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Can someone give me a definitive answer(yes I know the forum I'm posting on), as to the cheapest way to pay for a Capra?
There are plenty of snippets of info hidden in topics but nothing very clear cut.
Credit card is best for me but I can do bank transfers.
Thanks in advance.
I paid using hifx. About 200 quid cheaper than using my bank As the rate is 'live' rather than the arbitrary one set by the bank.
Think I paid using a debit card and then hifx sent it onwards as a bank transfer.
No problems and money arrived within a couple of days.
When I paid for mine I looked at various options and in the end just did a bank transfer from my normal HSBC account.
Did it all online, they converted the pounds to euros so I made sure it was the correct exchange rate etc, only cost me £4 in fees.
Not sure what other banks are like, but with mine massively painless!
I used Transferwise. Saved a fair amount on the bank's fees and got a fee free transfer because some kind soul on here supplied me with a link. I think it's 0.5% if not. Way better than the 3% my bank wanted to charge me.
And that was using bank transfer btw.
+1 using hifx. Way better exchange rates. I saved nearly £200. You just get the bank details from YT, pay hifx with your card & they transfer for you. If you pay yt direct with a credit card you get charged & also prob dont get as good an exchange rate. Hifx is the way forward
I paid via RBS bank transfer. Worked well and seemed good value. Cost me a tenner in fees.
Curiousyellow - if you used transferwise you should be able to send a link. If not I've got one. It's definitely cheaper than other fx companies.
Anyone know if you need to do the cash advance right away even if the bike is out of stock until June?
Think you can leave it until 12 days before expected delivery...but the exchange is pretty good at the minute so probably wise to cash in now, which is what I've done. £2.5k for a comp1 which is about £300 cheaper than this time last year.
Thanks, that's what's piqued my interest. Can't see the exchange rate going the other way for a while yet, not that I have any shred on knowledge or insight to base that view on 🙂
If I use Hifx for the payment to YT Industries, can I pay Hifx with a credit card?
EVERYONE PAYING VIA A BANK...... just because they don't charge fees doesn't mean you are not paying extra. Perhaps an example helps.
Let us take a day rate of 1.38 Euro to the pound
Use one of the online P2P transfer companies and you can be getting near enough the full 1.38 euros for each pound you change. Currencyfair, for example, will then charge a one-off 3 euro fee regardless of size of transfer.
ALL the banks, regardless of whether they tempt you with "no fees" or whatever, will use a buy and a sell rate set daily. On the same day when the exchange rate is 1.38 you will be lucky if the bank makes your transfer at 1.30 euros to the pound . And if you were to transfer in the other direction they would transfer at more like £1 for every 1.44 Euros. It is how they make money! Lots of it.
People who say they have saved £200 by using P2P online transfers know what they are doing. People who think they are also doing OK because the bank or credit card company only charged a small fee or waived it altogether are getting conned. Period.
If I use Hifx for the payment to YT Industries, can I pay Hifx with a credit card?
Depends on your CC I'd assume? Mine definately treats FX as a cash advance (with all the associated fees, limits, and interest rates). Not sure it'd offer any protection either as you're buying cash with the CC and then using the cash to buy the bike.