Print Posted By Lost in France on 6 Feb 2009 in Living in France - Banking, Taxes and Finance

Sending Money Overseas

If you are contemplating moving to France or are looking to purchase a French property then you will no doubt be negotiating hard with your agent to get the best deal possible on the price. However what many people fail to appreciate is that they can reduce the true cost of the property by thousands of pounds simply by using a specialist currency company rather than their bank to send their money overseas.

In addition to not shopping around for the best deal most people unintentionally expose themselves to significant currency fluctuations during the purchase process. This starts at the point where the buyer works out their budget based on the exchange rate at the time they start looking. However it may be many months before they find the property and have to put down an initial deposit followed some weeks later by various instalments. During this time the currency rate will have fluctuated - sometimes it will move in your favour and sometimes not - this gamble will mean that you could have to pay thousands of pounds more to purchase the required amount of Euros to complete the transaction.

Couple this with the fact that a high street bank will apply a margin of around 2% on any transaction and it becomes clear that the buyer needs to understand that the currency purchase is a key element of the property transaction.

Fortunately the solution to these problems is simple - use a currency specialist instead of your bank! It is with this in mind that Lost in France are pleased to announce that they have partnered with leading specialist - Currencies Direct.

Currencies Direct is able to offer clear and simple guidance to anybody with international transfers to make whether it is for a property purchase or much smaller amounts. This includes being able to offer the best currency rates in the market and information on how to book a forward contract to negate the currency exposure during the purchase process.

The key benefits that Currencies Direct offer clients are:

  • Free account opening
  • No Handling Fees
  • Commercial exchange rates, typically 1-3% better than those offered by a bank
  • Forward contracts to help guard against currency fluctuations
In addition Currencies Direct can offer commercial rates of exchange for smaller amounts, a regular transfer payment plan for those clients that need to send smaller amounts on a monthly or quarterly basis and travel money delivered to your door.

The first step would be to create an account. Setting up this account allows you to trade, but does not commit you to do so

To open an account simply click the link here or alternatively just click here to complete our handy form and a member of their team will call you back.


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