Make a Currency Exchange - FAQ´s
F.A.Q`s on getting the best currency rates.
Q How will I save and make more money?
A.We guarantee to quote you a better exchange rate than your bank. The savings you make can vary but are often as high as 4% of the amount being transferred. For example, a client transferring 100,000p pounds into Euros was recently quoted 1.22 euros to 1 GBP, by their bank. They would have received 122,000 Euros. We quoted 1.25 euros to the pound, and paid them 125,000 Euros. Using FX-ForeignExchange.com, made them another 3000.00 Euros on one deal!
Q Do you charge a commission for currency exchange?
A. No, we don´t charge commission and there are no other hidden fees or account charges. Our Global Currency Exchange is completely transparent and you will be faxed, or emailed, the dealt ticket (as we call it), to confirm the currency exchange, before we buy change the money for you. On that deal ticket are the full costs of the currency exchange.
Q. Explain why it´s better to use a Global Currency Exchange service rather than a bank?
A. GCEN ( Global Currency Exchange Network ) is able to offer the bestt foreign currency exchange rates to its clients; we achieve this by offering ‘wholesale’ rates compared to the banks ‘retail’ rates. Our aim is to give a simple easy to use service ensuring our clients have total peace of mind at all times. In addition, GCEN don´t charge the commission charges and bank transfer charges that the banks do. You save money each time.
Q. What rate will I get? Will I get the same rate I see on the TV or the Internet?
A. The rate will depend on the amount being transferred and the date you want the funds to arrive. The rates on the TV and some internet sites are “mid rates” for transactions over 5,000,000. This means they are an indicative rate halfway between the buy rate and the sell rate and no-one can trade at these rates. At Global Currency Exchange Network, we believe we will quote you the best exchange rate today. If there is a particular exchange rate you are trying to achieve, we are always happy to watch currency exchange prices for clients and can transact for you or call you if the rate is reached.
Q. How long will it take before I can trade?
A. As soon as you have registered as a client you will be able to trade. Because we are bound by money laundering rules, we will need copies of items like your passport and one other form on ID like a recent utility bill.
Q. How will I pay?
A. There are several ways to pay: BACS, CHAPS / telegraphic transfer. Please note though, We can not accept cash as payment, although a cheque is fine.
Q. What happens to my money?
A. Your funds will be held in a client account with HSBC for the short time it takes to complete the transaction.
Q. How will I receive my currency?
A. Once your payment has been cleared, your foreign currency will be transferred to the account that you gave us when you ordered the currency exchange, by CHAPS payment. Some overseas banks may charge to receive funds, but if you are transferring to a country where Global Currency Exchange Network trades regularly, it´s likely that we will be able to save you the receiving fees as well.
Q. How many times can I use this service?
A. You can make as many transactions as you like, once you have opened an account with us. All you need to do is call your allocated currency dealer in our office and he / she will handle everything for you as we will already have you on our records.
For more information about making a money transfer, or terms about currency exchange, GO HERE
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