Amazon currency exchange rates
I’ve been using World First accounts to move money into our UK bank accounts for a few years. I’d like to do a comparison with Amazon’s fees in order to ensure World First are still the cheapest option. Does anybody know what Amazon’s FX rates are like these days - how can I check them?
0 replies
Seller_FqalN2Equ13mj
Its a black art, those FX fees!!!
Over the years, we have probably used them all and can say from my experience that Amazon had the worst fees.
That said, you try and pin down an FX company to what exchange rate figure they base their exchange fees on!!
A new company will always offer a comparison exchange against who you are using which will probably always be cheaper, but is in introductory rate or have they given you a better rate for that comparison to get your business.
There doesn’t seem to be a central rate to go by to compare, one company might use the mid market rate of xe.com another might use a banks rate, its near impossible to check in real time.
What would make me move FX companies would be the other services they offer, like paying the € vat due out of my Euros before FXing the balance, ease of use when FXing.
Seller_wqciCXuQbNS4p
We’ve found them to be constantly appalling, especially with the US to GBP.
We now have payments made into a Transferwise account and run everything out of there. Had no issues with them at all and the exchange rates are very favourable.
Mister B
Seller_K5CM7aWTeRlC4
I agree with the above comments, Amazon’s conversion rates have always been appalling.
Like Mister_B, I also use Transferwise.
