| Whether you are buying a property abroad for investment,
retirement or holidays at some point during the buying process you
will almost certainly have to exchange large sums of money into
a foreign currency. Many people automatically turn to their bank
for this foreign exchange not realising that alternatives are available.
However, low exchange rates, high transfer fees and commission charges
all eat away at your money and mean that using your bank could cost
you dearly. However, by using a foreign exchange specialist you
can get more of your money time after time.
As an alternative to your bank, a foreign exchange
specialist is able to offer you extremely competitive exchange rates,
no commission charges and lower transfer fees. This can mean considerable
savings on your transfer when compared to using a bank. In addition
a foreign exchange specialist will talk you through every step of
the currency buying process making sure that you are kept informed
of any changes in the market that may affect you.
Foreign exchange specialists can offer you a number
of buying options depending on your timing, circumstances and foreign
currency needs. Buying options include spot deals, forward contracts
and limit orders, many of which are usually not available to private
individuals through a bank.
Spot Deal – If you need to transfer money quickly,
this option will give you the best rate available right now and
guarantee it.
Forward Option – If you’ve got a purchase
date agreed or payments due on given dates, you can fix a rate for
up to 2 years. This allows you to protect yourself against any movements
in the market.
Limit Order – This is used when you want to
achieve a rate that is currently not available. You set the rate
that you want and the market is then monitored. As soon as that
rate is achieved the currency is purchased for you.
If you haven’t had to deal with these sort of
transactions before it can seem a little daunting, but Currencies
Direct, a market leader in foreign exchange, can help give you an
exciting and cost-effective start to your life abroad.
Offering a tailored service to each client, you will
be assigned a dedicated dealer to talk with you, as often as you
require, about up-to-date movements and general predictions on market
fluctuations – in plain English! Offering competitive rates
for all major currencies they will identify the best opportunities
for you and your money. With no charge for registering, no obligation
and no commission fee, Currencies Direct offers a stress-free method
of transferring funds promptly and accurately.
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