Using a Bank to Exchange Currency

Published on August 5, 2010 by admin · No Comments

What ever your needs to do a foreign exchange transfer, use Foreign Exchange UK to help you get a better exchange rate. Using Banks have long been the norm as consumers have been led to believe using a bank to exchange currency in larger amounts is their only option.

But this is far from the truth, by using your bank not only will you not get the best exchange rate but you will also have to pay transfer fees and your payment may take longer to get to its destination. So why is that. Foreign exchange transfers is not the main core business for banks, it is more of a bolt on service to help customers and because of this you get the retail exchange rate which is usually 3% to 5% higher than if you went to a currency broker.

You may be able to haggle with your bank by playing off foreign exchange companies to your bank but the fees are usually payable and they may decide not to match the exchange rate which has happened on most occasions when people have tried it.

So when would you use a foreign exchange company, the answer is simple when ever you want to transfer money overseas, exchange rates are always better than banks as this is our main business and on most occasions there are no transfer fees on amounts over 5k.

Buying / Selling Overseas Property?
Buying goods or services overseas?
Emigrating / Returning From Abroad?
Making a one off International Payment?
Making Regular International Payments?
Cash Foreign Exchange, Money Transfers under £10k
No transfer fees – No commission charges

If you are buying property abroad, its bad enough getting everthing set up and the last thing you worry about is transferring funds. We are here to help you, once you have set up an account we will talk you through the whole process step by step, Making sure you get the best rate and ensuring that your money arrives on time in the currency of your choice.

Emigrating / Returning From Abroad?

If you are emigrating, you will have to convert your funds into the currency of the country you are moving to. Using our experts they will provide you the best conversion from sterling (or your domestic currency) into that foreign currency of your choice and make the international payment to your overseas bank account. Alternatively, if you are returning from abroad, they can help you repatriate your funds.

Migrating

Migrating to another country is a big undertaking with many important things to organise. Transferring your money is one of the things on the “to-do” list but chances are you’re too busy to monitor exchange rate movements or research who can give you the best rate.

Maximising the proceeds of your exchange will give you a great start in your new country and you can only achieve this with a competitive exchange rate and good advice.

Foreign Exchange UK always provide a personal service and we will talk you through every step making sure you get the best deal with your money.