1. What are the advantages of using City Forex?
We recognise the need to protect the value of your money. As an alternative to the High Street banks and many other providers we provide the most competitive rates of exchange coupled with professional advice and guidance tailored to meet your specific requirements. Our staff have, between them, over 80 years experience in the retail and commercial foreign exchange markets and you will be assigned a dedicated dealer who will work with you on your transaction from your initial enquiry through to settlement.
2. How do I pay for my foreign currency?
For banknotes, small drafts and small transfers we accept cash, debit card, cheque or direct credit to our segregated client account. For large transactions we normally require funds to be paid into our segregated client account. Your dealer will be able to advise you.
3. Is my money secure?
Yes. All client funds are held in a segregated client accounts with Barclays Bank plc, 54 Lombard Street, London EC3P 3AH.
4. Is there a minimum amount I have to deal?
No. Some clients need to transfer larger amounts for commercial transactions or overseas property purchase. Others have different requirements such as sending small amounts to friends and family abroad or for converting income or paying a foreign currency mortgage. We cater for all needs.
5. How long does it take to get the foreign currency to the beneficiary or to my overseas account?
When arranging a transfer we will agree a settlement date and we will pay funds to your account accordingly. However, please bear in mind that we are unable to release a foreign currency payment until we are in receipt of cleared funds.
For banknotes and currency drafts we offer a same day service to local clients and next day for postal clients.
6. What does it cost to buy my currency?
We do not charge commission on banknotes, transfers or drafts. There is a flat fee of £10.00 for money transfer which is waived on amounts of £30,000.00 and over. We charge £5.00 for a draft.
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