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Finding the best exchange rate
| Paying for your property in a foreign currency can be complicated and costly. But you could end up thousands of pounds better off if you get help to understand and tackle the currency markets. You will certainly want to ensure that the price you have to pay does not increase due to an adverse exchange rate movement. Using a currency specialist instead of your bank
A currency specialist like Moneycorp will offer benefits that a high street bank wont provide. Advantages include:
- More competitive exchange rates.
- Lower transfer fees than most banks.
- Faster transfers.
- No commission.
- Option to "fix" rates protecting from adverse currency movements.
- A more personal approach from expert staff who will guide you through the process and are often available outside of normal banking hours.
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| All information is treated in strict
confidence (although it will be passed a specialist currency exchange
professional in order to provide you with details
of the best products and rates available). By submitting the form to us you are deemed to have
authorised any such disclosure. |
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Euro exchange rates - how they can vary
Take a look at the examples below to see how using a specialist can make your money go a lot further.
If you had transferred £50,000 into Euros on 16 January 2009 at 2:11pm, Moneycorp would have used an exchange rate of 1.1414, crediting you with €57,070. Their transfer fee would have been £15.
HSBC would have used an exchange rate of 1.1085, crediting you with €55,425. HSBC would also have charged you a £21 transfer fee.
You would receive €1,635 more with Moneycorp.
Lloyds TSB would have used an exchange rate of 1.1210, crediting you with €56,050. Lloyds TSB would also have charged you a £20 transfer fee.
You would receive €985 more with Moneycorp.
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Foreign exchange contracts
More detailed information about the products on offer from currency specialists can be found by following the links below, but to summarise, the most popular contracts are:
Forward contracts allow you to "fix" an exchange rate so that you aren't effected adversely by currency fluctuations in the future.
Spot contracts allow you to purchase currency "on the spot", at the exchange rate of the day.
Regular payment plans for regular money transfers which, again, can be "fixed" for up to two years.
Click here to read more about foreign exchange contracts.
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Make the most of your money - talk to a specialist
Whatever your situation, it makes sense to talk to an expert. Foreign exchange specialists monitor the currency markets and are always available to give market guidance. This enables clients to make an informed decision on when to exchange their funds and what type of arrangements would be best.
If you want to take advantage of using a currency specialist, open a Trading Facility with Moneycorp, who will give you expert one-to-one guidance on your foreign exchange requirements.
Click here to open a Trading Facility
You can also request a callback from one of the Moneycorp team (saving you the price of the call). Simply click on the phone icon, type in your telephone number and someone will call you straight back.
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