When purchasing property overseas, one of the biggest financial decisions you’ll face is how to move your money abroad, whether it’s a large lump sum for the deposit or regular ongoing payments.
With the right approach, you can avoid unnecessary costs, reduce risks from fluctuating exchange rates and make the whole process smoother.
In this guide, we’ll cover the best ways to transfer money when buying property abroad, explore the tools available to help you manage your transfers, and explain how you can protect yourself from currency volatility.
Quick answer
The best way to transfer money when buying property abroad is to use a specialist currency provider such as Currencies Direct. Unlike banks, FX specialists usually offer more competitive exchange rates, lower fees and a range of tools to help you simplify your transfers and get a better deal.
Ways to transfer money abroad for an overseas property purchase
Currency specialists
Working with a currency transfer specialist is generally the most cost-effective and secure way to send money overseas to buy property. FX companies tend to offer better value and a wider range of transfer options. Some providers, such as Currencies Direct, also offer dedicated account managers who understand the challenges of international property purchases and can provide you with valuable personal support.
Banks
Many buyers initially turn to their bank when sending money abroad. However, banks tend to offer less favourable exchange rates, higher fees and fewer options for managing your transfers. While using your bank might seem convenient, the difference in costs can be significant, especially when transferring a large amount for a property purchase.
Redpin
If you’re buying property in Spain, the best option may be to use Redpin Payments for the purchase. Redpin is a fully digital platform from Currencies Direct designed specifically for property payments. It streamlines everything into one secure, easy-to-use account. Payment requests are handled through the platform, protected by encryption and multi-factor authentication, rather than via email. You also get the same excellent rates and transfer services from Currencies Direct, paired with faster payments and fewer delays than traditional methods.
Different money transfer tools for overseas property purchases
When transferring money abroad for a property purchase, there are various tools you can use depending on your current situation and the reason for the transfer.
Spot contracts
This allows you to transfer your money at the current market rate, making it a straightforward option if you need to make an immediate payment. However, property transactions tend to involve large amounts of money, and it’s often best to plan ahead so you have more control over the rate you get.
Forward contracts
With a forward contract, you can lock in an exchange rate up to a year in advance. This is useful if the current rate is strong but you’re not yet ready to complete. With a forward contract, you won’t benefit if the rate improves, but you will be protected from any negative movements. And you’ll be able to budget knowing exactly how much you’re getting from your transfer.
Limit and stop loss orders
These let you target a particular exchange rate, and your transfer will automatically be triggered if the market reaches that level.
Limit orders allow you to target a rate higher than the current rate, so you can wait for a better deal. Stop loss orders, on the other hand, target a lower rate, so you can limit your losses if the market moves against you. You can even combine these two orders to target a stronger rate while protecting yourself from negative movements.
Automated regular transfers
If you need to make regular overseas payments – such as mortgage instalments, pension transfers, or maintenance costs – setting up automated transfers can save you time and reduce stress.
These payments are taken automatically at agreed intervals, and you can choose whether to fix an exchange rate or transfer at the live rate when each payment is due. This consistency helps you avoid missed deadlines and makes it easier to budget for ongoing property-related expenses.
Multi-currency accounts
A multi-currency account acts like a digital wallet for different currencies, giving you more flexibility and control over your property purchase. You can hold money in multiple currencies, add funds when the exchange rate is favourable, and send transfers whenever you’re ready.
These accounts also let you track balances, set rate alerts, and even spend abroad using a linked multi-currency card – ideal if you’ll be travelling back and forth to manage your property.
Getting the best exchange rate when buying property abroad
Securing a strong exchange rate can make a substantial difference to the overall cost of your overseas property, particularly when it comes to larger transfers.
While you can’t control the market, you can plan ahead and use the right tools to protect yourself. Here are some quick tips on maximising your currency transfers when buying property abroad.
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Get expert insights. Specialist money transfer providers often give you access to account managers who understand the property market and currency trends. They can guide you on when and how to transfer large sums, helping you avoid costly mistakes and get more value for your money.
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Plan your transfer. On a property purchase, even a small shift in the exchange rate can add up to thousands. If you don’t need to transfer immediately, monitoring rates or setting alerts can help you move your funds when conditions are in your favour.
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Take advantage of currency tools. With features like forward contracts and limit orders, you can protect yourself from sudden rate drops or lock in a strong rate for when your property payment is due. These tools are designed to give overseas buyers more certainty.
If you want a deeper dive and more tips, read our guide on how to get the best exchange rates.
Managing ongoing overseas property transfers
Buying your property is just the start. Once you’ve completed, you’ll often need to make other payments abroad, and the way you handle these transfers can have a big impact on your costs and peace of mind.
Mortgage and bill payments
If you’re paying an overseas mortgage or covering monthly utility bills, setting up automated regular transfers can help you stay on top of deadlines, avoid late fees, and budget with confidence.
Rental income repatriation
Letting your property abroad? You’ll need to decide when to move rental income back home. By watching exchange rates or using specialist tools, you can make sure you’re not losing out when repatriating your earnings.
Renovations and maintenance
From home improvements to ongoing upkeep, larger one-off transfers are often needed. Planning ahead and securing a strong rate can save you thousands on big projects.
Everyday spending
If you’re travelling back and forth, a multi-currency account or card can make managing day-to-day costs simple. You can hold and spend in several currencies without being stung by poor rates or hidden fees.
Working with a specialist currency provider makes managing all these transfers easier. From setting up recurring payments to timing larger transactions, they’ll help you keep costs down and make your overseas property finances run smoothly.
Using Currencies Direct for your overseas property purchase
Transferring money for an overseas property can feel complex, but with the right provider it doesn’t have to be. That’s where Currencies Direct comes in.
We’ve supported thousands of buyers through every stage of the process – from paying an initial deposit to organising regular mortgage or bill payments. With competitive exchange rates, no transfer fees and personal support whenever you need it, we make moving money abroad simple and secure.
Whether you’re buying in Europe, the US or beyond, our aim is to give you confidence and peace of mind at every step. You can open a free account online in minutes and start planning your transfer today.
FAQs about transferring money for property abroad
How much money can I transfer abroad for a property purchase?
Most money transfer providers have no upper limit on overseas transfers, although your bank may have its own limit. Reputable providers will also have more security checks for larger transfers, which is good because you know they’re being meticulous with your money.
Is transferring money abroad safe?
Yes, as long as you use a regulated provider. Currencies Direct is authorised by the FCA in the UK and regulated in multiple jurisdictions worldwide.
How long does an international property transfer take?
Transfers typically take one to two working days, though this can vary depending on the currencies and countries involved.
Can I save money compared to using my bank?
In most cases, yes. By offering better exchange rates, no transfer fees and a range of transfer options, specialists can often save you money when sending funds overseas.
When should I book my transfer?
This depends on your circumstances and the stage of your property purchase. Speaking to an expert can help you decide whether to lock in a rate early with a forward contract or wait for a potentially better rate.
