Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

FX Question

  • 05-07-2010 4:47pm
    #1
    heno55
    Registered Users, Registered Users 2 Posts: 123 ✭✭


    Hi I have a sticky fx problem and i am hopeing that someone here mjght be able to help, the situation is as follows i have money tied up in shares dominated in sterling and i want to buy something from GB in sterling(obviously),but td-waterhouse cant issue me with a third party cheque so at the moment i would have to recieve payment in gbp change it to euros and then change it back into gbp paying fx rates twice which is stupid,i asked in my bank if i could hold sterling in my acc but they said no i would have to open a fx acc with a min of 10000e.
    I could sell the shares and get paid in euros but that would mean paying the exorbitant spread that TD charge and then i would still have to change back into gbp paying a second time for the pleasure,so if there is anyone here with banking experience i would love to hear if you can come up with a solution, or am i going to have to bite the bullet and just pay twice for what is basicly the same transaction:mad:


Comments

  • #2
    heno55
    Registered Users, Registered Users 2 Posts: 123 ✭✭heno55


    anyone:confused:


  • #3
    Smcgie
    Registered Users, Registered Users 2 Posts: 1,379 ✭✭✭Smcgie


    Open a bank account in the north. Its easy to setup and free.


  • #4
    carveone
    Registered Users, Registered Users 2 Posts: 1,306 ✭✭✭carveone


    heno55 wrote: »
    td-waterhouse cant issue me with a third party cheque

    Why not? That's bizarre given that they say they can:

    Cheques. You can request a cheque in sterling only in either your name or to a third party

    Frankly I'd be astonished if they didn't support this. The US based TD-Ameritrade can give you a free chequebook on which you can write cheques against your account. On the other hand I'd be less surprised if the Irish based ones did nothing for you.


  • #5
    heno55
    Registered Users, Registered Users 2 Posts: 123 ✭✭heno55


    i was talking to one of their people on the phone and at first he said i could get a third party cheque then he said to wait while he checked it out and when he came back to me it was sorry but no


  • #6
    carveone
    Registered Users, Registered Users 2 Posts: 1,306 ✭✭✭carveone


    heno55 wrote: »
    i was talking to one of their people on the phone and at first he said i could get a third party cheque then he said to wait while he checked it out and when he came back to me it was sorry but no

    Hum. Strange. Maybe I'm confusing the terms.

    I thought a third party cheque was where someone makes out a cheque to you and then you use that cheque to pay someone else. In which case I would expect problems as the rate of fraud is very high.

    If a bank makes out the original cheque that's a money order. At least it is in the US anyway.

    The fact remains that their website says you are entitled to make out cheques against your account. Some phone guys personal opinion is of no consequence.

    Maybe try telling instead of asking them :o
    "Hi, I want a cheque made out to Joe Bloggs Inc against my account". If they say no, say their website says you can and ask for a supervisor to explain why their website says one thing and they say another. Might as well if the alternative is lost money...

    Just my opinion (for what that's worth!)


  • Advertisement
Advertisement