and other places. As a teenager all very exotic.

Best one was delivering an 6" thick brown envelope to a man sitting at the head of a table in the Savoy Restaurant, I was taken to the table by the maitre'd, the man opened the envelope and fanned tens of thousands of pounds across the table. The entire restaurant went silent.

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[68c]

Got sent to Alexandria in the seventies as a young engineer. Given today's equivalent of £5000 and told to change it at Cairo airport before taking the train to Alex. The Bank was a window in the main airport terminal, that money when changed was about six inches high. Got paranoid, went to the loo and changed my jacket and took off my glasses then caught train to Alex. The other engineers met me at the airport, I did not know any of them, they really took the mickey when I asked for ID which they had. Handed over the cash to the chief engineer, he went mad cursing me before explaining I should have given them the Sterling. Seems they would have changed it on the black market for double it's face value. Not the most popular new boy

 

[spitfire]

I use IFX . Same guy deal contact for the last 17 years . No problems