Speaking to a currency specialist can help you get more from your overseas transfers
If you’re looking to move abroad, you’ll want to send your money overseas in the most cost-effective way possible. Our currency partner Global Reach shares five top tips to maximise your currency transfer so that you can take more of your money abroad with you.
1) Know the Difference of Digits
When you’re looking to send your funds abroad, you’ll notice payment providers all offer different rates. While it may seem easier to send your funds through a bank, it’s worth getting a quote from a broker too. For example, if one payment provider offered you a pound to euro (GBP/EUR) exchange rate of 1.14, while the other offered you 1.09, you might find there was as much as a €15,000 difference on a £300,000 transfer.
2) Know the Markets
You don’t have to become a market expert yourself, but by registering with a broker, you’ll be able to speak to a dedicated Dealing team about your money transfer, whenever you need. Your broker can keep you up to date with market news, offer informative guides to enable you to have a better understanding of exchange rates to help you make smart decisions, and can get in touch should your exchange rate reach the desired level.
3) Give Your Property Price Stability
If you’re looking to buy a property abroad, the amount you’ll need to pay may change on a daily basis as the exchange rate fluctuates. With a broker like Global Reach, you can lock-in an exchange rate for up to two years*. While markets can move in either direction, securing a rate means you’ll be able to sleep easy at night knowing that even if an adverse market movement takes place, your property won’t cost you more.
4) Avoid Fees
Some payment providers may charge fees, so it’s always a good idea to ask when you enquire if any fees or commission could be tagged on at a later date. Global Reach doesn’t charge fees over the minimum transaction value of £3,000.
5) Be Prepared
Speaking to a broker as soon as possible can help you plan your transfer and gives you the opportunity to make your international money payment at opportune times. If the exchange rate reaches a favourable level, you may want to make a transfer immediately or lock-in that rate. Likewise, if the exchange rate starts to sink, you may want to send your funds sooner to avoid further losses. Brokers can help you send money quickly and securely, all over the world.
During times of extreme volatility—as we’ve recently seen—it’s more important than ever to speak to a foreign exchange specialist to help you make smarter currency decisions.
To find out more about using a broker, contact Global Reach today at globalreachgroup.com and see how you can maximise your international money transfer.
*Locking in an exchange rate will require a deposit and may be subject to margin payments.
Finding the right currency broker for your needs
There are many different currency brokers to choose from – and they all have different advantages and disadvantages. At PSS International Removals, we transfer large amounts of currency every month. We have therefore tried many different services to find the one that is best for our needs and for our customers moving overseas.
For the last few years, we’ve partnered with Global Reach, which is a leading currency broker, helping people move their money abroad for property purchases, pensions, salaries, and everything in between.
Global Reach has an experienced Dealing team, so you will have access to a team of currency experts who can guide you through the money transfer process.
As well as Global Reach’s competitive rates of exchange, we also like the flexibility they offer in reviewing and managing trades with their award-winning online platform.
Get great rates and award-winning customer service
If you’d like to speak to a Global Reach currency expert to discuss your transfer and receive a no-obligation quote, complete the form below. By registering, you’ll also be able to receive live quotes and sign up for market news and rate alerts to help you make informed currency decisions.
Complete this form for a no-obligation, VIP introduction to our Currency Broker – Global Reach