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Old 20-05-2018, 03:34   #1
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Aussie buying boat in Eu: exchange rates

We are looking at buying a boat in the EU. When I buy something small using PayPal, I accept that they’re going to use the exchange rates in their favour as are the banks, but it’s usually too small to matter.
But if I’m spending $100,000 or $200,000 then a fee and bad exchange rate can be thousands.
Anyone have ideas how to do the purchase?
I’m assuming a simple bank-to-bank is definitely not in my interest, even though it’s by far the easiest...
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Old 20-05-2018, 03:56   #2
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Re: Aussie buying boat in Eu: exchange rates

I use OFX .. https://www.ofx.com/en-au/?cid=204&g...FYqLlgodEFAGtg

You get very close to the mid-market rate with very low to non-existent fees depending on how much you transfer..
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Old 20-05-2018, 18:15   #3
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Re: Aussie buying boat in Eu: exchange rates

OFX looks the go. Thanks for that. Now just finding the right boat...
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Old 05-06-2018, 08:26   #4
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Re: Aussie buying boat in Eu: exchange rates

I used XE rate from AUD to Euros, paid 0.3c over mid rate with no fees, and didnt need a Euro bank account either . Was happy with them.
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Old 20-02-2019, 15:12   #5
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Re: Aussie buying boat in Eu: exchange rates

That's good to know too. We eventually used OFX for the purchase (over A$100,000). Their cut/percent changes depending on the amount, but really the fluctuating exchange rates are large anyway after a month or so and the difference is either heightened a lot or reduced to nothing in ways you have no control over.
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Old 20-02-2019, 22:08   #6
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Re: Aussie buying boat in Eu: exchange rates

We use xe.com for international money transfers. No fees, reasonable rates (buy or sell, not mid rate), and less expensive than any other option since Western Union shut down the retail WUBS online fx solution.
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