Foreign Exchange
Discussion
We've been using AMEX FX for a number of years now to send/receive USD and EUR from/to China/USA/Germany/Denmark mainly.
AMEX are pulling out of FX which is annoying as over the past 4 years I've managed to amass almost 10m AMEX points which have made holidays a bit cheaper/more comfortable and not much more expensive! I'll now start using them quicker than I'm gaining them through personal/business AMEX cards).
Since AMEX announced their decision I have been inundated with cold calls from other FX dealers/brokers etc advising me (as if I didn't already know) that I'd need to find someone else.
AMEX were never the cheapest, although relatively competitive but the points were one of the reasons I kept using them. That and the fact they had a really simple online platform to send/receive money and excellent customer service.
Going forwards we're likely to be sending IRO 200,000EUR monthly to Germany and bits and pieces elsewhere.
I've got an Outlook folder of emails/follow ups from the almost 100 companies who have contacted me over the past 3 months but would welcome any experiences/pointers/advice/recommendations from anyone currently doing this sort of business each month.
Whilst the rates aren't the highest priority, I don't want to throw money away, a priority for me is ease of use, an online platform like AMEX had which I could set up/manage beneficiaries and create payments which are then taken by D/D. I CBA having to call a broker, set up the trade, make the payment online etc. Customer service is important so a dedicated account manager who can sort problems out there and then would be great.
I assume there'll be others in the same boat as me having used AMEX for a long period so welcome your thoughts.
Thanks!
AMEX are pulling out of FX which is annoying as over the past 4 years I've managed to amass almost 10m AMEX points which have made holidays a bit cheaper/more comfortable and not much more expensive! I'll now start using them quicker than I'm gaining them through personal/business AMEX cards).
Since AMEX announced their decision I have been inundated with cold calls from other FX dealers/brokers etc advising me (as if I didn't already know) that I'd need to find someone else.
AMEX were never the cheapest, although relatively competitive but the points were one of the reasons I kept using them. That and the fact they had a really simple online platform to send/receive money and excellent customer service.
Going forwards we're likely to be sending IRO 200,000EUR monthly to Germany and bits and pieces elsewhere.
I've got an Outlook folder of emails/follow ups from the almost 100 companies who have contacted me over the past 3 months but would welcome any experiences/pointers/advice/recommendations from anyone currently doing this sort of business each month.
Whilst the rates aren't the highest priority, I don't want to throw money away, a priority for me is ease of use, an online platform like AMEX had which I could set up/manage beneficiaries and create payments which are then taken by D/D. I CBA having to call a broker, set up the trade, make the payment online etc. Customer service is important so a dedicated account manager who can sort problems out there and then would be great.
I assume there'll be others in the same boat as me having used AMEX for a long period so welcome your thoughts.
Thanks!
Have a look at wise, they used to be called Transferwise you can set up both a business and personal account. The rates are incredible, it uses the Mastercard exchange rate and you can hold balances in multiple currencies and make interest on the balances at the same time, fees for sending money are cheap too. It has saved me a fortune.
It works very well for spot changes for us. For forward rates, if you do that, we use Global Reach.
It works very well for spot changes for us. For forward rates, if you do that, we use Global Reach.
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