How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Jo C. Your Own Question

Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 30929
Experience:  Over 5 years in practice
12826847
Type Your Law Question Here...
Jo C. is online now

I wanted to transfer funds from GBP to USD. I called my

Customer Question

I wanted to transfer funds from GBP to USD. I called my usual broker intending to leave a message (I'm in US, they're in UK) but they picked up and they quoted me a "spot rate" of 1.325. I agreed for them to send me the paperwork (which they have the wrong address on) and then over email asked what the fee was as something didn't seem right. The trader started talking in "approximate" figures. I've asked if they do not have an exact record - they claim the rate "was around 1.33" when I called so their fee is "approximately 0.5%".
However I know I was on the phone from 5:37am to 5:39am and when I checked the actual rates the lowest it was during that time was 1.44 - so the rate they're actually charging is closer to 1.5%. I've confronted the trader that they're incorrect and haven't heard back yet. I haven't signed the "contract note" they sent through with instructions on where to send the money or transferred any money to them yet. It has a maturity date noted of June 28th.
As they have mislead me in writing and haven't signed the contract note - although it states they've actioned the trade (based on my phone call - although it doesn't directly state that) am I bound to this complete this deal with them? Can I report them to a financial authority?
Submitted: 5 months ago.
Category: Law
Customer: replied 5 months ago.
edits: I haven't signed the contract yet note yet. It has a place for me to sign as authorised signatory and it also has their bank details, and a space I should fill out for where they should send the funds to.It does state they've actioned the trade - which would have been based on my phone call with them, although it doesn't explictily state that the trade was based on a phone call.
Expert:  Ash replied 5 months ago.

Hello my name is ***** ***** I will help you.

Just to be clear, did you ACTION the trade?
Alex

Customer: replied 5 months ago.
understandinging it to be around 0.5% commission. Now I've checked and they're lying. They won't directly answer what the rate was and they're sending graphs and other information that was not at the same time I called - but an hour before.
Expert:  Ash replied 5 months ago.

Did you action the trade?

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
< Last | Next >
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
  • http://ww2.justanswer.com/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    11553
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.com/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    1754
    Barrister 17 years experience
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    750
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice