tommyboyle
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Expert Financial Adviser Answer
James Brooke
answered 1 year ago
Unfortunately banks can charge pretty much what they want for foreign exchange (FX) transactions. It is therefore best to use a specialist foreign exchange broker for larger transactions.
Two FX brokers that I have used in the past are Ebury Partners, who will give you a personal service and where you can speak to someone on the phone, and Oanda, who are an on-line only service.
You can contact Ebury Partners on 0845 519 1009 or via the web at http://www.eburypartners.co.uk. Please feel free to mention my name.
You can contact Onada at http://fxglobaltransfer.oanda.com/
Onada also have a useful app for BlackBerry, iPhone, or Android.
You can find them in your app store or at
http://www.oanda.com/mobile/converter/blackberry
http://www.oanda.com/mobile/converter/iphone
http://www.oanda.com/mobile/converter/android
respectively.
These will give you an idea of the charges (up to 4% or more) that you could be charged for a transaction.
I hope helps
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