# Moving Your Money



## FX Specialist (Sep 4, 2007)

Hi All

I am a newly registered member to the ExpatForum.

I am not, however, new to the world of Foreign Exchange and International Money Transfers.

I would like to stress that this post is not a cheap shot at getting some advertising. I am here to help anyone with any questions about transferring funds internationally. I will never post a link to our company website or details of who I work for.

Subsequently - I will make it simple if you do need my services. PM me with any contact details and we'll go from there.

I live and work in Spain for a UK based FX company for which I am the Country Manager (Spain)

I know the in's and out's of international transfers, how UK and Spanish banks operate (more on that later!) and how other FX companies work.

I can assure you that if you use your bank - you make your first mistake. They are never as competitive.

I can also assure you that what one FX company offers, is generally what we all offer... good rates.

So what seperates them? Service, basically. The level of service the speed of transactions and the time it takes to sign up with them.
There are so many FX companies - I know of about 100 at least in the UK alone.

It is a tough industry - but its one that I love.

You know when you buy a product like... say... a tin opener (dont know why!)and they tell you it does wonderful things, then you open the box and it is actually just a tin-opener. That purchase didnt do anything for you.

When you use an FX company to transfer money, they do exactly what they tell you... Save you money.

Anyway - thats enough from me for now.
If anyone requires help on specific issues, please get in touch!

FX Specialist


----------



## Goldberg (May 24, 2007)

Hi, which company are you and why would a client choose your company over the other ones in the market? eg. Moneycorp or HIFX or Currencies Direct etc.


----------



## FX Specialist (Sep 4, 2007)

*The difference...*

Hi Goldberg Global

Theres not much that separates FX providers between themselves (based on the currency rates they offer) the main difference in rates is when compared to banks.

The difference between our company (Axia FX - www dot axiafx dot com)
is the level of service we provide. We don't shout out about beating everyone on price as there are so many others doing that, and in the process of doing so the whole thing becomes very corporate and the personal touch is lost. So we promote ourselves as a FX company that makes the whole process an enjoyable one.

Take a look at our website, and let me know what you think.

I see from your website you have a few logos for FX companies and banks - does your company have any form of relationship with them?

Kind regards

FX Specialist


----------



## Goldberg (May 24, 2007)

Yes we have relationships with Moneycorp and HIFX. Both give good service.


----------



## Goldberg (May 24, 2007)

I dont think this is true quoted from your site..

For Partners


Most Foreign Exchange businesses call you Affiliates, which according to the dictionary suggests 'subordinate' and they treat you as such. We at Axia FX much prefer the word 'Partner' as our intention is to work alongside you in providing the tools for you to give any clients the confidence of a professional, safe and well run company and at the same time ensure you make more income.




If we were subordinates we would not work with them.


----------



## FX Specialist (Sep 4, 2007)

*Re; Partners*

Hi Goldberg Global,

Thanks for looking at our website, and for the insight.

Though I did not have a hand in writing the text on our website, I can assure you it was not referring to anyone as 'subordinate' however it is suggesting that many FX providers do call - what we call partners - 'affiliates' which the dictionary suggests is 'subordinate'.

It is not a reference in any sense to any individual or company. Instead it is a statement of how we see our partners.

Quote:
*Most* Foreign Exchange businesses *call you Affiliates*, *which according to the dictionary suggests 'subordinate'* and they treat you as such. We at *Axia FX much prefer the word 'Partner' *as our intention is to work alongside you in providing the tools for you to give any clients the confidence of a professional, safe and well run company and at the same time ensure you make more income.

There is nothing in this paragraph to suggest that you are subordinate - I hope the material on our website has not offended you.

Kindest regards

FX Specialist


----------



## Big Pete (Aug 7, 2007)

I Dont know about moving funds being a problem , but i am just about to send some money and typical todays rate is some 1.43 !!!! Euros .

Pathetic isnt it ?

Anybody have any ideas if i should stall a week and if i do will it go up again or down ?

Any money experts have any ideas if its gonna go back up or down ?


----------



## FX Specialist (Sep 4, 2007)

*Moving money*

Hi there...

GBP has weakened against both USD and EUR. If you're looking to purchase EUR/USD in exchange for GBP do it quick as it will weaken further over the coming months.

It is also apparent that UK house prices are going to fall (some have said that this could be upto 20% over 12 months, however this is speculation)

Nothing can hold it's weight these days as consumer debt in the UK hits £1 Trillion. And to stall this interest rates have remained the same.

However, mark my words, it will get worse and both the EUR/USD will strengthen against GBP.

I would suggest the following points;-

If you need to - buy spot now
If you don't - buy a 'forward contract' to lock a rate for at least 3 months

When buying a forward contract be aware that the decrease in rate is based on forecasted interest rates - not forecasted currency rates.

If anyone needs further or more specific advice, let me know.

Kind regards

FX Specialist


----------



## Big Pete (Aug 7, 2007)

FX Specialist said:


> Hi there...
> 
> GBP has weakened against both USD and EUR. If you're looking to purchase EUR/USD in exchange for GBP do it quick as it will weaken further over the coming months.
> 
> ...


Its to low now !

