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Hi

I will be relocating in PP from the Uk very soon and will be opening a bank account once I’m settled there.

What companies do you guys from the Uk use to transfer your sterling into dollar and send to your Cambodian account easily and cheaply?

TransferWise have to use an intermediary account because it’s a US dollar transaction outside of the US, and therefore there’s a extra fee that they can’t predict making it extremely un transparent.

XendPay say they can do the job and their fees seem great but the online reviews and testimonials stink.


Would be great full for some insight.


Regards


Mr N stiles.

I remember reading something a while back. It was with barclays and it allowed you to have an account in USD so long as you kept a minimum of $2000 in it. It was aimed at people with businesses who's customers paid in USD. Not sure what exchange rate you would get if you were to deposit GBP into this account though.

Another option may be to get a pre paid USD travel card in the UK before you leave. I'm sure a bit of research would find some which you could keep topping up from your UK account.

Whichever option you choose you will be losing money on exchange rates, even with transferring money to a Cambodian account.

Nobby Stiles wrote: ↑Wed Sep 12, 2018 12:50 am Hi

I will be relocating in PP from the Uk very soon and will be opening a bank account once I’m settled there.

What companies do you guys from the Uk use to transfer your sterling into dollar and send to your Cambodian account easily and cheaply?

TransferWise have to use an intermediary account because it’s a US dollar transaction outside of the US, and therefore there’s a extra fee that they can’t predict making it extremely un transparent.

XendPay say they can do the job and their fees seem great but the online reviews and testimonials stink.


Would be great full for some insight.


Regards


Mr N stiles.

i transfer my money using https://secure.rationalfx.com/web/login they have good rates and never really had any problems, if you go through the security checks where they call you up, they will unlock unlimited monthly transfers, otherwise its capped at so much per month, all they do is give you a phonecall to confirm you are who you say you are only took a few minutes iirc

Jamie_Lambo wrote: ↑Wed Sep 12, 2018 2:18 am

Nobby Stiles wrote: ↑Wed Sep 12, 2018 12:50 am Hi

I will be relocating in PP from the Uk very soon and will be opening a bank account once I’m settled there.

What companies do you guys from the Uk use to transfer your sterling into dollar and send to your Cambodian account easily and cheaply?

TransferWise have to use an intermediary account because it’s a US dollar transaction outside of the US, and therefore there’s a extra fee that they can’t predict making it extremely un transparent.

XendPay say they can do the job and their fees seem great but the online reviews and testimonials stink.


Would be great full for some insight.


Regards


Mr N stiles.

i transfer my money using https://secure.rationalfx.com/web/login they have good rates and never really had any problems, if you go through the security checks where they call you up, they will unlock unlimited monthly transfers, otherwise its capped at so much per month, all they do is give you a phonecall to confirm you are who you say you are only took a few minutes iirc

@Nobby Stiles i must add, im sure you need to be in the UK when originally signing up/making your account, cant remember the reason why, but im sure that was one of the requirements,
once its set up though you can be anywhere to use it, i think thats one reason they originally called me up to do a security check was because i was transferring money to Cambodia and they was just making sure that it was me, then because they had done the security check they gave me the unlimited monthly transfer limit

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.

Freightdog wrote: ↑Wed Sep 12, 2018 2:47 am
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.

the one i use (linked above) you send the money to them, then they transfer the money to you

Jamie_Lambo wrote: ↑Wed Sep 12, 2018 2:18 am

Nobby Stiles wrote: ↑Wed Sep 12, 2018 12:50 am Hi

I will be relocating in PP from the Uk very soon and will be opening a bank account once I’m settled there.

What companies do you guys from the Uk use to transfer your sterling into dollar and send to your Cambodian account easily and cheaply?

TransferWise have to use an intermediary account because it’s a US dollar transaction outside of the US, and therefore there’s a extra fee that they can’t predict making it extremely un transparent.

XendPay say they can do the job and their fees seem great but the online reviews and testimonials stink.



Would be great full for some insight.


Regards


Mr N stiles.

i transfer my money using https://secure.rationalfx.com/web/login they have good rates and never really had any problems, if you go through the security checks where they call you up, they will unlock unlimited monthly transfers, otherwise its capped at so much per month, all they do is give you a phonecall to confirm you are who you say you are only took a few minutes iirc

Thank you sir.

Jamie_Lambo wrote:

Jamie_Lambo wrote: ↑Wed Sep 12, 2018 2:18 am

Nobby Stiles wrote: ↑Wed Sep 12, 2018 12:50 am Hi

I will be relocating in PP from the Uk very soon and will be opening a bank account once I’m settled there.

What companies do you guys from the Uk use to transfer your sterling into dollar and send to your Cambodian account easily and cheaply?

TransferWise have to use an intermediary account because it’s a US dollar transaction outside of the US, and therefore there’s a extra fee that they can’t predict making it extremely un transparent.

