We want to transfer the money back to England. Do you have advice?
We are selling our French holiday home and are waiting for the money to be paid into our French bank account. We want to transfer the money back to England. Do you have advice? H.L.
When transferring money internationally, choosing the right service provider is essential to make the most of your money. Using your bank may seem a simple solution; the reality is that it could lead to you receiving less money in your destination account.
Traditional banks often offer poor exchange rates and tend to charge commission on any transfer, either a fixed amount or percentage of the transfer sum. By comparison, currency transfer specialists offer rates, which generally ‘beat the banks’, and quite often will not charge you fees, which can mean significant savings on transfers of large sums.
Aside from the competitive exchange rates, these providers are specialised in overseas money transfers and have multilingual teams with experience working with expats so you do not have
to worry about potential language misunderstandings.
With the presidential elections around the corner and the triggering of Article 50, currency markets are expected to be very volatile. Choosing the right time to transfer will be crucial to avoid losing out. By speaking to currency specialists, you will obtain guidance on the markets so you can make an informed decision. To help you further, they also offer tools such as daily and weekly market updates and rate alerts; the latter will enable you to set up your desired rate and be notified when the market has reached it so you can then decide whether you want to transfer or not.
Even if you have not received the money yet, you could speak to a specialist now so they can assess your needs. When the time comes, you will be sure to make the most of your money when repatriating your funds.
Email your currency queries to news@connexionfrance.com
