The pound collapsed on Friday as markets were rattled by the contents of UK Chancellor Kwasi Kwarteng’s mini-budget.
Not only can some of these services help take some of the hassle out of moving your money abroad, but by utilising the right services your currency transfer could be worth significantly more.
A spot contract is an immediate transfer at the current exchange rate and are ideal for anyone needing to move their money quickly and easily.
If you are looking to transfer between £100 and £25,000 you can even make a spot transfer online or via the Currencies Direct App, giving you the flexibility to transfer your money 24/7 from anywhere in the world.
Using a forward contract you can fix an exchange rate for up to a year with Currencies Direct.
This can help protect you from any unfavourable movement in the currency market. Handy for when you are planning a future transfer such as when purchasing property abroad.
If you make regular transfers, for instance when moving your pension abroad or making mortgage payments, Currencies Direct can help to automate this process.
By simply setting up a Direct Debt you can avoid the hassle of dealing with the bank, allowing you to focus on the more important things in life, such as soaking up the sun!
If you are waiting for a specific exchange rate before making a transfer and don’t need to move your money immediately, you may wish to consider setting up a limit order.
By setting a target rate with us, we will make your transfer as soon as your desired exchange rate is struck.
Currency markets are notoriously volatile, which can make it difficult when judging when best to time your transfer to ensure you get the most favourable exchange rate.
Our daily market update makes keeping track of movement a doodle however, giving you an overview of recent movement in all the major currencies as well as offering some insight of how an exchange rate may move in the near-term
Let us take the legwork out of monitoring the market by setting up a rate alert with Currencies Direct.
Simply let us know your ideal exchange rate and we will notify via email or SMS you as soon as it becomes available and give you further market guidance should you require it.
With our Currency Wallets you can buy and store several currencies in a digital wallet until you need it.
A new wallet will be created whenever you purchase a currency you haven’t bought before, making it easy to view your balances online and through our app.
If you are planning to move money abroad any time in the foreseeable future and would like to discuss your transfer options, get in contact with one of Currencies Direct’s friendly currency experts by calling us on: +44 (0) 20 7847 9400 or emailing: [email protected]
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.