Currency Brokers vs High Street Bank
Bank Vs Currency Brokers
Why use broker instead of bank?
You need to have a bank account with the bank and be an existing customer.
Exchange Rate given by banks is not live but are tourist rates.
Banks will give on average 5% less.
To see difference in fees and the amount of currency you will get go to comparemoneytransfer.co.uk/quote
Banks will charge you a transfer fee every time you send money overseas, ranging from £15 to £30 depending on your bank.
Unless you pay a premium high street banks will take from 48 hours to 7 days to transfer your money.
High street banking staff have no experience or expert knowledge on exchanging currency. Staff do not know about currency fluctuations and the different types of transfer options that are available.
However there is anther option
- Brokers offer uk personal account manager - Have the time to answer all your questions jargon free - Monitor the currency rate for you. - Able to book in advance for up to 2 years - Able to place a stop loss so you don't go under a rate booked - Banks and brokers are fsa regulated - Operate separate client accounts - Use Compare Money Transfer at www.comparemoneytransfer.com
Currencies Direct are located at:
51 Moorgate,, Greater London,, , EC2 R6BH, United Kingdom
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