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Like some of you, I got paid my monthly fee today, when I converted the amount owed in dollars to pound Stirling, it should have been £10 more than I received. Is there a reason for this? 

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As the rate fluctuates you can't be sure which day your payment was converted- it's changed by 1% over the last couple of days. Of course you benefit if it goes the other way.

Additionally, the rate Alamy get is about 3% less than the wholesale rate.

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2 minutes ago, spacecadet said:

As the rate fluctuates you can't be sure which day your payment was converted- it's changed by 1% over the last couple of days. Of course you benefit if it goes the other way.

Additionally, the rate Alamy get is about 3% less than the wholesale rate.

Thank you. That’s helpful. 

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  • 2 months later...

According to my Alamy account I cleared $227.50 this last month.  I received my bank statement yesterday which stated £106.20 had been paid into my account.  This is an incredible exchange rate of $2.14 to the pound!   The online official rate is currently $1.31 to the pound, and has never been more than £1.71 over the last ten years.   I should have got in the region of £173.66 +/- £10.  I've also checked my payments for the last 5 months and the the exchange rate has been steadily increasing; it was $1.27/£ in July, $1.35/£ in August, $1.38/£ in September, $1.42/£ in October and now $2.14/£ in November. 

 

What is your reply to this Alamy?

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On 05/11/2020 at 18:00, MikeC said:

According to my Alamy account I cleared $227.50 this last month.  I received my bank statement yesterday which stated £106.20 had been paid into my account.  This is an incredible exchange rate of $2.14 to the pound!   The online official rate is currently $1.31 to the pound, and has never been more than £1.71 over the last ten years.   I should have got in the region of £173.66 +/- £10.  I've also checked my payments for the last 5 months and the the exchange rate has been steadily increasing; it was $1.27/£ in July, $1.35/£ in August, $1.38/£ in September, $1.42/£ in October and now $2.14/£ in November. 

 

What is your reply to this Alamy?

My payment was ok. $59.38 arrived as £44.61, which is about 1.33 rate - as one might expect. Mike - did your account definitely show a payment initiated of $227.50?

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Sorry for the scare guys, looking a little red faced now, got my numbers and months crossed.  Just got my payments out of sync, and all are looking fine now!  Rates are as you say about $1.33/£ as expected.

 

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49 minutes ago, MikeC said:

Sorry for the scare guys, looking a little red faced now, got my numbers and months crossed.  Just got my payments out of sync, and all are looking fine now!  Rates are as you say about $1.33/£ as expected.

 

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Edited by Ognyan Yosifov
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