Sending Uk pounds from Uk account to Cambodian bank account.

Whether you're a working stiff or a business owner yourself, this is the place to discuss all aspects of financing your drinking habit ;-)

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Kammekor
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Re: Sending Uk pounds from Uk account to Cambodian bank account.

Post by Kammekor » Thu Sep 13, 2018 12:12 pm

armchairlawyer wrote:
Wed Sep 12, 2018 2:40 pm
I'd be tempted to use Transferrwise once to see how much it costs. They are potentially the best deal.
Of course you can also bring cash, change it for USD in PP (at one of the good places) and whack the cash into your Cambodian bank account.
If you do this, make sure your pounds are in an very good condition, undamaged, etc etc.

Otherwise you end up with pounds nobody wants. Even a small tear you would ignore back home can make a big difference in Cambodia.
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Re: Sending Uk pounds from Uk account to Cambodian bank account.

Post by khmerhamster » Thu Sep 13, 2018 12:20 pm

Kammekor wrote:
armchairlawyer wrote:
Wed Sep 12, 2018 2:40 pm
I'd be tempted to use Transferrwise once to see how much it costs. They are potentially the best deal.
Of course you can also bring cash, change it for USD in PP (at one of the good places) and whack the cash into your Cambodian bank account.
If you do this, make sure your pounds are in an very good condition, undamaged, etc etc.

Otherwise you end up with pounds nobody wants. Even a small tear you would ignore back home can make a big difference in Cambodia.
Normally I would say good advice.
But I had a few £20 notes which were ripped and a few with writing on them. He did have a look at the ripped ones & I was expecting him to give them back to me but he didn’t. I was a tad surprised. He actually wanted to have a conversation about why he sees lots of English notes with writing on them.
Just to be on the safe side it’s probably best to make sure the notes are in decent condition.

For Brits, make sure your notes are Bank of England notes and not Scottish / Northern Ireland.
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Re: Sending Uk pounds from Uk account to Cambodian bank account.

Post by Jamie_Lambo » Thu Sep 13, 2018 12:53 pm

Kammekor wrote:
Thu Sep 13, 2018 12:10 pm
Freightdog wrote:
Wed Sep 12, 2018 2:47 am
As per Jamie, for such things I use a foreign exchange broker. They buy and sell currency in large quantity, so you benefit from a much better exchange rate than the one you'd achieve by allowing your bank to make the trade at their daily forex rate.

I used PureFx previously when receiving a salary in Euros. The difference amounted to £300 in savings on a monthly net salary of around £3200-3500.

Whichever one you opt for, check how they are operating- whether they hold funds on your behalf in bank accounts that they control, or transfer straight away to your own bank account. There was the case of a -FX company folding and taking a lot of small 'traders' money in the last week or so.
Typically banks offer 99% of the rate they pay themselves for the major foreign currencies, making 1%. At least my bank does. A 7-8% difference simply seems unreal when you just take the exchange rate into account.
not the same in England...
Exchange Rate today = 1 GBP = 1.30443 USD
Halifax = 1 GBP = 1.226 USD
Post Office = 1 GBP = 1.2772 USD
RationalFX = 1 GBP = 1.28480 USD

the bank is 8% different to the actual exchange rate, Rational FX offers a lot more competitive rate compared to the banks and post office
:tophat: Mean Dtuk Mean Trei, Mean Loy Mean Srey
Punchy McShortstacks School of Hard Knocks :x
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Re: Sending Uk pounds from Uk account to Cambodian bank account.

Post by Nobby Stiles » Thu Sep 13, 2018 10:14 pm

Jamie_Lambo wrote:
Thu Sep 13, 2018 12:53 pm
Kammekor wrote:
Thu Sep 13, 2018 12:10 pm
Freightdog wrote:
Wed Sep 12, 2018 2:47 am
As per Jamie, for such things I use a foreign exchange broker. They buy and sell currency in large quantity, so you benefit from a much better exchange rate than the one you'd achieve by allowing your bank to make the trade at their daily forex rate.

I used PureFx previously when receiving a salary in Euros. The difference amounted to £300 in savings on a monthly net salary of around £3200-3500.

Whichever one you opt for, check how they are operating- whether they hold funds on your behalf in bank accounts that they control, or transfer straight away to your own bank account. There was the case of a -FX company folding and taking a lot of small 'traders' money in the last week or so.
Typically banks offer 99% of the rate they pay themselves for the major foreign currencies, making 1%. At least my bank does. A 7-8% difference simply seems unreal when you just take the exchange rate into account.
not the same in England...
Exchange Rate today = 1 GBP = 1.30443 USD
Halifax = 1 GBP = 1.226 USD
Post Office = 1 GBP = 1.2772 USD
RationalFX = 1 GBP = 1.28480 USD

the bank is 8% different to the actual exchange rate, Rational FX offers a lot more competitive rate compared to the banks and post office

Just spoke with Halifax and they told me the rate was $1.2766 at present. They said it’s a £9.50 fee to send the funds.
Then there’s the intermediary bank charge. But the guy at Halifax said if you opt to pay the fees upfront so the recipient receives the full amount the intermediary fee is capped at £20.

