Transferring Currency

There are a two main ways of transferring funds overseas, however some are more cost-efficient than others.

According to a recent report from the Association of International Property Professionals (AIPP), British investors buying abroad are losing £2,757 on average, simply by using high-street banks to buy currency instead of foreign exchange specialists.

Bank Transfer - Quick but costs are often high or Foreign Exchange - Often the best solution. You pay the company, they buy currency at wholesale rates, and you benefit from a better exchange rate. There are no hidden charges or transfer rates over £10,000.00 (any more is transferred at cost: £15.00).

However, beware, the market changes and the rate you are quoted will not be guaranteed unless you make the transaction there and then. Purchasing currency There are two options when purchasing your currency - Buying spot - Buying forward Buying spot is effectively what you would be doing through your bank or usual supplier. This means that the exchange happens in two days and funds are transferred then, but you get the rate agreed at the point of sale Buying forward is "fixing" the rate now for a settlement date in the future.

For example, you like the current exchange rates on offer and are uncertain that they will remain favourable. You therefore can buy forward, by locking in the rate for the time when you need the currency.

Also you are not required to pay in full until the value date of the trade. The financial exchange company require 20% secured, in a Client Holding Account as a settlement risk. Finding the best rate Rates do vary between companies so it is often worth shopping around.

We are able to recommend Capital Currencies because they have the ability to access the better rates of the wholesale foreign exchange markets and have very low overheads. This means that they are able to offer clients exceptionally good deals and are a competitive alternative to the High Street banks and other foreign exchange providers.

Contact Capital Currencies

Capital Currencies Exchange
House 3
Waterfield Tunbridge
Wells
Kent
TN2 5XH,
UK

Telephone: +44 (0) 1892 614400

Fax: +44 (0) 1892 614401

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it