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So I need to pay for a holiday in USD.
The market exchange rate is 1.51 but they best I can do is 1.47. Normally that makes next to no difference but since this is an expensive holiday it does make quite a bit of difference.
I am guessing I just have to pay up and accept it but is there any way to get a bit closer to the direct exchange rate when dealing with larger amounts?
Transferwise will give 1.5113 as of a few minutes ago
Have you got any of the credit/debit cards which don't charge for foreign currency transactions. Visa/MasterCard are about as close to the market rate as possible.
I use TransferWise as well - it would be easy to set the holiday company up as a recipient. Should have it all done in 2-3 days.
Someone on here mentioned [url= https://revolut.com/ ]Revolut[/url] but which has no spread at all but being a luddite I couldn't get it to work.
I get paid in USD and convert to GBP. I would offer to help you out but I just transferred everything to GBP so have no dollars left 🙁
We've just done this (not for a holiday, sadly) and found Transferwise the best. You should save a fair bit if you have a chunk to pay.
Have an invite I can send you if you like, which will get you a free transfer up to £3000 (so you get the true mid-market exchange rate and pay no commission whatsoever) but I suspect yours will be more than that. Either way, you'll get way better than 1.47.
It is well under £3000 so would be delighted to get an invite to this much mentioned transferwise. Email in profile.
Sounds good 🙂