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Old 08-11-2012, 07:21   #1
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Join Date: May 2012
Boat: Gulfstar CSY 50
Posts: 38
Funds transfer for boat purchase

Hi,

Buying a boat in Panama and have purchased it for a set US $ ammount.

Anyone got any tips on how to exchange British Pounds to US Dollars and do the transfer to get the best rate?

I have the 2nd option of paying into the sellers UK bank account as well but what rate is the one to fix the transfer at?

I've worked it out and the variance on the exchange on a tranfer of this size is a couple of thousand at the sites and banks that have quoted.

Anyone been through this and have any advice on the best approach?
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Old 08-11-2012, 17:27   #2
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Join Date: May 2011
Location: Currently in Spain
Boat: Hanse 385
Posts: 653
Re: Funds transfer for boat purchase

Hi there,

I've used this site:
Secure Money Transfer - Foreign Exchange - Send money - Forex
For many a year now. Never had a problem with them, very fast service, great rates, and a flat fee regardly of the amount. Highly recommened.

Regards,
Simon
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Old 08-11-2012, 17:35   #3
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Join Date: Jul 2011
Location: northern NSW australia
Posts: 55
Re: Funds transfer for boat purchase

hi,
This is something i am looking into myself at the moment and have been recommended Pay Pal as an option through a friend of mine. Once you link you Pay Pal account through to your bank account, which is pretty straight forward, it seems to be a good option and the exchange rates are pretty good.
Anyone else with ideas or experience on this would be good to hear from.
good luck mate, and congrats on the new boat.
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Old 08-11-2012, 17:41   #4
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Join Date: Jul 2011
Location: northern NSW australia
Posts: 55
Re: Funds transfer for boat purchase

another site that a mate of mine uses for his business is
Features & Benefits of Online Money Transfer | HiFX Pty Ltd.
its on the list for me to look up and compare with the others.
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