Money Transfers Abroad

How to save money when transferring money abroad

Saving money & keeping you in control

You will save money using a specialist money exchange broker. Foreign currency brokers will

help you get the most from foreign exchange rates when buying overseas property or transferring money abroad. Rates can be booked in advance and you can have your own qualified currency broker to help you through the entire process, fees are lower than your high street bank

Exchange Rates & Overseas Property Purchases

Money Transfers could cost you thousands if not planned correctly

Buying property abroad your overseas property will almost certainly be priced in a currency different to your own , it’s important to realise that you may need to undertake a foreign exchange transaction to pay for the property – sometimes in several stages – and this will expose you to currency risk.  It’s essential to choose the right time to buy currency because if you don’t pick the ideal exchange rate, your property could cost you more than you had expected.

Don't be a victim to changing exchange rates

The problem is exasperated by the inherently volatile nature of exchange rates and the rapid speed in which they fluctuate.  Indeed to the unwary property buyer it’s not uncommon for the exchange rate to fall dramatically in the period after a deal to buy the property has been agreed and the time to pay and complete has arrived.  This could add significantly to the cost of the property and could stretch your budget too far.

Money transfer quotes

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Save money with money transfers abroad

Whilst the exchange rate could move favorably in the same timeframe, for many overseas property buyers unwilling to speculate on the currency markets, the risk is one they are unwilling to make or afford.  Fortunately, restless nights can be avoided by taking the proactive measure of contacting a specialist currency company, such as Currency Index, to strategically manage your currency risk.

Reduce The Risk Foreign Currency Fluctuations

A Spanish property priced at €250,000 would have cost you £177,860 to buy in mid December 2007 but £200,803 by mid April 2008.  That’s an increase of £22,943 in only 4 months – and it’s solely due to exchange rate fluctuations.

Money Transfer Resources

Financial Services Authority The Financial Services Authority is the independent regulator set up by the Government to look after the financial services industry and protect consumers

The Financial Ombudsman Service The Financial Ombudsman Service provides consumers with a free, independent service for resolving disputes with financial firms.

CIPFA - The Chartered Institute of Public Finance and Accountancy The Chartered Institute of Public Finance and Accountancy (CIPFA) is the leading accountancy body for the public services providing education and training.

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