Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #1  
Old 03.06.2010, 21:02
FabrizioM's Avatar
Senior Member
 
Join Date: Jan 2010
Location: Basel
Posts: 406
Groaned at 3 Times in 3 Posts
Thanked 365 Times in 185 Posts
FabrizioM has an excellent reputationFabrizioM has an excellent reputationFabrizioM has an excellent reputationFabrizioM has an excellent reputation
Best way to change money

I want to change some GBP to Euro. The bank rates are 300 points away from the market (with a 500 point spread!), offering GBP EUR at 11700 when its gone through 12000

Any ideas on how best to make the transaction?

F
Reply With Quote
  #2  
Old 03.06.2010, 21:41
the_clangers's Avatar
Forum Veteran
 
Join Date: Sep 2009
Location: St. Louis, MO was St Prex, VD
Posts: 1,999
Groaned at 17 Times in 14 Posts
Thanked 1,185 Times in 697 Posts
the_clangers has a reputation beyond reputethe_clangers has a reputation beyond reputethe_clangers has a reputation beyond reputethe_clangers has a reputation beyond reputethe_clangers has a reputation beyond repute
Re: Best way to change money

Quote:
View Post
I want to change some GBP to Euro. The bank rates are 300 points away from the market (with a 500 point spread!), offering GBP EUR at 11700 when its gone through 12000

Any ideas on how best to make the transaction?

F
I have the same problem with moving money from the US to here.
I can pay 100pts to Bank of America and $5 per 1000chf or $5 and the points to CS. It seems that the points I pay to CS are more than 300 though.

Bit of a novice in this, but I assume that 100 points is 1%?
Thanks.
Reply With Quote
  #3  
Old 04.06.2010, 06:37
FabrizioM's Avatar
Senior Member
 
Join Date: Jan 2010
Location: Basel
Posts: 406
Groaned at 3 Times in 3 Posts
Thanked 365 Times in 185 Posts
FabrizioM has an excellent reputationFabrizioM has an excellent reputationFabrizioM has an excellent reputationFabrizioM has an excellent reputation
Re: Best way to change money

Hi there

By 100 points i mean 100 hundreths of a cent, so for one pound I get 117 cents and the market would be at 120 cents or 300 points away
Reply With Quote
  #4  
Old 04.06.2010, 07:08
Member
 
Join Date: May 2008
Location: Zürich, Zumikon
Posts: 129
Groaned at 2 Times in 2 Posts
Thanked 87 Times in 52 Posts
Canariesfan is considered knowledgeableCanariesfan is considered knowledgeableCanariesfan is considered knowledgeable
Re: Best way to change money

If from UK , get a Nationwide Flex account and then take money from ATM machines. No charges rates extremely close to bank rates shown on day, . Just make sure when it offers you CHF or GBP option on rate you choose CHF, as latter is for local bank and them charging you the 3% commission
Reply With Quote
The following 2 users would like to thank Canariesfan for this useful post:
  #5  
Old 04.06.2010, 07:42
the_clangers's Avatar
Forum Veteran
 
Join Date: Sep 2009
Location: St. Louis, MO was St Prex, VD
Posts: 1,999
Groaned at 17 Times in 14 Posts
Thanked 1,185 Times in 697 Posts
the_clangers has a reputation beyond reputethe_clangers has a reputation beyond reputethe_clangers has a reputation beyond reputethe_clangers has a reputation beyond reputethe_clangers has a reputation beyond repute
Re: Best way to change money

Quote:
View Post
If from UK , get a Nationwide Flex account and then take money from ATM machines. No charges rates extremely close to bank rates shown on day, . Just make sure when it offers you CHF or GBP option on rate you choose CHF, as latter is for local bank and them charging you the 3% commission
Well that seems to be the case here as well.

I think that it is odd though. I went into the bank teller to ask what the percent commission was and they looked at me as if I had two heads.
Said, they couldn't tell me what the amount was and then fed me some cock and bull story about how it depended on what the bank could buy currency for on that day. Well, duh! But, if Credit Suisse can't buy currency for the going exchange rate, then who can?
Reply With Quote
  #6  
Old 08.06.2010, 23:38
FabrizioM's Avatar
Senior Member
 
Join Date: Jan 2010
Location: Basel
Posts: 406
Groaned at 3 Times in 3 Posts
Thanked 365 Times in 185 Posts
FabrizioM has an excellent reputationFabrizioM has an excellent reputationFabrizioM has an excellent reputationFabrizioM has an excellent reputation
Re: Best way to change money

UBS are charging 1% of gbp to chf fee but i will have to see what happens rate wise

Thanks all

F
Reply With Quote
  #7  
Old 08.06.2010, 23:43
10:30's Avatar
Senior Member
 
Join Date: Apr 2008
Location: Basel
Posts: 472
Groaned at 5 Times in 4 Posts
Thanked 509 Times in 194 Posts
10:30 has a reputation beyond repute10:30 has a reputation beyond repute10:30 has a reputation beyond repute10:30 has a reputation beyond repute
Re: Best way to change money

Take a look at this way of transferring money between currencies.
Reply With Quote
This user would like to thank 10:30 for this useful post:
  #8  
Old 10.06.2010, 14:06
Banned
 
Join Date: Jun 2010
Location: Zürich
Posts: 16
Groaned at 4 Times in 3 Posts
Thanked 12 Times in 5 Posts
mena613 has no particular reputation at present
Re: Best way to change money

If you have cash in Zurich and are looking for a good rate i know a privat person who most times is happy to change currencies for a very small spread.. send me a pm if you are still looking to change some
Reply With Quote
  #9  
Old 10.06.2010, 14:39
jako's Avatar
Forum Veteran
 
Join Date: Jul 2008
Location: Richterswil
Posts: 865
Groaned at 5 Times in 4 Posts
Thanked 513 Times in 283 Posts
jako has a reputation beyond reputejako has a reputation beyond reputejako has a reputation beyond reputejako has a reputation beyond repute
Re: Best way to change money

Quote:
View Post
If you have cash in Zurich and are looking for a good rate i know a privat person who most times is happy to change currencies for a very small spread.. send me a pm if you are still looking to change some

That does not sound dodgy at all !!!
Reply With Quote
Reply

Tags
banks, currency, exchange rates, gbp




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
best (cheapest) way to change money (CHF->EUR) juice99 Finance/banking/taxation 18 25.03.2018 12:46
I need some change... Nil General off-topic 48 15.04.2010 18:21
Giving wrong money change, rudeness of bus driver, etc saokicucvay Complaints corner 56 10.10.2008 09:55
[Votes on] November 26th (aka Money Money Money) Lob Swiss politics/news 3 22.11.2006 15:11


All times are GMT +2. The time now is 20:45.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0