On RationalFX’s website a minute ago it said 1.29781. I believe their fee is £4.5? (Can’t confirm because I’m not verified with them yet) Someone’s already mentioned you still get the intermediary fee with RationalFX (even though they told me I wouldn’t) so that could be $20,30,40 noone knows?
So RationalFx is a better deal especially if your sending large amounts, but thought the Halifax wasn’t too bad a deal for a trusted high street bank, I could effectively do the whole transaction from my online banking app once I’ve set myself up as a recipient, plus it’s peace of mind because I’d have full confidence in them delivering

Not sure where you got the $1.226 but if you ring their international payments line on 03459825319 they will tell you their exchange rate at present for sending funds abroad. They told me the rate wasn’t published online and could only be acquired by phone.
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Re: Sending Uk pounds from Uk account to Cambodian bank account.

Post by Kammekor » Fri Sep 14, 2018 10:48 pm

Jamie_Lambo wrote:
Thu Sep 13, 2018 12:53 pm
Kammekor wrote:
Thu Sep 13, 2018 12:10 pm
Freightdog wrote:
Wed Sep 12, 2018 2:47 am
As per Jamie, for such things I use a foreign exchange broker. They buy and sell currency in large quantity, so you benefit from a much better exchange rate than the one you'd achieve by allowing your bank to make the trade at their daily forex rate.

I used PureFx previously when receiving a salary in Euros. The difference amounted to £300 in savings on a monthly net salary of around £3200-3500.

Whichever one you opt for, check how they are operating- whether they hold funds on your behalf in bank accounts that they control, or transfer straight away to your own bank account. There was the case of a -FX company folding and taking a lot of small 'traders' money in the last week or so.
Typically banks offer 99% of the rate they pay themselves for the major foreign currencies, making 1%. At least my bank does. A 7-8% difference simply seems unreal when you just take the exchange rate into account.
not the same in England...
Exchange Rate today = 1 GBP = 1.30443 USD
Halifax = 1 GBP = 1.226 USD
Post Office = 1 GBP = 1.2772 USD
RationalFX = 1 GBP = 1.28480 USD

the bank is 8% different to the actual exchange rate, Rational FX offers a lot more competitive rate compared to the banks and post office
The rate of Halifax you quote - assuming it's correct, 93,987% of the market rate, so that's indeed a huge cut of over 6%.

However, if the numbers the OP quoted are correct the cut is 2,2%. Still high, but not even close to the 300 difference with a 3500 transfer.
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Re: Sending Uk pounds from Uk account to Cambodian bank account.

Post by Jamie_Lambo » Fri Sep 14, 2018 11:02 pm

Kammekor wrote:
Fri Sep 14, 2018 10:48 pm
Jamie_Lambo wrote:
Thu Sep 13, 2018 12:53 pm
Kammekor wrote:
Thu Sep 13, 2018 12:10 pm
Freightdog wrote:
Wed Sep 12, 2018 2:47 am
As per Jamie, for such things I use a foreign exchange broker. They buy and sell currency in large quantity, so you benefit from a much better exchange rate than the one you'd achieve by allowing your bank to make the trade at their daily forex rate.

I used PureFx previously when receiving a salary in Euros. The difference amounted to £300 in savings on a monthly net salary of around £3200-3500.

Whichever one you opt for, check how they are operating- whether they hold funds on your behalf in bank accounts that they control, or transfer straight away to your own bank account. There was the case of a -FX company folding and taking a lot of small 'traders' money in the last week or so.
Typically banks offer 99% of the rate they pay themselves for the major foreign currencies, making 1%. At least my bank does. A 7-8% difference simply seems unreal when you just take the exchange rate into account.
not the same in England...
Exchange Rate today = 1 GBP = 1.30443 USD
Halifax = 1 GBP = 1.226 USD
Post Office = 1 GBP = 1.2772 USD
RationalFX = 1 GBP = 1.28480 USD

the bank is 8% different to the actual exchange rate, Rational FX offers a lot more competitive rate compared to the banks and post office
The rate of Halifax you quote - assuming it's correct, 93,987% of the market rate, so that's indeed a huge cut of over 6%.

However, if the numbers the OP quoted are correct the cut is 2,2%. Still high, but not even close to the 300 difference with a 3500 transfer.
the figure i got i saw after was if i was ordering american dollars though my bank, the bank transfer was apparently around 3% as matey above quoted
:tophat: Mean Dtuk Mean Trei, Mean Loy Mean Srey
Punchy McShortstacks School of Hard Knocks :x
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Kammekor
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Re: Sending Uk pounds from Uk account to Cambodian bank account.

