Frequently Asked Questions - Foreign Currency Transfers
Q. How will using Forex companies benefit me?
A. Exchange and transfer money today at a rate far more competitive than the high street banks. While banks fix their rates in the morning, we have access to the currency trading floor, thus we can access a better deal.
Q. How long does it take to set up an account?
A. If you start the process during office hours, it will take a few hours and once the account is set up, you can easily make arrangements for your exchange.
Q. Why don’t FX providers charge a commission or fee?
A. While banks fix their rates in the morning, Forex companies have access to the currency trading floor and because they buy currency in bulk they can negotiate spot deals which they pass onto the consumer.
Q. How can you make sure the company you decide to send your money is a legitimate company?
A. Send Funds Overseas has vetted and checked the credentials of all of the companies listed on this site. For those not listed, in the UK All legitimate Forex companies have to be regulated by the FSA and are classed as Authorised Payment Institutions.
Q. How can I be sure that they will beat my bank rates?
A. With corporate transfers banks are often as competitive so it is always wise to shop around checking with your bank and the FX brokers listed on this site.
Foreign Currency news
| 03/13/2010 08:31 AM |
| Currency Market Update from Currencies Direct |
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Euro fights back against the USD
The euro has gained over a cent against the USD. Economic data certainly helped the move with Euro zone Industrial Production coming out much better than expected at +1.7% month on month and +1.4% year on year, the expectation was for +0.7% and -1.9%. The positive industrial production data can [...]
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| 03/12/2010 02:36 PM |
| Currency Update – 12/03/10 – Smart Currency Exchange |
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Sterling up vs. US$ on opinion poll showing clear Tory victory at election.
Note: All rates are mid market inter bank and indicative at the point of publication.
To get a live exchange rate please go to www.SendMoneyHome.org/smart-currency-exchange
Email: sendmoneyhome@smartcurrencyexchange.com
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| 03/12/2010 10:07 AM |
| Daily Market Commentary – 12/03/10 – Smart Currency Exchange |
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Currency Rates
EURO/GBP – 1.102
US$/GBP – 1.512
CHF/GBP – 1.608
CAN$/GBP - 1.548
AUS$/GBP – 1.649
ZAR/GBP – 11.242
JPY/GBP – 136.87
HKD/GBP – 11.737 To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx
Sterling rose yesterday following a slight upturn in inflation expectations, but negative sentiment over the economic and political situation in the UK still remains. [...]
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| 03/12/2010 08:32 AM |
| Currency Market Update from Currencies Direct |
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Sterling lifted in early trading
Yesterday the Pound affirmed its status of being the current whipping-boy currency following the disappointing manufacturing and industrial production numbers yesterday morning. Given the much worse than expected trade figures from Tuesday, economic pundits had marked down their assumptions for yesterday’s data but the outcome proved even less palatable. Given the [...]
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| 03/12/2010 08:32 AM |
| Currency Market Update from Currencies Direct |
|
Sterling lifted in early trading
Yesterday the Pound affirmed its status of being the current whipping-boy currency following the disappointing manufacturing and industrial production numbers yesterday morning. Given the much worse than expected trade figures from Tuesday, economic pundits had marked down their assumptions for yesterday’s data but the outcome proved even less palatable. Given the [...]
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