Interesting, he did send me a copy of the form he was asked to fill in and there was definitely a requirement to put in a sort code.
Anyway, he sent me the money to UK and I got TorFX to tell me how many pounds they wanted for 600 euros and all was done and dusted.
Then, a couple of hours later I realised that I had omitted to send the money to TorFX.
Not a big problem as they give you 24 hours I think, holding the rate, but just something else for an old geezer to worry about.
If you donāt mind my asking, how much did they want? Always interested in exchange provider rates.
Ā£524.57 on revolut at the mo. (for 600ā¬)
āthey give you 24 hours I think, holding the rateā
Edit - Is that all the time? - that would be useful as a free hedge, tomorrow we could be sub 1.14 to the pound.
ps when the pound plummeted last time (to 1.15 haha) I signed up to western union and got a + 2 cent rate - seems itās only a one time offer, but it was up to Ā£10,000. I didnāt realise it was a one time offer so only did 500. My cautionā¦
Further reflecting edit -
Apologies David, Iām coming across as an exchange rate wonk and of course itās your family visiting. I wish all of you a happy xmas visit, it will be wonderful. I have read your posts re. your love and would like to hold you both in my heart. I havenāt said that so far and I should have and do so now. Your posts about your thoughts on the current war I also hold as mine.
You make me realise itās not money. Best.
Thank you for the kind words, just plodding along as well as I can, I get angry about events inside, and outside, the home, but thank goodness I never throw anything breakable at anything or anyone breakable either, but limit my fury to screaming at the tv or more often the radio.
As to your question, the rate TorFX gave me was 1.1436 which translated to Ā£524.66 for ā¬600. I only did the exchange because my son needed it doing right away so I could pay our friends for the rental of their house, tomorrow, at the memorial.
Otherwise I would wait, and am waiting, for much better and fortunately am able to do so by having pensions in both countries so the respective bank balances are, well, balanced at the moment.
There are, of course, no charges for that transfer, they make their money by quoting a penny or so below the current rate, which suits me fine. They were easy to sign up to and, as long as I remember to pay them ( ), are very quick and easy to deal with.
Edit: Sorry, forgot you asked about the 24 hours. I donāt know if that is the case but I think it is. It doesnāt matter to me as normally I do the whole thing including the payment to them within the same 5 minutes. I simply forgot this time.
Thanks for the comparative info. I requested a ToRFX quote and they phoned and got me signed up. Looking at the rate it is a bit below revolut and a bit above wise - so as rev is 1K / month Iāll keep on using that but keep ToR FX in mind for larger purchases - although one has to consider just ponying up the rev. monthly fee for unlimited transfers.
In a way itās good you did your transfer yesterday coz ToRFX is giving me 1.1386 just now.
Iām thinking Iāll pay the remaining taxes from the France euro reserves now. We may wait long for a better rate now though, although as someone said, the predictions donāt seem to be worth anythingā¦
10 days ago pound sterling live had Rabobank predicting around 1.163 āin the next couple of weeksā.
UBS has 1.1363 for xmas and Goldman Sachs a chilly 1.11
Do you have a ārecovery rateā in mind? At the moment 1.15 seems to be a consensus.
Here was my TorFX / Rev comparison for info.
Diff | ||
---|---|---|
Live | 1.14344 | |
TorFX 10K | 1.1387 | 0.00474 |
Rev | 1.1417 |
I previously calculated wiseās difference at 0.00518