This time of the year it normally goes up ? You reckon its going to drop more ?


----------



## FX Specialist (Sep 4, 2007)

*lower*

I believe so...

I hope it toughens up a little next month, though the signs are that it won't...


----------



## Shan1952 (Sep 25, 2007)

Hi,
We are in the process of buying a house in Spain & have to transfer 10,000 euro for the deposit and then the remaining balance of around 180,000 euro in a couple of weeks time.

I have tried to find the best & cheapest way to do this but am getting rather confused. I would be grateful for any advice you could give me.

Thanks
Sharon


----------



## Big Pete (Aug 7, 2007)

*Dont dismiss the High Street Banks*



Shan1952 said:


> Hi,
> We are in the process of buying a house in Spain & have to transfer 10,000 euro for the deposit and then the remaining balance of around 180,000 euro in a couple of weeks time.
> 
> I have tried to find the best & cheapest way to do this but am getting rather confused. I would be grateful for any advice you could give me.
> ...


Hi Sharon

I was in the same boat as they say , Been watching the Euro Rate up 1.48 and around that mark for ages , My Villa is now ready and i needed to send funds immediately so what happens yep same as you know doubt !!
I go away a couple of days and wallop its down to 1.42 . I checked on line with Money Corps etc it was 1.438 , Now due to the speed of which i have now had to complete on the VIlla after a period of waitting some months for a poxy NIE which everyone said "Oh only takes a couple of weeks etc !!!" Eventually turned up , but all of a sudden to catch the original deadline had to send the Euros ..

Anyways back to the story , Well i had no option and really being honest was at my Banks mercy (HSBC) so in i trundle and they tell me the rate is 1.35 !!! Get out of it i tell them , thats kiddys hoilday rates . I have checked and on the Internet i can get 1.43 . Will be moving 165,000 over so if you want the business you got to do better than that !! ( keeping fingers crossed and expecting the tough but thats the rate ,etc , But she rings Head Office and i am sitting waitting to hear maybe 1.40 tops from her , Well she says they cant beat it but will match it !!

So some small relief although still not happy i cant blame the bank though and the HSBC did come through and cost me £ 10 to send it ..

Now morale of the story for all to heed !

1/ When the rate gets high enough your happy to swap money , do it ..dont wait ..
2/ Dont believe the Rates they show and say are fixed ! They have a lot of scope as i proved ..



Well of now to take posession of my Villa ,so catch you all soon . Unless they sold me just the land and i get arrested for murder LOL


----------



## FX Specialist (Sep 4, 2007)

First things first, when using your bank they operate like this...

They quote you a rate... they say you get that rate, but you don't.
The rate you actually get is often alot less and the charges are some times very high.
But you don't find out until the transaction is complete.

I guarantee that I can beat the banks, hands down, every time.

I'll PM my contact details to you guys and if you require help with moving funds you contact me/ our company or just have a look at our website to get some more information.

(P.S - the rate is getting better and better, so don't worry!)

Kind regards

FX Specialist


----------



## Goldberg (May 24, 2007)

Big pete, you can leave you money with fx companies and tell them to buy when it hits a certain rate, as long as you dont have a fixed time in the future, they can buy at the rate you want, in a time period they have your money, if it does not go up that high in the time, then that is life.


----------



## Stravinsky (Aug 12, 2007)

FX Specialist said:


> I believe so...
> 
> I hope it toughens up a little next month, though the signs are that it won't...


Well thats really specific then isn't it!!!

In other words you dont know, just like all the other currency companies.


----------



## FX Specialist (Sep 4, 2007)

Hi there

One thing I would never do is tell you something as a fact when I know it's not a fact!

In reality I have had dealers who quote a price to a client as though it were the rate they'd get every time, then when the client wants to transact and they're quoted a different rate they are not happy.

What I will say is compare what you can get, and I will gaurantee to beat every price that I can prove is true.

In addition to that I would say that moving your funds now may be a good idea as the rate has tightened up a bit - and no matter what anyone tells you, you can never know exactly what the rate will be in the future *unless you lock a rate - which won't be good unless the rate is very high now - eg GBP-USD*

You are correct when you say we're the same, like any other FX company... yes we are, we transfer funds just like they do.
However, we'll do everything possible to make sure you get the best at all times.

Kind regards

FX Specialist


----------



## winner (Nov 21, 2007)

*hi, fx specialist*



FX Specialist said:


> Hi All
> 
> I am a newly registered member to the ExpatForum.
> 
> ...



Hi, ive just found this website, although ive been living her for 7 years!
The reason for the post is, that you say you might be able to help anyone with any issues regarding fx. i would very much like to speak with you, because having just read your post , i feel it would really help out a fellow expat!
If you could speak with me it would be much appreciated.

Many thanks

Winner


----------



## Stravinsky (Aug 12, 2007)

winner said:


> Hi, ive just found this website, although ive been living her for 7 years!
> The reason for the post is, that you say you might be able to help anyone with any issues regarding fx. i would very much like to speak with you, because having just read your post , i feel it would really help out a fellow expat!
> If you could speak with me it would be much appreciated.
> 
> ...


FX is a business, maybe not (just) an expat
What help do you need? RE: transferring monies?


----------

