Cheap way of processing foreign currency payments

[DivineMrsM]

In my other life as an eBay trader, I use www.auctionpix.co.uk to process foreign currency payments. They will exchange all money orders, personal cheques etc from US dollar accounts and in Euros.

They are so much quicker than the banks and their charges are minimal - 95p per batch of cheques/money orders or £3.50 one off payment to set up Autopay which pays the funds directly into your bank account.

I'm sure such systems must exist in other countries too. This is a far preferable way of handling large sums internationally without the large Paypal fees. Not that I actually have a problem with Paypal for smaller transactions so far...

[Sue Dyer]

welcome Mrs M!! Do you use ebay to let your property too or is it for other trading?
I let my cottage twice on ebay and decided not to bother again after the bother I had!!! (I've posted elsewhere about guests from Hell!!)
I think a lot of people seem to use ebay not so much to auction their property but to highlight it as you've got a huge international audience there. I've got my cottage on my "Me" page and seem to get hits.

[paolo]

DivineMrsM,

That auctionpix sounds almost too good to be true. If they charge 95p per batch of cheques, and nothing else, surely they must be making their money on the exchange rate they use?

I had a look at the site and I am a bit wary of it because it is quite poorly written and punctuated. It also seems to be an image hosting service, which doesn't fill me with confidence.

It would certainly make my life easier if I could accept dollar cheques as Americans are my biggest market. Do you recommend it unreservedly?

[DivineMrsM]

Absolutely Paolo. I have never had any problems at all. They're very efficient. It's run by a chap called Eddie St.Clair and they're based in Southport I think.

I'm sure that the exchange rate must be where they make their money, although it didn't look too bad to me when I looked just now.

I have to be honest in that I have never needed to use them for currency exchange in relation to property rental - just for my eBay activities. I don't see any reason not to use them for larger sums though. They seem very trustworthy.

They certainly started out as just image hosting, but the currency exchange part has grown and grown in recent years. They also have a packaging supplies company (auctionpax.co.uk) which is how I came across them in the first place.

On the subject of American customers, I'll have to pick your brains on where you get them!