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Buying and selling foreign currency 17 May 2013

BANKS are not the only organisations which can supply foreign currency. Recently a client was moving £30,000 from the UK and obtained a quote from a bank to make the transaction and one from a dealer. By using the dealer, he saved more than $1000.

You might say a bank is safer and it would be hard to disagree.

This client actually tested the dealer a few months earlier. He wanted to send $100,000 to Australia. He broke the amount up into four parcels and sent each successively making sure the previous amount arrived safely before sending the next.

Warning: This is not advice. We are merely letting you know alternatives do exist.

 

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