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RAPHAELS PRIVATE BANK
Raphaels Private Bank
        
Whatever your foreign exchange requirement Raphaels Bank's personal bespoke foreign exchange services can simplify your currency payments and reduce your risk from exchange rate fluctuations. Specialising in purchasing of foreign currency and offering exceptional exchange rates, whilst offering peace of mind funds are secure by dealing with a regulated bank.
Locations: London UK
Forward Contracts
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Advantages
1. The security of using an FSA regulated private bank with the flexibitity of a currency broker.
2. Simple to use service, you will speak directly with our friendly professional and expert team based in the UK.
3. Competitive exchange rates available, saving you money.
4. Fixed exchange rates are available for transactions that will take place in the future, protecting you from adverse currency movements and allowing you to fix the amount you will pay.
5. Fast international money transfers.
6. Free Fee over 5000
Disadvantages
1. Longer account set up process if not residing in the UK
2. 10 Fee under 5000
Terms and Conditions
Raphaels Bank is authorised and regulated by the Financial Services Authority and is required to comply with Anti-Money Laundering regulations. It is free to set up an account and there is no obligation to trade, Raphaels Bank requires proof of identity and address.
When buying currency you enter into a verbal contract and the rate is fixed for you. Following this, the foreign exchange deal is sent to you in paper format by email, fax or post as a "deal confirmation". Raphaels Bank can only accept payments from a bank account in the name of the client(s) under that account number.
Additional Services
1. Spot and forward contracts
2. Rate watch and date watch monitoring service
Transfer and Currency
Transfer Options:
TT / EFT / CHAPS / BACS
Transfer Speed:
Upon receipt of cleared funds transfers to the US & Western Europe usually occur the same day. Funds to the rest of the world usually 24 hours.
Minimum Exchange: 2500
Currencies Available: 38 Accounts
Trust Accounts: BARCLAYS Trust Accounts
Costs, Rates and Fees
Margin: 1%
Margin Explained: Max 1% from interbank rate
Fee: £0.00
Improved FX Rate with Larger Volume: Yes
Online Registration: No
Regulation
FCA Regulated: Yes
HM Revenue & Customs Regulated: Yes
        
REVIEWS
Raphaels Private Bank (Which Way To Pay - 12/6/2008)
Raphaels Private Bank is ranked 5 out of 5. Based on 1 review.

5 Star Rating

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