Author Topic: EUROS to POUNDS conversion service  (Read 1397 times)

Offline Julia

  • Member
  • *
  • Posts: 21
EUROS to POUNDS conversion service
« on: December 03, 2014, 10:52:36 AM »
As you know the pound/euro exchange rate is changeable.

The NOV/DEC rate I'm using for EUROS to POUNDS is 1.30  (If it was POUNDS to EUROS it would be around 1.22)

You may notice that the "official rate" is around 1.26.

To assure you that I'm not "profiteering" on this transaction please be aware that foreign exchange agencies do not use the "official" rate!

The mark up is called SPREAD and when you ask HiFX or an equivalent agent to actually make the transaction (assuming I get about 1000 euros worth to be converted to pounds sterling) they add points to the official rate to make their profit, plus there are costs of about 10 to make this transaction if it is under 3000.

If you have a problem with the rate I have used feel free to credit my Sterling account directly with the sterling equivalent.

Kind regards