Forex companies vs. high street banks

[DaddyCool]

I posted this in 'other' but it's evolved so I'll post here...

has anyone else had dealing with \link{http://www.moneycorp.com/\this}company and why are their exchange rates soooo much better than everone else?

I'm talking Canadian Dollars here...

RBS (who i bank with and who is rubbish) rate = 1.944

Moneycorp = 2.02

That's huge and if exchanging 5 figures you're looking at savings in the thousands.

how can this be i wonder? There is def no commission and their wire transfer charge is cheap as chips as well.

anyone?

Dunno, maybe they have a minimum amount threshold which is very high. The fact they describe their customers as "Private Clients" or Corporate Clients could be a clue? Just guessing

yes. £5K minimum.

That is high enough to rule out the holiday trippers. I checked on the FSA website and TTT Moneycorp Limited is on the Financial Services Authority register but I don't know enough to be able to interpret whether the company is specifically regulated for fx transfers.

I guess I am a bit cheeky here but if you do use this company, let me know how it goes ... I do have to transfer sums from time to time as well.