Yummy exchange rate :-)

[Tyke]

I've just had some money transferred from a UK client.

$2.535 to 1 UK Pound!!!

:shock: :shock:

I'll have to rattle my UK bank accounts and see if there is anything to transfer

Hope everyone else in here gets a good rate when they send their pennies over :-)

[Lea]

Wish DIMIA or whatever they are calling themselves today get a move on and grant our visa (and Lisa's of course) so we can set up our account and transfer our money soon.

Lea

[Angela]

Thats an excellent rate Tyke.

Can I ask, at what stage does anyone suggest you think about the transfer.

We are waiting til nearer the time when we hope to get the visa, is March time to really focus on the house sale etc I suspect if you use one of these co's like HIFX (I think thats the name ) you tell them approx how much you will have to transfer, neg the $, agree their % & sign a contract - am I right ?

Is it a silly question but why don't you just open a bank acc with say HSBC (loads in Nottm) & transfer money that way ?? Is it because you don't get much $ for the £ & perhaps its pricey this way ??

Any advise / suggestions welcome.
Angela

[Tyke]

Wish DIMIA or whatever they are calling themselves today get a move on and grant our visa (and Lisa's of course) so we can set up our account and transfer our money soon.

Lea

Are they not called DIC or something now.

:lol: :lol:

[Tyke]

Thats an excellent rate Tyke.

Can I ask, at what stage does anyone suggest you think about the transfer.

We are waiting til nearer the time when we hope to get the visa, is March time to really focus on the house sale etc I suspect if you use one of these co's like HIFX (I think thats the name ) you tell them approx how much you will have to transfer, neg the $, agree their % & sign a contract - am I right ?

Is it a silly question but why don't you just open a bank acc with say HSBC (loads in Nottm) & transfer money that way ?? Is it because you don't get much $ for the £ & perhaps its pricey this way ??

Any advise / suggestions welcome.
Angela

Balancing your life/selling up against the exchange rate can be nerve wracking.
We had opened an Aussie account here during a reccie trip.In 1998 when we first started sending spare cash out the exchange rate hit $2.89 !Suddenly everything loose was sold and converted at that lovely rate.We were charged by the Yorkshire Bank 28 UK pounds per transaction but with the rate so high it did not matter.

Agreeing a forward contract can be the way to go but you must be sure of selling up and visas.

Using a currency exchange company ( Custom House is my preferred) will give you a much better rate.I'd say roughly 5 - 7% extra.
Yorkshire Bank quoted me recently at $2.36 where Custom House offered $2.47.

[dglamoore]

We have a forward contract with HIFX which comes out 1st March and was set up before xmas and have opened an account with Westpac which we transfer bits too whenever the rate is good.

If for any reason we do not get a visa it is easy enough to transfer the money back but this way we know our money is over there ready for when we arrive :D One less thing to think about!

Will check the rates again and get some more over there I think :lol:

Lisa