India Posted January 20, 2014 Report Share Posted January 20, 2014 We have only ever used the bank to exchange money from pounds to dollars however i always complain about the exchange rate and decided to use money corp this time Using an exchange company is completely outside of the norm for me, and I kept having ridiculous thoughts such as what if they go bust whilst they have my money!!! Decided if they were offering $1000 more than the bank on the money i wad exchanging i would use them and not HSBC. They were offering more than this so with some anxiety decided to use them I don't want this to sound like an advert for money corp but couldn't have been happier with the professional service we received or how quickly funds were credited to our Australian account. Can't recommend them highly enough. Quote Link to comment Share on other sites More sharing options...
nikkiwd Posted January 20, 2014 Report Share Posted January 20, 2014 Did you make use of the no fees for Perth Poms members offer? We are looking at transferring money soon as the rate is pretty good at the moment, good to hear the transaction went smoothly. Quote Link to comment Share on other sites More sharing options...
India Posted January 21, 2014 Author Report Share Posted January 21, 2014 Once I had opened the account I contacted John, through this forum. He organised for an account manager in the UK to contact me and he also arranged for transfers to be without fees. i hadn't realised that there is a facility that allows you to book an exchange rate of say aud 1.9 to the pound. If the market reaches this rate they automatically change the amount of money you have agreed at this rate. They will talk you through the various options. Fingers crossed the rate becomes even better for exchanging pounds before the end of April. Quote Link to comment Share on other sites More sharing options...
nikkiwd Posted January 21, 2014 Report Share Posted January 21, 2014 That's good to know that you can book an exchange rate, we are holding out a bit hoping it will get better too, when I saw what it was a year ago there is a massive difference...good timing to be going this year Quote Link to comment Share on other sites More sharing options...
flatpack Posted January 21, 2014 Report Share Posted January 21, 2014 We were in Perth last year (at Xmas) and was getting $1.45 to the £. In 2008 we were getting $2.20 to the £. Hopefully it will get nearer 2:1 before we set off in August. I am very confident it will but I'm a carpenter not a foreign exchange dealer! I'm going to hold out for 2:1 and hope it doesn't got the other way! Quote Link to comment Share on other sites More sharing options...
nikkiwd Posted January 21, 2014 Report Share Posted January 21, 2014 I hope it will get to that rate too flatpack, its a gamble though looking at what it was before. Quote Link to comment Share on other sites More sharing options...
India Posted January 22, 2014 Author Report Share Posted January 22, 2014 I'm not an exchange dealer either but feel I easily could be,as I am following the rates so closely it seems to be such a roller coaster ( we are exchanging the proceeds of a house sale) went to bed last night and it was 1.8 woke this morning to 1.7 like most people would like to see 2 dollars to the pound. Some days I feel this will happen on others, when the rates dip I'm convinced it will be back at 1.4 when I change my money and it will serve me right for hanging on for a better rate Quote Link to comment Share on other sites More sharing options...
nikkiwd Posted January 22, 2014 Report Share Posted January 22, 2014 My husband is watching the rates here http://www.xe.com/currencyconverter/convert/?Amount=1&From=GBP&To=AUD#rates all the time and it fluctuates constantly. We have sold our house too but it won't complete until March so hoping it doesn't go back the other way by then! It is a difference of $000's compared to what we would have got last year! Quote Link to comment Share on other sites More sharing options...
flatpack Posted January 22, 2014 Report Share Posted January 22, 2014 (edited) I'm not an exchange dealer either but feel I easily could be,as I am following the rates so closelyit seems to be such a roller coaster ( we are exchanging the proceeds of a house sale) went to bed last night and it was 1.8 woke this morning to 1.7 like most people would like to see 2 dollars to the pound. Some days I feel this will happen on others, when the rates dip I'm convinced it will be back at 1.4 when I change my money and it will serve me right for hanging on for a better rate Where have you got this info? AFAIK it's £1.87 to £1 Unless the UK economy collapses again, which seems very unlikely as we are forecast by the IMF to have the fastest growing economy this year, there is no way the £ will slip dramatically against the $. I am very much an amateur at this but I know the powers that be in Oz want the dollar to weaken so that they can sell more of their commodities. Whilst they're talking the dollar down there's little chance of speculators buying it and banking on an increase! My view may be very simplistic but that's how I've translated the market over the last 6 months! The proof of the pudding will be in the eating, $2 to a £ and I'm making my move! Edited January 22, 2014 by flatpack Quote Link to comment Share on other sites More sharing options...
odies Posted January 22, 2014 Report Share Posted January 22, 2014 I am told there are lots of offers on aussie rates on friday for australia day Quote Link to comment Share on other sites More sharing options...
flatpack Posted January 22, 2014 Report Share Posted January 22, 2014 I am told there are lots of offers on aussie rates on friday for australia day Can you expand on that? Who were you told by? Who's doing the offering? Quote Link to comment Share on other sites More sharing options...
odies Posted January 22, 2014 Report Share Posted January 22, 2014 the post office have said they are doing special rates on friday for australia day today.as "others " are doing this. who the others are sorry I do not know Quote Link to comment Share on other sites More sharing options...
flatpack Posted January 22, 2014 Report Share Posted January 22, 2014 (edited) I wouldn't give the Post Office a 2nd thought mate, I seriously doubt the rates they pay, special or not, will get anywhere near Moneycorp or TorFX. Edited January 22, 2014 by flatpack Typo Quote Link to comment Share on other sites More sharing options...
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