Post by Kammekor » Fri Sep 14, 2018 11:37 pm

Jamie_Lambo wrote:
Fri Sep 14, 2018 11:02 pm
Kammekor wrote:
Fri Sep 14, 2018 10:48 pm
Jamie_Lambo wrote:
Thu Sep 13, 2018 12:53 pm
Kammekor wrote:
Thu Sep 13, 2018 12:10 pm
Freightdog wrote:
Wed Sep 12, 2018 2:47 am
As per Jamie, for such things I use a foreign exchange broker. They buy and sell currency in large quantity, so you benefit from a much better exchange rate than the one you'd achieve by allowing your bank to make the trade at their daily forex rate.

I used PureFx previously when receiving a salary in Euros. The difference amounted to £300 in savings on a monthly net salary of around £3200-3500.

Whichever one you opt for, check how they are operating- whether they hold funds on your behalf in bank accounts that they control, or transfer straight away to your own bank account. There was the case of a -FX company folding and taking a lot of small 'traders' money in the last week or so.
Typically banks offer 99% of the rate they pay themselves for the major foreign currencies, making 1%. At least my bank does. A 7-8% difference simply seems unreal when you just take the exchange rate into account.
not the same in England...
Exchange Rate today = 1 GBP = 1.30443 USD
Halifax = 1 GBP = 1.226 USD
Post Office = 1 GBP = 1.2772 USD
RationalFX = 1 GBP = 1.28480 USD

the bank is 8% different to the actual exchange rate, Rational FX offers a lot more competitive rate compared to the banks and post office
The rate of Halifax you quote - assuming it's correct, 93,987% of the market rate, so that's indeed a huge cut of over 6%.

However, if the numbers the OP quoted are correct the cut is 2,2%. Still high, but not even close to the 300 difference with a 3500 transfer.
the figure i got i saw after was if i was ordering american dollars though my bank, the bank transfer was apparently around 3% as matey above quoted
Still steep. maybe there's not so many rules containing banks in the UK as in the EURO zone?
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Re: Sending Uk pounds from Uk account to Cambodian bank account.

Post by Jamie_Lambo » Sat Sep 15, 2018 12:50 am

Kammekor wrote:
Fri Sep 14, 2018 11:37 pm
Jamie_Lambo wrote:
Fri Sep 14, 2018 11:02 pm
Kammekor wrote:
Fri Sep 14, 2018 10:48 pm
Jamie_Lambo wrote:
Thu Sep 13, 2018 12:53 pm
Kammekor wrote:
Thu Sep 13, 2018 12:10 pm


Typically banks offer 99% of the rate they pay themselves for the major foreign currencies, making 1%. At least my bank does. A 7-8% difference simply seems unreal when you just take the exchange rate into account.
not the same in England...
Exchange Rate today = 1 GBP = 1.30443 USD
Halifax = 1 GBP = 1.226 USD
Post Office = 1 GBP = 1.2772 USD
RationalFX = 1 GBP = 1.28480 USD

the bank is 8% different to the actual exchange rate, Rational FX offers a lot more competitive rate compared to the banks and post office
The rate of Halifax you quote - assuming it's correct, 93,987% of the market rate, so that's indeed a huge cut of over 6%.

However, if the numbers the OP quoted are correct the cut is 2,2%. Still high, but not even close to the 300 difference with a 3500 transfer.
the figure i got i saw after was if i was ordering american dollars though my bank, the bank transfer was apparently around 3% as matey above quoted
Still steep. maybe there's not so many rules containing banks in the UK as in the EURO zone?
the UK exchange market is fucking wank mate, 5 years ago it didnt seem too bad, but the past couple of years its been dogshit i just take English money over with me plus transfer larger sums through RationalFX to my cambodian bank
:tophat: Mean Dtuk Mean Trei, Mean Loy Mean Srey
Punchy McShortstacks School of Hard Knocks :x
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Re: Sending Uk pounds from Uk account to Cambodian bank account.

Post by khmerhamster » Sat Sep 15, 2018 6:53 am

When working out transfer charges, don’t forget that your receiving bank in Cambodia will also levy a fee.
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Re: Sending Uk pounds from Uk account to Cambodian bank account.

Post by Londonmail » Mon Sep 17, 2018 3:52 am

try moneycorp.COM

used them in the past.. u can use uk bank card or bank transfere to load your money into your money corp account then exchange it on the site and send.

you can pay £5 for next day or £2 for 3/4days (charges amount probly changed now) iv sent money to cambo and thailand with them.

easy and safe (for me anyway)

give them a try
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