Foreign Exchange platform

[supercommuter]

I am not about to become a binary signal trader forex extraordinaire, slazenger wearing, gold plated wrap 53 plate continental driving instagram king....but I am holding some cash in GBP that I would like to convert into dollars easily 'online' with the option of converting back in a few months. I do not want the actual cash in my hand, just a number on a screen.

I just want to hedge some bets on the currency over the next few months! We are not talking 100's of thousands. Just a few thousand from savings.

Thanks

[WyrleyD]

Open a Transferwise account and apply for their Borderless Account, you can hold up to 10 currencies at the same time.

[supercommuter]

WyrleyD said:

Open a Transferwise account and apply for their Borderless Account, you can hold up to 10 currencies at the same time.

Yes, this looks like what i am after!

I cannot see anything about coverage in the event they shut up shop and disappear. Are they guaranteed by anyone/anything?

Thanks!

[Over over under steer]

Transferwise it great

I'd probably throw in and say Revolut if it were my money. I use it daily.

Edit: It will also be a useful product as you can use it on your holidays as a 'normal' card.

[WyrleyD]

supercommuter said:

WyrleyD said:

Open a Transferwise account and apply for their Borderless Account, you can hold up to 10 currencies at the same time.

Yes, this looks like what i am after!

I cannot see anything about coverage in the event they shut up shop and disappear. Are they guaranteed by anyone/anything?

Thanks!

We've used them for a number of years (actually since they started in business) and were among the first to sign up for the Borderless Account and it's served us well in Europe and NZ and has eliminated the faffing around with currencies when travelling.

There are reviews on the interweb about how Transferwise works and we don't look at it in the same light as a bank as they don't hold deposits themselves or do anything else other than currency conversion transactions. I know that our Euros are held at a German bank, the NZ $ in an NZ bank and the sterling amounts are in a UK bank, all-in-all Transferwise is regarded as low-risk.

[supercommuter]

WyrleyD said:

supercommuter said:

WyrleyD said:

Open a Transferwise account and apply for their Borderless Account, you can hold up to 10 currencies at the same time.

Yes, this looks like what i am after!

I cannot see anything about coverage in the event they shut up shop and disappear. Are they guaranteed by anyone/anything?

Thanks!

We've used them for a number of years (actually since they started in business) and were among the first to sign up for the Borderless Account and it's served us well in Europe and NZ and has eliminated the faffing around with currencies when travelling.

There are reviews on the interweb about how Transferwise works and we don't look at it in the same light as a bank as they don't hold deposits themselves or do anything else other than currency conversion transactions. I know that our Euros are held at a German bank, the NZ $ in an NZ bank and the sterling amounts are in a UK bank, all-in-all Transferwise is regarded as low-risk.

Thanks, that makes sense!

I have opened an account and will deposit some money tonight.