Thread: For the Brits!

As we're so close to a revalue it might be worth thinking about when the time comes possibly doing a large exchange with a major bank which could be advantageous to us with regards to not paying fees and getting a better exchange rate etc.

Thoughts???

Good thread Adster but I'd rather see it revalue first. Post-revalue financial matters and the relevant decisions will be the least of my worries then! I'm sure once it hits, I'm running straight to Halifax to exchange enough to clear up my immediate debts. Once that's done, it'll be time for some research with some fellow Brits on this forum.

Interesting idea - not sure if it'd work really though. Most individual exchanges will be large enough to get a favourable rate, and there's the risk that some people have counterfeit dinars as well to muddy the waters a bit.

Rather than one "big" exchange, how about a negotation for a better rate if x amount of people can be promised to one bank for their individual exchanges?

Originally Posted by postcon

Good thread Adster but I'd rather see it revalue first. Post-revalue financial matters and the relevant decisions will be the least of my worries then! I'm sure once it hits, I'm running straight to Halifax to exchange enough to clear up my immediate debts. Once that's done, it'll be time for some research with some fellow Brits on this forum.

The Halifax will only buy the same amount of dinar they originaly sold you, so if you didn't buy any from them, they will not exchange.
At least that's what my branch told me.

Originally Posted by investor

The Halifax will only buy the same amount of dinar they originaly sold you, so if you didn't buy any from them, they will not exchange.
At least that's what my branch told me.

Yes, thanks. I'm aware of that hence the trip around to my local! I got a million from them but if this baby revalues at more than .10 cents, I will exchange just enough to clear off my pressing debts. After the resignation letter, I will have plenty of time and options to deliberate on what to do next to maximise my returns and minimise what Gordon Brown creams off me!

Originally Posted by postcon

Yes, thanks. I'm aware of that hence the trip around to my local! I got a million from them but if this baby revalues at more than .10 cents, I will exchange just enough to clear off my pressing debts. After the resignation letter, I will have plenty of time and options to deliberate on what to do next to maximise my returns and minimise what Gordon Brown creams off me!

Yeah, I hear that. Brown has screwed everything else up this week so off-shore is the best bet.

When the time is right, we could create a check list of the price each bank is offering, but I doubt there will be much variance.

Do you think Halifax will change their mind later when it hits?

I have a lot that were bought before they started selling them and would hate to think that I will have to tout around all over to exchange.

I have bought enough to keep Mr Brown happy as well as me and mine. The last thing I want to do is to have money and freedom and lose both because dear Mr Brown didn't get his share (Grrrrrr).

It would be nice to get a better rate but I am going to hold on to mine until it grows a bit so we wouldn't all be cashing in at the same time - maybe.

I do know that it helps to have various ideas though.
On a personal note I want to thank you Adster for opening my eyes to this opportunity.

Originally Posted by investor

Yeah, I hear that. Brown has screwed everything else up this week so off-shore is the best bet.

When the time is right, we could create a check list of the price each bank is offering, but I doubt there will be much variance.

Great Thread Adster...

Im looking at HSBC "The Worlds bank" as they have a top rated asset management package which can be done off-shore. As they are all over the world I feel they will be in the best spot to re-invest all over the place Im going to cash in half my cash holdings leave the rest for a higher rate as im still sure where it opens isnt where it will stay and not touching the Warka account or stocks. I seen a really good article the other day on how everyone says the UK is bad for taxes, thats not the case if you have loads of money appearently the UK is classed as an ON-Shore tax haven for the really rich its the hard working middle class that get hamered by taxes.

Originally Posted by Onenomad

Great Thread Adster...

Im looking at HSBC "The Worlds bank" as they have a top rated asset management package which can be done off-shore. As they are all over the world I feel they will be in the best spot to re-invest all over the place Im going to cash in half my cash holdings leave the rest for a higher rate as im still sure where it opens isnt where it will stay and not touching the Warka account or stocks. I seen a really good article the other day on how everyone says the UK is bad for taxes, thats not the case if you have loads of money appearently the UK is classed as an ON-Shore tax haven for the really rich its the hard working middle class that get hamered by taxes.

The UK is certainly a TOP Off-Shore tax haven for non-UK residents.

Isn't that crazy !

We live here and yet we're looking off-shore, out of the UK, for tax breaks
while foreigners can come here and get all the tax breaks we cannot get,
crazy..........

That's this countries loss as we all take our millions elsewhere....

Originally Posted by laurenr

The UK is certainly a TOP Off-Shore tax haven for non-UK residents.

Isn't that crazy !

We live here and yet we're looking off-shore, out of the UK, for tax breaks
while foreigners can come here and get all the tax breaks we cannot get,
crazy..........

That's this countries loss as we all take our millions elsewhere....

I agree you British do get done over alot, I fall under your "foreigner" catagory as im Canadian living in the UK so will have to look into the best way to deal with taxes as someone living in the UK (Married a beautiful British girl and now have a beautiful little girl)<--- Might go back to Canada but like I said from what I have seen in articles someone with loads of money in this country can get some very attractive Tax breaks (As the current owner of Chelsea could probably tell you)