The process is really straight forward - check out this video.
There are two principal costs to consider and compare:
1. Transfer fee
Free above 5K - there is one free payment with every FX trade of £5,000.00 and above.
£15.00 below 5K - we charge £15.00 for additional payments and payments where the associated FX trade is below £5,000.00.
(A fee for our Regular Payment product may apply)
2. Exchange rate
Based on the volume of currency we trade, Currency UK will be able to offer you better exchange rates than your bank or other alternatives. Foreign exchange is, after all, effectively a wholesale market.
As we can achieve better pricing in the market, we are able to pass these better prices to you.
The exact exchange rate we are able to offer you at any given time depends on the following factors:
- Market/interbank price of the currency pair you are looking to trade
- Volume of the transaction and future transactions
- Product e.g. the amount of time you need to fix the rate for
- Flexibility required e.g open forward contract