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Foreign Exchange Account

Discussion in 'Finance & Banking' started by thewaves, 6th Jul, 2010.

  1. thewaves

    thewaves New Member

    Joined:
    6th Jul, 2010
    Posts:
    1
    Location:
    Perth, WA
    Hi All,

    Not sure if anyone here can comment on this but I thought I would ask.

    I opened a GBP Onshore Foreign Exchange Account with the NAB today as I have a client that pays in GBP and suppliers that I have to pay in GBP.

    Unfortunately the rates are outrageous, 2.2% on any money I receive and a further 2.2% on any money I pay out in addition to a $40 transaction fee.

    Suffice to say I am very unhappy with these charges, and would very much like to hear from anyone in this forum who know of better alternative rates and\or providers. So far I am thinking of giving both HSBC and Citibank a call.