special offer from crown currancy-had email

[kieras nana]

thanks alot
tracy

 

[LoodlesNoodles]

I've used Crown before and never had a problem. The only problem I had was Royal Mail decided to send my dollars elsewhere, Crown were very helpful, chased up Royal Mail and got my dollars a day late, no biggie as we weren't going for a few weeks. I've ordered some for early Oct we don't go until November.

This is what puts me off ordering that amazing rate as we literally leave 24th Sept, decided not worth the extra few pounds as our postal service is a bit...lacking to put it nicely.

 

[MandyJane]

Thank you for posting this great tip.I phoned up yesterday and got £500 of dollars for our trip in Oct.Many thanks for saving me some much needed pennies!!

 

[london75]

It's a great deal but it doesn't make any sense at all. Why on earth offer customers this rate if they could trade out of the position in the market at a much better rate? I know they have a loyal following but it looks fishy to me...

Because it could be 1.65 by then and they obviously aren't in the gambling game, they are in the money trade commission game.

I own a business in IT Services and occasionally see some people make some money selling computer kit on eBay. It's not my business model even though I could do it. I make more from what I do well than what might occasionally come my way as an opportunity.

 

[igk]

Because it could be 1.65 by then and they obviously aren't in the gambling game, they are in the money trade commission game.

I own a business in IT Services and occasionally see some people make some money selling computer kit on eBay. It's not my business model even though I could do it. I make more from what I do well than what might occasionally come my way as an opportunity.

Sorry but in the foreign exchange market you can trade for any date forward. If I had a transaction on my books that was all covered, then it got cancelled by my customer (though in the T/C's you aren't allowed to cancel so I don't know how this comes about anyway), then all I would do is call my bank and ask for a price for that date. That is the only risk-free way of getting out of that position, and the rate quoted by the bank would be a great deal better then what it is offering to the email recipients.

The forward FX rate differs from the spot rate (which is the normal interbank quoted rate), and that rate is determined by the interest rate differential between the two currencies, but since both USD and GBP interest rates are not that different and the time period in this case is not very long, the forward rate won't be much different to the spot rate.

I'm sorry - I've really not got an axe to grind, but I get nervous when I see this kind of thing - and what with the fact that you have to pay up front, and there's no protection offered, I want people to be as informed as possible before making their decision.

 

[crabbie1]

I had another email today for 2 october dates again $1.60 and 1.61.There are plenty of people who think like you igk and you are entitiled to express your opinion.I also felt thsi way last time I went and thought why hand over all that money and risk loosing it but with the rate they were offering and with good advice from fellow users I took the risk. I had £1200 off them and the rate at the time I bought them was 1.42 in TC and I got 1.58. I am quite happy with that but I am taking a prepaid card as well.

Glad I could help some of you. Everybit helps