Whether you are buying your new home in the sun or selling your overseas property and repatriating the proceeds, a foreign exchange transaction could take place. Whilst using your personal bank may seem like the most obvious and easiest choice, you will find that it could potentially be a very costly one.

Most banks use the exchange rate on the day of the transfer, which will most likely favour them than you, plus you could incur fees, charges, or commissions for the overseas payment itself.

The cost-saving alternative is to use a foreign currency exchange specialist. With these companies you can plan your transfer in advance to help avoid any adverse currency movement and in addition take advantage of significantly better rates of exchange, as well as a level of service which will comfortably surpass that of your bank.
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You can also use these companies for any smaller regular transfers after a property purchase to top up your bank to pay for utilities as well meaning they offer a complete solution for your overseas payment needs.

Key points about the services they can offer:

• Simple no-obligation registration process
• Save significant amounts compared to your bank
• Same day funds transfer available
• Eliminate or drastically reduce all costs associated with foreign banking fees
• Secure the exchange rate at the time it is quoted (Spot or Forward) or target a specific rate using Market Orders
• No minimum or maximum amounts

With their friendly guidance and expertise, you could make huge savings on an international property purchase or sale.