Many people are unaware or neglect the importance of exchange rates and currency risk to the value of their overseas purchase or investment. When transferring currency abroad, the use of a currency specialist can save you significant amounts of time and money.
Perfect for:
- Overseas property
- Emigration
- High value purchases
- Regular payments
Currency Solutions specialize in foreign exchange and can provide you with bank beating exchange rates and eliminate unnecessary fees. Our rates are typically 0.5%-3% better than high street banks and there are no hidden charges.
We also provide you with a personal dealer who will become your single point of contact for all your foreign exchange. Your dealer will keep you informed of market movements and advise you on the best trading options for your requirements.
For Example:
Let’s assume your mortgage payments are €1,500 each month and you wish to pay in £GBP fixed for the next 12 months. Your personal dealer will quote you one exchange rate for this period.
The savings you can expect:
- 12 x 3% (Saving on Bank commission) = £360
- 12 x £25 (Saving on Bank transfer fee) = £300
- Total in 1 year = £660
- Over a 15 year period, you’ll save £9,900
Forward Contracts
Forward contracts allow you to secure an exchange rate now, for a date in the future. By securing a forward contract when the rate is in your favour, you could save thousands more through currency volatility!
For Example:
For the same mortgage payments of €1,500 a month
- Having fixed a forward contract at £1/€1.4, your monthly repayments would have cost approximately £1,071 per month.
- At £1/€1.1, €1,500 costs you £1,363 per month.
- By fixing a forward contract at £1/€1.4, you save £292 per month.
- That’s £3,504 over a 12 month period, in addition to savings on exchange rates and transfer fees!