TESTIMONIALS

< Testimonials

From: Beryl & Clive Saunders
(Ex Folkestone - Now in Australia).

We learned of your company (C.C.) via our solicitor, when the sale of our UK property and emigration to Australia were in the offing. Over many years, we had converted and transferred relatively smaller amounts via our UK bank i.e. to establish and then support many visits to a second home, but we did feel that more beneficial transfers, with less delay and more immediate information available, should be possible for a private client.

Having a cautious nature, and completely unbeknown to you and the other dealer, we decided to trial alternatives by transferring in February two equal and more modest sums in advance of the property sale expected early April.

C.C. and another but larger dealing company (found advertising on TV) were selected for this purpose. Before instructions were actually given, we enquired early morning of the rates then available - C.C. (whose rate was even net) gave a slightly better figure than the unloaded rate from the other dealer.

We then watched the Ceefax rates for a while - they indicated a slightly improving trend - and at 10 a.m. that same day we decided to trigger the deals with identical faxed instructions. C.C. quickly advised by phone the rate obtained - it had improved in line with the Ceefax trend - and the deal was confirmed at 10.17 a.m. by fax.

It was not until after 12.30 p.m. that the other company advised by fax that their deal had been made at 12.00 noon, and at a rate exactly equal to that quoted for early the initial enquiry ! With an added transfer fee for that size of deal, the effective rate was then even more disadvantageous than the net rate obtained via C.C.

Not to be ignored, our bank had been asked to give an indicative rate at the same time as the dealing companies were instructed. The banks quoted rate was less favourable than both the rates obtained by the dealers, even before the banks own transfer fee.

With interest on the capital in mind, time was to be another measure of performance. Both deals were made on a Wednesday (for 2-day delivery of the currency on the Friday) and the A$ funds then transferred by C.C.s bank were in our account in Western Australia by the following Monday. It was not until three days later (i.e. by the Thursday) that the other dealers transfer to our account was effected !

With this experience before us, we decided to transfer the whole of our eventual property sale proceeds by using Capital Currencies service. Within about one hour of the Completion of our sale (it was again a Wednesday) C.C. confirmed the receipt of the sale proceeds from our solicitor (sent by a CHAPS bank transfer). With a reasonably favourable net rate being quoted at that moment, verbal instructions were given to convert and transfer about two-thirds of the funds in Australian Dollars with the other one-third to be transferred as Pounds to our Sterling account in Australia. The actual net rate for the currency deal was advised by C.C. within a few minutes and then confirmed by fax at 11.34 a.m.

With our personal packing and some house cleaning still to be completed (fortunately we had considerate buyers) it was all a rather anxious time since we were due to leave for the airport and Australia that same afternoon. We need not have worried. By the Friday, the Payment Advice Notes from C.C.s bank had been sent by e-mail (just as we had arrived in Australia) and the Sterling funds were then found to be in our account in Perth long before UK office hours on the Monday. To complete matters, the Australian Dollars were credited by about 10 a.m. Monday UK time and all of our funds started earning interest on that day - only 5 days (including a weekend) after our property sale in the UK. Speed certainly counts as well as a good exchange rate !

What more could we say to illustrate and commend Capital Currencies superb performance?

    WHY USE US

• better rates
• personal service
• attention to detail

    RATES

EUR-USD               1.2878
GBP-AUD               1.6728
GBP-CAD               1.5892
GBP-EUR               1.1919
GBP-USD               1.5356

* Rates shown are market rates within the last 24 hours, are indicative and for example purposes only. The actual rate will depend on the market rate at the time of dealing.

    NEWS

BASE RATES