The euro slumped on Thursday following the European Central Bank’s (ECB) latest interest rate decision.
It doesn’t matter if you are making a one-off transfer or if you make them regularly, you could potentially save a lot of money through using us to move your money abroad.
What makes a foreign exchange broker superior to a high-street bank?
Maybe you are thinking about emigrating or are looking to repatriate funds from a foreign property sale, in either case you are likely to be transferring a lot of money, and choosing a foreign exchange broker like Currencies Direct instead of a high street bank could net you savings of hundreds or even thousands of pounds.
We offer more competitive foreign exchange rates than most high-street banks, making sure your money retains as much as its value as possible as it transferred into your desired currency. We also don’t charge any transfer fees unlike most banks so you can expect to see savings on your transfers right away.
How else can Currencies Direct help you to maximise the returns on your international transfers?
The currency market is in constant flux and this can make it difficult to time your transfer to when it is most advantageous for you. An unfavourable shift in an exchange rate could mean your transfer is worth considerably less than initially expected.
Currencies Direct offers a range of specialist services to help minimise your exposure to currency risks and ensure you maximise your returns when transferring your money overseas.
One such service is the Forward Contract, which allows you to fix an exchange rate for up to a year.
A forward contract is perfect if you are planning a future transfer, such as purchasing a property abroad as it will protect you from any unfavourable shifts in the market during the sometimes-lengthy completion process. Ensuring your purchase doesn’t end up costing significantly more than expected.
Alternatively, if you don’t need to make a transfer immediately and have time to hold out for a better exchange rate you can set up a Limit Order, this will allow you to set a desired exchange rate for your trade, and will be automatically executed upon it reaching that point, ensuring you don’t miss out on the rate you want because the market moves again before you can act.
When using a bank to transfer your money you will generally only be able to trade at the current exchange rate for the day in question, narrowing your chances of getting the best possible deal for your situation.
If you'd like to discuss an overseas transfer, get in touch with one of our friendly currency experts on 020 7847 9400 or visit us here.
Currencies Direct is one of Europe's leading non-bank providers of currency exchange and international payment services. Since we were formed in 1996, we've maintained our focus on providing innovative foreign exchange and international currency transfer services to corporations of all sizes, online sellers and private individuals. We have also expanded our services to provide dynamic and pioneering "business to business" solutions to help companies, tier 2/3 banks and other non-bank financial institutions to process their international payments. Our headquarters are in the City of London (United Kingdom) and we have operations in continental Europe, Africa, Asia, and the United States. Currencies Direct is jointly owned by private equity firms Palamon Capital Partners and Corsair Capital.