XendPay say they can do the job and their fees seem great but the online reviews and testimonials stink.


Would be great full for some insight.


Regards


Mr N stiles.

i transfer my money using https://secure.rationalfx.com/web/login they have good rates and never really had any problems, if you go through the security checks where they call you up, they will unlock unlimited monthly transfers, otherwise its capped at so much per month, all they do is give you a phonecall to confirm you are who you say you are only took a few minutes iirc

[mention]Nobby Stiles[/mention] i must add, im sure you need to be in the UK when originally signing up/making your account, cant remember the reason why, but im sure that was one of the requirements,
once its set up though you can be anywhere to use it, i think thats one reason they originally called me up to do a security check was because i was transferring money to Cambodia and they was just making sure that it was me, then because they had done the security check they gave me the unlimited monthly transfer limit

I set mine up from Cambodia. Including the unrestricted transfers. So perhaps the U.K. restriction is no more.

khmerhamster wrote: ↑Wed Sep 12, 2018 6:12 am

Jamie_Lambo wrote:

Jamie_Lambo wrote: ↑Wed Sep 12, 2018 2:18 am

Nobby Stiles wrote: ↑Wed Sep 12, 2018 12:50 am Hi

I will be relocating in PP from the Uk very soon and will be opening a bank account once I’m settled there.

What companies do you guys from the Uk use to transfer your sterling into dollar and send to your Cambodian account easily and cheaply?

TransferWise have to use an intermediary account because it’s a US dollar transaction outside of the US, and therefore there’s a extra fee that they can’t predict making it extremely un transparent.

XendPay say they can do the job and their fees seem great but the online reviews and testimonials stink.


Would be great full for some insight.


Regards


Mr N stiles.

i transfer my money using https://secure.rationalfx.com/web/login they have good rates and never really had any problems, if you go through the security checks where they call you up, they will unlock unlimited monthly transfers, otherwise its capped at so much per month, all they do is give you a phonecall to confirm you are who you say you are only took a few minutes iirc

@Nobby Stiles i must add, im sure you need to be in the UK when originally signing up/making your account, cant remember the reason why, but im sure that was one of the requirements,
once its set up though you can be anywhere to use it, i think thats one reason they originally called me up to do a security check was because i was transferring money to Cambodia and they was just making sure that it was me, then because they had done the security check they gave me the unlimited monthly transfer limit

I set mine up from Cambodia. Including the unrestricted transfers. So perhaps the U.K. restriction is no more.

oh right cool, i think it was just what i was told (about having to set it up in the uk) when it was recommended to me

Jamie_Lambo wrote:

khmerhamster wrote: ↑Wed Sep 12, 2018 6:12 am

Jamie_Lambo wrote:

Jamie_Lambo wrote: ↑Wed Sep 12, 2018 2:18 am

Nobby Stiles wrote: ↑Wed Sep 12, 2018 12:50 am Hi

I will be relocating in PP from the Uk very soon and will be opening a bank account once I’m settled there.

What companies do you guys from the Uk use to transfer your sterling into dollar and send to your Cambodian account easily and cheaply?

TransferWise have to use an intermediary account because it’s a US dollar transaction outside of the US, and therefore there’s a extra fee that they can’t predict making it extremely un transparent.

XendPay say they can do the job and their fees seem great but the online reviews and testimonials stink.


Would be great full for some insight.


Regards


Mr N stiles.

i transfer my money using https://secure.rationalfx.com/web/login they have good rates and never really had any problems, if you go through the security checks where they call you up, they will unlock unlimited monthly transfers, otherwise its capped at so much per month, all they do is give you a phonecall to confirm you are who you say you are only took a few minutes iirc

@Nobby Stiles i must add, im sure you need to be in the UK when originally signing up/making your account, cant remember the reason why, but im sure that was one of the requirements,
once its set up though you can be anywhere to use it, i think thats one reason they originally called me up to do a security check was because i was transferring money to Cambodia and they was just making sure that it was me, then because they had done the security check they gave me the unlimited monthly transfer limit

I set mine up from Cambodia. Including the unrestricted transfers. So perhaps the U.K. restriction is no more.

oh right cool, i think it was just what i was told (about having to set it up in the uk) when it was recommended to me

It could have been true at the time. They do have a good service, but I find it a little irritating that they have called me multiple times to ask if they can send money for me. Last time they called I told them that I would contact them when i needed them and for them to stop calling me. Thankfully they have. I hate seeing a UK number calling on my phone - I immediately think someone back home has died, then I find out it is some desk jockey trying to make a sale...

It also irritates me that the price you get offered online isn’t their best price. If you speak to them on the phone they can give you a better deal. Why? Surely the automated web service is cheaper to run than paying a human to negotiate a discount - also I don’t like talking to people unless I really have to