Foreign currency fast and charge free with new ICE bank transfer service 23 November 2009 Travellers looking for swift and charge-free payment of foreign currency can now take advantage of internet and telephone banking transfers to ICE - International Currency Exchange. The development not only means customers can avoid debit or credit card charges on transactions, but those who bank with members of the Faster Payment Scheme (FPS) will see their transfers completed within a few minutes in most cases, ensuring speedy access to their foreign currency. Andrew Hamilton, Head of Marketing for ICE said, "Some banks and credit card companies regard foreign currency orders as cash advances which can attract extra fees, often a percentage of the transaction. In addition, Abbey imposes a £300 daily limit for transactions using their debit card. This new bank transfer service overcomes these problems and allows for online orders of up to £2,500 at one time, or up to £7,500 if purchasing over the telephone. Whether it’s a transaction in minutes using a bank that’s part of the FPS or a few days using the traditional BACS or CHAPS transfer method, there are no unexpected costs and the customer has clear visibility of the transaction." "With the average foreign currency transaction from ICE standing at £680 in 2009 there is clearly a demand for this service and some cost savings to be had. The addition of bank transfer services to our payment options is all part of our commitment to providing a swift, cost-effective and efficient foreign exchange service to our customers." See all recent news