Looking to exchange a large amount of USD from bank account, what would be the best option to get the highest rate.
Currently USD is $1.78 on xe
Looking to transfer a large amount of USD
LBretttick on 19/03/2020 - 16:52
Comments
+1
Cheers
I nailed a transfer via transferwise today at the lovely $1.806, it's great because you can see the rate and hit the convert button and it's done instantly at that exact rate!
Rainy day has come eh? How long have you been holding onto it?
10 years. No rainy day just good time to cash out 😉
Yeah, I know: You're a Nigerian Prince and if I help by putting this in my bank account…. And I just need to send you $XXXX to facilitate the transfer……
Hahahq,that Nigerian prince can sit on rotate for 40 years and I'll consider it
I would go see a foreign exchange broker, quote the Transferwise price and ask them to beat it. I got marginally better by showing them what I could get online.
Another new member one post wonder?
to AUD ? Use a broker like above. You could easily transfer to your USD account in Transferwise and convert too.
Cheers
As an (ex) professional currency trader my words of advice are not to chase the lowest price. Set a "take profit/stop loss" level and make your decision accordingly.
A couple of points in the final price are immaterial in the big picture.
Traders philosophy is to always leave something in the market for the next person/trader.It doesn't faze me, just want me money here in Australia
Transferwise.