Foreign Currency Exchanges
These are the most popular currency conversions.
|
American Dollar - $ - United
States of America -
USA
|
-
Dollar |
European Euro - Ecu -
Europe |
- Euro |
Australian
Dollar $Au - Australia |
- Dollar |
Canadian Dollar $Ca -
Canada |
- Dollar |
Danish Kronner -
Denmark |
- Krone |
Hong Kong Dollar $Hk - Hong
Kong |
- Dollar |
Japanese Yen
- Japan |
- Yen |
New Zealand
Dollar -$Nz - New
Zealand |
- Dollar |
Norwegian
Kronner - Norway
|
- Krone |
South African
Rand - South Africa
|
- Rand |
Cypriot Pound -
Cyprus |
- Pound |
Swedish Kronnen
- Sweden |
- Krone |
Swiss Franc -
Switzerland
|
- Franc |
Maltese Lira -
Malta |
- Lira |
United Arab
Emirates Dhiram - UAE |
- Dirham |
|
How
it works in Simple terms.
I decide
today to transfer for the sake of argument £10,000 ten thousand sterling
pounds to Cyprus
I
contact Easy Banking and enter into a contract to buy Cyprus pounds.
I then
transfer the money to an Escrow account, as soon as it arrives there, by
whichever mode I send it (which may be internet transfer, cheque,
bankers draft or whichever method I find most convenient and cost effective, the currency
is then wired to an account in Cyprus. If you do not have an account in
Cyprus, one can either be set up for you or you may draw on a holding
account operated in the equivalent currency.
In
real terms
If
today's rate is 84.10 with sterlingfutures it is transferred with no
commission, the bank charges 6% it is also transferred to the country,
namely Cyprus in this instance, with no charges where the bank is either
a min £20 swift or chaps payment + charges at both ends. so with
sterlingfutures you get C£8410 but with the bank you would get only
C£8349.60.
So if
you were buying a house for C£220,000 you will save at least £1350,
that's worth it we think!
|