Changing a Euro bankers draft into Sterling

[Salty Gibbon]

I have just received a rather large Euro bankers draft payable to me.

Does anybody have any ideas as to the best way to get my money into GBP other than letting my local bank deal with it and have them rip me off on the exchange rate and the commission charges ?

 

[boy]

You could ask the issuer to do a wire transfer instead of using the paper - I had the same situation last year.

 

[Trader333]

You haven't won the Euro Lottery by any chance ?


Paul

 

[Salty Gibbon]

No such luck.

Just sold a property.

 

[Trader333]

You could try www.currencyuk.co.uk there may be better ones out there but they are competitive.


Paul

 

[Salty Gibbon]

Thanks Paul. I'll give it a try.

What about CustomHouse ? Any good ?

 

[mark_m]

Salty,
I used wwww.fxsolutions.co.uk after selling up and moving back to UK and they were OK - bigger spread than FX trading brokers but still good enough for hard currency.
You can do a Forward Rate (FRA) or Spot deal - also you can use a limit order to (possibly) get a better your price.

 

[mikeyk]

Try currencies4less.com i used to work for them and there best in terms of service and not being ripped off. Most of the other firms are scam merchants. When you want to deal you'll get the old: 1.81? sorry mate though you were doing a couple of mil. it will be 1.79 for 50k.

 

[oatman]

Have you spoken to your bank's exchange dept? Negotiate a rate.

 

[Salty Gibbon]

Oatman
Maybe it's worth a try but I wouldn't be too optimistic about that.
The large banks have very large rule books which their brainwashed and institutionalised staff are wont to follow to the letter.